Buy Or Sell Opportunity • Jun 03
Now 20% undervalued Over the last 90 days, the stock has risen 141% to S$0.19. The fair value is estimated to be S$0.24, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 34% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 28% per annum. Earnings are also forecast to grow by 40% per annum over the same time period. Reported Earnings • May 24
Full year 2026 earnings: Revenues exceed analyst expectations Full year 2026 results: Revenue: US$24.8m (up 60% from FY 2025). Net income: US$4.83m (up 148% from FY 2025). Profit margin: 20% (up from 13% in FY 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 23%. Revenue is forecast to grow 30% p.a. on average during the next 2 years, compared to a 32% growth forecast for the Communications industry in Asia. New Risk • Apr 24
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Singaporean stocks, typically moving 9.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (9.0% average weekly change). Large one-off items impacting financial results. Recent Insider Transactions Derivative • Dec 25
Co-Founder exercised options to buy S$544k worth of stock. On the 22nd of December, Khai Pang Tan exercised options to buy 8m shares at a strike price of around S$0.0065, costing a total of S$52k. This transaction amounted to 22% of their direct individual holding at the time of the trade. Since March 2025, Khai Pang's direct individual holding has increased from 36.20m shares to 44.20m. Company insiders have collectively bought S$19k more than they sold, via options and on-market transactions, in the last 12 months. New Risk • Jul 10
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 37% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (17% average weekly change). Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (S$48.6m market cap, or US$38.0m). Reported Earnings • Jul 08
Full year 2025 earnings released: EPS: US$0.001 (vs US$0 in FY 2024) Full year 2025 results: EPS: US$0.001 (up from US$0 in FY 2024). Revenue: US$15.5m (up 22% from FY 2024). Net income: US$1.95m (up US$1.68m from FY 2024). Profit margin: 13% (up from 2.2% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 114% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Jul 07
Addvalue Technologies Ltd, Annual General Meeting, Jul 24, 2025 Addvalue Technologies Ltd, Annual General Meeting, Jul 24, 2025, at 10:00 Singapore Standard Time. Location: 202 bedok south ave 1, singapore 469332, block a, event hall 1 & 2 on level 3, Singapore New Risk • Jun 02
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). Share price has been highly volatile over the past 3 months (18% average weekly change). Minor Risks Latest financial reports are more than 6 months old (reported September 2024 fiscal period end). Large one-off items impacting financial results. Market cap is less than US$100m (S$32.4m market cap, or US$25.1m). New Risk • Nov 14
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Singaporean stocks, typically moving 15% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.2x net interest cover). Share price has been highly volatile over the past 3 months (15% average weekly change). Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (S$35.7m market cap, or US$26.5m). Reported Earnings • Jul 11
Full year 2024 earnings released: EPS: US$0 (vs US$0.001 loss in FY 2023) Full year 2024 results: EPS: US$0 (improved from US$0.001 loss in FY 2023). Revenue: US$12.8m (up 69% from FY 2023). Net income: US$277.5k (up US$3.27m from FY 2023). Profit margin: 2.2% (up from net loss in FY 2023). Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Announcement • Jul 09
Addvalue Technologies Ltd, Annual General Meeting, Jul 24, 2024 Addvalue Technologies Ltd, Annual General Meeting, Jul 24, 2024, at 10:00 Singapore Standard Time. Location: 202 bedok south ave 1, singapore 469332, Singapore Reported Earnings • Jun 04
Full year 2024 earnings released Full year 2024 results: Revenue: US$12.8m (up 69% from FY 2023). Net income: US$277.0k (up US$3.27m from FY 2023). Profit margin: 2.2% (up from net loss in FY 2023). The move to profitability was driven by higher revenue. New Risk • May 28
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$372k free cash flow). Share price has been highly volatile over the past 3 months (20% average weekly change). Minor Risks Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). Market cap is less than US$100m (S$42.1m market cap, or US$31.3m). Announcement • Mar 27
Addvalue Technologies Ltd Announces Board Changes The Board of Directors of Addvalue Technologies Ltd. announced that Mr. Wong Ming Ghee, Bernard will resign as Independent Director. Upon cessation, Mr. Wong will cease to be Chairman of Nominating & Remuneration Committee, member of Audit Committee and Risk Committee of the Company with effect from 31 March 2024. The Audit Committee and Risk Committee shall merge and become the Audit & Risk Committee ("ARC"). With Mr. Wong's resignation, the Board wishes to announce the following appointments with effect from 31 March 2024: (i) Mr. Chua Chwee Koh as a member of the Audit and Risk Committee; (ii) Mr. Paul C Burke as member of the Nominating and Remuneration Committee; and (iii) Mr. Richard J Denny as Chairman of the Nominating and Remuneration Committee. Consequently, the composition of the Board with effect from 31 March 2024 will be as follows: Mr. Richard J Denny Chairman, Independent and Non-Executive Director Mr. Tan Khai Pang, Chief Executive Officer, Executive Director, Ms Goh Liang Choo, Independent and Non-Executive Director, Mr. Paul C Burke, Non-Independent and Non-Executive Director and Mr. Chua Chwee Koh, Non-Independent and Non-Executive Director. The Board's Executive Committee remains unchanged as follows: Mr. Chua Chwee Koh, Chairman and Mr. Tan Khai Pang, Member. Audit and Risk Committee: Ms Goh Liang Choo, Chairman, Mr. Richard J Denny, Member and Mr. Chua Chwee Koh, Member. Nominating and Remuneration Committee: Mr. Richard J Denny, Chairman, Ms Goh Liang Choo, Member and Mr. Paul C Burke, Member. New Risk • Feb 08
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Singaporean stocks, typically moving 13% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$372k free cash flow). Share price has been highly volatile over the past 3 months (13% average weekly change). Minor Risk Market cap is less than US$100m (S$25.9m market cap, or US$19.3m). New Risk • Aug 05
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Singaporean stocks, typically moving 16% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$4.4m free cash flow). Share price has been highly volatile over the past 3 months (16% average weekly change). Minor Risks Shareholders have been diluted in the past year (5.0% increase in shares outstanding). Market cap is less than US$100m (S$48.6m market cap, or US$36.3m). Reported Earnings • Jul 14
Full year 2023 earnings released: US$0.001 loss per share (vs US$0.003 loss in FY 2022) Full year 2023 results: US$0.001 loss per share (improved from US$0.003 loss in FY 2022). Revenue: US$7.55m (up 38% from FY 2022). Net loss: US$2.99m (loss narrowed 62% from FY 2022). Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has only fallen by 26% per year, which means it has not declined as severely as earnings. Announcement • Jul 13
Addvalue Technologies Ltd, Annual General Meeting, Jul 28, 2023 Addvalue Technologies Ltd, Annual General Meeting, Jul 28, 2023, at 10:00 Singapore Standard Time. Location: 202 Bedok South Ave 1 Bedok Singapore Agenda: To receive and adopt the audited financial statements of the company; to re-elect directors; to approve director's fee for the financial year ended 31 March 2023; to reappoint auditors of the company; to consider general authority to allot and issue shares; and to consider other matters. Reported Earnings • Jun 02
Full year 2023 earnings released Full year 2023 results: Revenue: US$7.55m (up 38% from FY 2022). Net loss: US$2.99m (loss narrowed 62% from FY 2022). Reported Earnings • Nov 19
First half 2023 earnings released First half 2023 results: Revenue: US$2.46m (up 52% from 1H 2022). Net loss: US$1.01m (loss narrowed 8.1% from 1H 2022). Recent Insider Transactions • Aug 24
Board Member recently bought S$87k worth of stock On the 22nd of August, Chwee Koh Chua bought around 6m shares on-market at roughly S$0.015 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought S$120k more in shares than they have sold in the last 12 months. Reported Earnings • Jul 20
Full year 2022 earnings released: US$0.003 loss per share (vs US$0.003 loss in FY 2021) Full year 2022 results: US$0.003 loss per share (vs US$0.003 loss in FY 2021). Revenue: US$5.46m (up 104% from FY 2021). Net loss: US$7.96m (loss widened 29% from FY 2021). Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Reported Earnings • Jun 02
Full year 2022 earnings released Full year 2022 results: Revenue: US$5.48m (up 105% from FY 2021). Net loss: US$2.25m (loss narrowed 64% from FY 2021). Executive Departure • Oct 07
Independent Non-Executive Director Michael Butler has left the company On the 29th of September, Michael Butler's tenure as Independent Non-Executive Director ended after 11.1 years in the role. As of June 2021, Michael still personally held 4.17m shares (S$83k worth at the time). Michael is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 7.63 years. Board Change • Oct 07
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Director Bernard Wong was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Jun 05
Full year 2021 earnings released The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2021 results: Revenue: US$2.67m (down 72% from FY 2020). Net loss: US$5.88m (down 421% from profit in FY 2020). Reported Earnings • Nov 20
First half 2021 earnings released: US$0.001 loss per share The company reported a poor first half result with increased losses and weaker revenues and control over expenses. First half 2021 results: Revenue: US$720.0k (down 66% from 1H 2020). Net loss: US$1.49m (loss widened 70% from 1H 2020). Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings.