The earnings release was great the stock reaction was terrible!!
Let me highlight a few points:
1 - Backlog Strong ‐ $175M contracted backlog of which SPS backlog is $18.7M, showing strong SPS
momentum This is great and if you read note 1 there is another $50 million of backlog. In short, there is over $200 million in USD backlog while the market cap is under $100 million in USD.
2- Net Cash Position ‐ cash balance of $23.7M, as well as $38.4M in short and long‐term liquid investments. Total cash is approximately $62 million. Meaning, the stock price is trading a little above the cash balance.
The company should continue to see growth but the stock price will not move until they are on a US stock exchange. In the meantime, the company should use ANY excess cash to do a stock buyback.
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