Bought some EVS yesterday. Seems cheap, with net cash backing almost equal to its entire market cap. I think there are few stocks with this attribute, with cash balances above $10m. You essentially get its proprietary software for free.
K2Fly (K2F) recently had a massive run, and its market cap is above where EVS is, despite its main attraction being that it has landed one big contract with software it is selling on behalf of someone else. EVS not only owns its own software but has had several large wins recently. So based on K2F's run, you could argue that EVS appears cheap by comparison.
I think the market is discounting the stock because it's taking the view that it's still the same people, same software, so probably won't see results any different from what we've seen in last 4 years. That result being that they've had virtually zero traction with their software sales. It's a fair assessment, but with the software valued at virtually nothing, imo it makes a good little spec punt buy anyway.
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