I've seen lots of daft market reactions this reporting season but this is up there. I think many people don't realise that most of EVS's revenues are derived from consulting not Envirosuite ($1-2m per anum). The fact revenues went backwards overall is therefore irrelevant.
Key information is on pages 2&3: More sales to new clients since recent update in September - Thames Water, EPA major trials nearing completion - growing sales pipeline.
People also don't seem to get that whilst each contract win is typically small ($60k per year), that revenue is recurring so the real value of these contract wins to EVS is multiples of $60k. They seem to be picking up roughly one of these per month at the moment.
EVS Price at posting:
5.3¢ Sentiment: Buy Disclosure: Held
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