NVX Chart, page-3257

Novonix Limited (ASX:NVX) shareholders might be concerned after seeing the share price drop 20% in the last month. But in three years the returns have been great. In fact, the share price is up a full 249% compared to three years ago. After a run like that some may not be surprised to see prices moderate. Only time will tell if there is still too much optimism currently reflected in the share price.
Given that Novonix didn't make a profit in the last twelve months, we'll focus on revenue growth to form a quick view of its business development. When a company doesn't make profits, we'd generally expect to see good revenue growth. That's because fast revenue growth can be easily extrapolated to forecast profits, often of considerable size.
Novonix's revenue trended up 38% each year over three years. That's well above most pre-profit companies. Along the way, the share price gained 52% per year, a solid pop by our standards. This suggests the market has recognized the progress the business has made, at least to a significant degree.