On the back of the latest half year earnings which includes another positive net income result. There must be a good case for a rerating to a higher value.

Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has only increased by 78% per year, which means it is significantly lagging earnings growth.

First half 2023 results:

• EPS: AU$0.004 (up from AU$0 in 1H 2022).
• Revenue: AU$3.58m (up 418% from 1H 2022).
• Net income: AU$1.87m (up AU$1.81m from 1H 2022).
• Profit margin: 52% (up from 8.4% in 1H 2022). The increase in margin was driven by higher revenue.

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02638091-6A1138643?access_token=83ff96335c2d45a094df02a206a39ff4