Earnings Review · 10 November 2026
The print
Results are in but not yet verified against a primary source in our ledger; this review updates the moment the audited figures land. What does not change is our read below.
Did the flow confirm the move?
Underlying money flow reads as distribution (21-day Chaikin Money Flow -0.07, five-day price change -16.0%, as of 2026-11-06, desk flow model).
Give the business its due
The business itself is genuinely strong: revenue growing about 454%, net margins near 3%.
Levels that matter
At $141.45 the shares sit 53% below the 52-week high of $299.86 and 92% above the low of $73.52 (30% of the way up the range). The 50-day average is $201.68, above the price. The 200-day average is $178.41, above the price.
The valuation lens
Our fair-value work puts the shares about 100% below what the business is worth: value on offer. Fair value lands near $268 against a $134.00 share price, a margin of safety of about 100%. The trailing multiple sits around 105 times earnings, which only makes sense if the growth holds.
The ethical lens, our differentiator
Fails the principled screen, Interest/revenue 6.0%. A strong business is not the same as a suitable one; for a values-conscious book this is a do-not-chase regardless of the print.
The compliant alternative
If the theme is what draws you, Baltic Classifieds Group PLC (BCG.L) sits in the same industry (Internet Content & Information) and clears our principled screen, the place to look instead of chasing a name that does not.
The verdict for a values-conscious investor
A beat-and-raise does not change the screen. This is a great company you can admire without owning, protection first. One quarter, strong or soft, does not decide whether a holding is suitable.
This is analysis, not financial advice. Always manage your risk.
