Cogstate
a fundamental analysis.
Cogstate
a fundamental analysis
By Manuel Maurício
August 07, 2020
Symbol: CGS (ASX); COGZF (OTC Markets)
Share Price: AUD$0,62
Market Cap: AUD$105 Million
Business
Everyone knows Google, right?
How big is the cloud opportunity. Compare it to AWS and Azure
Segments
R&D
Financials
The image below shows the contracted backlog that will be recognized as revenue in the years to come. $15,4M of those $39M are expected to be recognized during 2021, compared to $11M back at the same time last year.
Balance Sheet
Competition
As far as I’ve been able to gather, the largest competitor is really the pencil and paper tests. Apart from that, there are several small companies (Cambridge Cognition being the largest one), but to my knowledge none that can compare to Cogstate. This is something I should be learning more about.
Risks
- New tech/competition
- Issues with the validity of the results
- Patent challenges
- Unknown random problems like funding (it’s a microcap)
Conclusion
Further research material
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