XII Results Bearish
NUMERAL LIMITED - CANCELLATION OF S524165 SF: Summary of the Audited Financial Statements for the Year Ended 28 February 2026
Numeral Limited
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What this filing means
Revenue doubled, profit barely moved, and earnings per share collapsed — that is the bottom line on Numeral's audited year to February 2026. Top line grew 126% to USD 2.2m but operating profit rose only 13% to USD 180k, and HEPS fell 47% to USD 0.0643 even after a 1-for-10 share consolidation. The prior-year comparatives were also restated via a separate change statement, raising questions about the baseline against which the growth is being measured.
Bull case
- Revenue more than doubled, growing 126% to USD 2.2m — clear top-line acceleration.
- Operating profit expanded 13% to USD 180,283, confirming the business remained profitable through the growth phase.
Bear case
- Revenue doubled to USD 2.2m (+126%) while operating profit rose only 13% to USD 180k, indicating severe operating margin compression as the business scaled.
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