MSmicrocaps

The microcap index focused on quality+value+momentum at growth inflection points (MSMqi) supported by Cliff Notes & tools:

[MSmicrocaps @MSmicrocaps]

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[MSmicrocaps @MSmicrocaps]

Important MSMqi News | October 19–23, 2026: $BURCA $RMCF $FSI $BOF $PPIH $DAIO $CANOF ( $CNO.V ) $NTWK

$BURCA Q3 sales rose 27.9% YoY to $74.6M . Gross margin improved to 21.5% from 19.6%; adjusted EPS: $0.44 vs. $0.21.

$RMCF Q2 revenue was $6.7M vs. $6.8M a year ago and still struggling to make money (lost $1.3M). Still reviewing strategic alternatives, including a potential sale or merger. Leaseback used to repay 12%-interest debt. Multiple CEOs have had a hard time turning this thing around.

$FSI Preliminary Q3 revenue: up 36% to $14.35M, supported by full Panama (new) factory operations and strength at its ENP division. We’re most interested to see if they made any significant progress in there food division contracts.

$BOF Forecasts Q4 revenue of $6M–$7M, up 50% to 75% YoY, after a disappointing $1M sales outing expected in Q3. It targets a roughly $4M quarterly recurring revenue base heading into 2027. Separately, the company priced a $5M public offering of 2.94M shares at $1.70. This came heels of a raise, just about two months ago. Might have to regain some investor trust.

$PPIH North American operations secured more than $28M in new orders during the first two months of fiscal Q3, spanning district heating, Canadian oil and gas, and U.S. data-center projects.

$DAIO Completed its approximately $23M acquisition of V-TEK and A&J Programming ($20M cash, $3M stock). Management expects the combination to more than double consolidated revenue and broaden its semiconductor automation and programming-services markets. The company also announced a $13.25M private placement to help fund the transaction. We did not expect the raise. Overall, company has not come through with his turnaround plan.

$CANOF Expanded its Santa Ana lease by 15,500 sq. ft., increasing its facility footprint by approximately 80% to support manufacturing scale-up after a recently announced large purchase order and development agreement. Appears that the company has gotten through the worst of the loss of it large R&D customer, as it now focuses on its commercial revenue ramp which seems to be going well. Very excited that they are targeting the nuclear and data center markets.

$NTWK Approved by Mercedes-Benz USA as a digital retail provider, making its Transcend Retail platform available to Mercedes-Benz dealerships across the U.S. No revenue commitments were disclosed.

Link to our Substack in our Bio..

[MSmicrocaps @MSmicrocaps]

MSMqi Weekly News | Oct 12–16, 2026

$SODI: Q2 2027 sales grew 42% to $5.66M; bookings rose 48% to $6.42M and backlog increased 29% to $24.11. EPS came in at $0.60 vs. a loss.

$BUKS: Subsidiary Avcon received FAA supplemental type certification for a Honeywell a ground-proximity-warning-system upgrade on Bombardier and Learjet aircraft. Pushed the stock back to near its 52 week high.

$DAKT: Cost restructuring expected to generate more than $18M in annualized pretax savings at full run rate by mid-2028.

The turnarounds

$CMTL: 2026 sales fell 17% to $249.6M, while adjusted EBITDA rose 26% to $20.6M and gross margin improved to 38.9% from 31.6%. Losing money. Still in the doghouse. We’ll see what the company looks like after a planned asset sale goes through.

$VELO: Q3 revenue is expected at $19.5M to $20.5M, up 43% to 51%. We assume they’re still losing money and, if so, are off-track projections they had mentioned in the past.

$DRX.TO: Secured C$82M in new steel-fabrication contracts across Canada and the U.S., primarily in hydroelectric infrastructure. Backlog stood at C$693.7M on July 31, excluding the newly announced awards.

$IDXG: Preliminary, unaudited Q3 revenue is expected at $10.1M–$10.4M, up 15% to 18% YoY and 11%–14% sequentially.

[MSmicrocaps @MSmicrocaps]

If you invest in tech small caps, @bmb21 is worth following. Ben brings an interesting perspective from investment banking and 6 years at $KVYO, including its IPO.
Looking forward to having him join us next week for the $DDOSF presentation at our conference.

[MSmicrocaps @MSmicrocaps]

New Research Journal Post (link in bio):

•In general, we think the market hasn’t priced in a turnaround yet, by new CEO.

•On our estimate of earnings once restructuring cuts are done = trading at a forward P/E of 5x.

•The company has very low net debt, and years of past tax losses should let it keep almost all of the new profit.

•Someone else seems to have noticed: an investor has bought nearly 9% of the company, close to the 10% cap the board set to block takeovers, and a cost reduction plan was announced the day after it disclosed raising that stake.

•Big share repurchase program in place.

[MSmicrocaps @MSmicrocaps]

Both in the short term..

Long-term - Company performance drives everything

[Ryan Telford @RTelford_invest]

Narrative drives price, or

Price drives narrative?

Sometimes I wonder.

[MSmicrocaps @MSmicrocaps]

We talk a lot about multibaggers, but one of our fave stats from our 2022/2025 Microcap Quality Indexes are actually the percentage of stocks that delivered returns of 20% and 50%.

Investing in a broad universe of quality companies with a high probability of delivering solid returns might be a better strategy for most investors, leading to a much better CAGR vs. constantly chasing the next multibagger.

Give yourself enough good chances at bat, and the multibaggers will naturally emerge along the way.

[MSmicrocaps @MSmicrocaps]

More details here https://t.co/ExneAS6duW

[MSmicrocaps @MSmicrocaps]

Four microcaps in live sessions at our Virtual Conference: $COV.V / $CVALF, $CDTI, $CNS.L / $DDOSF, $CLIR, plus our own stock pitch: $YTY.V / $ISEYF. We’ll take your questions throughout. October 27, 10:30 AM ET.

Full running order and the questions we’ll be asking below.

[MSmicrocaps @MSmicrocaps]

Read it here: https://t.co/H8dZnbJ5K6

[MSmicrocaps @MSmicrocaps]

Continuing our MSMqi Low Conviction series, Part 3 is now out, covering the final batch of names and what could move each one up in conviction.

Paid subscribers get access to our live dashboard, with every name ranked by conviction, plus themes, industries, P/E ratios, weekly movers and a running log of upgrades and downgrades.

[MSmicrocaps @MSmicrocaps]

MSMqi Weekly News | Oct 12–16, 2026

$SODI: Q2 2027 sales grew 42% to $5.66M; bookings rose 48% to $6.42M and backlog increased 29% to $24.11. EPS came in at $0.60 vs. a loss.

$BUKS: Subsidiary Avcon received FAA supplemental type certification for a Honeywell a ground-proximity-warning-system upgrade on Bombardier and Learjet aircraft. Pushed the stock back to near its 52 week high.

$DAKT: Cost restructuring expected to generate more than $18M in annualized pretax savings at full run rate by mid-2028.

The turnarounds

$CMTL: 2026 sales fell 17% to $249.6M, while adjusted EBITDA rose 26% to $20.6M and gross margin improved to 38.9% from 31.6%. Losing money. Still in the doghouse. We’ll see what the company looks like after a planned asset sale goes through.

$VELO: Q3 revenue is expected at $19.5M to $20.5M, up 43% to 51%. We assume they’re still losing money and, if so, are off-track projections they had mentioned in the past.

$DRX.TO: Secured C$82M in new steel-fabrication contracts across Canada and the U.S., primarily in hydroelectric infrastructure. Backlog stood at C$693.7M on July 31, excluding the newly announced awards.

$IDXG: Preliminary, unaudited Q3 revenue is expected at $10.1M–$10.4M, up 15% to 18% YoY and 11%–14% sequentially.

[MSmicrocaps @MSmicrocaps]

@onecentinvest Confirmation bias is going to cause so many investors to lose money.

[MSmicrocaps @MSmicrocaps]

Our next virtual conference is here: October 27.

Four companies and one investor pitch. Stay tuned for details. Special appearances by @bmb21 @MicrocapDr @Diego_La_Torre_

[InfoArb Monitor @InfoArbMonitor]

Plenty of boring stocks approaching 52 week highs in the @MSmicrocaps Index - as the mini correction in tech and AI dominates headlines.

🇺🇸 $SCIA $MG $AMNF $FACO $BUKS $KRT $RCEL
🇨🇦 $FTG.TO $OML.V $BRM.V

$MG merger arb is interesting. $SCIA is quietly inching higher.

@leevalueroach likes $BUKS
@bmb21 likes $AMNF
@Atrium_Research likes the 🇨🇦 lineup
@Diego_La_Torre_ likes $OML $BRM $BUKS

Make sure to follow all four of these very talented investors.

[Maj Soueidan @majgeoinvesting]

Just added two more @InfoArbMonitor hot button news monitors to help expedite and curate research👇
•Smart Capital Allocators - like $FTG.TO $SODI $PXHI $ITRN
•Zombie Index (shit cos) - too many to list, but hopefully they’re not in your portfolio or heavily weighted 🤐

[MSmicrocaps @MSmicrocaps]

We’ve been working through MSMqi stocks by conviction, from High to Mid and now Low. Part 2 of our Low Conviction series is out, covering what we like about each name and what would need to change for our conviction to rise.

Read the full breakdown here: https://t.co/KZiGyPNbKZ

Paid subscribers also get our live dashboard, which sorts every name by conviction, theme and industry, with P/E ratios, weekly movers and a running log of every upgrade and downgrade.

[MSmicrocaps @MSmicrocaps]

We're building a curated smaller-cap hunting ground, like no other, for serious investors who want more than just the next "pick." We're a little biased, but our Substack has become perfect place for quality focused investors/authors to hunt for ideas during market sloppiness, like what's currently going on in certain corners. Thanks for all the support that is making this possible. We won't let you down.

[Maj Soueidan @majgeoinvesting]

Four years in, and we’re starting to get some good KPI‘s on the MSMqi.

Remember, these are passive indexes to show that you can earn some nice returns by just being in the right curated universe. The challenge is trying to use active Mgmt. to improve returns or screw it up lol

[MSmicrocaps @MSmicrocaps]

Our September letter is ready. Our Microcap Quality indexes include 153 stocks across two passive indexes to help you hunt for Cos. hitting multibagger markers:

•2025 Index: YTD 23.8% CAGR 34%
•2022 Index: YTD 26.4% CAGR 19.6%
•YTD NASDAQ, S&P, Russell 2K: 15.6% 12.1% 17.4%