Member Info for CEOAdam

You've never heard of bonus schemes giving out company shares?

They could have just paid cash to employees and to the franchise buyouts.

Watr bought there own shares. This is still a good thing.

They do benifit the share holder. Other companies dilute issue employee shares. Watr are buying them back.

The share buyback doesn't bother me. Some companies just issue shares and dilute share holders. At least Watr has the cash to purchase them.

Even if U.S. platform multiples compress from 15x to 12x, WATR would still get a higher multiple than its current 8x.

U.S. Listing = Higher Valuation Multiples

NASDAQ typically values platform/recurring revenue companies at 12-15x EBITDA, sometimes higher.

AIM-listed companies often trade at 6-8x EBITDA because:

Lower liquidity

Limited institutional investor access

Lower analyst coverage

➡️ Re-listing or dual-listing in the U.S. would instantly justify a higher multiple on their earnings.

2️⃣ Re-Rating Means a Share Price Lift

🔎 Example (Pre-Re-Rate):

Current EBITDA (Adjusted): £15M

AIM multiple (say 8x) = £120M Enterprise Value

Subtract net debt (£11M) = £109M equity value

➡️ Share price = £6.05/share (at 18M shares)

🔎 Example (Post-Re-Rate, NASDAQ):

Same EBITDA (£15M)

NASDAQ multiple (say 12x) = £180M Enterprise Value

Subtract net debt (£11M) = £169M equity value

➡️ Share price = £9.38/share

➡️ That’s +55% just on multiple expansion—without ANY additional growth.

It's a growth stock and doing that very well. Dividends are not yet paid out. If you need a dividend stock, then find another stock.

Excellent. Also a foot hold in the USA markets.

Another Share buy back today. It stops the sellers taking advantages, being now and again. Lovely.

There you go Taser. Share buy back. Lovely.

Some bigger trades coming in today. Patience should bring reward.

I feel we are on the way up!

Great rns.

Looking very good

Lovely. Not only do we have less than 20 million shares in issue. We are buying them back. Add this to double digit growth. This share could go up very quickly.

Well done. Going from strength to strength.

What make the seline well different compared to Pensacola funding?

Trading at 58.8% below our estimate of its fair value

Earnings are forecast to grow 12.52% per year

Earnings have grown 15.9% per year over the past 5 years

Looking forward to the share buy back that was passed at the AGM. This is much much better than shares that get issued and dilute the share price. Great times ahead.

Very happy with these results for just 1 quarter of the year.