MeritValue

ALR Technologies SG Ltd.

ALRTFdata completeness 63%6 fiscal years on file

Data notes: no data for concept 'capex'; no data for concept 'totalDebt'; no data for concept 'investmentsAtFairValue'; no data for concept 'netInvestmentIncome'; no data for concept 'depreciationAmortization'; no data for concept 'gainsOnRealEstateSales'; no data for concept 'realEstateImpairment'; no data for concept 'dividendsPaid'; no data for concept 'incomeTaxExpense'

i. The business — what you’d actually own
FigureFY 2021FY 2022FY 2023FY 2024FY 2025
Revenue$7,4681$2,3672$25,5363——
Net income−$8.44M4−$10.6M5−$7.47M6−$15.9M6−$22.1M6
Operating cash flow−$2.22M7−$2.57M8−$1.62M9−$1.54M9−$1.87M9
Capital expenditure—————
Free cash flow (derived)—————
Total debt—————
Cash & equivalents$115,92210$148,62811$59,08211$40,65711$20,30511
Diluted shares542.7M548.1M581.0M598.9M607.0M

Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).

ii. Your slice — ownership made literal
If you owned
shares
Net assets behind them
−$0.66
your share of equity
Profit it earned you last year
−$0.36
Free cash flow it threw off
—
Debt you’d be carrying
—

10 shares is a claim on −$0.66 of net worth that earned you −$0.36 last year.

iii. Is this a good business?
Moat signal · return on equity
— avg · 5y

Not enough data in the filings for a return-on-capital reading.

seeing a moat in the numbers →
Management signal · capital allocation
+12% shares · 5y

Share count is up 12% over 5 years — owners have been diluted. Worth asking what they got for it.

reading capital allocation →

Signals, not verdicts — read from the filings above. Numbers don’t prove a moat; they show its footprint. You decide.

iv. What it’s worth — engine v0.5.0
DCF · Growth Exit 10Y
not applicable
only 0 years of FCF (need ≥3) — model not applicable
DCF · Growth Exit 5Y
not applicable
only 0 years of FCF (need ≥3) — model not applicable
Earnings Power Value
not applicable
normalized (5y-median) earnings non-positive — EPV undefined
Graham Number
not applicable
diluted EPS missing or non-positive — Graham Number undefined

Different models answer different questions — which to trust when →

Sources — the receipts
  1. 20-F/A · period ending 2021-12-31 · accession 0001903596-24-000395 (RevenueFromContractWithCustomerExcludingAssessedTax)
  2. 20-F/A · period ending 2022-12-31 · accession 0001903596-25-000234 (RevenueFromContractWithCustomerExcludingAssessedTax)
  3. 20-F · period ending 2023-12-31 · accession 0001903596-26-000182 (RevenueFromContractWithCustomerExcludingAssessedTax)
  4. 20-F/A · period ending 2021-12-31 · accession 0001903596-24-000395 (NetIncomeLoss)
  5. 20-F/A · period ending 2022-12-31 · accession 0001903596-25-000234 (NetIncomeLoss)
  6. 20-F · period ending 2023-12-31 · accession 0001903596-26-000182 (NetIncomeLoss)
  7. 20-F/A · period ending 2021-12-31 · accession 0001903596-24-000395 (NetCashProvidedByUsedInOperatingActivities)
  8. 20-F/A · period ending 2022-12-31 · accession 0001903596-25-000234 (NetCashProvidedByUsedInOperatingActivities)
  9. 20-F · period ending 2023-12-31 · accession 0001903596-26-000182 (NetCashProvidedByUsedInOperatingActivities)
  10. 20-F/A · period ending 2021-12-31 · accession 0001903596-25-000234 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)
  11. 20-F · period ending 2022-12-31 · accession 0001903596-26-000182 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)