Can you comment on the recent earnings and the outlook going forward?
VMD is now trading at 24x times' Forward P/E. In 1Q-2023, VMD’s revenue grew 31% to $39.6M, beating the estimates of $38.5M and EPS was $0.04, missing estimates of $0.05. The balance sheet is strong, with net cash of $23M. The trailing twelve-month cash flow of $31M, grew nicely around 14% compared to $28M last year. The company’s growth has reaccelerated recently and VMD started repurchasing shares recently, indicating management believes shares are undervalued. We are warming up to the name, we think the valuation is quite cheap given the growth profile.