Deep Value: cash covers about 90% of the stock price

This company holds roughly $21M in cash and investments — about 90% of its entire stock-market value, based on its latest quarterly filing. You're paying very little for the actual business. Sometimes that's a genuine bargain or a takeover target, sometimes it's cheap for a reason. Not a buy signal on its own — always ask why it's this cheap.

LQWD Technologies

LQWD.V

Software - Application · Technology

Price

C$0.80

-0.05 (-5.88%)

Market Cap

C$25.9M

Exchange

Toronto Stock Exchange Ventures

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through May 31, 2026

How the score breaks down

Quality

Mixed

Growth

Mixed

Cash Flow

Weak

Stability

Data not available

Valuation

Data not available

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Share count rising — dilution

+279.5% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 7.0M (2022) → 26.6M (2026)

Winston Score History

The full picture

LQWD Technologies Corp is a small Canadian technology company that helps businesses connect to the Bitcoin Lightning Network. The Lightning Network is a system built on top of Bitcoin that allows people to send payments almost instantly and with very low fees. LQWD provides the software and infrastructure that companies, payment processors, and developers need to send and receive Bitcoin payments quickly.

The company earns revenue by charging fees for routing payments through its network nodes and by offering software services to clients who want Lightning Network access. LQWD operates globally, as the Lightning Network itself has no borders, but the company is headquartered in Canada and listed on the TSX Venture Exchange. Its gross margin is very high, which is typical for software businesses, but its operating losses are extremely large relative to revenue, meaning it spends far more than it earns today. The key risk is that LQWD is a very early-stage company in a niche market, and its survival depends on Bitcoin adoption growing significantly and the company raising enough capital to reach profitability.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+312.0% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

-163.2% YoY

YoY Growth Rate

Earnings declining

R&D Spend

C$472,059/ year

↑ Rising (+42% vs prior year)

>1,000% of revenue

106.8x the sector average (15%)

Investing heavily in future products and technology

Insider Activity

5.1%ownership

Insiders own a meaningful stake in the company

Cash Runway

~5 years

C$27M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

C$27M cash & investments at current burn rate

Revenue accelerating

LQWD Technologies grew revenue 312% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

59.4%

Premium pricing power — 59.4% gross margin

Profit after running costs

Operating Margin

-37373.6%

Losing money on operations — -37373.6%

Return on the money invested

ROCE

-25.0%

Weak — -25.0% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

+258.5%

Fast-growing sales (+258.5% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

-18098.9%

Burning cash (-18098.9%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

N/A

Data not available

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

no trend

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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