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Buy Day today: Neutral (58) Mixed market breadth · no major macro event
DGNX

Diginex Limited

Industrials · Consulting Services · listed since 2025

1.30$ -13.2% vs. previous close Closing price · As of: Aug 14, 2026
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Assessment

Our Rating

A journalistic assessment by our editorial team at the time of the deep dive — it rates the company, not the entry point. Not investment advice and not a solicitation to buy or sell.

Substance risk

We found at least one documented issue that threatens the company itself — regardless of how the stock is currently valued.

Why this colour

The quality rating stands at red because several substance risks are documented — and they come from the August 13, 2026 annual report itself, not from the share price. Auditor UHY LLP added a going concern emphasis to its report; operating cash burn of $14.11 million faces $4.87 million of cash, roughly four months of runway, and the positive net current assets consist almost entirely of a loan to the company's own takeover target whose June instalment was still unpaid on the filing date. Add a listing risk without a net: no cure period is available until April 28, 2027 if the price slips back below one dollar. None of this is a statement about the price of the stock — a cheaper share would change none of these points. It is a statement about the company: whether it continues in this form for another twelve months depends on payments that still have to arrive. Yellow would require a dependable financial base, and where the evidence sits between two levels the more cautious one applies. The decision is yours.

What the thesis turns on

Assessment: Opportunities & Risks

Diginex sells sustainability reporting software into a market created by legislation — and in fiscal 2026 it bought three companies, paying almost entirely with its own stock. The annual report filed August 13, 2026 shows the price: $3.62 million of revenue, a $31.15 million net loss, $14.11 million of operating cash burn, $4.87 million of cash and an audit report carrying a going concern emphasis. The share count rose 72 percent to 50,130,130 in roughly four months, an agreement for a further 1,133,333,333 shares sits on the table, and a single block of warrants always reaches 51 percent of the whole. Investing here buys less of a software business than an open question about your own stake. Not investment advice.

Business model and market

Sustainability reporting software addresses a regulator-created need, and Diginex serves it with a finished product suite. Predictable subscription revenue rose to $2.74 million in fiscal 2026 from $0.44 million two years earlier, and deferred revenue to $2.37 million. HSBC has referred its own clients to diginexESG since July 2022, extended to the end of 2027.

Quality of growth

Revenue rose by $1.58 million to $3.62 million in fiscal 2026 — but at least $1.2 million of that came from the acquisitions of Matter ($0.6 million since purchase) and Plan A ($0.6 million since purchase). Organic growth was therefore considerably slower, and headcount tripled from 32 to 114 in the same stretch.

Financial substance

The audit report dated August 13, 2026 carries a going concern emphasis: net loss $31.15 million, operating cash burn $14.11 million, cash $4.87 million — roughly four months of runway. The reported net current assets of $6.26 million consist almost entirely of a loan to the company's own takeover target Resulticks ($6.32 million net).

Dilution and capital structure

The share count rose from 29,130,130 (March 31, 2026) to 50,130,130 (August 10, 2026), up 72 percent in roughly four months — yet the underlying placement is paid only in instalments running to March 31, 2027. Add 20 million new warrants at $1.00 and 4,170,520 founder warrants that always reach 51 percent of shares outstanding (a $28.55 million liability).

Balance sheet quality

The three fiscal 2026 acquisitions left $37.60 million of goodwill and $6.63 million of intangibles on the balance sheet — together more than twelve times the $3.62 million of annual revenue. Goodwill of $7.0 million on Matter was written off in the purchase year itself, because the company's own share price had risen between signing and closing.

Listing and litigation

After the 8-for-1 consolidation of April 28, 2026 the 180-day cure period is unavailable until April 28, 2027: if the closing bid price again falls below $1.00 for 30 trading days, Nasdaq issues a delisting determination immediately. Three purported class actions are pending (filed March 24, April 13 and July 23, 2026; only the third served, on August 5, 2026), and the SEC declared a registration statement abandoned on July 29, 2026.

Worth Noting

Diginex reached our research list through a review of new EDGAR filings: an SEC order of July 29, 2026 declaring registration statement 333-289001 abandoned, and the July 31, 2026 notification that the annual report would be late. The Form 20-F followed on August 13, 2026 and is the basis of this analysis.

The U.S. securities regulator treats Diginex as a foreign private issuer, so it files no Form 10-K and no quarterly reports on Form 10-Q, but an annual report on Form 20-F plus interim reports on Form 6-K. The fiscal year ends March 31, so comparisons with calendar-year filers need shifting accordingly. Half-year figures appear as an exhibit to a Form 6-K, most recently on December 9, 2025 for the six months to September 30, 2025.

All price and share figures are restated for the 8-for-1 consolidation of April 28, 2026, as the annual report itself does. The valuation anchors quoted ($1.00 from the July 2026 private placement, $1.32 from the April 2026 Resulticks agreement) come from the filings and are deliberately not intraday prices. On identity: the SEC register records no former names for CIK 0002010499, and the ticker DGNX has belonged to this company since its January 2025 IPO.

Read the Full Deep Dive Diginex: $3.6 Million in Revenue — and a $1.5 Billion Purchase Agreement Payable in Stock Diginex sells sustainability reporting software and bought three companies in fiscal 2026, paying almost entirely with its own shares. The annual report filed with the U.S. securities regulator, the SEC, on August 13, 2026 shows what that cost: $3.62 million of revenue, a net loss of $31.15 million, $4.87 million of cash and an audit report carrying a going concern emphasis of matter. Running alongside is a purchase agreement worth $1.5 billion, payable in 1,133,333,333 new shares against 50,130,130 outstanding. And above all of it sits a warrant that does not grant a fixed number of shares but always 51 percent. We read the filings line by line and check who ends up owning what. Read the analysis →

Stock Watch

This analysis is as of August 14, 2026. Stock Watch will tell you what's changed at DGNX since then.

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Price history

Chart

Interactive price chart (TradingView).

52-week range: 0.44 $ to 65.20 $ · Last price: 1.30 $ (As of: August 14, 2026)

Key figures

Key figures at a glance

Every figure we hold for this stock, grouped by topic. The question mark next to a label explains what the number means.

Basics

Market Cap ?The value of the entire company on the market: share price times total shares outstanding. 0.04$B
Shares Outstanding ?Total number of shares issued. Price times share count gives market cap. –
Float ?Share of stock freely tradable on the market — not locked up in the hands of founders, insiders, or major shareholders. –
Beta ?Volatility versus the overall market: 1 = moves like the market, 2 = twice as much, under 1 = calmer than the market. –

Performance

Perf. 1M ?Price performance over the last month. 17.90%
Perf. 3M ?Price performance over the last 3 months. 38.90%
Perf. 6M ?Price performance over the last 6 months. 120.00%
YTD Performance (%) ?Price performance since the start of the year (Year to Date). -68.35%
52-Week-High Distance ?How far the price sits below its highest point over the last 52 weeks. 0% means the stock is at its year high. -98.0%
Perf. 1Y ?Price performance over the last 12 months. -97.60%
Perf. Since Inception ?Price performance since the first available trading day (01/22/2025) — with a complete history, that is since the IPO. -76.80%

Technical Indicators

MA 38 Days ?Moving average of the last 38 trading days: the smoothed price path. A price above it signals short-term strength. 1.30$
MA 50 Days ?Moving average of the last 50 trading days — the most widely watched medium-term trend line. 1.20$
MA 200 Days ?Moving average of the last 200 trading days — the dividing line between a long-term uptrend and downtrend. 3.50$
RSI (14) ?Relative Strength Index over 14 days, scale 0 to 100: above 70 counts as overbought, below 30 as oversold. A hint on timing, not a verdict on the company. 46.4
Volatility 30 Days ?Price swings over the last 30 trading days, annualized. The higher the value, the more the price fluctuates. 120.7%
Volatility 250 Days ?Price swings over the last 250 trading days (roughly one market year), annualized. 166.2%

Calculated from the price history · as of 08/15/2026

Valuation

P/E ?Price-to-earnings ratio: how many years of profit does the stock cost? The lower, the cheaper the valuation. No earnings means no P/E. –
Forward P/E ?P/E based on expected earnings for the next 12 months instead of past earnings — analysts' bet on the future. –
PEG ?P/E divided by expected earnings growth: puts valuation in relation to growth. Around 1 is considered fair, well above that is pricey. –
P/B ?Price-to-book ratio: market value relative to book equity. 4.6
P/S ?Price-to-sales ratio: market value divided by annual sales. Important for companies that aren't (yet) profitable. –
EV/EBITDA ?Enterprise value including debt (EV) relative to operating profit before depreciation and amortization (EBITDA) — more comparable than P/E because debt counts too. Extreme values arise when EBITDA is near zero. –
Price/FCF ?Market value divided by free cash flow: how many years of freely available cash does the stock cost? More honest than P/E because cash flow is harder to dress up. –

Profitability

Gross Margin ?Gross margin: what's left of sales after only direct production costs are deducted — the product's pricing power. –
EBIT Margin ?EBIT margin: operating profit as a percentage of sales — the earning power of the core business before interest and taxes. -266.4%
Net Margin ?Net margin: what's left of sales as profit after ALL costs, interest, and taxes. –
Return on Equity ?Return on equity: how much profit does the company generate per year on shareholders' equity? 0.0%
Return on Assets ?Return on assets: how much profit the company generates from its total assets (equity and debt combined). –

Balance Sheet & Safety

Equity Ratio ?Equity ratio: equity as a share of total assets. The higher, the more resilient the balance sheet. 73.0%
Debt/Equity ?Leverage ratio: financial debt divided by equity. Under 1 is generally seen as solid; negative values mean negative equity. 0.03
Altman Z″ ?Edward Altman's bankruptcy early-warning score. We use the Z″ variant, built from four balance-sheet ratios — it is designed for service companies and non-manufacturers and uses book value instead of market value. On that scale: below 1.1 = danger zone, 2.6 and up = safe zone, in between a grey area. Because the classic Altman Z is calculated differently, the two numbers are not directly comparable. The formula does not fit banks, insurers, or real-estate stocks. warning zone -11.37
Piotroski ?Balance-sheet health check by Joseph Piotroski: 9 yes/no criteria on profit, cash flow, leverage, and efficiency. 7+ is very solid, under 3 is a red flag. 4 out of 9

Growth

Sales Growth Last Quarter ?Sales growth in the most recently reported quarter versus the same quarter a year ago (YoY). 292.70%
EPS Growth Last Quarter ?Growth in earnings per share in the most recently reported quarter versus the same quarter a year ago (YoY). 0.00%
Sales Growth (Year) ?Sales growth in the last fiscal year versus the year before. 57.03%
Forward Sales Growth ?Sales growth analysts expect over the next 12 months — an estimate, not a guarantee. –
Forward EPS Growth ?Earnings-per-share growth analysts expect over the next 12 months — an estimate, not a guarantee. –

Dividend

No dividend data is available for this stock yet.

Quality & Screener

Stage ?Weinstein phases 1 through 4: 1 = basing, 2 = uptrend (the only buy phase), 3 = topping, 4 = downtrend. Measured against the 30-week line. –
RS Rating ?Relative strength from 1 to 99: an RS of 95 means the stock has outperformed 95% of all stocks. –
EPS Rating ?Earnings growth rating from 1 to 99 versus all stocks — high values mean above-average earnings growth. –
Fundamental Rating ?Our own Fundamental Rating: 0 to 100 points with an A+ to F grade. 50 points is the average across the universe, 100 the best possible score. It scores growth, earnings surprises, analyst estimates, margins, cash flow, and balance-sheet safety — every stock percentile-ranked against all others. Grades: A+ from 95, A from 75, B from 55, C from 45, D from 25, E from 5, F below. C (50 out of 100)

Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.

Comparison

Industry comparison

The stock alongside the largest companies in the same group. The median row is the middle value of the companies shown above — not of the whole industry.

Industry: Consulting Services

Industry comparison
Company Market cap ($B) P/E EV/EBITDA Gross Margin % EBIT Margin % Sales Growth (Year) % Perf. 1Y %
Diginex Limited DGNX 0.0 – – – -266.4 57.0 -97.6
Verisk Analytics Inc VRSK 23.0 28.5 32.6 70.2 45.0 6.6 -31.5
Equifax Inc EFX 22.0 33.3 13.4 55.5 17.5 6.9 -26.3
Booz Allen Hamilton Holding BAH 9.3 11.7 9.4 22.4 9.5 -6.4 -26.3
FTI Consulting Inc FCN 4.6 18.1 12.6 31.8 8.5 2.4 -9.3
Huron Consulting Group Inc HURN 2.5 26.0 14.0 32.7 9.3 14.3 14.3
ICF International Inc ICFI 1.5 – 11.0 37.2 – -7.3 -9.6
CRA International Inc CRAI 1.1 23.9 13.4 29.0 – 9.3 -7.9
Roma Green Finance Limited ROMA 0.5 – – – -194.8 -21.9 234.8
Median of companies shown 2.5 25.0 13.4 32.7 9.3 6.6 -9.6

Based on the most recently reported figures. Only stocks from the same trading venue are lined up, so the market caps are counted in one currency. Compare in a chart →

Screening

Appears in These Scanners

This stock currently matches 2 of our scanner strategies — each hit links to the scanner.

Research

Risk & Weakness

Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. Scanners marked in red are red-flag signals (risk/short scanners) — appearing there is not a seal of approval. View all scanners

AI classification

AI Rating

Sells AI

Diginex verkauft Software für Nachhaltigkeitsberichte, deren Kern der Jahresbericht selbst als KI beschreibt: eine KI-Maschine treibt Datenaufnahme und Entwurf der Offenlegungen, ein KI-gestützter Publisher erstellt die Berichte, die zugekaufte Plan A ist eine KI-Plattform und Matter arbeitet mit einer eigenen ML-Extraktionsstrecke — auf dieses Softwaregeschäft entfielen im Geschäftsjahr 2026 3,31 der 3,62 Millionen US-Dollar Umsatz (Abo plus Daten).

View the full file — quotes, sources, reviewed filings
„The AI engine processes vast amounts of unstructured corporate data, internal documents, and historical files to rapidly execute a comprehensive gap analysis, intelligently mapping a company’s operational profile directly against IFRS and ISSB disclosure mandates."

Die KI-Maschine verarbeitet große Mengen unstrukturierter Unternehmensdaten, interner Dokumente und historischer Dateien, um in kurzer Zeit eine umfassende Lücken-Analyse durchzuführen und das Tätigkeitsprofil eines Unternehmens unmittelbar den Offenlegungspflichten nach IFRS und ISSB zuzuordnen.

20-F · 2026-08-13 · View SEC filing

„Once data collection is finalised, the AI-powered publisher drives automated end-to-end reporting specifically tailored to IFRS and ISSB compliance."

Sobald die Datenerhebung abgeschlossen ist, steuert der KI-gestützte Publisher die durchgängig automatisierte Berichterstellung, eigens zugeschnitten auf die Einhaltung von IFRS und ISSB.

20-F · 2026-08-13 · View SEC filing

„Plan A is one of Europe’s leading Greentech providers, offering an AI-powered platform that automates carbon accounting and ESG reporting for over 220 clients globally."

Plan A ist einer der führenden europäischen Greentech-Anbieter und stellt eine KI-gestützte Plattform bereit, die CO₂-Bilanzierung und Nachhaltigkeitsberichte für weltweit über 220 Kunden automatisiert.

20-F · 2026-08-13 · View SEC filing

„Matter utilizes a proprietary, machine learning (ML)-based extraction pipeline that automates the identification and parsing of complex corporate metrics."

Matter nutzt eine eigene, auf maschinellem Lernen beruhende Extraktionsstrecke, die das Auffinden und Auswerten komplexer Unternehmenskennzahlen automatisiert.

20-F · 2026-08-13 · View SEC filing

Filings Reviewed: 20-F 2026-08-13 · 6-K 2026-08-10 · 6-K 2026-07-31 · 6-K 2026-05-29 · 20-F/A 2026-02-09 · 6-K 2025-12-09

Rated on August 15, 2026 · How the Rating Is Built

The company

About the Company

Diginex Limited, an investment holding company, engages in the provision of environmental, social, and governance (ESG) reporting solution services, advisory, and developing customization solutions in Hong Kong, the United Kingdom, and the United States. Its suite of products include diginexESG, a cloud based ESG platform that offers end to end reporting from topic discovery, data collection, and collaborative report publishing services; diginexLUMEN that allows companies to execute supply chain risk assessments, and monitoring; diginexAPPRISE, a multilingual application that collects standardized and actionable data related to working conditions directly from workers in supply chains; diginexCLIMATE, a carbon footprint calculator based on the GHG protocols; diginexADVISORY that provides clients strategy and advisory support for credible reporting; and diginexPARTNERS that develops white label versions of diginexESG and diginexLUMEN. The company has a strategic alliance with Sustainability RegTech solutions to deliver technology-driven solutions for sustainable finance, empowering organizations to navigate the evolving landscape of environmental, social, and governance (ESG) requirements. The company has a strategic alliance with EVIDENT Group to enable Diginex's advanced sustainability data capabilities to be embedded directly within EVIDENT's platform for asset managers and investment partner community, addressing the escalating need for verifiable ESG metrics in the rapidly expanding sector of tokenized real-world assets. Diginex Limited was founded in 2020 and is headquartered in London, United Kingdom.

IPO Year
2025

Data as of: August 14, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)

Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.

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