RE:Surprisedretired, I believe MDF is indeed undervalued by the market, and yes, a number of small cap tech stocks have taken a hit recently, but I consider MDF to be superior given MDF's current share price.
I really like the MDF CEO, and MDF has entered into a number of service agreements over the past year or so, including a big one with Aldi, so I expect recurring revenue to grow from quarter to quarter as these services get up and running full-throttle, SaaS fees are collected, and the company grows both organically and by tuck-in acquisitions.
I suspect many investors don't yet realize how the new CEO has dramatically changed the company to focus on just two potentially very lucrative businesses (Unified Commerce and Strategic Sourcing). I like both these spaces, so my belief is that MDF will eventually be rewarded with a significantly higher share price provided they execute well.