Small-cap

VTech makes educational toys, telecom devices, and electronics for third parties. The long-term appeal comes from strong cash generation, low leverage, and durable brands, while the central question is whether stable operations can offset a modest growth profile.

Progress Software sells behind-the-scenes enterprise tools for app development, IT operations, and secure workflows. What stands out is the mix of recurring revenue, solid margins, and unusually strong cash flow, set against a valuation that has reset sharply lower.

Donnelley Financial Solutions provides software and services for SEC reporting, fund compliance, and capital-markets transactions. The business combines essential regulatory workflows with solid cash generation, while its shift toward recurring software remains the key point to watch.

Daktronics builds large digital displays, scoreboards, and visual systems for sports, commercial, and public infrastructure markets. Recent results show stronger sales, healthier cash generation, and a very light debt load, making its recovery worth a closer look.

Amplitude provides software that helps companies understand user behavior across apps and websites, then improve digital products through analytics, testing, and activation. Growth has stabilized, cash flow has turned positive, and the platform is becoming broader and more relevant.