Shares screen as undervalued after prolonged decline.

Our thesis remains unchanged.

Expense guidance changes short-term earnings but not long-term fundamentals.

Shares jumped after results and are screening as overvalued.

Interim report by financial regulator is a hit to sentiment.

Investor day shows off potentially disruptive pricing model.

Long reinvestment runway supports our thesis on ASX technology company.

Investors overly optimisitc about future prospects.

Guidance reaffirmed and UK implementation on track.

Did shareholders overreact?