— About —
Micro Math Capital is independent equity research on quality micro and small-cap businesses — the ones built to compound for a decade before the world catches on.
We publish long-form research on small and micro-cap companies across North America. Our format is built around the kind of work professional investors do but most retail readers never see: read the filings, talk to operators and customers, rebuild the model, then write the report. Our subscribers read us because the math has to work before we write a word.
We’re based across North America and cover companies in mining, energy, biotech, software, and broader industrials. Every report we publish discloses our position and any sponsorship up front.
Founder & Lead Analyst
Chase founded Micro Math Capital after years of small-cap research across mining, energy, and broader resource sectors. He focuses on durable advantages, capital allocation, and the long tail of public companies most analysts ignore.
Reach Chase at chase@apollorelations.com.
Research Analyst
Nicole leads research across biotech, AI, and software coverage at Micro Math Capital. Her work focuses on the fundamentals — unit economics, product moats, and management quality — that ultimately decide whether a small-cap compounds.
Reach Nicole at nicole@apollorelations.com.
Every report we publish follows the same four-stage process, refined over hundreds of company conversations.
We start with the long tail — companies under $1B that pass our quality screens for growth, margins, and capital efficiency. Most of the universe is filtered out before we ever pick up the phone.
Before the model, the call. We interview operators, customers, suppliers, and competitors. The argument is built from people, not from a spreadsheet.
Three-statement model from scratch. Unit economics, capital allocation history, and the footnotes the bankers hope you’ll skip.
Reports go out only when the work is finished. We disclose our positions, then update readers as the thesis develops.
Micro Math Capital is published under the Apollo Shareholder Relations umbrella. Apollo is the investor relations and research distribution firm that handles distribution, compliance review, and infrastructure for our research. Apollo also works with some of the companies we cover on the IR side — which is why some of our reports are sponsored, and why every sponsored report is labelled as such. The editorial side and the IR side are kept separate. More detail in our disclaimer.
