Ocado Group PLC (LSE:OCDO) will report full-year results on 29 February, also known as leap day, with investors hoping the company will help the shares jump higher after a 45% fall from last summer's spike on the back of a rare profit and a legal settlement.
At the end of July, after the grocery delivery specialist posted a half-year underlying profit and then settled a legal spat with Sweden's AutoStore, the shares climbed above £10 for the first time in over a year.
Since then, despite a short-lived boost when Goldman Sachs highlighted the potential of growth in non-food sectors, the stock has slid back down to just above £5, more than 80% lower than its peaks at the height of the pandemic.
Ocado Retail, its joint venture with Marks and Spencer, last month reported a record Christmas and investors in both companies frequently question the shape of the ongoing relationship between Ocado Group and M&S, a potential earn-out and Ocado's potential sale of its half of the JV to M&S.
These results could provide an answer.
However, this JV is a side story for Ocado Group, with its bumper valuations from previous years almost entirely based on its being a technology company, not a retailer.
The bigger questions for investors are about its technology and services arm, Ocado Technology Solutions, which should therefore be the main focus of next week's results.
At the half year stage, Ocado had built 25 operating customer fulfilment centres (CFCs) for overseas customers at the end of the period, and said two CFC openings that had been expected in the second half for Australia’s Coles were under review, but a new UK centre was due to open in the period.
Analysts at Barclays recently flagged the "key risk" of a potential slower roll-out from US client Kroeger as proposed merger with Albertsons, though said "in the long term, it could be a positive".