Anuncio • May 08
Madkom SA, Annual General Meeting, Jun 09, 2026 Madkom SA, Annual General Meeting, Jun 09, 2026, at 10:00 Central European Standard Time. Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to zł3.20, the stock trades at a trailing P/E ratio of 7.1x. Average trailing P/E is 20x in the Software industry in Poland. Total returns to shareholders of 60% over the past three years. Valuation Update With 7 Day Price Move • Mar 10
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to zł4.42, the stock trades at a trailing P/E ratio of 9.7x. Average trailing P/E is 21x in the Software industry in Poland. Total returns to shareholders of 122% over the past three years. Valuation Update With 7 Day Price Move • Feb 16
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to zł3.56, the stock trades at a trailing P/E ratio of 7.9x. Average trailing P/E is 22x in the Software industry in Poland. Total returns to shareholders of 65% over the past three years. Valuation Update With 7 Day Price Move • Jan 02
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to zł2.48, the stock trades at a trailing P/E ratio of 5.5x. Average trailing P/E is 24x in the Software industry in Poland. Total returns to shareholders of 22% over the past three years. Reported Earnings • Nov 20
Third quarter 2025 earnings released Third quarter 2025 results: Revenue: zł11.9m (up 245% from 3Q 2024). Net income: zł1.22m (up zł1.32m from 3Q 2024). Profit margin: 10% (up from net loss in 3Q 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Sep 25
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to zł3.04, the stock trades at a trailing P/E ratio of 15.8x. Average trailing P/E is 15x in the Software industry in Poland. Total returns to shareholders of 79% over the past three years. New Risk • Sep 02
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings have declined by 6.2% per year over the past 5 years. Market cap is less than US$10m (zł16.5m market cap, or US$4.50m). Minor Risks Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). Revenue is less than US$5m (zł17m revenue, or US$4.5m). New Risk • Aug 09
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Polish stocks, typically moving 10% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (10% average weekly change). Earnings have declined by 6.2% per year over the past 5 years. Market cap is less than US$10m (zł12.3m market cap, or US$3.36m). Minor Risk Revenue is less than US$5m (zł17m revenue, or US$4.5m). Anuncio • May 13
Madkom SA, Annual General Meeting, Jun 09, 2025 Madkom SA, Annual General Meeting, Jun 09, 2025. New Risk • Feb 25
New major risk - Revenue and earnings growth Earnings have declined by 6.2% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (15% average weekly change). Earnings have declined by 6.2% per year over the past 5 years. Market cap is less than US$10m (zł10.4m market cap, or US$2.65m). Minor Risk Revenue is less than US$5m (zł17m revenue, or US$4.2m). New Risk • Feb 23
New major risk - Revenue and earnings growth Earnings have declined by 6.2% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (15% average weekly change). Earnings have declined by 6.2% per year over the past 5 years. Market cap is less than US$10m (zł9.68m market cap, or US$2.43m). Minor Risk Revenue is less than US$5m (zł17m revenue, or US$4.1m). New Risk • Dec 02
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 115% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Market cap is less than US$10m (zł8.06m market cap, or US$1.97m). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.4% net profit margin). Revenue is less than US$5m (zł18m revenue, or US$4.5m). New Risk • Nov 29
New minor risk - Revenue size The company makes less than US$5m in revenue. Total revenue: zł18m (US$4.5m) This is considered a minor risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Market cap is less than US$10m (zł8.06m market cap, or US$1.98m). Minor Risk Revenue is less than US$5m (zł18m revenue, or US$4.5m). Reported Earnings • Aug 19
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: zł4.08m (down 52% from 2Q 2023). Net loss: zł123.4k (down 119% from profit in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Aug 16
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to zł1.67, the stock trades at a trailing P/E ratio of 8.4x. Average trailing P/E is 20x in the Software industry in Poland. Total loss to shareholders of 50% over the past three years. Anuncio • May 25
Madkom SA, Annual General Meeting, Jun 18, 2024 Madkom SA, Annual General Meeting, Jun 18, 2024. Reported Earnings • May 20
First quarter 2024 earnings released First quarter 2024 results: Revenue: zł3.53m (down 40% from 1Q 2023). Net loss: zł655.9k (loss widened 121% from 1Q 2023). Valuation Update With 7 Day Price Move • May 09
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to zł1.47, the stock trades at a trailing P/E ratio of 5.4x. Average trailing P/E is 20x in the Software industry in Poland. Total loss to shareholders of 62% over the past three years. Anuncio • Mar 23
Madkom SA, Annual General Meeting, Apr 17, 2024 Madkom SA, Annual General Meeting, Apr 17, 2024, at 10:00 Central European Standard Time. Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to zł2.08, the stock trades at a trailing P/E ratio of 7.7x. Average trailing P/E is 23x in the Software industry in Poland. Total loss to shareholders of 49% over the past three years. Reported Earnings • Feb 16
Full year 2023 earnings released: EPS: zł0.27 (vs zł0.086 in FY 2022) Full year 2023 results: EPS: zł0.27 (up from zł0.086 in FY 2022). Revenue: zł27.7m (up 6.8% from FY 2022). Net income: zł1.37m (up 213% from FY 2022). Profit margin: 4.9% (up from 1.7% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 24% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to zł1.77, the stock trades at a trailing P/E ratio of 11.6x. Average trailing P/E is 27x in the Software industry in Poland. Total loss to shareholders of 13% over the past three years. Reported Earnings • Nov 19
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: zł6.01m (flat on 3Q 2022). Net loss: zł22.2k (loss narrowed 59% from 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Oct 16
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to zł1.87, the stock trades at a trailing P/E ratio of 13.6x. Average trailing P/E is 23x in the Software industry in Poland. Total returns to shareholders of 10.0% over the past three years. Reported Earnings • Aug 20
Second quarter 2023 earnings released: EPS: zł0.13 (vs zł0.04 in 2Q 2022) Second quarter 2023 results: EPS: zł0.13 (up from zł0.04 in 2Q 2022). Revenue: zł8.44m (up 24% from 2Q 2022). Net income: zł664.4k (up 231% from 2Q 2022). Profit margin: 7.9% (up from 2.9% in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Aug 17
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to zł2.30, the stock trades at a trailing P/E ratio of 49.2x. Average trailing P/E is 25x in the Software industry in Poland. Total returns to shareholders of 15% over the past three years. Anuncio • May 26
Madkom SA, Annual General Meeting, Jun 20, 2023 Madkom SA, Annual General Meeting, Jun 20, 2023, at 10:00 Central European Standard Time. Valuation Update With 7 Day Price Move • May 18
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to zł1.81, the stock trades at a trailing P/E ratio of 20.8x. Average trailing P/E is 23x in the Software industry in Poland. Total returns to shareholders of 23% over the past three years. Valuation Update With 7 Day Price Move • Mar 28
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to zł2.31, the stock trades at a trailing P/E ratio of 26.6x. Average trailing P/E is 21x in the Software industry in Poland. Total returns to shareholders of 131% over the past three years. Reported Earnings • Feb 19
Full year 2022 earnings released: EPS: zł0.087 (vs zł0.15 in FY 2021) Full year 2022 results: EPS: zł0.087 (down from zł0.15 in FY 2021). Revenue: zł25.9m (up 29% from FY 2021). Net income: zł440.7k (down 43% from FY 2021). Profit margin: 1.7% (down from 3.8% in FY 2021). Over the last 3 years on average, earnings per share has increased by 25% per year whereas the company’s share price has increased by 24% per year. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to zł2.55, the stock trades at a trailing P/E ratio of 12.1x. Average trailing P/E is 15x in the Software industry in Poland. Total returns to shareholders of 83% over the past three years. Valuation Update With 7 Day Price Move • Jan 16
Investor sentiment improved over the past week After last week's 16% share price gain to zł2.31, the stock trades at a trailing P/E ratio of 11x. Average trailing P/E is 15x in the Software industry in Poland. Total returns to shareholders of 78% over the past three years. Valuation Update With 7 Day Price Move • Dec 29
Investor sentiment improved over the past week After last week's 27% share price gain to zł2.18, the stock trades at a trailing P/E ratio of 10.4x. Average trailing P/E is 16x in the Software industry in Poland. Total returns to shareholders of 102% over the past three years. Valuation Update With 7 Day Price Move • Nov 10
Investor sentiment improved over the past week After last week's 17% share price gain to zł2.10, the stock trades at a trailing P/E ratio of 9.9x. Average trailing P/E is 18x in the Software industry in Poland. Total returns to shareholders of 40% over the past three years. Valuation Update With 7 Day Price Move • Oct 05
Investor sentiment improved over the past week After last week's 18% share price gain to zł2.01, the stock trades at a trailing P/E ratio of 9.5x. Average trailing P/E is 17x in the Software industry in Poland. Total returns to shareholders of 43% over the past three years. Valuation Update With 7 Day Price Move • Aug 26
Investor sentiment improved over the past week After last week's 16% share price gain to zł2.58, the stock trades at a trailing P/E ratio of 14.2x. Average trailing P/E is 19x in the Software industry in Poland. Total returns to shareholders of 70% over the past three years. Valuation Update With 7 Day Price Move • Jul 28
Investor sentiment improved over the past week After last week's 25% share price gain to zł2.38, the stock trades at a trailing P/E ratio of 13.1x. Average trailing P/E is 16x in the Software industry in Poland. Total returns to shareholders of 51% over the past three years. Valuation Update With 7 Day Price Move • Jun 24
Investor sentiment deteriorated over the past week After last week's 16% share price decline to zł1.79, the stock trades at a trailing P/E ratio of 9.8x. Average trailing P/E is 16x in the Software industry in Poland. Total returns to shareholders of 30% over the past three years. Anuncio • May 21
Madkom SA, Annual General Meeting, Jun 14, 2022 Madkom SA, Annual General Meeting, Jun 14, 2022, at 10:00 Central European Standard Time. Reported Earnings • May 20
First quarter 2022 earnings released First quarter 2022 results: Revenue: zł5.31m (up 59% from 1Q 2021). Net loss: zł93.9k (loss narrowed 62% from 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improved over the past week After last week's 16% share price gain to zł2.90, the stock trades at a trailing P/E ratio of 22.8x. Average trailing P/E is 20x in the Software industry in Poland. Total returns to shareholders of 87% over the past three years. Valuation Update With 7 Day Price Move • Mar 15
Investor sentiment improved over the past week After last week's 17% share price gain to zł3.06, the stock trades at a trailing P/E ratio of 24.1x. Average trailing P/E is 19x in the Software industry in Poland. Total returns to shareholders of 100% over the past three years. Valuation Update With 7 Day Price Move • Mar 01
Investor sentiment deteriorated over the past week After last week's 23% share price decline to zł2.32, the stock trades at a trailing P/E ratio of 18.2x. Average trailing P/E is 18x in the Software industry in Poland. Total returns to shareholders of 35% over the past three years. Reported Earnings • Feb 16
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: zł0.13 (down from zł0.18 in FY 2020). Revenue: zł19.9m (down 1.5% from FY 2020). Net income: zł645.0k (down 31% from FY 2020). Profit margin: 3.2% (down from 4.6% in FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has increased by 27% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Dec 23
Investor sentiment deteriorated over the past week After last week's 18% share price decline to zł3.18, the stock trades at a trailing P/E ratio of 21x. Average trailing P/E is 17x in the Software industry in Poland. Total returns to shareholders of 124% over the past three years. Reported Earnings • Nov 18
Third quarter 2021 earnings released The company reported a solid third quarter result with reduced losses, improved revenues and improved control over expenses. Third quarter 2021 results: Revenue: zł5.55m (up 14% from 3Q 2020). Net loss: zł43.8k (loss narrowed 89% from 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has increased by 37% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Nov 10
Investor sentiment deteriorated over the past week After last week's 28% share price decline to zł3.30, the stock trades at a trailing P/E ratio of 40.6x. Average trailing P/E is 17x in the Software industry in Poland. Total returns to shareholders of 144% over the past three years. Valuation Update With 7 Day Price Move • Oct 25
Investor sentiment improved over the past week After last week's 18% share price gain to zł4.48, the stock trades at a trailing P/E ratio of 55.1x. Average trailing P/E is 17x in the Software industry in Poland. Total returns to shareholders of 227% over the past three years. Valuation Update With 7 Day Price Move • Sep 23
Investor sentiment deteriorated over the past week After last week's 16% share price decline to zł4.20, the stock trades at a trailing P/E ratio of 51.6x. Average trailing P/E is 15x in the Software industry in Poland. Total returns to shareholders of 190% over the past three years. Valuation Update With 7 Day Price Move • Sep 08
Investor sentiment improved over the past week After last week's 24% share price gain to zł3.96, the stock trades at a trailing P/E ratio of 48.7x. Average trailing P/E is 18x in the Software industry in Poland. Total returns to shareholders of 200% over the past three years. Reported Earnings • Aug 21
Second quarter 2021 earnings released The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: zł4.52m (up 9.0% from 2Q 2020). Net income: zł48.9k (down 88% from 2Q 2020). Profit margin: 1.1% (down from 9.7% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has increased by 34% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Aug 13
Investor sentiment improved over the past week After last week's 18% share price gain to zł3.90, the stock trades at a trailing P/E ratio of 37.6x. Average trailing P/E is 30x in the Software industry in Poland. Total returns to shareholders of 179% over the past three years. Reported Earnings • Feb 18
Full year 2020 earnings released: EPS zł0.14 (vs zł0.004 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: zł17.2m (up 25% from FY 2019). Net income: zł698.8k (up zł679.7k from FY 2019). Profit margin: 4.1% (up from 0.1% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 45% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Feb 10
Investor sentiment improved over the past week After last week's 66% share price gain to zł3.30, the stock is trading at a trailing P/E ratio of 21.8x, up from the previous P/E ratio of 13.1x. This compares to an average P/E of 20x in the Software industry in Poland. Total returns to shareholders over the past three years are 82%. Is New 90 Day High Low • Feb 10
New 90-day high: zł3.30 The company is up 67% from its price of zł1.98 on 12 November 2020. The Polish market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is up 12% over the same period. Valuation Update With 7 Day Price Move • Jan 12
Investor sentiment improved over the past week After last week's 22% share price gain to zł2.44, the stock is trading at a trailing P/E ratio of 16.1x, up from the previous P/E ratio of 13.2x. This compares to an average P/E of 19x in the Software industry in Poland. Total returns to shareholders over the past three years are 26%. Is New 90 Day High Low • Jan 08
New 90-day high: zł2.34 The company is up 45% from its price of zł1.61 on 09 October 2020. The Polish market is up 19% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is up 7.0% over the same period. Valuation Update With 7 Day Price Move • Dec 29
Investor sentiment improved over the past week After last week's 22% share price gain to zł2.10, the stock is trading at a trailing P/E ratio of 13.9x, up from the previous P/E ratio of 11.3x. This compares to an average P/E of 19x in the Software industry in Poland. Total returns to shareholders over the past three years are 44%. Is New 90 Day High Low • Nov 19
New 90-day high: zł2.12 The company is up 6.0% from its price of zł2.00 on 21 August 2020. The Polish market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is down 7.0% over the same period. Valuation Update With 7 Day Price Move • Oct 22
Market bids up stock over the past week After last week's 26% share price gain to zł2.08, the stock is trading at a trailing P/E ratio of 10.5x, up from the previous P/E ratio of 8.3x. This compares to an average P/E of 17x in the Software industry in Poland. Total returns to shareholders over the past three years are 55%. Is New 90 Day High Low • Sep 22
New 90-day low: zł1.62 The company is down 25% from its price of zł2.16 on 24 June 2020. The Polish market is down 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is up 10.0% over the same period.