Valuation Update With 7 Day Price Move • Apr 17
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to zł7.00, the stock trades at a trailing P/E ratio of 4.4x. Average trailing P/E is 11x in the Entertainment industry in Poland. Total loss to shareholders of 64% over the past three years. Reported Earnings • Feb 19
Full year 2025 earnings released: EPS: zł1.60 (vs zł1.19 loss in FY 2024) Full year 2025 results: EPS: zł1.60 (up from zł1.19 loss in FY 2024). Revenue: zł2.52m (down 22% from FY 2024). Net income: zł1.23m (up zł2.15m from FY 2024). Profit margin: 49% (up from net loss in FY 2024). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has fallen by 27% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Feb 06
Now 39% overvalued after recent price rise Over the last 90 days, the stock has risen 2.4% to zł8.40. The fair value is estimated to be zł6.04, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.4% over the last 3 years. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to zł7.10, the stock trades at a trailing P/E ratio of 3.2x. Average trailing P/E is 11x in the Entertainment industry in Poland. Total loss to shareholders of 51% over the past three years. Valuation Update With 7 Day Price Move • Jan 05
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to zł8.20, the stock trades at a trailing P/E ratio of 3.7x. Average trailing P/E is 11x in the Entertainment industry in Poland. Total loss to shareholders of 48% over the past three years. Valuation Update With 7 Day Price Move • Dec 22
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to zł6.85, the stock trades at a trailing P/E ratio of 3.1x. Average trailing P/E is 10x in the Entertainment industry in Poland. Total loss to shareholders of 57% over the past three years. Reported Earnings • Nov 19
Third quarter 2025 earnings released Third quarter 2025 results: Revenue: zł667.1k (up 52% from 3Q 2024). Net income: zł441.1k (up zł937.7k from 3Q 2024). Profit margin: 66% (up from net loss in 3Q 2024). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Annuncio • Nov 12
7Levels S.A. to Report Q3, 2025 Results on Nov 14, 2025 7Levels S.A. announced that they will report Q3, 2025 results on Nov 14, 2025 Valuation Update With 7 Day Price Move • Aug 25
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to zł9.25, the stock trades at a trailing P/E ratio of 9.4x. Average trailing P/E is 13x in the Entertainment industry in Poland. Total loss to shareholders of 52% over the past three years. Reported Earnings • Aug 18
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: zł395.1k (down 27% from 2Q 2024). Net income: zł174.7k (up zł654.5k from 2Q 2024). Profit margin: 44% (up from net loss in 2Q 2024). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has fallen by 24% per year, which means it is performing significantly worse than earnings. Reported Earnings • May 19
First quarter 2025 earnings released First quarter 2025 results: Revenue: zł1.27m (up 89% from 1Q 2024). Net income: zł625.7k (up zł1.02m from 1Q 2024). Profit margin: 49% (up from net loss in 1Q 2024). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings. Reported Earnings • Apr 17
Full year 2024 earnings released: zł1.19 loss per share (vs zł3.78 loss in FY 2023) Full year 2024 results: zł1.19 loss per share (improved from zł3.78 loss in FY 2023). Revenue: zł3.25m (up 15% from FY 2023). Net loss: zł918.8k (loss narrowed 58% from FY 2023). Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has only fallen by 29% per year, which means it has not declined as severely as earnings. Annuncio • Apr 15
7Levels S.A., Annual General Meeting, May 12, 2025 7Levels S.A., Annual General Meeting, May 12, 2025. New Risk • Feb 19
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 19% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-zł1.4m free cash flow). Share price has been highly volatile over the past 3 months (19% average weekly change). Negative equity (-zł889k). Earnings have declined by 50% per year over the past 5 years. Revenue is less than US$1m (zł2.3m revenue, or US$579k). Market cap is less than US$10m (zł6.72m market cap, or US$1.68m). Minor Risk Shareholders have been diluted in the past year (19% increase in shares outstanding). Reported Earnings • Aug 18
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: zł541.8k (down 8.7% from 2Q 2023). Net loss: zł479.8k (loss narrowed 1.6% from 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 59 percentage points per year, which is a significant difference in performance. Reported Earnings • May 19
First quarter 2024 earnings released First quarter 2024 results: Revenue: zł670.6k (down 25% from 1Q 2023). Net loss: zł399.3k (loss widened 61% from 1Q 2023). Annuncio • Mar 29
7Levels S.A., Annual General Meeting, Apr 25, 2024 7Levels S.A., Annual General Meeting, Apr 25, 2024, at 12:00 Central European Standard Time. New Risk • Feb 20
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 13% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-zł1.5m free cash flow). Share price has been highly volatile over the past 3 months (12% average weekly change). Negative equity (-zł136k). Earnings have declined by 3.3% per year over the past 5 years. Revenue is less than US$1m (zł3.0m revenue, or US$737k). Market cap is less than US$10m (zł5.88m market cap, or US$1.47m). Minor Risk Shareholders have been diluted in the past year (13% increase in shares outstanding). New Risk • Nov 22
New major risk - Negative shareholders equity The company has negative equity. Total equity: -zł136k This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-zł1.5m free cash flow). Share price has been highly volatile over the past 3 months (13% average weekly change). Negative equity (-zł136k). Earnings have declined by 3.3% per year over the past 5 years. Revenue is less than US$1m (zł3.0m revenue, or US$734k). Market cap is less than US$10m (zł6.21m market cap, or US$1.55m). Reported Earnings • Aug 13
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: zł593.1k (down 2.2% from 2Q 2022). Net loss: zł487.5k (loss widened 235% from 2Q 2022). Annuncio • May 26
7Levels S.A., Annual General Meeting, Jun 22, 2023 7Levels S.A., Annual General Meeting, Jun 22, 2023, at 12:00 Central European Standard Time. Reported Earnings • Feb 20
Full year 2022 earnings released: zł1.13 loss per share (vs zł0.15 loss in FY 2021) Full year 2022 results: zł1.13 loss per share (further deteriorated from zł0.15 loss in FY 2021). Revenue: zł2.79m (up 6.6% from FY 2021). Net loss: zł649.6k (loss widened zł562.9k from FY 2021). Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 19
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: zł606.3k (up 11% from 2Q 2021). Net loss: zł145.5k (loss widened 27% from 2Q 2021). Reported Earnings • Feb 17
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: zł0.036 loss per share (up from zł0.16 loss in FY 2020). Revenue: zł2.61m (up 30% from FY 2020). Net loss: zł20.9k (loss narrowed 77% from FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 19
Second quarter 2021 earnings released The company reported a soft second quarter result with weaker earnings and weaker control over costs, although revenues improved. Second quarter 2021 results: Revenue: zł545.0k (up 11% from 2Q 2020). Net loss: zł114.3k (down zł123.1k from profit in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Reported Earnings • May 18
First quarter 2021 earnings released The company reported a soft first quarter result with weaker earnings and profit margins, although revenues improved. First quarter 2021 results: Revenue: zł641.0k (up 29% from 1Q 2020). Net income: zł109.9k (down 46% from 1Q 2020). Profit margin: 17% (down from 41% in 1Q 2020). The decrease in margin was driven by higher expenses. Reported Earnings • Feb 17
Full year 2020 earnings released: EPS zł0.021 (vs zł1.20 loss in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: zł2.01m (down 1.7% from FY 2019). Net income: zł12.2k (up zł642.6k from FY 2019). Profit margin: 0.6% (up from net loss in FY 2019). The move to profitability was driven by lower expenses. Is New 90 Day High Low • Jan 05
New 90-day high: zł39.60 The company is up 14% from its price of zł34.80 on 07 October 2020. The Polish market is also up 14% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Entertainment industry, which is down 18% over the same period. Is New 90 Day High Low • Oct 27
New 90-day low: zł28.80 The company is down 42% from its price of zł50.00 on 29 July 2020. The Polish market is down 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Entertainment industry, which is down 5.0% over the same period. Is New 90 Day High Low • Oct 07
New 90-day low: zł34.80 The company is down 54% from its price of zł76.00 on 09 July 2020. The Polish market is down 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Entertainment industry, which is down 7.0% over the same period. 
