Annuncio • Jun 09
Duality S.A., Annual General Meeting, Jun 30, 2026 Duality S.A., Annual General Meeting, Jun 30, 2026. New Risk • May 28
New major risk - Negative shareholders equity The company has negative equity. Total equity: -zł969 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 (-zł59k free cash flow). Negative equity (-zł969). Earnings have declined by 52% per year over the past 5 years. Revenue is less than US$1m (zł1.5m revenue, or US$402k). Market cap is less than US$10m (zł2.99m market cap, or US$824.4k). Minor Risk Share price has been volatile over the past 3 months (7.7% average weekly change). Reported Earnings • Nov 20
Third quarter 2025 earnings released Third quarter 2025 results: Revenue: zł384.2k (down 42% from 3Q 2024). Net income: zł41.5k (down 66% from 3Q 2024). Profit margin: 11% (down from 19% in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has only fallen by 28% per year, which means it has not declined as severely as earnings. Annuncio • Nov 13
Duality S.A. to Report Q3, 2025 Results on Nov 14, 2025 Duality S.A. announced that they will report Q3, 2025 results on Nov 14, 2025 New Risk • Aug 27
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -zł305k This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. 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 (-zł305k free cash flow). Earnings have declined by 63% per year over the past 5 years. Revenue is less than US$1m (zł2.3m revenue, or US$639k). Market cap is less than US$10m (zł3.05m market cap, or US$833.3k). Minor Risk Share price has been volatile over the past 3 months (9.0% average weekly change). New Risk • Aug 04
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 11% 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 Less than 1 year of cash runway based on free cash flow trend (-zł348k free cash flow). Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 70% per year over the past 5 years. Revenue is less than US$1m (zł2.6m revenue, or US$714k). Market cap is less than US$10m (zł3.20m market cap, or US$866.5k). Reported Earnings • May 19
First quarter 2025 earnings released First quarter 2025 results: Revenue: zł397.9k (down 43% from 1Q 2024). Net income: zł85.8k (down 73% from 1Q 2024). Profit margin: 22% (down from 45% in 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 69 percentage points per year, which is a significant difference in performance. New Risk • Apr 10
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Polish stocks, typically moving 7.5% a week. This is considered a minor risk. Share price volatility indicates 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. It also 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. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 68% per year over the past 5 years. Revenue is less than US$1m (zł2.9m revenue, or US$773k). Market cap is less than US$10m (zł3.44m market cap, or US$905.4k). Minor Risk Share price has been volatile over the past 3 months (7.5% average weekly change). New Risk • Apr 02
New major risk - Revenue size The company makes less than US$1m in revenue. Total revenue: zł2.9m (US$765k) This is considered a major 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 Earnings have declined by 68% per year over the past 5 years. Revenue is less than US$1m (zł2.9m revenue, or US$765k). Market cap is less than US$10m (zł4.32m market cap, or US$1.12m). Annuncio • May 25
Duality S.A., Annual General Meeting, Jun 19, 2024 Duality S.A., Annual General Meeting, Jun 19, 2024. Reported Earnings • May 20
First quarter 2024 earnings released First quarter 2024 results: Revenue: zł698.5k (up 46% from 1Q 2023). Net income: zł317.1k (up 194% from 1Q 2023). Profit margin: 45% (up from 23% in 1Q 2023). The increase in margin was driven by higher revenue. New Risk • Feb 06
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 11% 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 (11% average weekly change). Revenue is less than US$1m (zł1.6m revenue, or US$405k). Market cap is less than US$10m (zł7.92m market cap, or US$1.96m). Reported Earnings • Nov 19
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: zł277.8k (down 71% from 3Q 2022). Net income: zł132.4k (down 57% from 3Q 2022). Profit margin: 48% (up from 33% in 3Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has fallen by 42% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Jul 20
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to zł3.17, the stock trades at a trailing P/E ratio of 26x. Average trailing P/E is 24x in the Entertainment industry in Poland. Total returns to shareholders of 40% over the past year. New Risk • Jun 23
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Polish stocks, typically moving 9.3% a week. This is considered a minor risk. Share price volatility indicates 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. It also 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. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (29% accrual ratio). Revenue is less than US$1m (zł2.3m revenue, or US$578k). Market cap is less than US$10m (zł14.8m market cap, or US$3.65m). Minor Risk Share price has been volatile over the past 3 months (9.3% average weekly change). Valuation Update With 7 Day Price Move • Jun 07
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to zł4.38, the stock trades at a trailing P/E ratio of 35.9x. Average trailing P/E is 20x in the Entertainment industry in Poland. Total returns to shareholders of 62% over the past year. Reported Earnings • May 21
First quarter 2023 earnings released: EPS: zł0.027 (vs zł0.035 in 1Q 2022) First quarter 2023 results: EPS: zł0.027 (down from zł0.035 in 1Q 2022). Revenue: zł477.9k (up 74% from 1Q 2022). Net income: zł108.0k (down 23% from 1Q 2022). Profit margin: 23% (down from 51% in 1Q 2022). The decrease in margin was driven by higher expenses. Reported Earnings • Mar 24
Full year 2022 earnings released: EPS: zł0.13 (vs zł0.13 in FY 2021) Full year 2022 results: EPS: zł0.13 (up from zł0.13 in FY 2021). Revenue: zł2.14m (flat on FY 2021). Net income: zł519.7k (up 3.4% from FY 2021). Profit margin: 24% (in line with FY 2021). Valuation Update With 7 Day Price Move • Dec 15
Investor sentiment deteriorated over the past week After last week's 16% share price decline to zł3.22, the stock trades at a trailing P/E ratio of 19.5x. Average trailing P/E is 13x in the Entertainment industry in Poland. Total loss to shareholders of 17% over the past year. Valuation Update With 7 Day Price Move • Nov 29
Investor sentiment improved over the past week After last week's 23% share price gain to zł4.17, the stock trades at a trailing P/E ratio of 25.3x. Average trailing P/E is 13x in the Entertainment industry in Poland. Total returns to shareholders of 5.6% over the past year. Valuation Update With 7 Day Price Move • Oct 31
Investor sentiment improved over the past week After last week's 24% share price gain to zł3.40, the stock trades at a trailing P/E ratio of 21.4x. Average trailing P/E is 12x in the Entertainment industry in Poland. Total loss to shareholders of 21% over the past year. Valuation Update With 7 Day Price Move • Sep 16
Investor sentiment deteriorated over the past week After last week's 17% share price decline to zł3.40, the stock trades at a trailing P/E ratio of 21.4x. Average trailing P/E is 15x in the Entertainment industry in Poland. Total loss to shareholders of 31% over the past year. Valuation Update With 7 Day Price Move • Sep 01
Investor sentiment improved over the past week After last week's 27% share price gain to zł3.94, the stock trades at a trailing P/E ratio of 34.6x. Average trailing P/E is 15x in the Entertainment industry in Poland. Total loss to shareholders of 24% over the past year. Valuation Update With 7 Day Price Move • Jul 29
Investor sentiment improved over the past week After last week's 23% share price gain to zł2.81, the stock trades at a trailing P/E ratio of 24.7x. Average trailing P/E is 14x in the Entertainment industry in Poland. Total loss to shareholders of 51% over the past year. Valuation Update With 7 Day Price Move • Jul 15
Investor sentiment deteriorated over the past week After last week's 24% share price decline to zł2.10, the stock trades at a trailing P/E ratio of 18.5x. Average trailing P/E is 13x in the Entertainment industry in Poland. Total loss to shareholders of 68% over the past year. Valuation Update With 7 Day Price Move • Jun 27
Investor sentiment improved over the past week After last week's 24% share price gain to zł2.85, the stock trades at a trailing P/E ratio of 25x. Average trailing P/E is 13x in the Entertainment industry in Poland. Total loss to shareholders of 59% over the past year. Reported Earnings • May 22
First quarter 2022 earnings released First quarter 2022 results: Revenue: zł274.8k (down 50% from 1Q 2021). Net income: zł139.8k (down 25% from 1Q 2021). Profit margin: 51% (up from 34% in 1Q 2021). The increase in margin was driven by lower expenses. Valuation Update With 7 Day Price Move • Feb 04
Investor sentiment improved over the past week After last week's 16% share price gain to zł4.62, the stock trades at a trailing P/E ratio of 25.6x. Average trailing P/E is 19x in the Entertainment industry in Poland. Total loss to shareholders of 45% over the past year. Is New 90 Day High Low • Jan 04
New 90-day high: zł9.10 The company is up 26% from its price of zł7.21 on 06 October 2020. The Polish market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Entertainment industry, which is down 23% over the same period.