Growens（GROW）株式概要Growens S.p.A.は、その子会社とともに、イタリア、その他のヨーロッパ諸国、アメリカ大陸、アジアでクラウド・マーケティング・テクノロジー事業に従事している。 詳細GROW ファンダメンタル分析スノーフレーク・スコア評価3/6将来の成長0/6過去の実績0/6財務の健全性4/6配当金0/6報酬同業他社や業界と比較して、良好な取引価格 リスク分析キャッシュランウェイが1年未満である 意味のある時価総額がありません ( €26M )現在は利益が出ておらず、今後3年間で利益が出る見込みはない すべてのリスクチェックを見るGROW Community Fair Values Create NarrativeSee what others think this stock is worth. Follow their fair value or set your own to get alerts.Analyst Price TargetsAN47.8% undervaluedAnalystConsensusTarget•6d agoAI Adoption And Subscription Expansion Will Support Long Term Earnings Improvement703Top Analyst NarrativesGrowensANAnalystConsensusTargetBased on Analyst Price TargetsAI Adoption And Subscription Expansion Will Support Long Term Earnings ImprovementGrowens leans on its Beefree design tools as businesses shift toward subscription software and add more built-in content editing, while the wider push to use AI in creating and shipping software could open new ways to reach customers. The catch is that its older texting business may keep shrinking and bigger platform players could crowd it out, making the path to steady profits less certain.View narrative€3.6FV47.8% 割安 内在価値ディスカウントSet Fair ValueView7users have viewed this narrative0users have liked this narrative0users have commented on this narrative3users have followed this narrativeUpdated narrativeView all narrativesGrowens S.p.A. 競合他社DatrixSymbol: BIT:DATAMarket cap: €26.8mSiavSymbol: BIT:SIAVMarket cap: €22.8mMetriks AI. Società BenefitSymbol: BIT:MTKMarket cap: €30.2mMapsSymbol: BIT:MAPSMarket cap: €36.1m価格と性能株価の高値、安値、推移の概要Growens過去の株価現在の株価€1.8852週高値€3.6952週安値€1.87ベータ-0.261ヶ月の変化-12.15%3ヶ月変化-24.19%1年変化-38.76%3年間の変化-70.35%5年間の変化-58.22%IPOからの変化-20.03%最新ニュースナラティブの更新 • Jun 26GROW: Higher Margin Outlook Will Drive Stronger Future Earnings PotentialAnalysts have trimmed their fair value estimate for Growens from €4.10 to €3.60, citing updated assumptions on the discount rate, revenue growth, profit margin, and future P/E as the main reasons for the change in price target. What's in the News for Growens No recent news items or key developments for Growens were identified in the provided sources.Board Change • Jun 22Less than half of directors are independentFollowing the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Sebastiano Vita was the last independent director to join the board, commencing their role in 2026. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Reported Earnings • Apr 30Full year 2025 earnings released: €0.17 loss per share (vs €0.19 loss in FY 2024)Full year 2025 results: €0.17 loss per share (improved from €0.19 loss in FY 2024). Revenue: €77.4m (up 4.0% from FY 2024). Net loss: €2.26m (loss narrowed 7.2% from FY 2024). Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Software industry in Italy. 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 27% per year, which means it is performing significantly worse than earnings.New Risk • Apr 26New minor risk - ProfitabilityThe company is currently unprofitable and not forecast to become profitable over the next 3 years. Trailing 12-month net loss: €2.3m Forecast net loss in 3 years: €100k This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-€4.4m free cash flow). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (€100k net loss in 3 years). Share price has been volatile over the past 3 months (7.8% average weekly change). Market cap is less than US$100m (€30.2m market cap, or US$35.3m).お知らせ • Apr 17Growens S.p.A., Annual General Meeting, Apr 27, 2026Growens S.p.A., Annual General Meeting, Apr 27, 2026, at 10:00 W. Europe Standard Time. Location: via del innovazione digitale n 3, cremona ItalyNew Risk • Apr 12New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Italian stocks, typically moving 7.9% 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 (-€4.4m free cash flow). Share price has been highly volatile over the past 3 months (7.9% average weekly change). Minor Risk Market cap is less than US$100m (€30.4m market cap, or US$35.7m).最新情報をもっと見るRecent updatesナラティブの更新 • Jun 26GROW: Higher Margin Outlook Will Drive Stronger Future Earnings PotentialAnalysts have trimmed their fair value estimate for Growens from €4.10 to €3.60, citing updated assumptions on the discount rate, revenue growth, profit margin, and future P/E as the main reasons for the change in price target. What's in the News for Growens No recent news items or key developments for Growens were identified in the provided sources.Board Change • Jun 22Less than half of directors are independentFollowing the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Sebastiano Vita was the last independent director to join the board, commencing their role in 2026. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Reported Earnings • Apr 30Full year 2025 earnings released: €0.17 loss per share (vs €0.19 loss in FY 2024)Full year 2025 results: €0.17 loss per share (improved from €0.19 loss in FY 2024). Revenue: €77.4m (up 4.0% from FY 2024). Net loss: €2.26m (loss narrowed 7.2% from FY 2024). Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Software industry in Italy. 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 27% per year, which means it is performing significantly worse than earnings.New Risk • Apr 26New minor risk - ProfitabilityThe company is currently unprofitable and not forecast to become profitable over the next 3 years. Trailing 12-month net loss: €2.3m Forecast net loss in 3 years: €100k This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-€4.4m free cash flow). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (€100k net loss in 3 years). Share price has been volatile over the past 3 months (7.8% average weekly change). Market cap is less than US$100m (€30.2m market cap, or US$35.3m).お知らせ • Apr 17Growens S.p.A., Annual General Meeting, Apr 27, 2026Growens S.p.A., Annual General Meeting, Apr 27, 2026, at 10:00 W. Europe Standard Time. Location: via del innovazione digitale n 3, cremona ItalyNew Risk • Apr 12New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Italian stocks, typically moving 7.9% 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 (-€4.4m free cash flow). Share price has been highly volatile over the past 3 months (7.9% average weekly change). Minor Risk Market cap is less than US$100m (€30.4m market cap, or US$35.7m).Reported Earnings • Mar 26Full year 2025 earnings releasedFull year 2025 results: Revenue: €77.4m (up 4.0% from FY 2024). Net loss: €2.26m (loss narrowed 7.2% from FY 2024). Revenue is forecast to grow 1.6% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Software industry in Italy.New Risk • Mar 25New major risk - Revenue and earnings growthEarnings have declined by 52% 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 Less than 1 year of cash runway based on free cash flow trend (-€4.3m free cash flow). Earnings have declined by 52% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.3% average weekly change). Market cap is less than US$100m (€34.2m market cap, or US$39.6m).お知らせ • Dec 20+ 3 more updatesGrowens S.p.A. to Report First Half, 2026 Results on Sep 17, 2026Growens S.p.A. announced that they will report first half, 2026 results on Sep 17, 2026分析記事 • Dec 05There's No Escaping Growens S.p.A.'s (BIT:GROW) Muted RevenuesYou may think that with a price-to-sales (or "P/S") ratio of 0.5x Growens S.p.A. ( BIT:GROW ) is a stock worth checking...New Risk • Nov 28New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Italian stocks, typically moving 9.1% 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 (-€4.3m free cash flow). Share price has been highly volatile over the past 3 months (9.1% average weekly change). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (€671k net loss in 2 years). Market cap is less than US$100m (€39.1m market cap, or US$45.4m).New Risk • Oct 17New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Italian stocks, typically moving 5.7% 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 Risk Less than 1 year of cash runway based on free cash flow trend (-€4.3m free cash flow). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (€671k net loss in 2 years). Share price has been volatile over the past 3 months (5.7% average weekly change). Market cap is less than US$100m (€39.5m market cap, or US$46.2m).分析記事 • Oct 13Does Growens (BIT:GROW) Have A Healthy Balance Sheet?Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...分析記事 • Aug 21Growens S.p.A.'s (BIT:GROW) Price Is Right But Growth Is LackingBIT:GROW 1 Year Share Price vs Fair Value Explore Growens's Fair Values from the Community and select yours Growens...New Risk • Aug 06New major risk - Financial positionThe company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -€8.9m 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 Risk Less than 1 year of cash runway based on free cash flow trend (-€8.9m free cash flow). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (€1.2m net loss in 3 years). Market cap is less than US$100m (€39.8m market cap, or US$46.2m).New Risk • Jul 15New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Italian stocks, typically moving 5.5% 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: Minor Risks Less than 1 year of cash runway based on current free cash flow (-€8.9m). Currently unprofitable and not forecast to become profitable over next 3 years (€1.2m net loss in 3 years). Share price has been volatile over the past 3 months (5.5% average weekly change). Market cap is less than US$100m (€40.0m market cap, or US$46.7m).Upcoming Dividend • Apr 21Upcoming dividend of €0.38 per shareEligible shareholders must have bought the stock before 28 April 2025. Payment date: 30 April 2025. Trailing yield: 10%. Within top quartile of Italian dividend payers (5.8%). Higher than average of industry peers (1.1%).New Risk • Mar 20New minor risk - ProfitabilityThe company is currently unprofitable and not forecast to become profitable over the next 3 years. Trailing 12-month net loss: €2.4m Forecast net loss in 3 years: €1.2m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.4% average weekly change). Minor Risks Less than 1 year of cash runway based on current free cash flow (-€29m). Currently unprofitable and not forecast to become profitable over next 3 years (€1.2m net loss in 3 years). Market cap is less than US$100m (€49.3m market cap, or US$53.5m).Major Estimate Revision • Mar 20Consensus EPS estimates fall by 56%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from €82.1m to €78.8m. Losses expected to increase from €0.09 per share to €0.14. Software industry in Italy expected to see average net income growth of 53% next year. Consensus price target down from €6.85 to €5.75. Share price was steady at €3.89 over the past week.Price Target Changed • Mar 19Price target decreased by 17% to €5.75Down from €6.95, the current price target is an average from 2 analysts. New target price is 48% above last closing price of €3.89. Stock is down 33% over the past year.New Risk • Mar 17New major risk - Financial positionThe company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -€29m 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 (-€29m free cash flow). Share price has been highly volatile over the past 3 months (8.3% average weekly change). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (€175k net loss in 2 years). Market cap is less than US$100m (€49.2m market cap, or US$53.7m).Reported Earnings • Mar 17Full year 2024 earnings releasedFull year 2024 results: Revenue: €74.5m (flat on FY 2023). Net loss: €2.43m (loss narrowed 17% from FY 2023). Revenue is forecast to grow 9.7% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Software industry in Italy.分析記事 • Mar 12Investors Don't See Light At End Of Growens S.p.A.'s (BIT:GROW) Tunnel And Push Stock Down 27%The Growens S.p.A. ( BIT:GROW ) share price has fared very poorly over the last month, falling by a substantial 27...New Risk • Feb 25New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Italian stocks, typically moving 5.7% 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: Minor Risks Share price has been volatile over the past 3 months (5.7% average weekly change). Market cap is less than US$100m (€55.2m market cap, or US$57.9m).分析記事 • Jan 17Improved Revenues Required Before Growens S.p.A. (BIT:GROW) Shares Find Their FeetWhen you see that almost half of the companies in the Software industry in Italy have price-to-sales ratios (or "P/S...お知らせ • Dec 25+ 3 more updatesGrowens S.p.A. to Report Nine Months, 2025 Results on Nov 04, 2025Growens S.p.A. announced that they will report nine months, 2025 results on Nov 04, 2025New Risk • Dec 05New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 10% 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: Minor Risks Shareholders have been diluted in the past year (10% increase in shares outstanding). Market cap is less than US$100m (€72.0m market cap, or US$75.9m).Major Estimate Revision • Oct 20Consensus EPS estimates fall by 13%The consensus outlook for fiscal year 2024 has been updated. 2024 expected loss increased from -€0.149 to -€0.169 per share. Revenue forecast of €75.8m unchanged since last update. Software industry in Italy expected to see average net income growth of 68% next year. Consensus price target broadly unchanged at €6.85. Share price rose 5.5% to €6.18 over the past week.Reported Earnings • Sep 27First half 2024 earnings releasedFirst half 2024 results: Revenue: €36.9m (up 3.6% from 1H 2023). Net loss: €1.69m (loss narrowed 40% from 1H 2023). Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Software industry in Italy.New Risk • Sep 26New minor risk - Financial positionThe company has less than a year of cash runway based on its current free cash flow. Free cash flow: -€24m This is considered a minor 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: Minor Risks Less than 1 year of cash runway based on current free cash flow (-€24m). Currently unprofitable and not forecast to become profitable over next 2 years (€383k net loss in 2 years). Market cap is less than US$100m (€72.6m market cap, or US$80.7m).分析記事 • Sep 03Growens S.p.A.'s (BIT:GROW) Shareholders Might Be Looking For ExitWith a median price-to-sales (or "P/S") ratio of close to 1.3x in the Software industry in Italy, you could be forgiven...Upcoming Dividend • Aug 26Upcoming dividend of €0.79 per shareEligible shareholders must have bought the stock before 02 September 2024. Payment date: 04 September 2024. The average dividend yield among industry peers is 1.1%.分析記事 • May 04Growens S.p.A. (BIT:GROW) Stock Rockets 25% As Investors Are Less Pessimistic Than ExpectedDespite an already strong run, Growens S.p.A. ( BIT:GROW ) shares have been powering on, with a gain of 25% in the last...New Risk • Apr 09New minor risk - ProfitabilityThe company is currently unprofitable and not forecast to become profitable over the next 3 years. Trailing 12-month net loss: €2.9m Forecast net loss in 3 years: €700k This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (€700k net loss in 3 years). Market cap is less than US$100m (€73.0m market cap, or US$79.3m).お知らせ • Dec 22+ 4 more updatesGrowens S.p.A. to Report First Half, 2024 Results on Sep 24, 2024Growens S.p.A. announced that they will report first half, 2024 results on Sep 24, 2024New Risk • Dec 04New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: €81.3m (US$87.9m) This is considered a minor risk. Companies with a small market capitalization 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 Risk Earnings are forecast to decline by an average of 40% per year for the foreseeable future. Minor Risks High level of debt (60% net debt to equity). Market cap is less than US$100m (€81.3m market cap, or US$87.9m).お知らせ • Oct 25Squeezely Technology B.V. completed the acquisition of Datatrics B.V. from Growens S.p.A. (BIT:GROW) for €1.6 million.Squeezely Technology B.V. singed binding agreement to acquire Datatrics B.V. from Growens S.p.A. (BIT:GROW) for €1.66 million on October 9, 2023. The parties agreed on a total consideration of €1.66 million (the “Price”), based on a locked-box mechanism (i.e. without any adjustments other than potential price reductions for cash outs in favor of the seller), which will be paid in cash by the Purchaser as of the date in which the shareholding will be transferred. Revenues of the transferred assets amount to €2.5 million in FY 2022, with respective EBITDA of -€1.6 million Euro in FY 2022. The transaction tentatively expected by the end of October 2023.The Transaction implies Growens waiving approximately €7 million of intercompany loans versus Datatrics. Herbert Smith Freehills Studio Legale acted as legal counsel to Growens S.p.A. (BIT:GROW) in the transaction. Squeezely Technology B.V. completed the acquisition of Datatrics B.V. from Growens S.p.A. (BIT:GROW) for €1.6 million on October 23, 2023.お知らせ • Oct 10Squeezely Technology B.V. singed binding agreement to acquire Datatrics B.V. from Growens S.p.A. (BIT:GROW) for €1.66 million.Squeezely Technology B.V. singed binding agreement to acquire Datatrics B.V. from Growens S.p.A. (BIT:GROW) for €1.66 million on October 9, 2023. The parties agreed on a total consideration of €1.66 million (the “Price”), based on a locked-box mechanism (i.e. without any adjustments other than potential price reductions for cash outs in favor of the seller), which will be paid in cash by the Purchaser as of the date in which the shareholding will be transferred. Revenues of the transferred assets amount to €2.5 million in FY 2022, with respective EBITDA of -€1.6 million Euro in FY 2022. The transaction tentatively expected by the end of October 2023.The Transaction implies Growens waiving approximately €7 million of intercompany loans versus Datatrics. Herbert Smith Freehills Studio Legale acted as legal counsel to Growens S.p.A. (BIT:GROW) in the transaction.Reported Earnings • Sep 20First half 2023 earnings releasedFirst half 2023 results: Revenue: €35.6m (down 25% from 1H 2022). Net loss: €2.84m (loss widened 205% from 1H 2022). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Software industry in Italy.New Risk • Sep 19New minor risk - Financial positionThe company has a high level of debt. Net debt to equity ratio: 60% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 52% per year for the foreseeable future. Minor Risk High level of debt (60% net debt to equity).お知らせ • Sep 04Growens S.p.A., Annual General Meeting, Sep 18, 2023Growens S.p.A., Annual General Meeting, Sep 18, 2023, at 10:00 Central European Standard Time. Agenda: To consider and approve authorization to the purchase of treasury shares via a voluntary partial tender offer, and disposal of treasury shares. Related and resulting resolutions.お知らせ • Jul 15TeamSystem Holding S.p.A. completed the acquisition of MailUp Unit, Contactlab S.p.A., Acumbamail S.L., MailUp Nordics A/S and Globase International A.p.S. from Growens S.p.A. (BIT:GROW) for €76.7 million.TeamSystem Holding S.p.A. entered into agreement to acquire MailUp Unit, Contactlab S.p.A., Acumbamail S.L., MailUp Nordics A/S and Globase International A.p.S. from Growens S.p.A. (BIT:GROW) for €70 million on February 2, 2023. The a total consideration of €70 million on a cash/debt free basis. Board of Directors approved the signing of a binding agreement. The Board of Directors also resolved to call the General Shareholders’ Meeting, ordinary and extraordinary session, on 9 March 2023 to approve the Transaction and the subsequent amendments to the By-Laws for the change of the corporate purpose. With respect to the latter decision, nonconcurring shareholders will be entitled to the right of withdrawal of all or part of their stake. The Board of Directors established the liquidation price at €4.39 per share. The deal will be executed tentatively after certain conditions precedent occur (or are renounced), namely (i) clearance is obtained according to the so-called “Golden Power” rule under Italian laws and regulations, (ii) approval of the Antitrust authority, (iii) affirmative vote of the Company’s ordinary and extraordinary General Shareholders’ Meeting (non-renounceable), as the Transaction implies a "fundamental change of business” under article 15 of Euronext Growth Milan Rules For Companies (see below for further information), as well as (iv) the effective contribution of the MailUp business unit (including the stake in MailUp Nordics) into Contactlab S.p.A.. the Board of Directors, having acknowledged the opinion of the Board of Statutory Auditors and BDO Italia S.p.A. (independent audit firm), as well as the valuation opinion released by CFO SIM in their capacity of independent expert, established the liquidation price at 4.39 Euro per share. The sale of the Email Service Provider business implies the transfer of a headcount of 260 people in Italy, Spain and Denmark, including Messrs Luca Azzali, Alberto Miscia and Massimo Fubini, who will take on roles within the transferred activities, while remaining shareholders of Growens S.p.A.. Closing of the Transaction will indicatively take place by the end of June 2023. Figurative revenues of the transferred assets amount to €19 million as of 30 September 2022. As of July 13, 2023, Part of the price, amounting to €4.6 million (the “Escrow Amount”) was deposited into an escrow account, in order to guarantee indemnification obligations provided by the Issuer within the Deal agreement. The Escrow Amount will be periodically released with a usual décalage method for similar deals. The Issuer was assisted by Intermonte S.p.A. as financial advisor and CFO SIM as independent expert. Jpmorgan Asset Management Europe Sarl (Italy Branch) acted as financial advisor to TeamSystem Holding S.p.A. Herbert Smith Freehills LLP acted as legal advisor to Growens S.p.A. JPMorgan Chase & Co. (NYSE:JPM) acted as financial advisor to Growens S.p.A. Freshfields Bruckhaus Deringer LLP acted as legal advisor to TeamSystem Holding S.p.A. Ernst & Young Global Limited acted as financial and tax due diligence provider to TeamSystem Holding S.p.A. TeamSystem Holding S.p.A. completed the acquisition of MailUp Unit, Contactlab S.p.A., Acumbamail S.L., MailUp Nordics A/S and Globase International A.p.S. from Growens S.p.A. (BIT:GROW) for €76.7 million on July 13, 2023.Reported Earnings • Mar 27Full year 2022 earnings releasedFull year 2022 results: Revenue: €103.4m (up 45% from FY 2021). Net loss: €2.52m (down €2.90m from profit in FY 2021). Revenue is forecast to grow 8.6% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Software industry in Italy.Price Target Changed • Feb 08Price target increased by 11% to €6.05Up from €5.43, the current price target is an average from 2 analysts. New target price is 9.2% above last closing price of €5.54. Stock is up 10% over the past year. The company is forecast to post a net loss per share of €0.02 compared to earnings per share of €0.026 last year.お知らせ • Feb 04TeamSystem Holding S.p.A. entered into agreement to acquire MailUp Unit, Contactlab S.p.A., Acumbamail S.L., MailUp Nordics A/S and Globase International A.p.S. from Growens S.p.A. (BIT:GROW) for €70 million.TeamSystem Holding S.p.A. entered into agreement to acquire MailUp Unit, Contactlab S.p.A., Acumbamail S.L., MailUp Nordics A/S and Globase International A.p.S. from Growens S.p.A. (BIT:GROW) for €70 million on February 2, 2023. The a total consideration of €70 million on a cash/debt free basis. Board of Directors approved the signing of a binding agreement. The Board of Directors also resolved to call the General Shareholders’ Meeting, ordinary and extraordinary session, on 9 March 2023 to approve the Transaction and the subsequent amendments to the By-Laws for the change of the corporate purpose. With respect to the latter decision, nonconcurring shareholders will be entitled to the right of withdrawal of all or part of their stake. The Board of Directors established the liquidation price at €4.39 per share. The deal will be executed tentatively after certain conditions precedent occur (or are renounced), namely (i) clearance is obtained according to the so-called “Golden Power” rule under Italian laws and regulations, (ii) approval of the Antitrust authority, (iii) affirmative vote of the Company’s ordinary and extraordinary General Shareholders’ Meeting (non-renounceable), as the Transaction implies a "fundamental change of business” under article 15 of Euronext Growth Milan Rules For Companies (see below for further information), as well as (iv) the effective contribution of the MailUp business unit (including the stake in MailUp Nordics) into Contactlab S.p.A.. the Board of Directors, having acknowledged the opinion of the Board of Statutory Auditors and BDO Italia S.p.A. (independent audit firm), as well as the valuation opinion released by CFO SIM in their capacity of independent expert, established the liquidation price at 4.39 Euro per share. The sale of the Email Service Provider business implies the transfer of a headcount of 260 people in Italy, Spain and Denmark, including Messrs Luca Azzali, Alberto Miscia and Massimo Fubini, who will take on roles within the transferred activities, while remaining shareholders of Growens S.p.A.. Closing of the Transaction will indicatively take place by the end of June 2023. Figurative revenues of the transferred assets amount to €19 million as of 30 September 2022. The Issuer was assisted by Intermonte S.p.A. as financial advisor and CFO SIM as independent expert.お知らせ • Dec 23+ 3 more updatesGrowens S.p.A. to Report Q1, 2023 Results on May 09, 2023Growens S.p.A. announced that they will report Q1, 2023 results on May 09, 2023Board Change • Nov 16Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. 1 independent director (4 non-independent directors). Independent Director Ignazio Castiglioni was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.Reported Earnings • Sep 17First half 2022 earnings released: €0.063 loss per share (vs €0.02 profit in 1H 2021)First half 2022 results: €0.063 loss per share (down from €0.02 profit in 1H 2021). Revenue: €47.2m (up 40% from 1H 2021). Net loss: €930.9k (down 411% from profit in 1H 2021). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Software industry in Italy. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 75 percentage points per year, which is a significant difference in performance.Major Estimate Revision • Sep 14Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 revenue forecast increased from €92.3m to €96.4m. EPS estimate fell from €0.09 to €0.06 per share. Net income forecast to grow 8.5% next year vs 35% growth forecast for Software industry in Italy. Consensus price target down from €6.37 to €5.80. Share price fell 6.0% to €4.37 over the past week.Price Target Changed • Sep 13Price target decreased to €5.80Down from €6.52, the current price target is an average from 3 analysts. New target price is 33% above last closing price of €4.37. Stock is down 1.8% over the past year. The company is forecast to post earnings per share of €0.093 for next year compared to €0.026 last year.分析記事 • Jul 07Calculating The Intrinsic Value Of Growens S.p.A. (BIT:GROW)How far off is Growens S.p.A. ( BIT:GROW ) from its intrinsic value? Using the most recent financial data, we'll take a...Board Change • Apr 27Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. 1 independent director (4 non-independent directors). Independent Director Ignazio Castiglioni was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.お知らせ • Apr 14Growens S.p.A. (BIT:GROW) completed the acquisition of Contactlab Srl from Programma 101, a fund managed by P101 SGR S.p.A. Massimo Fubini and Elisa Martelli.Growens S.p.A. (BIT:GROW) entered into an agreement to acquire Contactlab Srl from Programma 101, a fund managed by P101 SGR S.p.A. Massimo Fubini and Elisa Martelli for €11.3 million on April 4, 2022. A total consideration (Equity Value) of €5 million to be paid as follows:(i) as per €3.750 million in cash (from the Company liquid funds) versus the purchase of n. 827,617 class A and B Contactlab shares (respectively owned by all the Selling Shareholders amounting to ca. 67.4% of its share capital), to be paid on the date of closing;(ii) as per €1.250 million, versus the purchase of the remaining 400,955 class A and B Contactlab shares respectively owned by all the Selling Shareholders amounting to 32.6% of its share capital, in kind, via the attribution of 188,822 treasury shares of the Issuer, on the date of closing (the “Purchase Price Shares”). The implied value of the Purchase Price Shares is €6.62 per share, with a 29% premium on the official price of 1 April, 2022. In addition to the above, an earn-out provision will be granted to the Selling Shareholders for a total consideration up to €6.6 million, upon achieving certain strategic and cumulated combined profitability goals for Growens and Contactlab over the time span 2022-2024. The potential earn-out will be paid: (i) to P101, exclusively in cash, (ii) to the remaining Selling Shareholders other than P101, at Growens’ choice in cash or in kind up to 40% in Growens shares (the “Earn-out Shares”), based on the weighted average official price of Growens shares over the last 90 trading days before the earn-out maturity date, plus 10%. FY 2021 preliminary revenues of €10.9 million, and EBITDA €1 million. Following the Transaction, Massimo Fubini (current CEO and founder of Contactlab) will be responsible for the combined MailUp+Contactlab business unit. Transaction will also include certain management agreements, including the appointment of Massimo Fubini as a director within the Group. The closing of the Transaction will indicatively take place by the end of May 2022. Growens S.p.A. (BIT:GROW) completed the acquisition of Contactlab Srl from Programma 101, a fund managed by P101 SGR S.p.A. Massimo Fubini and Elisa Martelli on April 13, 2022.Major Estimate Revision • Apr 12Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 revenue forecast increased from €80.0m to €92.3m. EPS estimate fell from €0.09 to €0.08. Net income forecast to grow 266% next year vs 63% growth forecast for Software industry in Italy. Consensus price target up from €6.22 to €6.45. Share price rose 3.2% to €5.20 over the past week.お知らせ • Apr 06Growens S.p.A. (BIT:GROW) entered into an agreement to acquire Contactlab Srl from Programma 101, a fund managed by P101 SGR S.p.A. Massimo Fubini and Elisa Martelli for €11.3 million.Growens S.p.A. (BIT:GROW) entered into an agreement to acquire Contactlab Srl from Programma 101, a fund managed by P101 SGR S.p.A. Massimo Fubini and Elisa Martelli for €11.3 million on April 4, 2022. A total consideration (Equity Value) of € 5 million to be paid as follows:(i) as per €3.750 million in cash (from the Company liquid funds) versus the purchase of n. 827,617 class A and B Contactlab shares (respectively owned by all the Selling Shareholders amounting to ca. 67.4% of its share capital), to be paid on the date of closing;(ii) as per €1.250 million, versus the purchase of the remaining n. 400,955 class A and B Contactlab shares respectively owned by all the Selling Shareholders amounting to ca. 32.6% of its share capital, in kind, via the attribution of n. 188,822 treasury shares of the Issuer, on the date of closing (the “Purchase Price Shares”). The implied value of the Purchase Price Shares is €6.62 per share, with a ca. 29% premium on the official price of 1 April, 2022. In addition to the above, an earn-out provision will be granted to the Selling Shareholders for a total consideration up to €6.6 million, upon achieving certain strategic and cumulated combined profitability goals for Growens and Contactlab over the time span 2022-2024. The potential earn-out will be paid: (i) to P101, exclusively in cash, (ii) to the remaining Selling Shareholders other than P101, at Growens’ choice in cash or in kind up to 40% in Growens shares (the “Earn-out Shares”), based on the weighted average official price of Growens shares over the last 90 trading days before the earn-out maturity date, plus 10%. FY 2021 preliminary revenues of €10.9 million, and EBITDA ca. €1 million. Following the Transaction, Massimo Fubini (current CEO and founder of Contactlab) will be responsible for the combined MailUp+Contactlab business unit. Transaction will also include certain management agreements, including the appointment of Massimo Fubini as a director within the Group. The closing of the Transaction will indicatively take place by the end of May 2022.Major Estimate Revision • Mar 30Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 revenue forecast increased from €78.0m to €80.0m. EPS estimate fell from €0.14 to €0.09 per share. Net income forecast to grow 293% next year vs 49% growth forecast for Software industry in Italy. Consensus price target broadly unchanged at €6.35. Share price rose 5.7% to €5.16 over the past week.Reported Earnings • Mar 28Full year 2021 earnings: Revenues exceed analyst expectationsFull year 2021 results: Revenue: €71.2m (up 9.2% from FY 2020). Net income: €368.6k (down 35% from FY 2020). Profit margin: 0.5% (down from 0.9% in FY 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.3%. Over the next year, revenue is forecast to grow 10%, compared to a 31% growth forecast for the industry in Italy.分析記事 • Nov 17Is There An Opportunity With Growens S.p.A.'s (BIT:GROW) 26% Undervaluation?How far off is Growens S.p.A. ( BIT:GROW ) from its intrinsic value? Using the most recent financial data, we'll take a...Reported Earnings • Sep 18First half 2021 earnings releasedThe company reported a soft first half result with weaker earnings and profit margins, although revenues improved. First half 2021 results: Revenue: €33.7m (up 6.3% from 1H 2020). Net income: €299.0k (down 26% from 1H 2020). Profit margin: 0.9% (down from 1.3% in 1H 2020). The decrease in margin was driven by higher expenses.分析記事 • Apr 15These 4 Measures Indicate That MailUp (BIT:MAIL) Is Using Debt ExtensivelyWarren Buffett famously said, 'Volatility is far from synonymous with risk.' When we think about how risky a company...分析記事 • Mar 28MailUp S.p.A. (BIT:MAIL) Just Reported Yearly Earnings: Have Analysts Changed Their Mind On The Stock?Last week, you might have seen that MailUp S.p.A. ( BIT:MAIL ) released its yearly result to the market. The early...Reported Earnings • Mar 27Full year 2020 earnings releasedThe company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: €65.2m (up 7.3% from FY 2019). Net income: €564.9k (down 51% from FY 2019). Profit margin: 0.9% (down from 1.9% in FY 2019). The decrease in margin was driven by higher expenses.Is New 90 Day High Low • Mar 14New 90-day low: €4.31The company is down 7.0% from its price of €4.65 on 14 December 2020. The Italian market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is up 20% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €4.43 per share.分析記事 • Mar 09A Look At The Intrinsic Value Of MailUp S.p.A. (BIT:MAIL)Today we will run through one way of estimating the intrinsic value of MailUp S.p.A. ( BIT:MAIL ) by projecting its...分析記事 • Feb 09Are MailUp's (BIT:MAIL) Statutory Earnings A Good Reflection Of Its Earnings Potential?As a general rule, we think profitable companies are less risky than companies that lose money. However, sometimes...分析記事 • Jan 22Are Insiders Selling MailUp S.p.A. (BIT:MAIL) Stock?It is not uncommon to see companies perform well in the years after insiders buy shares. Unfortunately, there are also...お知らせ • Jan 14MailUp S.p.A., Annual General Meeting, Apr 22, 2021MailUp S.p.A., Annual General Meeting, Apr 22, 2021.分析記事 • Jan 04MailUp S.p.A. (BIT:MAIL) Stock's Been Sliding But Fundamentals Look Decent: Will The Market Correct The Share Price In The Future?With its stock down 12% over the past three months, it is easy to disregard MailUp (BIT:MAIL). But if you pay close...分析記事 • Dec 16MailUp (BIT:MAIL) Has A Pretty Healthy Balance SheetWarren Buffett famously said, 'Volatility is far from synonymous with risk.' It's only natural to consider a company's...分析記事 • Dec 01The MailUp (BIT:MAIL) Share Price Has Gained 96% And Shareholders Are Hoping For MoreIt hasn't been the best quarter for MailUp S.p.A. (BIT:MAIL) shareholders, since the share price has fallen 18% in...Is New 90 Day High Low • Oct 21New 90-day low: €4.78The company is down 8.0% from its price of €5.18 on 23 July 2020. The Italian market is down 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €2.59 per share.Is New 90 Day High Low • Sep 25New 90-day low: €4.82The company is down 11% from its price of €5.40 on 26 June 2020. The Italian market is down 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €2.70 per share.Price Target Changed • Sep 23Price target raised to €5.98Up from €5.05, the current price target is an average from 2 analysts. The new target price is 18% above the current share price of €5.06. As of last close, the stock is up 26% over the past year.Reported Earnings • Sep 18First half earnings releasedOver the last 12 months the company has reported total profits of €1.14m, down 3.6% from the prior year. Total revenue was €63.2m over the last 12 months, up 23% from the prior year.株主還元GROWIT SoftwareIT 市場7D0%1.8%0.07%1Y-38.8%16.9%24.3%株主還元を見る業界別リターン: GROW過去 1 年間で16.9 % の収益を上げたItalian Software業界を下回りました。リターン対市場: GROWは、過去 1 年間で24.3 % のリターンを上げたItalian市場を下回りました。価格変動Is GROW's price volatile compared to industry and market?GROW volatilityGROW Average Weekly Movement4.5%Software Industry Average Movement5.2%Market Average Movement4.7%10% most volatile stocks in IT Market8.2%10% least volatile stocks in IT Market2.9%安定した株価: GROW 、 Italian市場と比較して、過去 3 か月間で大きな価格変動はありませんでした。時間の経過による変動: GROWの 週次ボラティリティ ( 5% ) は過去 1 年間安定しています。会社概要設立従業員CEO（最高経営責任者ウェブサイト2002141Nazzareno Gorniwww.growens.io/enGrowens S.p.A.は、その子会社とともに、イタリア、その他のヨーロッパ諸国、アメリカ大陸、アジアでクラウドマーケティングテクノロジー事業に従事している。コンテンツ・デザイン事業とモバイル・メッセージング事業を展開。同社は、マーケティングやトランザクションを目的とした電子メールの大量送信やSMSチャネルを通じたモバイル・メッセージング技術の開発・販売に携わっている。また、Eメールやニュースレターの編集ツール、マーケティング・テクノロジー・ソリューション、プロフェッショナル・コンサルティング・サービスも提供している。さらに、同社は、ユーザーが電子メールによるキャンペーンの効果を高め、今後のキャンペーンのパフォーマンスを向上させるための是正措置を講じるための統計データを提示するエンゲージメントの統計や、キャンペーンの進捗状況を即座に把握できるサマリーツールであるマルチリストダッシュボード機能などのデータ提示ツールを提供するプラットフォーム「MailUp」を提供している。さらに、メールやランディングページをドラッグ＆ドロップで編集できる「BEE」、マルチチャネルマーケティングキャンペーンの作成・送信・管理が可能なスペインのメールマーケティングプラットフォーム「Acumbamail」、マーケティングチームが人工知能によって管理されたデータに基づいてエクスペリエンスを構築できる「datatrics」プラットフォームも提供している。同社は以前はMailup S.p.A.として知られていたが、2021年4月に社名をGrowens S.p.A.に変更した。Growens S.p.A.は2002年に設立され、イタリアのミラノに本社を置いている。もっと見るGrowens S.p.A. 基礎のまとめGrowens の収益と売上を時価総額と比較するとどうか。GROW 基礎統計学時価総額€26.25m収益（TTM）-€2.26m売上高(TTM)€77.43m0.3xP/Sレシオ-11.6xPER（株価収益率GROW は割高か？公正価値と評価分析を参照収益と収入最新の決算報告書（TTM）に基づく主な収益性統計GROW 損益計算書（TTM）収益€77.43m売上原価€56.93m売上総利益€20.50mその他の費用€22.76m収益-€2.26m直近の収益報告Dec 31, 2025次回決算日Sep 17, 2026一株当たり利益（EPS）-0.16グロス・マージン26.48%純利益率-2.91%有利子負債／自己資本比率10.3%GROW の長期的なパフォーマンスは？過去の実績と比較を見るView Valuation企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/07/01 15:22終値2026/07/01 00:00収益2025/12/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレークこのレポートを生成するために使用した分析モデルの詳細は、当社の Github ページ でご覧いただけます。また、レポートの使い方に関する ガイド や YouTube の チュートリアル もご用意しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Growens S.p.A. 1 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。2 アナリスト機関Gabriele BertiIntesa Sanpaolo Equity ResearchArianna TerazziIntesa Sanpaolo Equity Research
ナラティブの更新 • Jun 26GROW: Higher Margin Outlook Will Drive Stronger Future Earnings PotentialAnalysts have trimmed their fair value estimate for Growens from €4.10 to €3.60, citing updated assumptions on the discount rate, revenue growth, profit margin, and future P/E as the main reasons for the change in price target. What's in the News for Growens No recent news items or key developments for Growens were identified in the provided sources.
Board Change • Jun 22Less than half of directors are independentFollowing the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Sebastiano Vita was the last independent director to join the board, commencing their role in 2026. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Reported Earnings • Apr 30Full year 2025 earnings released: €0.17 loss per share (vs €0.19 loss in FY 2024)Full year 2025 results: €0.17 loss per share (improved from €0.19 loss in FY 2024). Revenue: €77.4m (up 4.0% from FY 2024). Net loss: €2.26m (loss narrowed 7.2% from FY 2024). Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Software industry in Italy. 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 27% per year, which means it is performing significantly worse than earnings.
New Risk • Apr 26New minor risk - ProfitabilityThe company is currently unprofitable and not forecast to become profitable over the next 3 years. Trailing 12-month net loss: €2.3m Forecast net loss in 3 years: €100k This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-€4.4m free cash flow). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (€100k net loss in 3 years). Share price has been volatile over the past 3 months (7.8% average weekly change). Market cap is less than US$100m (€30.2m market cap, or US$35.3m).
お知らせ • Apr 17Growens S.p.A., Annual General Meeting, Apr 27, 2026Growens S.p.A., Annual General Meeting, Apr 27, 2026, at 10:00 W. Europe Standard Time. Location: via del innovazione digitale n 3, cremona Italy
New Risk • Apr 12New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Italian stocks, typically moving 7.9% 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 (-€4.4m free cash flow). Share price has been highly volatile over the past 3 months (7.9% average weekly change). Minor Risk Market cap is less than US$100m (€30.4m market cap, or US$35.7m).
ナラティブの更新 • Jun 26GROW: Higher Margin Outlook Will Drive Stronger Future Earnings PotentialAnalysts have trimmed their fair value estimate for Growens from €4.10 to €3.60, citing updated assumptions on the discount rate, revenue growth, profit margin, and future P/E as the main reasons for the change in price target. What's in the News for Growens No recent news items or key developments for Growens were identified in the provided sources.
Board Change • Jun 22Less than half of directors are independentFollowing the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Sebastiano Vita was the last independent director to join the board, commencing their role in 2026. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Reported Earnings • Apr 30Full year 2025 earnings released: €0.17 loss per share (vs €0.19 loss in FY 2024)Full year 2025 results: €0.17 loss per share (improved from €0.19 loss in FY 2024). Revenue: €77.4m (up 4.0% from FY 2024). Net loss: €2.26m (loss narrowed 7.2% from FY 2024). Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Software industry in Italy. 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 27% per year, which means it is performing significantly worse than earnings.
New Risk • Apr 26New minor risk - ProfitabilityThe company is currently unprofitable and not forecast to become profitable over the next 3 years. Trailing 12-month net loss: €2.3m Forecast net loss in 3 years: €100k This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-€4.4m free cash flow). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (€100k net loss in 3 years). Share price has been volatile over the past 3 months (7.8% average weekly change). Market cap is less than US$100m (€30.2m market cap, or US$35.3m).
お知らせ • Apr 17Growens S.p.A., Annual General Meeting, Apr 27, 2026Growens S.p.A., Annual General Meeting, Apr 27, 2026, at 10:00 W. Europe Standard Time. Location: via del innovazione digitale n 3, cremona Italy
New Risk • Apr 12New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Italian stocks, typically moving 7.9% 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 (-€4.4m free cash flow). Share price has been highly volatile over the past 3 months (7.9% average weekly change). Minor Risk Market cap is less than US$100m (€30.4m market cap, or US$35.7m).
Reported Earnings • Mar 26Full year 2025 earnings releasedFull year 2025 results: Revenue: €77.4m (up 4.0% from FY 2024). Net loss: €2.26m (loss narrowed 7.2% from FY 2024). Revenue is forecast to grow 1.6% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Software industry in Italy.
New Risk • Mar 25New major risk - Revenue and earnings growthEarnings have declined by 52% 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 Less than 1 year of cash runway based on free cash flow trend (-€4.3m free cash flow). Earnings have declined by 52% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.3% average weekly change). Market cap is less than US$100m (€34.2m market cap, or US$39.6m).
お知らせ • Dec 20+ 3 more updatesGrowens S.p.A. to Report First Half, 2026 Results on Sep 17, 2026Growens S.p.A. announced that they will report first half, 2026 results on Sep 17, 2026
分析記事 • Dec 05There's No Escaping Growens S.p.A.'s (BIT:GROW) Muted RevenuesYou may think that with a price-to-sales (or "P/S") ratio of 0.5x Growens S.p.A. ( BIT:GROW ) is a stock worth checking...
New Risk • Nov 28New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Italian stocks, typically moving 9.1% 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 (-€4.3m free cash flow). Share price has been highly volatile over the past 3 months (9.1% average weekly change). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (€671k net loss in 2 years). Market cap is less than US$100m (€39.1m market cap, or US$45.4m).
New Risk • Oct 17New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Italian stocks, typically moving 5.7% 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 Risk Less than 1 year of cash runway based on free cash flow trend (-€4.3m free cash flow). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (€671k net loss in 2 years). Share price has been volatile over the past 3 months (5.7% average weekly change). Market cap is less than US$100m (€39.5m market cap, or US$46.2m).
分析記事 • Oct 13Does Growens (BIT:GROW) Have A Healthy Balance Sheet?Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
分析記事 • Aug 21Growens S.p.A.'s (BIT:GROW) Price Is Right But Growth Is LackingBIT:GROW 1 Year Share Price vs Fair Value Explore Growens's Fair Values from the Community and select yours Growens...
New Risk • Aug 06New major risk - Financial positionThe company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -€8.9m 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 Risk Less than 1 year of cash runway based on free cash flow trend (-€8.9m free cash flow). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (€1.2m net loss in 3 years). Market cap is less than US$100m (€39.8m market cap, or US$46.2m).
New Risk • Jul 15New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Italian stocks, typically moving 5.5% 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: Minor Risks Less than 1 year of cash runway based on current free cash flow (-€8.9m). Currently unprofitable and not forecast to become profitable over next 3 years (€1.2m net loss in 3 years). Share price has been volatile over the past 3 months (5.5% average weekly change). Market cap is less than US$100m (€40.0m market cap, or US$46.7m).
Upcoming Dividend • Apr 21Upcoming dividend of €0.38 per shareEligible shareholders must have bought the stock before 28 April 2025. Payment date: 30 April 2025. Trailing yield: 10%. Within top quartile of Italian dividend payers (5.8%). Higher than average of industry peers (1.1%).
New Risk • Mar 20New minor risk - ProfitabilityThe company is currently unprofitable and not forecast to become profitable over the next 3 years. Trailing 12-month net loss: €2.4m Forecast net loss in 3 years: €1.2m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.4% average weekly change). Minor Risks Less than 1 year of cash runway based on current free cash flow (-€29m). Currently unprofitable and not forecast to become profitable over next 3 years (€1.2m net loss in 3 years). Market cap is less than US$100m (€49.3m market cap, or US$53.5m).
Major Estimate Revision • Mar 20Consensus EPS estimates fall by 56%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from €82.1m to €78.8m. Losses expected to increase from €0.09 per share to €0.14. Software industry in Italy expected to see average net income growth of 53% next year. Consensus price target down from €6.85 to €5.75. Share price was steady at €3.89 over the past week.
Price Target Changed • Mar 19Price target decreased by 17% to €5.75Down from €6.95, the current price target is an average from 2 analysts. New target price is 48% above last closing price of €3.89. Stock is down 33% over the past year.
New Risk • Mar 17New major risk - Financial positionThe company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -€29m 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 (-€29m free cash flow). Share price has been highly volatile over the past 3 months (8.3% average weekly change). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (€175k net loss in 2 years). Market cap is less than US$100m (€49.2m market cap, or US$53.7m).
Reported Earnings • Mar 17Full year 2024 earnings releasedFull year 2024 results: Revenue: €74.5m (flat on FY 2023). Net loss: €2.43m (loss narrowed 17% from FY 2023). Revenue is forecast to grow 9.7% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Software industry in Italy.
分析記事 • Mar 12Investors Don't See Light At End Of Growens S.p.A.'s (BIT:GROW) Tunnel And Push Stock Down 27%The Growens S.p.A. ( BIT:GROW ) share price has fared very poorly over the last month, falling by a substantial 27...
New Risk • Feb 25New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Italian stocks, typically moving 5.7% 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: Minor Risks Share price has been volatile over the past 3 months (5.7% average weekly change). Market cap is less than US$100m (€55.2m market cap, or US$57.9m).
分析記事 • Jan 17Improved Revenues Required Before Growens S.p.A. (BIT:GROW) Shares Find Their FeetWhen you see that almost half of the companies in the Software industry in Italy have price-to-sales ratios (or "P/S...
お知らせ • Dec 25+ 3 more updatesGrowens S.p.A. to Report Nine Months, 2025 Results on Nov 04, 2025Growens S.p.A. announced that they will report nine months, 2025 results on Nov 04, 2025
New Risk • Dec 05New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 10% 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: Minor Risks Shareholders have been diluted in the past year (10% increase in shares outstanding). Market cap is less than US$100m (€72.0m market cap, or US$75.9m).
Major Estimate Revision • Oct 20Consensus EPS estimates fall by 13%The consensus outlook for fiscal year 2024 has been updated. 2024 expected loss increased from -€0.149 to -€0.169 per share. Revenue forecast of €75.8m unchanged since last update. Software industry in Italy expected to see average net income growth of 68% next year. Consensus price target broadly unchanged at €6.85. Share price rose 5.5% to €6.18 over the past week.
Reported Earnings • Sep 27First half 2024 earnings releasedFirst half 2024 results: Revenue: €36.9m (up 3.6% from 1H 2023). Net loss: €1.69m (loss narrowed 40% from 1H 2023). Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Software industry in Italy.
New Risk • Sep 26New minor risk - Financial positionThe company has less than a year of cash runway based on its current free cash flow. Free cash flow: -€24m This is considered a minor 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: Minor Risks Less than 1 year of cash runway based on current free cash flow (-€24m). Currently unprofitable and not forecast to become profitable over next 2 years (€383k net loss in 2 years). Market cap is less than US$100m (€72.6m market cap, or US$80.7m).
分析記事 • Sep 03Growens S.p.A.'s (BIT:GROW) Shareholders Might Be Looking For ExitWith a median price-to-sales (or "P/S") ratio of close to 1.3x in the Software industry in Italy, you could be forgiven...
Upcoming Dividend • Aug 26Upcoming dividend of €0.79 per shareEligible shareholders must have bought the stock before 02 September 2024. Payment date: 04 September 2024. The average dividend yield among industry peers is 1.1%.
分析記事 • May 04Growens S.p.A. (BIT:GROW) Stock Rockets 25% As Investors Are Less Pessimistic Than ExpectedDespite an already strong run, Growens S.p.A. ( BIT:GROW ) shares have been powering on, with a gain of 25% in the last...
New Risk • Apr 09New minor risk - ProfitabilityThe company is currently unprofitable and not forecast to become profitable over the next 3 years. Trailing 12-month net loss: €2.9m Forecast net loss in 3 years: €700k This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (€700k net loss in 3 years). Market cap is less than US$100m (€73.0m market cap, or US$79.3m).
お知らせ • Dec 22+ 4 more updatesGrowens S.p.A. to Report First Half, 2024 Results on Sep 24, 2024Growens S.p.A. announced that they will report first half, 2024 results on Sep 24, 2024
New Risk • Dec 04New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: €81.3m (US$87.9m) This is considered a minor risk. Companies with a small market capitalization 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 Risk Earnings are forecast to decline by an average of 40% per year for the foreseeable future. Minor Risks High level of debt (60% net debt to equity). Market cap is less than US$100m (€81.3m market cap, or US$87.9m).
お知らせ • Oct 25Squeezely Technology B.V. completed the acquisition of Datatrics B.V. from Growens S.p.A. (BIT:GROW) for €1.6 million.Squeezely Technology B.V. singed binding agreement to acquire Datatrics B.V. from Growens S.p.A. (BIT:GROW) for €1.66 million on October 9, 2023. The parties agreed on a total consideration of €1.66 million (the “Price”), based on a locked-box mechanism (i.e. without any adjustments other than potential price reductions for cash outs in favor of the seller), which will be paid in cash by the Purchaser as of the date in which the shareholding will be transferred. Revenues of the transferred assets amount to €2.5 million in FY 2022, with respective EBITDA of -€1.6 million Euro in FY 2022. The transaction tentatively expected by the end of October 2023.The Transaction implies Growens waiving approximately €7 million of intercompany loans versus Datatrics. Herbert Smith Freehills Studio Legale acted as legal counsel to Growens S.p.A. (BIT:GROW) in the transaction. Squeezely Technology B.V. completed the acquisition of Datatrics B.V. from Growens S.p.A. (BIT:GROW) for €1.6 million on October 23, 2023.
お知らせ • Oct 10Squeezely Technology B.V. singed binding agreement to acquire Datatrics B.V. from Growens S.p.A. (BIT:GROW) for €1.66 million.Squeezely Technology B.V. singed binding agreement to acquire Datatrics B.V. from Growens S.p.A. (BIT:GROW) for €1.66 million on October 9, 2023. The parties agreed on a total consideration of €1.66 million (the “Price”), based on a locked-box mechanism (i.e. without any adjustments other than potential price reductions for cash outs in favor of the seller), which will be paid in cash by the Purchaser as of the date in which the shareholding will be transferred. Revenues of the transferred assets amount to €2.5 million in FY 2022, with respective EBITDA of -€1.6 million Euro in FY 2022. The transaction tentatively expected by the end of October 2023.The Transaction implies Growens waiving approximately €7 million of intercompany loans versus Datatrics. Herbert Smith Freehills Studio Legale acted as legal counsel to Growens S.p.A. (BIT:GROW) in the transaction.
Reported Earnings • Sep 20First half 2023 earnings releasedFirst half 2023 results: Revenue: €35.6m (down 25% from 1H 2022). Net loss: €2.84m (loss widened 205% from 1H 2022). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Software industry in Italy.
New Risk • Sep 19New minor risk - Financial positionThe company has a high level of debt. Net debt to equity ratio: 60% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 52% per year for the foreseeable future. Minor Risk High level of debt (60% net debt to equity).
お知らせ • Sep 04Growens S.p.A., Annual General Meeting, Sep 18, 2023Growens S.p.A., Annual General Meeting, Sep 18, 2023, at 10:00 Central European Standard Time. Agenda: To consider and approve authorization to the purchase of treasury shares via a voluntary partial tender offer, and disposal of treasury shares. Related and resulting resolutions.
お知らせ • Jul 15TeamSystem Holding S.p.A. completed the acquisition of MailUp Unit, Contactlab S.p.A., Acumbamail S.L., MailUp Nordics A/S and Globase International A.p.S. from Growens S.p.A. (BIT:GROW) for €76.7 million.TeamSystem Holding S.p.A. entered into agreement to acquire MailUp Unit, Contactlab S.p.A., Acumbamail S.L., MailUp Nordics A/S and Globase International A.p.S. from Growens S.p.A. (BIT:GROW) for €70 million on February 2, 2023. The a total consideration of €70 million on a cash/debt free basis. Board of Directors approved the signing of a binding agreement. The Board of Directors also resolved to call the General Shareholders’ Meeting, ordinary and extraordinary session, on 9 March 2023 to approve the Transaction and the subsequent amendments to the By-Laws for the change of the corporate purpose. With respect to the latter decision, nonconcurring shareholders will be entitled to the right of withdrawal of all or part of their stake. The Board of Directors established the liquidation price at €4.39 per share. The deal will be executed tentatively after certain conditions precedent occur (or are renounced), namely (i) clearance is obtained according to the so-called “Golden Power” rule under Italian laws and regulations, (ii) approval of the Antitrust authority, (iii) affirmative vote of the Company’s ordinary and extraordinary General Shareholders’ Meeting (non-renounceable), as the Transaction implies a "fundamental change of business” under article 15 of Euronext Growth Milan Rules For Companies (see below for further information), as well as (iv) the effective contribution of the MailUp business unit (including the stake in MailUp Nordics) into Contactlab S.p.A.. the Board of Directors, having acknowledged the opinion of the Board of Statutory Auditors and BDO Italia S.p.A. (independent audit firm), as well as the valuation opinion released by CFO SIM in their capacity of independent expert, established the liquidation price at 4.39 Euro per share. The sale of the Email Service Provider business implies the transfer of a headcount of 260 people in Italy, Spain and Denmark, including Messrs Luca Azzali, Alberto Miscia and Massimo Fubini, who will take on roles within the transferred activities, while remaining shareholders of Growens S.p.A.. Closing of the Transaction will indicatively take place by the end of June 2023. Figurative revenues of the transferred assets amount to €19 million as of 30 September 2022. As of July 13, 2023, Part of the price, amounting to €4.6 million (the “Escrow Amount”) was deposited into an escrow account, in order to guarantee indemnification obligations provided by the Issuer within the Deal agreement. The Escrow Amount will be periodically released with a usual décalage method for similar deals. The Issuer was assisted by Intermonte S.p.A. as financial advisor and CFO SIM as independent expert. Jpmorgan Asset Management Europe Sarl (Italy Branch) acted as financial advisor to TeamSystem Holding S.p.A. Herbert Smith Freehills LLP acted as legal advisor to Growens S.p.A. JPMorgan Chase & Co. (NYSE:JPM) acted as financial advisor to Growens S.p.A. Freshfields Bruckhaus Deringer LLP acted as legal advisor to TeamSystem Holding S.p.A. Ernst & Young Global Limited acted as financial and tax due diligence provider to TeamSystem Holding S.p.A. TeamSystem Holding S.p.A. completed the acquisition of MailUp Unit, Contactlab S.p.A., Acumbamail S.L., MailUp Nordics A/S and Globase International A.p.S. from Growens S.p.A. (BIT:GROW) for €76.7 million on July 13, 2023.
Reported Earnings • Mar 27Full year 2022 earnings releasedFull year 2022 results: Revenue: €103.4m (up 45% from FY 2021). Net loss: €2.52m (down €2.90m from profit in FY 2021). Revenue is forecast to grow 8.6% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Software industry in Italy.
Price Target Changed • Feb 08Price target increased by 11% to €6.05Up from €5.43, the current price target is an average from 2 analysts. New target price is 9.2% above last closing price of €5.54. Stock is up 10% over the past year. The company is forecast to post a net loss per share of €0.02 compared to earnings per share of €0.026 last year.
お知らせ • Feb 04TeamSystem Holding S.p.A. entered into agreement to acquire MailUp Unit, Contactlab S.p.A., Acumbamail S.L., MailUp Nordics A/S and Globase International A.p.S. from Growens S.p.A. (BIT:GROW) for €70 million.TeamSystem Holding S.p.A. entered into agreement to acquire MailUp Unit, Contactlab S.p.A., Acumbamail S.L., MailUp Nordics A/S and Globase International A.p.S. from Growens S.p.A. (BIT:GROW) for €70 million on February 2, 2023. The a total consideration of €70 million on a cash/debt free basis. Board of Directors approved the signing of a binding agreement. The Board of Directors also resolved to call the General Shareholders’ Meeting, ordinary and extraordinary session, on 9 March 2023 to approve the Transaction and the subsequent amendments to the By-Laws for the change of the corporate purpose. With respect to the latter decision, nonconcurring shareholders will be entitled to the right of withdrawal of all or part of their stake. The Board of Directors established the liquidation price at €4.39 per share. The deal will be executed tentatively after certain conditions precedent occur (or are renounced), namely (i) clearance is obtained according to the so-called “Golden Power” rule under Italian laws and regulations, (ii) approval of the Antitrust authority, (iii) affirmative vote of the Company’s ordinary and extraordinary General Shareholders’ Meeting (non-renounceable), as the Transaction implies a "fundamental change of business” under article 15 of Euronext Growth Milan Rules For Companies (see below for further information), as well as (iv) the effective contribution of the MailUp business unit (including the stake in MailUp Nordics) into Contactlab S.p.A.. the Board of Directors, having acknowledged the opinion of the Board of Statutory Auditors and BDO Italia S.p.A. (independent audit firm), as well as the valuation opinion released by CFO SIM in their capacity of independent expert, established the liquidation price at 4.39 Euro per share. The sale of the Email Service Provider business implies the transfer of a headcount of 260 people in Italy, Spain and Denmark, including Messrs Luca Azzali, Alberto Miscia and Massimo Fubini, who will take on roles within the transferred activities, while remaining shareholders of Growens S.p.A.. Closing of the Transaction will indicatively take place by the end of June 2023. Figurative revenues of the transferred assets amount to €19 million as of 30 September 2022. The Issuer was assisted by Intermonte S.p.A. as financial advisor and CFO SIM as independent expert.
お知らせ • Dec 23+ 3 more updatesGrowens S.p.A. to Report Q1, 2023 Results on May 09, 2023Growens S.p.A. announced that they will report Q1, 2023 results on May 09, 2023
Board Change • Nov 16Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. 1 independent director (4 non-independent directors). Independent Director Ignazio Castiglioni was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
Reported Earnings • Sep 17First half 2022 earnings released: €0.063 loss per share (vs €0.02 profit in 1H 2021)First half 2022 results: €0.063 loss per share (down from €0.02 profit in 1H 2021). Revenue: €47.2m (up 40% from 1H 2021). Net loss: €930.9k (down 411% from profit in 1H 2021). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Software industry in Italy. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 75 percentage points per year, which is a significant difference in performance.
Major Estimate Revision • Sep 14Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 revenue forecast increased from €92.3m to €96.4m. EPS estimate fell from €0.09 to €0.06 per share. Net income forecast to grow 8.5% next year vs 35% growth forecast for Software industry in Italy. Consensus price target down from €6.37 to €5.80. Share price fell 6.0% to €4.37 over the past week.
Price Target Changed • Sep 13Price target decreased to €5.80Down from €6.52, the current price target is an average from 3 analysts. New target price is 33% above last closing price of €4.37. Stock is down 1.8% over the past year. The company is forecast to post earnings per share of €0.093 for next year compared to €0.026 last year.
分析記事 • Jul 07Calculating The Intrinsic Value Of Growens S.p.A. (BIT:GROW)How far off is Growens S.p.A. ( BIT:GROW ) from its intrinsic value? Using the most recent financial data, we'll take a...
Board Change • Apr 27Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. 1 independent director (4 non-independent directors). Independent Director Ignazio Castiglioni was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
お知らせ • Apr 14Growens S.p.A. (BIT:GROW) completed the acquisition of Contactlab Srl from Programma 101, a fund managed by P101 SGR S.p.A. Massimo Fubini and Elisa Martelli.Growens S.p.A. (BIT:GROW) entered into an agreement to acquire Contactlab Srl from Programma 101, a fund managed by P101 SGR S.p.A. Massimo Fubini and Elisa Martelli for €11.3 million on April 4, 2022. A total consideration (Equity Value) of €5 million to be paid as follows:(i) as per €3.750 million in cash (from the Company liquid funds) versus the purchase of n. 827,617 class A and B Contactlab shares (respectively owned by all the Selling Shareholders amounting to ca. 67.4% of its share capital), to be paid on the date of closing;(ii) as per €1.250 million, versus the purchase of the remaining 400,955 class A and B Contactlab shares respectively owned by all the Selling Shareholders amounting to 32.6% of its share capital, in kind, via the attribution of 188,822 treasury shares of the Issuer, on the date of closing (the “Purchase Price Shares”). The implied value of the Purchase Price Shares is €6.62 per share, with a 29% premium on the official price of 1 April, 2022. In addition to the above, an earn-out provision will be granted to the Selling Shareholders for a total consideration up to €6.6 million, upon achieving certain strategic and cumulated combined profitability goals for Growens and Contactlab over the time span 2022-2024. The potential earn-out will be paid: (i) to P101, exclusively in cash, (ii) to the remaining Selling Shareholders other than P101, at Growens’ choice in cash or in kind up to 40% in Growens shares (the “Earn-out Shares”), based on the weighted average official price of Growens shares over the last 90 trading days before the earn-out maturity date, plus 10%. FY 2021 preliminary revenues of €10.9 million, and EBITDA €1 million. Following the Transaction, Massimo Fubini (current CEO and founder of Contactlab) will be responsible for the combined MailUp+Contactlab business unit. Transaction will also include certain management agreements, including the appointment of Massimo Fubini as a director within the Group. The closing of the Transaction will indicatively take place by the end of May 2022. Growens S.p.A. (BIT:GROW) completed the acquisition of Contactlab Srl from Programma 101, a fund managed by P101 SGR S.p.A. Massimo Fubini and Elisa Martelli on April 13, 2022.
Major Estimate Revision • Apr 12Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 revenue forecast increased from €80.0m to €92.3m. EPS estimate fell from €0.09 to €0.08. Net income forecast to grow 266% next year vs 63% growth forecast for Software industry in Italy. Consensus price target up from €6.22 to €6.45. Share price rose 3.2% to €5.20 over the past week.
お知らせ • Apr 06Growens S.p.A. (BIT:GROW) entered into an agreement to acquire Contactlab Srl from Programma 101, a fund managed by P101 SGR S.p.A. Massimo Fubini and Elisa Martelli for €11.3 million.Growens S.p.A. (BIT:GROW) entered into an agreement to acquire Contactlab Srl from Programma 101, a fund managed by P101 SGR S.p.A. Massimo Fubini and Elisa Martelli for €11.3 million on April 4, 2022. A total consideration (Equity Value) of € 5 million to be paid as follows:(i) as per €3.750 million in cash (from the Company liquid funds) versus the purchase of n. 827,617 class A and B Contactlab shares (respectively owned by all the Selling Shareholders amounting to ca. 67.4% of its share capital), to be paid on the date of closing;(ii) as per €1.250 million, versus the purchase of the remaining n. 400,955 class A and B Contactlab shares respectively owned by all the Selling Shareholders amounting to ca. 32.6% of its share capital, in kind, via the attribution of n. 188,822 treasury shares of the Issuer, on the date of closing (the “Purchase Price Shares”). The implied value of the Purchase Price Shares is €6.62 per share, with a ca. 29% premium on the official price of 1 April, 2022. In addition to the above, an earn-out provision will be granted to the Selling Shareholders for a total consideration up to €6.6 million, upon achieving certain strategic and cumulated combined profitability goals for Growens and Contactlab over the time span 2022-2024. The potential earn-out will be paid: (i) to P101, exclusively in cash, (ii) to the remaining Selling Shareholders other than P101, at Growens’ choice in cash or in kind up to 40% in Growens shares (the “Earn-out Shares”), based on the weighted average official price of Growens shares over the last 90 trading days before the earn-out maturity date, plus 10%. FY 2021 preliminary revenues of €10.9 million, and EBITDA ca. €1 million. Following the Transaction, Massimo Fubini (current CEO and founder of Contactlab) will be responsible for the combined MailUp+Contactlab business unit. Transaction will also include certain management agreements, including the appointment of Massimo Fubini as a director within the Group. The closing of the Transaction will indicatively take place by the end of May 2022.
Major Estimate Revision • Mar 30Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 revenue forecast increased from €78.0m to €80.0m. EPS estimate fell from €0.14 to €0.09 per share. Net income forecast to grow 293% next year vs 49% growth forecast for Software industry in Italy. Consensus price target broadly unchanged at €6.35. Share price rose 5.7% to €5.16 over the past week.
Reported Earnings • Mar 28Full year 2021 earnings: Revenues exceed analyst expectationsFull year 2021 results: Revenue: €71.2m (up 9.2% from FY 2020). Net income: €368.6k (down 35% from FY 2020). Profit margin: 0.5% (down from 0.9% in FY 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.3%. Over the next year, revenue is forecast to grow 10%, compared to a 31% growth forecast for the industry in Italy.
分析記事 • Nov 17Is There An Opportunity With Growens S.p.A.'s (BIT:GROW) 26% Undervaluation?How far off is Growens S.p.A. ( BIT:GROW ) from its intrinsic value? Using the most recent financial data, we'll take a...
Reported Earnings • Sep 18First half 2021 earnings releasedThe company reported a soft first half result with weaker earnings and profit margins, although revenues improved. First half 2021 results: Revenue: €33.7m (up 6.3% from 1H 2020). Net income: €299.0k (down 26% from 1H 2020). Profit margin: 0.9% (down from 1.3% in 1H 2020). The decrease in margin was driven by higher expenses.
分析記事 • Apr 15These 4 Measures Indicate That MailUp (BIT:MAIL) Is Using Debt ExtensivelyWarren Buffett famously said, 'Volatility is far from synonymous with risk.' When we think about how risky a company...
分析記事 • Mar 28MailUp S.p.A. (BIT:MAIL) Just Reported Yearly Earnings: Have Analysts Changed Their Mind On The Stock?Last week, you might have seen that MailUp S.p.A. ( BIT:MAIL ) released its yearly result to the market. The early...
Reported Earnings • Mar 27Full year 2020 earnings releasedThe company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: €65.2m (up 7.3% from FY 2019). Net income: €564.9k (down 51% from FY 2019). Profit margin: 0.9% (down from 1.9% in FY 2019). The decrease in margin was driven by higher expenses.
Is New 90 Day High Low • Mar 14New 90-day low: €4.31The company is down 7.0% from its price of €4.65 on 14 December 2020. The Italian market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is up 20% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €4.43 per share.
分析記事 • Mar 09A Look At The Intrinsic Value Of MailUp S.p.A. (BIT:MAIL)Today we will run through one way of estimating the intrinsic value of MailUp S.p.A. ( BIT:MAIL ) by projecting its...
分析記事 • Feb 09Are MailUp's (BIT:MAIL) Statutory Earnings A Good Reflection Of Its Earnings Potential?As a general rule, we think profitable companies are less risky than companies that lose money. However, sometimes...
分析記事 • Jan 22Are Insiders Selling MailUp S.p.A. (BIT:MAIL) Stock?It is not uncommon to see companies perform well in the years after insiders buy shares. Unfortunately, there are also...
お知らせ • Jan 14MailUp S.p.A., Annual General Meeting, Apr 22, 2021MailUp S.p.A., Annual General Meeting, Apr 22, 2021.
分析記事 • Jan 04MailUp S.p.A. (BIT:MAIL) Stock's Been Sliding But Fundamentals Look Decent: Will The Market Correct The Share Price In The Future?With its stock down 12% over the past three months, it is easy to disregard MailUp (BIT:MAIL). But if you pay close...
分析記事 • Dec 16MailUp (BIT:MAIL) Has A Pretty Healthy Balance SheetWarren Buffett famously said, 'Volatility is far from synonymous with risk.' It's only natural to consider a company's...
分析記事 • Dec 01The MailUp (BIT:MAIL) Share Price Has Gained 96% And Shareholders Are Hoping For MoreIt hasn't been the best quarter for MailUp S.p.A. (BIT:MAIL) shareholders, since the share price has fallen 18% in...
Is New 90 Day High Low • Oct 21New 90-day low: €4.78The company is down 8.0% from its price of €5.18 on 23 July 2020. The Italian market is down 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €2.59 per share.
Is New 90 Day High Low • Sep 25New 90-day low: €4.82The company is down 11% from its price of €5.40 on 26 June 2020. The Italian market is down 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €2.70 per share.
Price Target Changed • Sep 23Price target raised to €5.98Up from €5.05, the current price target is an average from 2 analysts. The new target price is 18% above the current share price of €5.06. As of last close, the stock is up 26% over the past year.
Reported Earnings • Sep 18First half earnings releasedOver the last 12 months the company has reported total profits of €1.14m, down 3.6% from the prior year. Total revenue was €63.2m over the last 12 months, up 23% from the prior year.
