New Risk • May 01
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended December 2024. This is considered a major risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. In the worst case scenario, it may be facing other major going concern issues jeopardizing its viability as a listed company. Currently, the following risks have been identified for the company: Major Risks Latest financial reports are more than 1 year old (reported December 2024 fiscal period end). Interest payments are not well covered by earnings (2.7x net interest cover). Share price has been highly volatile over the past 3 months (9.8% average weekly change). Revenue has declined by 1.6% over the past year. Market cap is less than US$10m (Kč94.1m market cap, or US$4.53m). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.2% net profit margin). New Risk • Nov 16
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.7x net interest cover). Earnings have declined by 15% per year over the past 5 years. Market cap is less than US$10m (Kč113.7m market cap, or US$5.47m). Minor Risks Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.2% net profit margin). New Risk • May 09
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.7x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.7x net interest cover). Share price has been highly volatile over the past 3 months (9.4% average weekly change). Earnings have declined by 30% per year over the past 5 years. Market cap is less than US$10m (Kč124.5m market cap, or US$5.61m). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.2% net profit margin). New Risk • May 02
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Czech 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 Share price has been highly volatile over the past 3 months (9.1% average weekly change). Revenue has declined by 6.0% over the past year. Market cap is less than US$10m (Kč124.5m market cap, or US$5.64m). Minor Risks High level of debt (96% net debt to equity). Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Large one-off items impacting financial results. New Risk • Jan 14
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). Revenue has declined by 6.0% over the past year. Market cap is less than US$10m (Kč135.2m market cap, or US$5.49m). Minor Risks High level of debt (96% net debt to equity). Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Aug 21
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to Kč83.00, the stock trades at a trailing P/E ratio of 15.6x. Average trailing P/E is 32x in the Software industry in Europe. Total loss to shareholders of 8.3% over the past three years. New Risk • May 18
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended December 2022. This is considered a major risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. In the worst case scenario, it may be facing other major going concern issues jeopardizing its viability as a listed company. Currently, the following risks have been identified for the company: Major Risks Latest financial reports are more than 1 year old (reported December 2022 fiscal period end). Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (43% accrual ratio). Market cap is less than US$10m (Kč137.2m market cap, or US$6.04m). Minor Risk Profit margins are more than 30% lower than last year (1.1% net profit margin). Valuation Update With 7 Day Price Move • Dec 12
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to Kč60.00, the stock trades at a trailing P/E ratio of 46.6x. Average trailing P/E is 32x in the Software industry in Europe. Total loss to shareholders of 1.6% over the past three years. New Risk • Dec 04
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (9.8% average weekly change). Earnings have declined by 9.8% per year over the past 5 years. High level of non-cash earnings (43% accrual ratio). Market cap is less than US$10m (Kč137.2m market cap, or US$6.15m). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Profit margins are more than 30% lower than last year (1.1% net profit margin). Reported Earnings • May 22
Full year 2022 earnings released Full year 2022 results: Revenue: Kč227.9m (up 8.8% from FY 2021). Net income: Kč2.53m (down 51% from FY 2021). Profit margin: 1.1% (down from 2.5% in FY 2021). Valuation Update With 7 Day Price Move • Aug 03
Investor sentiment improved over the past week After last week's 30% share price gain to Kč97.50, the stock trades at a trailing P/E ratio of 36.8x. Average trailing P/E is 33x in the Software industry in Europe. Total returns to shareholders of 10% over the past year. Valuation Update With 7 Day Price Move • Jul 18
Investor sentiment deteriorated over the past week After last week's 24% share price decline to Kč75.00, the stock trades at a trailing P/E ratio of 28.3x. Average trailing P/E is 32x in the Software industry in Europe. Total loss to shareholders of 18% over the past year. Valuation Update With 7 Day Price Move • Jul 04
Investor sentiment deteriorated over the past week After last week's 27% share price decline to Kč98.00, the stock trades at a trailing P/E ratio of 37x. Average trailing P/E is 32x in the Software industry in Europe. Total returns to shareholders of 9.5% over the past year. Valuation Update With 7 Day Price Move • Feb 17
Investor sentiment improved over the past week After last week's 29% share price gain to Kč88.00, the stock is trading at a trailing P/E ratio of 12.4x, up from the previous P/E ratio of 9.6x. This compares to an average P/E of 42x in the Software industry in Europe.