공시 • May 20
11 bit studios S.A., Annual General Meeting, Jun 16, 2026 11 bit studios S.A., Annual General Meeting, Jun 16, 2026, at 11:00 Central European Standard Time. Reported Earnings • Apr 22
Full year 2025 earnings released: EPS: zł2.87 (vs zł2.85 in FY 2024) Full year 2025 results: EPS: zł2.87 (up from zł2.85 in FY 2024). Revenue: zł142.2m (up 1.2% from FY 2024). Net income: zł6.94m (flat on FY 2024). Profit margin: 4.9% (in line with FY 2024). Revenue is expected to decline by 1.4% p.a. on average during the next 3 years, while revenues in the Entertainment industry in Germany are expected to grow by 4.4%. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 33% per year, which means it has not declined as severely as earnings. New Risk • Dec 17
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €84.8m (US$99.6m) 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. This is currently the only risk that has been identified for the company. 공시 • Nov 15
11 bit studios S.A. to Report Q3, 2025 Results on Nov 20, 2025 11 bit studios S.A. announced that they will report Q3, 2025 results on Nov 20, 2025 Reported Earnings • Aug 31
Second quarter 2025 earnings released: EPS: zł6.15 (vs zł0.46 in 2Q 2024) Second quarter 2025 results: EPS: zł6.15 (up from zł0.46 in 2Q 2024). Revenue: zł39.7m (up 158% from 2Q 2024). Net income: zł14.9m (up zł13.7m from 2Q 2024). Profit margin: 37% (up from 7.3% in 2Q 2024). Revenue is expected to decline by 6.1% p.a. on average during the next 3 years, while revenues in the Entertainment industry in Germany are expected to grow by 5.8%. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has only fallen by 26% per year, which means it has not declined as severely as earnings. 공시 • Aug 20
11 bit studios S.A. to Report First Half, 2025 Results on Aug 28, 2025 11 bit studios S.A. announced that they will report first half, 2025 results on Aug 28, 2025 Reported Earnings • May 17
First quarter 2025 earnings released First quarter 2025 results: Net income: (up zł1.61m from 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has only fallen by 24% per year, which means it has not declined as severely as earnings. New Risk • May 16
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 83% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Shares are highly illiquid. Earnings are forecast to decline by an average of 83% per year for the foreseeable future. Minor Risk Large one-off items impacting financial results. Reported Earnings • Apr 17
Third quarter 2024 earnings released: EPS: zł19.87 (vs zł1.30 loss in 3Q 2023) Third quarter 2024 results: EPS: zł19.87 (up from zł1.30 loss in 3Q 2023). Revenue: zł75.9m (up zł66.4m from 3Q 2023). Net income: zł48.0m (up zł50.7m from 3Q 2023). Profit margin: 63% (up from net loss in 3Q 2023). The move to profitability was driven by higher revenue. Revenue is forecast to stay flat during the next 4 years compared to a 6.2% growth forecast for the Entertainment industry in Germany. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 26% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Apr 17
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €49.44, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 43x in the Entertainment industry in Germany. Total loss to shareholders of 60% over the past three years. New Risk • Mar 11
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.0% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings are forecast to decline by an average of 1.0% per year for the foreseeable future. High level of non-cash earnings (40% accrual ratio). New Risk • Feb 02
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.8% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (13% average weekly change). Earnings are forecast to decline by an average of 0.8% per year for the foreseeable future. High level of non-cash earnings (40% accrual ratio). New Risk • Jan 03
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.4% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Earnings are forecast to decline by an average of 0.4% per year for the foreseeable future. High level of non-cash earnings (40% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (12% average weekly change). Valuation Update With 7 Day Price Move • Jan 02
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €42.55, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 17x in the Entertainment industry in Germany. Total loss to shareholders of 64% over the past three years. New Risk • Dec 17
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €85.0m (US$89.3m) 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 Risks Share price has been highly volatile over the past 3 months (17% average weekly change). High level of non-cash earnings (40% accrual ratio). Minor Risk Market cap is less than US$100m (€85.0m market cap, or US$89.3m). Valuation Update With 7 Day Price Move • Dec 11
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to €47.80, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 17x in the Entertainment industry in Germany. Total loss to shareholders of 59% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €47.22 per share. Reported Earnings • Nov 18
Third quarter 2024 earnings released: EPS: zł19.87 (vs zł1.30 loss in 3Q 2023) Third quarter 2024 results: EPS: zł19.87 (up from zł1.30 loss in 3Q 2023). Revenue: zł75.9m (up zł66.4m from 3Q 2023). Net income: zł48.0m (up zł50.7m from 3Q 2023). Profit margin: 63% (up from net loss in 3Q 2023). The move to profitability was driven by higher revenue. Revenue is expected to decline by 5.5% p.a. on average during the next 3 years, while revenues in the Entertainment industry in Germany are expected to grow by 6.3%. Over the last 3 years on average, earnings per share has fallen by 14% per year whereas the company’s share price has fallen by 16% per year. Buy Or Sell Opportunity • Oct 12
Now 24% overvalued Over the last 90 days, the stock has fallen 55% to €65.10. The fair value is estimated to be €52.61, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 12% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Aug 29
Second quarter 2024 earnings released: EPS: zł0.46 (vs zł1.17 in 2Q 2023) Second quarter 2024 results: EPS: zł0.46 (down from zł1.17 in 2Q 2023). Revenue: zł15.4m (up 54% from 2Q 2023). Net income: zł1.13m (down 27% from 2Q 2023). Profit margin: 7.3% (down from 16% in 2Q 2023). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Entertainment industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 80 percentage points per year, which is a significant difference in performance. 공시 • Jun 20
11 Bit Studios Sets Release Date of Creatures of Ava Game on Pc and Xbox for August 7, 2024 11 bit studios have set the global release date of Creatures of Ava game on PC and Xbox series X and S for August 7, 2024. The game will be available on the Game Pass subscription service for Xbox and PC on the release date. Reported Earnings • May 24
First quarter 2024 earnings released: zł0.66 loss per share (vs zł1.04 profit in 1Q 2023) First quarter 2024 results: zł0.66 loss per share (down from zł1.04 profit in 1Q 2023). Revenue: zł15.3m (up 3.8% from 1Q 2023). Net loss: zł1.61m (down 165% from profit in 1Q 2023). Revenue is forecast to grow 8.6% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Entertainment industry in Germany. Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. 공시 • May 14
11 bit studios S.A., Annual General Meeting, Jun 06, 2024 11 bit studios S.A., Annual General Meeting, Jun 06, 2024. Reported Earnings • Apr 23
Full year 2023 earnings released: EPS: zł0.22 (vs zł9.66 in FY 2022) Full year 2023 results: EPS: zł0.22 (down from zł9.66 in FY 2022). Revenue: zł52.4m (down 29% from FY 2022). Net income: zł525.6k (down 98% from FY 2022). Profit margin: 1.0% (down from 31% in FY 2022). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Entertainment industry in Germany. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. 공시 • Oct 11
11 Bit Studio Releases New Game on December 5,2023 11 bit studios has set a release date on December 5th this year for the PC version of the game "The Thaumaturge". The release of the console version of the game for the XBOX Series X/S and PlayStation 5 platforms is planned for early 2024. Reported Earnings • Aug 28
Second quarter 2023 earnings released: EPS: zł1.17 (vs zł4.74 in 2Q 2022) Second quarter 2023 results: EPS: zł1.17 (down from zł4.74 in 2Q 2022). Revenue: zł9.99m (down 64% from 2Q 2022). Net income: zł1.55m (down 86% from 2Q 2022). Profit margin: 16% (down from 40% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 30% p.a. on average during the next 3 years, compared to a 1.7% growth forecast for the Entertainment industry in Germany. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jun 23
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to €161, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 19x in the Entertainment industry in Europe. Total returns to shareholders of 16% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €88.10 per share. Reported Earnings • May 30
First quarter 2023 earnings released: EPS: zł1.04 (vs zł1.61 in 1Q 2022) First quarter 2023 results: EPS: zł1.04 (down from zł1.61 in 1Q 2022). Revenue: zł14.8m (down 17% from 1Q 2022). Net income: zł2.47m (down 35% from 1Q 2022). Profit margin: 17% (down from 21% in 1Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Entertainment industry in Germany. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. 공시 • May 09
11 bit studios S.A., Annual General Meeting, May 31, 2023 11 bit studios S.A., Annual General Meeting, May 31, 2023, at 11:00 Central European Standard Time. Reported Earnings • Apr 09
Full year 2022 earnings released: EPS: zł9.66 (vs zł12.17 in FY 2021) Full year 2022 results: EPS: zł9.66 (down from zł12.17 in FY 2021). Revenue: zł74.3m (up 5.9% from FY 2021). Net income: zł22.9m (down 20% from FY 2021). Profit margin: 31% (down from 41% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Entertainment industry in Germany. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Reported Earnings • Nov 19
Third quarter 2022 earnings released: EPS: zł2.05 (vs zł1.72 in 3Q 2021) Third quarter 2022 results: EPS: zł2.05 (up from zł1.72 in 3Q 2021). Revenue: zł13.8m (up 3.1% from 3Q 2021). Net income: zł4.88m (up 19% from 3Q 2021). Profit margin: 35% (up from 31% in 3Q 2021). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Entertainment industry in Germany. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Reported Earnings • Oct 01
Second quarter 2022 earnings released: EPS: zł4.74 (vs zł4.09 in 2Q 2021) Second quarter 2022 results: EPS: zł4.74 (up from zł4.09 in 2Q 2021). Revenue: zł28.0m (up 34% from 2Q 2021). Net income: zł11.3m (up 16% from 2Q 2021). Profit margin: 40% (down from 47% in 2Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Entertainment industry in Germany. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has increased by 7% per year. Reported Earnings • May 31
First quarter 2022 earnings released First quarter 2022 results: Net income: zł3.77m (up 6.0% from 1Q 2021). 공시 • May 21
11 bit studios S.A., Annual General Meeting, Jun 21, 2022 11 bit studios S.A., Annual General Meeting, Jun 21, 2022, at 11:00 Central European Standard Time. Reported Earnings • Mar 29
Full year 2021 earnings released: EPS: zł12.13 (vs zł16.13 in FY 2020) Full year 2021 results: EPS: zł12.13 (down from zł16.13 in FY 2020). Revenue: zł70.1m (down 20% from FY 2020). Net income: zł28.7m (down 23% from FY 2020). Profit margin: 41% (down from 43% in FY 2020). The decrease in margin was driven by lower revenue. Over the next year, revenue is expected to shrink by 28% compared to a 176% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Reported Earnings • Nov 20
Third quarter 2021 earnings released: EPS zł1.72 (vs zł3.02 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: zł13.6m (down 25% from 3Q 2020). Net income: zł4.09m (down 43% from 3Q 2020). Profit margin: 30% (down from 40% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Recent Insider Transactions • Sep 04
Member of Management Board recently sold €699k worth of stock On the 2nd of September, Grzegorz Miechowski sold around 7k shares on-market at roughly €99.81 per share. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Reported Earnings • Aug 29
Second quarter 2021 earnings released: EPS zł4.09 (vs zł3.71 in 2Q 2020) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: zł21.0m (up 6.7% from 2Q 2020). Net income: zł9.75m (down 7.2% from 2Q 2020). Profit margin: 47% (down from 54% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 1% per year. Reported Earnings • May 04
Full year 2020 earnings released: EPS zł16.13 (vs zł9.49 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: zł87.4m (up 23% from FY 2019). Net income: zł37.4m (up 72% from FY 2019). Profit margin: 43% (up from 31% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Feb 10
New 90-day high: €120 The company is up 7.0% from its price of €112 on 11 November 2020. The German market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Entertainment industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €53.80 per share. Is New 90 Day High Low • Jan 14
New 90-day low: €100 The company is down 2.0% from its price of €102 on 15 October 2020. The German market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Entertainment industry, which is up 24% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €51.54 per share. Is New 90 Day High Low • Dec 22
New 90-day low: €100.00 The company is down 7.0% from its price of €108 on 22 September 2020. The German market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Entertainment industry, which is up 18% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €183 per share. Reported Earnings • Nov 22
Third quarter 2020 earnings released: EPS zł3.02 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: zł18.0m (down 3.7% from 3Q 2019). Net income: zł7.11m (up zł6.02m from 3Q 2019). Profit margin: 40% (up from 5.8% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 40% per year whereas the company’s share price has increased by 39% per year. Is New 90 Day High Low • Oct 15
New 90-day low: €102 The company is down 16% from its price of €121 on 17 July 2020. The German market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Entertainment industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €48.09 per share.