Major Estimate Revision • May 26
Consensus EPS estimates fall by 36% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from €20.6m to €19.0m. EPS estimate also fell from €0.355 per share to €0.226 per share. Net income forecast to grow 127,941% next year vs 34% growth forecast for Electrical industry in Italy. Consensus price target of €3.50 unchanged from last update. Share price fell 2.9% to €1.65 over the past week. New Risk • May 11
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.7x 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 Risk Interest payments are not well covered by earnings (1.7x net interest cover). Minor Risks Share price has been volatile over the past 3 months (7.3% average weekly change). Market cap is less than US$100m (€12.3m market cap, or US$14.5m). 공시 • May 05
Lemon Sistemi S.p.A., Annual General Meeting, May 21, 2026 Lemon Sistemi S.p.A., Annual General Meeting, May 21, 2026, at 17:00 W. Europe Standard Time. Location: sita in balestrate via iv novembre 23, pa Italy New Risk • Apr 19
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. 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 Risk High level of non-cash earnings (37% accrual ratio). Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Market cap is less than US$100m (€12.1m market cap, or US$14.2m). New Risk • Apr 13
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Italian stocks, typically moving 6.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (37% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (6.3% average weekly change). Market cap is less than US$100m (€12.1m market cap, or US$14.2m). Buy Or Sell Opportunity • Mar 30
Now 23% overvalued Over the last 90 days, the stock has fallen 20% to €1.36. The fair value is estimated to be €1.11, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue is forecast to grow by 154% in 2 years. Earnings are forecast to grow by 273% in the next 2 years. New Risk • Jan 28
New major risk - Revenue and earnings growth Revenue has declined by 27% over the past year. 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 revenues are declining, then it is difficult for the company to prevent its earnings from declining as well. A trend of falling revenue 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 Revenue has declined by 27% over the past year. High level of non-cash earnings (37% accrual ratio). Minor Risk Market cap is less than US$100m (€13.3m market cap, or US$16.0m). New Risk • Jul 02
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Italian stocks, typically moving 6.6% 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 (6.6% average weekly change). Market cap is less than US$100m (€18.0m market cap, or US$21.2m). 공시 • Apr 15
Lemon Sistemi S.p.A., Annual General Meeting, Apr 28, 2025 Lemon Sistemi S.p.A., Annual General Meeting, Apr 28, 2025, at 11:00 W. Europe Standard Time. Location: via iv novembre 23, balestrate pa Italy Reported Earnings • Apr 14
Full year 2024 earnings released Full year 2024 results: Revenue: €9.07m (down 43% from FY 2023). Net loss: €1.16m (down 174% from profit in FY 2023). Revenue is forecast to grow 37% p.a. on average during the next 3 years, compared to a 7.0% growth forecast for the Electrical industry in Italy. New Risk • Apr 14
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 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: Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Market cap is less than US$100m (€14.3m market cap, or US$16.2m). New Risk • May 31
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Italian stocks, typically moving 7.1% 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 No financial data reported. Minor Risks Share price has been volatile over the past 3 months (7.1% average weekly change). Market cap is less than US$100m (€18.2m market cap, or US$19.7m). 공시 • Dec 30
Lemon Sistemi S.p.A. has completed an IPO in the amount of €2.658943 million. Lemon Sistemi S.p.A. has completed an IPO in the amount of €2.658943 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 1,808,805
Price\Range: €1.47
Security Features: Attached Warrants