New Risk • Apr 09
New major risk - Revenue and earnings growth Earnings have declined by 13% 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 Earnings have declined by 13% per year over the past 5 years. Revenue is less than US$1m (zł839k revenue, or US$230k). Market cap is less than US$10m (zł4.40m market cap, or US$1.21m). Minor Risk Share price has been volatile over the past 3 months (8.0% average weekly change). Reported Earnings • Nov 20
Third quarter 2025 earnings released Third quarter 2025 results: Revenue: zł209.8k (down 36% from 3Q 2024). Net income: zł290 (down 100% from 3Q 2024). Profit margin: 0.1% (down from 44% in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 98% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. 공시 • Nov 12
Jujubee S.A. to Report Q3, 2025 Results on Nov 14, 2025 Jujubee S.A. announced that they will report Q3, 2025 results on Nov 14, 2025 Valuation Update With 7 Day Price Move • Oct 30
Investor sentiment deteriorates as stock falls 28% After last week's 28% share price decline to zł1.41, the stock trades at a trailing P/E ratio of 64.8x. Average trailing P/E is 15x in the Entertainment industry in Poland. Total loss to shareholders of 26% over the past three years. Reported Earnings • Aug 19
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: zł250.0k (down 3.5% from 2Q 2024). Net income: zł18.9k (down 77% from 2Q 2024). Profit margin: 7.6% (down from 31% in 2Q 2024). Valuation Update With 7 Day Price Move • Jul 11
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to zł1.70, the stock trades at a trailing P/E ratio of 55.9x. Average trailing P/E is 14x in the Entertainment industry in Poland. Total returns to shareholders of 23% over the past three years. Valuation Update With 7 Day Price Move • Jun 13
Investor sentiment improves as stock rises 39% After last week's 39% share price gain to zł1.74, the stock trades at a trailing P/E ratio of 57.2x. Average trailing P/E is 14x in the Entertainment industry in Poland. Total returns to shareholders of 27% over the past three years. New Risk • May 28
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 29% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (29% accrual ratio). Shareholders have been substantially diluted in the past year (31% increase in shares outstanding). Revenue is less than US$1m (zł1.2m revenue, or US$314k). Market cap is less than US$10m (zł9.47m market cap, or US$2.52m). Minor Risks Share price has been volatile over the past 3 months (7.6% average weekly change). Profit margins are more than 30% lower than last year (18% net profit margin). New Risk • May 27
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Polish stocks, typically moving 7.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (31% increase in shares outstanding). Revenue is less than US$1m (zł1.1m revenue, or US$305k). Market cap is less than US$10m (zł9.81m market cap, or US$2.62m). Minor Risks Share price has been volatile over the past 3 months (7.5% average weekly change). Large one-off items impacting financial results. New Risk • Apr 04
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 31% This is considered a major 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: Major Risks Shareholders have been substantially diluted in the past year (31% increase in shares outstanding). Revenue is less than US$1m (zł1.1m revenue, or US$296k). Market cap is less than US$10m (zł9.74m market cap, or US$2.53m). Minor Risk Share price has been volatile over the past 3 months (7.4% average weekly change). Reported Earnings • Mar 24
Full year 2024 earnings released Full year 2024 results: Revenue: zł1.14m (down 16% from FY 2023). Net income: zł253.5k (down 36% from FY 2023). Profit margin: 22% (down from 29% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 120% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Feb 04
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to zł1.55, the stock trades at a trailing P/E ratio of 18.5x. Average trailing P/E is 14x in the Entertainment industry in Poland. Total loss to shareholders of 49% over the past three years. Valuation Update With 7 Day Price Move • Jan 08
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to zł1.97, the stock trades at a trailing P/E ratio of 23.5x. Average trailing P/E is 14x in the Entertainment industry in Poland. Total loss to shareholders of 41% over the past three years. Valuation Update With 7 Day Price Move • Dec 05
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to zł1.76, the stock trades at a trailing P/E ratio of 21x. Average trailing P/E is 14x in the Entertainment industry in Poland. Total loss to shareholders of 34% over the past three years. Reported Earnings • Nov 20
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: zł327.9k (down 1.1% from 3Q 2023). Net income: zł145.4k (down 21% from 3Q 2023). Profit margin: 44% (down from 55% in 3Q 2023). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 87% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Oct 11
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to zł2.20, the stock trades at a trailing P/E ratio of 28.2x. Average trailing P/E is 14x in the Entertainment industry in Poland. Total loss to shareholders of 44% over the past three years. Valuation Update With 7 Day Price Move • Sep 26
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to zł1.85, the stock trades at a trailing P/E ratio of 23.7x. Average trailing P/E is 16x in the Entertainment industry in Poland. Total loss to shareholders of 52% over the past three years. Valuation Update With 7 Day Price Move • Jul 22
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to zł1.50, the stock trades at a trailing P/E ratio of 19.2x. Average trailing P/E is 19x in the Entertainment industry in Poland. Total loss to shareholders of 63% over the past three years. Valuation Update With 7 Day Price Move • Jul 02
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to zł1.18, the stock trades at a trailing P/E ratio of 15.1x. Average trailing P/E is 19x in the Entertainment industry in Poland. Total loss to shareholders of 73% over the past three years. 공시 • Jun 05
Jujubee S.A., Annual General Meeting, Jun 27, 2024 Jujubee S.A., Annual General Meeting, Jun 27, 2024. Valuation Update With 7 Day Price Move • May 28
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to zł1.33, the stock trades at a trailing P/E ratio of 17.1x. Average trailing P/E is 22x in the Entertainment industry in Poland. Total loss to shareholders of 71% over the past three years. Reported Earnings • May 20
First quarter 2024 earnings released First quarter 2024 results: Revenue: zł252.6k (down 25% from 1Q 2023). Net income: zł80.7k (up 23% from 1Q 2023). Profit margin: 32% (up from 20% in 1Q 2023). The increase in margin was driven by lower expenses. New Risk • Apr 10
New major risk - Revenue and earnings growth Revenue has declined by 15% 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 15% over the past year. Revenue is less than US$1m (zł870k revenue, or US$222k). Market cap is less than US$10m (zł5.06m market cap, or US$1.29m). Minor Risks Latest financial reports are more than 6 months old (reported March 2023 fiscal period end). Shareholders have been diluted in the past year (9.8% increase in shares outstanding). Buy Or Sell Opportunity • Mar 14
Now 21% overvalued Over the last 90 days, the stock has fallen 7.4% to zł1.07. The fair value is estimated to be zł0.88, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 2.8% over the last 3 years. Earnings per share has grown by 67%. Buy Or Sell Opportunity • Feb 12
Now 24% overvalued Over the last 90 days, the stock has fallen 36% to zł1.10. The fair value is estimated to be zł0.89, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 2.8% over the last 3 years. Earnings per share has grown by 67%. New Risk • Dec 01
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended March 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 Revenue is less than US$1m (zł870k revenue, or US$218k). Market cap is less than US$10m (zł7.35m market cap, or US$1.84m). Minor Risks Latest financial reports are more than 6 months old (reported March 2023 fiscal period end). Share price has been volatile over the past 3 months (9.7% average weekly change). Shareholders have been diluted in the past year (9.8% increase in shares outstanding). New Risk • Nov 02
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 9.8% 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: Major Risks Share price has been highly volatile over the past 3 months (13% average weekly change). Revenue is less than US$1m (zł870k revenue, or US$206k). Market cap is less than US$10m (zł7.67m market cap, or US$1.81m). Minor Risk Shareholders have been diluted in the past year (9.8% increase in shares outstanding). New Risk • Aug 13
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Polish stocks, typically moving 12% 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 (12% average weekly change). Revenue is less than US$1m (zł870k revenue, or US$215k). Market cap is less than US$10m (zł11.3m market cap, or US$2.80m). 공시 • Jun 04
Jujubee S.A., Annual General Meeting, Jun 29, 2023 Jujubee S.A., Annual General Meeting, Jun 29, 2023, at 12:00 Central European Standard Time. Reported Earnings • Mar 24
Full year 2022 earnings released Full year 2022 results: Revenue: zł811.9k (down 14% from FY 2021). Net loss: zł530.0k (loss narrowed 35% from FY 2021). Reported Earnings • Aug 19
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: zł160.2k (flat on 2Q 2021). Net loss: zł337.2k (loss widened zł289.1k from 2Q 2021). Reported Earnings • May 20
First quarter 2022 earnings released First quarter 2022 results: Revenue: zł276.2k (up 35% from 1Q 2021). Net loss: zł208.8k (loss widened 78% from 1Q 2021). Is New 90 Day High Low • Dec 23
New 90-day low: zł4.41 The company is down 23% from its price of zł5.76 on 24 September 2020. The Polish market is up 12% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Entertainment industry, which is down 25% over the same period. Is New 90 Day High Low • Dec 04
New 90-day low: zł5.50 The company is down 5.0% from its price of zł5.80 on 04 September 2020. The Polish 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 down 1.0% over the same period. Reported Earnings • Nov 22
Third quarter 2019 earnings released: zł0.03 loss per share The company reported a poor third quarter result with increased losses and weaker revenues and control over expenses. Third quarter 2019 results: Revenue: zł184.6k (down 47% from 3Q 2018). Net loss: zł108.1k (loss widened 340% from 3Q 2018). Is New 90 Day High Low • Oct 16
New 90-day low: zł5.52 The company is down 20% from its price of zł6.94 on 17 July 2020. The Polish market is down 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Entertainment industry, which is up 1.0% over the same period.