New Risk • Dec 15
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 8.5% 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 Earnings have declined by 33% per year over the past 5 years. Market cap is less than US$10m (zł9.22m market cap, or US$2.57m). Minor Risk Share price has been volatile over the past 3 months (8.5% average weekly change). Reported Earnings • Nov 19
Third quarter 2025 earnings released Third quarter 2025 results: Revenue: zł6.60m (down 3.0% from 3Q 2024). Net loss: zł370.6k (loss widened 14% from 3Q 2024). 공시 • Nov 12
QubicGames S.A. to Report Q3, 2025 Results on Nov 14, 2025 QubicGames S.A. announced that they will report Q3, 2025 results on Nov 14, 2025 Reported Earnings • Aug 19
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: zł6.60m (down 18% from 2Q 2024). Net loss: zł23.6k (loss narrowed 97% from 2Q 2024). Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. New Risk • Jul 24
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 7.0% 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 Earnings have declined by 45% per year over the past 5 years. Market cap is less than US$10m (zł9.43m market cap, or US$2.60m). Minor Risk Share price has been volatile over the past 3 months (7.0% average weekly change). Reported Earnings • May 19
First quarter 2025 earnings released First quarter 2025 results: Revenue: zł8.47m (down 4.6% from 1Q 2024). Net income: zł174.3k (up 62% from 1Q 2024). Profit margin: 2.1% (up from 1.2% in 1Q 2024). Reported Earnings • Mar 25
Full year 2024 earnings released Full year 2024 results: Revenue: zł32.4m (up 5.1% from FY 2023). Net loss: zł1.71m (down 348% from profit in FY 2023). Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 18
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: zł8.06m (up 15% from 2Q 2023). Net loss: zł801.6k (down 225% from profit in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. 공시 • Jun 05
QubicGames S.A., Annual General Meeting, Jun 26, 2024 QubicGames S.A., Annual General Meeting, Jun 26, 2024. Reported Earnings • May 20
First quarter 2024 earnings released First quarter 2024 results: Revenue: zł8.88m (up 74% from 1Q 2023). Net income: zł107.7k (up zł405.8k from 1Q 2023). Profit margin: 1.2% (up from net loss in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 24
Full year 2023 earnings released Full year 2023 results: Revenue: zł30.8m (up 63% from FY 2022). Net income: zł689.7k (up zł4.18m from FY 2022). Profit margin: 2.2% (up from net loss in FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 50 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • Feb 16
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to zł2.20, the stock trades at a trailing P/E ratio of 65.3x. Average trailing P/E is 20x in the Entertainment industry in Poland. Total loss to shareholders of 55% over the past three years. New Risk • Jan 25
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 9.5% 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 (9.5% average weekly change). Earnings have declined by 51% per year over the past 5 years. Market cap is less than US$10m (zł18.7m market cap, or US$4.64m). Minor Risk Large one-off items impacting financial results. New Risk • Aug 23
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 11% 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 (11% average weekly change). Earnings have declined by 49% per year over the past 5 years. Market cap is less than US$10m (zł27.1m market cap, or US$6.60m). Reported Earnings • Aug 17
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: zł7.03m (up 41% from 2Q 2022). Net income: zł641.9k (up zł1.96m from 2Q 2022). Profit margin: 9.1% (up from net loss in 2Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 84 percentage points per year, which is a significant difference in performance. 공시 • Jun 02
QubicGames S.A., Annual General Meeting, Jun 27, 2023 QubicGames S.A., Annual General Meeting, Jun 27, 2023, at 11:00 Central European Standard Time. Reported Earnings • May 21
First quarter 2023 earnings released First quarter 2023 results: Revenue: zł5.12m (up 31% from 1Q 2022). Net loss: zł298.1k (loss narrowed 68% from 1Q 2022). 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. Reported Earnings • Mar 24
Full year 2022 earnings released Full year 2022 results: Revenue: zł18.9m (up 54% from FY 2021). Net loss: zł3.49m (down 390% from profit in FY 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 69 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • Aug 19
Investor sentiment improved over the past week After last week's 17% share price gain to zł2.20, the stock trades at a trailing P/E ratio of 26.2x. Average trailing P/E is 15x in the Entertainment industry in Poland. Total loss to shareholders of 21% over the past three years. Valuation Update With 7 Day Price Move • Jul 27
Investor sentiment improved over the past week After last week's 17% share price gain to zł1.50, the stock trades at a trailing P/E ratio of 17.8x. Average trailing P/E is 14x in the Entertainment industry in Poland. Total loss to shareholders of 54% over the past three years. Reported Earnings • May 21
First quarter 2022 earnings released First quarter 2022 results: Revenue: zł3.92m (up 5.6% from 1Q 2021). Net loss: zł932.0k (loss widened 69% from 1Q 2021). Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment deteriorated over the past week After last week's 17% share price decline to zł1.50, the stock trades at a trailing P/E ratio of 18.3x. Average trailing P/E is 16x in the Entertainment industry in Poland. Total loss to shareholders of 13% over the past three years. Reported Earnings • Nov 21
Third quarter 2021 earnings released: EPS zł0.24 (vs zł0.014 loss in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: zł2.40m (down 9.8% from 3Q 2020). Net income: zł2.36m (up zł2.50m from 3Q 2020). Profit margin: 98% (up from net loss in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings. Reported Earnings • Aug 19
Second quarter 2021 earnings released The company reported a poor second quarter result with weaker earnings, revenues and control over costs. Second quarter 2021 results: Revenue: zł2.50m (down 1.8% from 2Q 2020). Net loss: zł24.2k (down 101% from profit in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 15% per year and the company’s share price has also increased by 15% per year. Reported Earnings • May 22
First quarter 2021 earnings released The company reported a soft first quarter result with weaker earnings and weaker control over costs, although revenues improved. First quarter 2021 results: Revenue: zł3.71m (up 13% from 1Q 2020). Net loss: zł551.9k (down 181% from profit in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 11
Investor sentiment deteriorated over the past week After last week's 18% share price decline to zł3.02, the stock trades at a trailing P/E ratio of 11.7x. Average trailing P/E is 31x in the Entertainment industry in Poland. Total returns to shareholders of 53% over the past three years. Valuation Update With 7 Day Price Move • Mar 25
Investor sentiment deteriorated over the past week After last week's 16% share price decline to zł3.94, the stock trades at a trailing P/E ratio of 11.8x. Average trailing P/E is 37x in the Entertainment industry in Poland. Total returns to shareholders of 283% over the past three years. Is New 90 Day High Low • Dec 21
New 90-day low: zł5.16 The company is down 19% from its price of zł6.38 on 22 September 2020. The Polish market is up 13% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Entertainment industry, which is down 21% over the same period. Valuation Update With 7 Day Price Move • Nov 19
Market pulls back on stock over the past week After last week's 17% share price decline to zł5.96, the stock is trading at a trailing P/E ratio of 16.5x, down from the previous P/E ratio of 19.9x. This compares to an average P/E of 31x in the Entertainment industry in Poland. Total returns to shareholders over the past three years are 335%. Valuation Update With 7 Day Price Move • Nov 05
Market bids up stock over the past week After last week's 20% share price gain to zł6.40, the stock is trading at a trailing P/E ratio of 17.7x, up from the previous P/E ratio of 14.8x. This compares to an average P/E of 32x in the Entertainment industry in Poland. Total returns to shareholders over the past three years are 310%. Valuation Update With 7 Day Price Move • Oct 29
Market pulls back on stock over the past week After last week's 17% share price decline to zł5.34, the stock is trading at a trailing P/E ratio of 14.8x, down from the previous P/E ratio of 17.7x. This compares to an average P/E of 32x in the Entertainment industry in Poland. Total returns to shareholders over the past three years are 228%. Is New 90 Day High Low • Oct 29
New 90-day low: zł5.34 The company is down 13% from its price of zł6.16 on 30 July 2020. The Polish market is also down 13% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it underperformed the Entertainment industry, which is down 12% over the same period. Valuation Update With 7 Day Price Move • Oct 15
Market pulls back on stock over the past week After last week's 16% share price decline to zł5.68, the stock is trading at a trailing P/E ratio of 15.7x, down from the previous P/E ratio of 18.8x. This compares to an average P/E of 34x in the Entertainment industry in Poland. Total returns to shareholders over the past three years are 244%.