New Risk • May 17
New major risk - Revenue and earnings growth Earnings have declined by 12% 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 Share price has been highly volatile over the past 3 months (12% average weekly change). Negative equity (-€56m). Earnings have declined by 12% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Revenue is less than US$5m (€2.8m revenue, or US$3.3m). Market cap is less than US$100m (€15.5m market cap, or US$18.1m). New Risk • Apr 20
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 Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Negative equity (-€56m). Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Currently unprofitable and not forecast to become profitable over next 2 years (€9.8m net loss in 2 years). Revenue is less than US$5m (€2.8m revenue, or US$3.3m). Market cap is less than US$100m (€13.1m market cap, or US$15.4m). New Risk • Dec 26
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 French 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: Major Risks Less than 1 year of cash runway based on free cash flow trend (-€13m free cash flow). Negative equity (-€56m). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (€9.8m net loss in 2 years). Share price has been volatile over the past 3 months (6.6% average weekly change). Revenue is less than US$5m (€2.8m revenue, or US$3.3m). Market cap is less than US$100m (€14.7m market cap, or US$17.3m). Major Estimate Revision • Oct 16
Consensus revenue estimates fall by 45% The consensus outlook for revenues in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from €5.50m to €3.00m. Forecast losses increased from -€0.14 to -€0.26 per share. Commercial Services industry in France expected to see average net income growth of 3.7% next year. Consensus price target down from €0.35 to €0.30. Share price was steady at €0.28 over the past week. New Risk • Oct 03
New major risk - Revenue and earnings growth Earnings have declined by 10% 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 Negative equity (-€50m). Earnings have declined by 10% per year over the past 5 years. Minor Risks Currently unprofitable and not forecast to become profitable next year (€6.9m net loss next year). Revenue is less than US$5m (€3.0m revenue, or US$3.6m). Market cap is less than US$100m (€14.7m market cap, or US$17.3m). Aankondiging • May 22
Orege Société Anonyme, Annual General Meeting, Jun 26, 2025 Orege Société Anonyme, Annual General Meeting, Jun 26, 2025. Location: 57 avenue d iena, paris France New Risk • May 04
New major risk - Revenue and earnings growth Earnings have declined by 3.5% 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 Negative equity (-€45m). Earnings have declined by 3.5% per year over the past 5 years. Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (€6.5m net loss in 2 years). Share price has been volatile over the past 3 months (8.3% average weekly change). Revenue is less than US$5m (€1.4m revenue, or US$1.6m). Market cap is less than US$100m (€15.6m market cap, or US$17.6m). 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 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 Risk Negative equity (-€45m). Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Currently unprofitable and not forecast to become profitable over next 2 years (€5.9m net loss in 2 years). Share price has been volatile over the past 3 months (8.0% average weekly change). Revenue is less than US$5m (€1.4m revenue, or US$1.6m). Market cap is less than US$100m (€16.3m market cap, or US$18.6m). Reported Earnings • Oct 06
First half 2024 earnings released First half 2024 results: Revenue: €1.04m (up 14% from 1H 2023). Net loss: €4.36m (loss narrowed 4.7% from 1H 2023). Revenue is forecast to grow 65% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Commercial Services industry in France. Aankondiging • May 20
Orege Société Anonyme, Annual General Meeting, Jun 25, 2024 Orege Société Anonyme, Annual General Meeting, Jun 25, 2024. Location: es locaux du cabinet de pardieu brocas maffei, 57 avenue d iena, paris France Reported Earnings • May 03
Full year 2023 earnings released Full year 2023 results: Revenue: €1.26m (down 64% from FY 2022). Net loss: €10.2m (loss widened 64% from FY 2022). Revenue is forecast to grow 69% p.a. on average during the next 2 years, compared to a 5.2% growth forecast for the Commercial Services industry in France. New Risk • Apr 26
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 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 Risk Negative equity (-€35m). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Currently unprofitable and not forecast to become profitable over next 2 years (€4.4m net loss in 2 years). Share price has been volatile over the past 3 months (8.9% average weekly change). Revenue is less than US$5m (€3.3m revenue, or US$3.5m). Market cap is less than US$100m (€15.3m market cap, or US$16.5m). New Risk • Mar 29
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 French 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 Less than 1 year of cash runway based on free cash flow trend (-€6.6m free cash flow). Share price has been highly volatile over the past 3 months (9.5% average weekly change). Negative equity (-€35m). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (€4.4m net loss in 2 years). Revenue is less than US$5m (€3.3m revenue, or US$3.6m). Market cap is less than US$100m (€17.7m market cap, or US$19.1m). Reported Earnings • Oct 13
First half 2023 earnings released: €0.091 loss per share (vs €0.058 loss in 1H 2022) First half 2023 results: €0.091 loss per share (further deteriorated from €0.058 loss in 1H 2022). Revenue: €917.0k (down 15% from 1H 2022). Net loss: €4.57m (loss widened 57% from 1H 2022). Revenue is forecast to grow 57% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Commercial Services industry in France. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. Major Estimate Revision • Oct 08
Consensus revenue estimates fall by 67% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from €6.00m to €2.00m. Forecast losses increased from -€0.10 to -€0.17 per share. Commercial Services industry in France expected to see average net income growth of 4.7% next year. Consensus price target of €0.80 unchanged from last update. Share price rose 5.7% to €0.48 over the past week. Reported Earnings • May 21
Full year 2022 earnings released Full year 2022 results: Revenue: €3.47m (up 53% from FY 2021). Net loss: €6.21m (loss widened 35% from FY 2021). Revenue is forecast to grow 40% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Commercial Services industry in France. Major Estimate Revision • May 19
Consensus revenue estimates fall by 25% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from €8.00m to €6.00m. Forecast losses increased from -€0.06 to -€0.10 per share. Commercial Services industry in France expected to see average net income growth of 19% next year. Consensus price target of €1.00 unchanged from last update. Share price fell 5.9% to €0.26 over the past week. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. 1 independent director (6 non-independent directors). Independent Director Corinne Dromer was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Major Estimate Revision • Oct 29
Consensus revenue estimates fall by 37% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from €6.30m to €4.00m. Forecast losses increased from -€0.07 to -€0.09 per share. Commercial Services industry in France expected to see average net income growth of 2.5% next year. Consensus price target down from €1.70 to €1.00. Share price fell 20% to €0.46 over the past week. Price Target Changed • Oct 24
Price target decreased to €1.00 Down from €1.60, the current price target is provided by 1 analyst. New target price is 85% above last closing price of €0.54. Stock is down 60% over the past year. The company is forecast to post a net loss per share of €0.07 next year compared to a net loss per share of €0.091 last year. Reported Earnings • Oct 22
First half 2022 earnings released First half 2022 results: Revenue: €1.08m (up 37% from 1H 2021). Net loss: €2.92m (loss widened 5.4% from 1H 2021). Revenue is forecast to grow 43% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Commercial Services industry in France. Breakeven Date Change • Jun 01
Forecast to breakeven in 2024 The 2 analysts covering Orege Société Anonyme expect the company to break even for the first time. New consensus forecast suggests losses will reduce by 51% per year to 2023. The company is expected to make a profit of €1.80m in 2024. Average annual earnings growth of 79% is required to achieve expected profit on schedule. Reported Earnings • May 01
Full year 2021 earnings: Revenues miss analyst expectations Full year 2021 results: Revenue: €2.26m (up 13% from FY 2020). Net loss: €4.60m (loss narrowed 38% from FY 2020). Revenue missed analyst estimates by 2.3%. Over the next year, revenue is forecast to grow 175%, compared to a 14% growth forecast for the industry in France. Price Target Changed • Apr 27
Price target decreased to €1.60 Down from €1.80, the current price target is provided by 1 analyst. New target price is 113% above last closing price of €0.75. Stock is down 55% over the past year. The company is forecast to post a net loss per share of €0.097 next year compared to a net loss per share of €0.15 last year. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. 1 independent director (6 non-independent directors). Independent Director Corinne Dromer was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Breakeven Date Change • Nov 24
No longer forecast to breakeven The analyst covering Orege Société Anonyme no longer expects the company to break even during the foreseeable future. The company was expected to make a profit of €636.1k in 2023. New forecast suggests the company will make a loss of €1.87m in 2023. Reported Earnings • Oct 12
First half 2021 earnings released The company reported a solid first half result with reduced losses, improved revenues and improved control over expenses. First half 2021 results: Revenue: €790.0k (up 61% from 1H 2020). Net loss: €2.77m (loss narrowed 32% from 1H 2020). Major Estimate Revision • Jun 12
Consensus revenue estimates fall to €5.15m The consensus outlook for revenues in 2021 has deteriorated. 2021 revenue forecast decreased from €6.50m to €5.15m. Forecast losses increased from -€0.058 to -€0.063 per share. Commercial Services industry in France expected to see average net income growth of 86% next year. Consensus price target down from €2.00 to €1.80. Share price was steady at €1.31 over the past week. Reported Earnings • Apr 25
Full year 2020 earnings released The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2020 results: Revenue: €2.01m (up 115% from FY 2019). Net loss: €7.42m (loss narrowed 27% from FY 2019). Is New 90 Day High Low • Jan 08
New 90-day high: €1.44 The company is up 70% from its price of €0.85 on 09 October 2020. The French market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Commercial Services industry, which is up 19% over the same period. Is New 90 Day High Low • Dec 23
New 90-day high: €1.28 The company is up 34% from its price of €0.95 on 23 September 2020. The French market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Commercial Services industry, which is up 19% over the same period. Major Estimate Revision • Dec 12
Analysts lower revenue estimates to €2.00m The 2020 consensus revenue estimate decreased from €2.50m. Earnings per share (EPS) also decreased, with analysts lowering their estimates from -€0.14 to -€0.16 for the same period. The Commercial Services industry in France is expected to see an average net income growth of 72% next year. The consensus price target increased from €1.10 to €1.40. Share price is up 3.9% to €1.19 over the past week. Price Target Changed • Dec 11
Price target raised to €1.40 Up from €1.15, the current price target is provided by 1 analyst. The new target price is 12% above the current share price of €1.25. As of last close, the stock is up 14% over the past year. Is New 90 Day High Low • Dec 04
New 90-day high: €1.14 The company is up 11% from its price of €1.03 on 04 September 2020. The French market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Commercial Services industry, which is up 16% over the same period. Is New 90 Day High Low • Oct 15
New 90-day low: €0.83 The company is down 13% from its price of €0.96 on 17 July 2020. The French market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Commercial Services industry, which is up 2.0% over the same period. Major Estimate Revision • Oct 07
Analysts lower revenue estimates to €2.50m The 2020 consensus revenue estimate decreased from €3.00m. Earnings per share (EPS) also decreased, with analysts lowering their estimates from -€0.13 to -€0.14 for the same period. The Commercial Services industry in France is expected to see an average net income growth of 56% next year. The consensus price target of €1.10 was unchanged from the last update. Share price is down by 6.5% to €0.89 over the past week. Reported Earnings • Oct 01
First half earnings released Over the last 12 months the company has reported total losses of €7.73m, with losses narrowing by 35% from the prior year. Total revenue was €1.32m over the last 12 months, down 7.0% from the prior year. Is New 90 Day High Low • Sep 26
New 90-day low: €0.89 The company is down 13% from its price of €1.03 on 26 June 2020. The French market is down 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Commercial Services industry, which is down 1.0% over the same period. 
