Aankondiging • May 15
Fermentalg SA has completed a Follow-on Equity Offering in the amount of €10.913953 million. Fermentalg SA has completed a Follow-on Equity Offering in the amount of €10.913953 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 23,725,985
Price\Range: €0.46
Transaction Features: Regulation S; Rule 144A; Subsequent Direct Listing Aankondiging • May 14
Fermentalg SA has filed a Follow-on Equity Offering in the amount of €16.1 million. Fermentalg SA has filed a Follow-on Equity Offering in the amount of €16.1 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 35,000,000
Price\Range: €0.46
Transaction Features: Regulation S; Rule 144A; Subsequent Direct Listing Aankondiging • May 07
Fermentalg SA, Annual General Meeting, Jun 11, 2026 Fermentalg SA, Annual General Meeting, Jun 11, 2026. Location: 4 rue riviere, libourne France Breakeven Date Change • Apr 07
Forecast to breakeven in 2028 The 2 analysts covering Fermentalg expect the company to break even for the first time. New consensus forecast suggests losses will reduce by 37% per year to 2027. The company is expected to make a profit of €1.30m in 2028. Average annual earnings growth of 63% is required to achieve expected profit on schedule. Reported Earnings • Apr 05
Full year 2025 earnings released: €0.09 loss per share (vs €0.17 loss in FY 2024) Full year 2025 results: €0.09 loss per share (improved from €0.17 loss in FY 2024). Revenue: €14.9m (up 30% from FY 2024). Net loss: €9.44m (loss narrowed 27% from FY 2024). Revenue is forecast to grow 41% p.a. on average during the next 2 years, compared to a 4.6% growth forecast for the Chemicals industry in France. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. New Risk • Apr 04
New major risk - Revenue and earnings growth Earnings have declined by 17% 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 Risk Earnings have declined by 17% per year over the past 5 years. Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (€2.6m net loss in 2 years). Share price has been volatile over the past 3 months (8.3% average weekly change). Market cap is less than US$100m (€46.4m market cap, or US$53.4m). New Risk • Mar 16
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 7.4% 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 Currently unprofitable and not forecast to become profitable over next 2 years (€4.5m net loss in 2 years). Share price has been volatile over the past 3 months (7.4% average weekly change). Market cap is less than US$100m (€43.2m market cap, or US$49.8m). Breakeven Date Change • Oct 13
Forecast to breakeven in 2027 The 2 analysts covering Fermentalg expect the company to break even for the first time. New consensus forecast suggests losses will reduce by 36% per year to 2026. The company is expected to make a profit of €1.20m in 2027. Average annual earnings growth of 71% is required to achieve expected profit on schedule. Major Estimate Revision • Sep 18
Consensus revenue estimates fall by 23% The consensus outlook for revenues in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from €16.8m to €12.9m. Forecast losses increased from -€0.08 to -€0.097 per share. Chemicals industry in France expected to see average net income growth of 17% next year. Consensus price target down from €0.76 to €0.71. Share price fell 11% to €0.51 over the past week. Reported Earnings • Sep 14
First half 2025 earnings released: €0.04 loss per share (vs €0.095 loss in 1H 2024) First half 2025 results: €0.04 loss per share (improved from €0.095 loss in 1H 2024). Revenue: €7.61m (up 20% from 1H 2024). Net loss: €4.33m (loss narrowed 24% from 1H 2024). Revenue is forecast to grow 50% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Chemicals industry in France. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 40% per year, which means it is significantly lagging earnings. New Risk • Sep 12
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 3 years. Trailing 12-month net loss: €13m Forecast net loss in 3 years: €850k This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (€850k net loss in 3 years). Market cap is less than US$100m (€51.1m market cap, or US$60.0m). Breakeven Date Change • Sep 12
No longer forecast to breakeven The 2 analysts covering Fermentalg no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of €1.30m in 2027. New consensus forecast suggests the company will make a loss of €1.80m in 2027. Price Target Changed • May 14
Price target increased by 8.6% to €0.76 Up from €0.70, the current price target is an average from 2 analysts. New target price is 28% above last closing price of €0.59. Stock is down 6.5% over the past year. The company is forecast to post a net loss per share of €0.085 next year compared to a net loss per share of €0.17 last year. Breakeven Date Change • May 13
Forecast to breakeven in 2027 The 2 analysts covering Fermentalg expect the company to break even for the first time. New consensus forecast suggests losses will reduce by 35% per year to 2026. The company is expected to make a profit of €1.30m in 2027. Average annual earnings growth of 68% is required to achieve expected profit on schedule. Aankondiging • May 08
Fermentalg SA, Annual General Meeting, Jun 12, 2025 Fermentalg SA, Annual General Meeting, Jun 12, 2025. Location: 4 rue riviere, libourne France New Risk • Apr 03
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 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 Shareholders have been substantially diluted in the past year (109% increase in shares outstanding). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (€5.2m net loss in 2 years). Share price has been volatile over the past 3 months (7.1% average weekly change). Market cap is less than US$100m (€29.5m market cap, or US$32.5m). Reported Earnings • Mar 25
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: €0.17 loss per share (improved from €0.32 loss in FY 2023). Revenue: €13.1m (up 223% from FY 2023). Net loss: €12.9m (loss narrowed 9.0% from FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 32%. Revenue is forecast to grow 30% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Chemicals industry in France. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has fallen by 47% per year, which means it is performing significantly worse than earnings. Aankondiging • Jan 15
Fermentalg SA to Report Fiscal Year 2024 Results on Mar 20, 2025 Fermentalg SA announced that they will report fiscal year 2024 results After-Market on Mar 20, 2025 New Risk • Nov 22
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 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 Risk Shareholders have been substantially diluted in the past year (109% increase in shares outstanding). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (€3.4m net loss in 3 years). Share price has been volatile over the past 3 months (7.0% average weekly change). Market cap is less than US$100m (€28.8m market cap, or US$29.9m). Reported Earnings • Oct 11
First half 2024 earnings released: €0.095 loss per share (vs €0.13 loss in 1H 2023) First half 2024 results: €0.095 loss per share (improved from €0.13 loss in 1H 2023). Revenue: €6.32m (up 170% from 1H 2023). Net loss: €5.66m (flat on 1H 2023). Revenue is forecast to grow 46% p.a. on average during the next 2 years, compared to a 5.0% growth forecast for the Chemicals industry in France. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has fallen by 48% per year, which means it is performing significantly worse than earnings. New Risk • Jun 21
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 105% 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 Share price has been highly volatile over the past 3 months (11% average weekly change). Shareholders have been substantially diluted in the past year (105% increase in shares outstanding). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (€8.3m net loss in 2 years). Revenue is less than US$5m (€4.1m revenue, or US$4.3m). Market cap is less than US$100m (€36.2m market cap, or US$38.8m). Major Estimate Revision • Jun 19
Consensus revenue estimates increase by 13% The consensus outlook for revenues in fiscal year 2024 has improved. 2024 revenue forecast increased from €9.80m to €11.1m. Forecast losses expected to reduce from -€0.22 to -€0.12 per share. Chemicals industry in France expected to see average net income growth of 20% next year. Consensus price target of €1.00 unchanged from last update. Share price fell 22% to €0.41 over the past week. Major Estimate Revision • May 16
Consensus EPS estimates fall by 18% The consensus outlook for fiscal year 2024 has been updated. 2024 expected loss increased from -€0.22 to -€0.26 per share. Revenue forecast of €9.80m unchanged since last update. Chemicals industry in France expected to see average net income growth of 17% next year. Consensus price target of €1.00 unchanged from last update. Share price rose 25% to €0.64 over the past week. Aankondiging • May 09
Fermentalg SA, Annual General Meeting, Jun 11, 2024 Fermentalg SA, Annual General Meeting, Jun 11, 2024. Location: 4 rue riviere, libourne France New Risk • Apr 09
New minor risk - Revenue size The company makes less than US$5m in revenue. Total revenue: €4.1m (US$4.4m) This is considered a minor risk. Companies with a small amount of revenue 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 Risk Share price has been highly volatile over the past 3 months (21% average weekly change). Minor Risks Currently unprofitable and not forecast to become profitable next year (€11m net loss next year). Shareholders have been diluted in the past year (3.1% increase in shares outstanding). Revenue is less than US$5m (€4.1m revenue, or US$4.4m). Market cap is less than US$100m (€25.5m market cap, or US$27.7m). Reported Earnings • Apr 04
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: €0.32 loss per share (further deteriorated from €0.24 loss in FY 2022). Revenue: €5.12m (down 33% from FY 2022). Net loss: €14.1m (loss widened 43% from FY 2022). Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) missed analyst estimates by 39%. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 41% per year, which means it is significantly lagging earnings. Major Estimate Revision • Dec 21
Consensus revenue estimates fall by 35% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from €6.20m to €4.00m. Forecast losses increased from -€0.22 to -€0.23 per share. Chemicals industry in France expected to see average net income growth of 14% next year. Consensus price target down from €2.10 to €0.50. Share price fell 3.8% to €0.25 over the past week. New Risk • Sep 06
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 3.0% 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 Risk Earnings are forecast to decline by an average of 3.0% per year for the foreseeable future. Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (€11m net loss in 2 years). Shareholders have been diluted in the past year (3.2% increase in shares outstanding). Market cap is less than US$100m (€25.4m market cap, or US$27.3m). New Risk • Jul 26
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.2% 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: Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (€7.8m net loss in 2 years). Share price has been volatile over the past 3 months (7.7% average weekly change). Shareholders have been diluted in the past year (3.2% increase in shares outstanding). Market cap is less than US$100m (€26.7m market cap, or US$29.6m). Board Change • Jul 19
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Helene Moncorger-Pilicer was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Major Estimate Revision • May 11
Consensus EPS estimates upgraded to €0.24 loss The consensus outlook for fiscal year 2023 has been updated. 2023 losses forecast to reduce from -€0.271 to -€0.237 per share. Revenue forecast unchanged from €8.14m at last update. Chemicals industry in France expected to see average net income growth of 16% next year. Consensus price target of €2.80 unchanged from last update. Share price rose 7.8% to €0.88 over the past week. Reported Earnings • Apr 21
Full year 2022 earnings: EPS exceeds analyst expectations Full year 2022 results: €0.24 loss per share (further deteriorated from €0.19 loss in FY 2021). Revenue: €9.04m (up 60% from FY 2021). Net loss: €9.87m (loss widened 44% from FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 9.3%. Revenue is forecast to grow 63% p.a. on average during the next 2 years, compared to a 4.2% growth forecast for the Chemicals industry in France. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Price Target Changed • Apr 04
Price target decreased by 18% to €2.80 Down from €3.40, the current price target is an average from 2 analysts. New target price is 159% above last closing price of €1.08. Stock is down 62% over the past year. The company is forecast to post a net loss per share of €0.39 next year compared to a net loss per share of €0.19 last year. Board Change • Nov 16
Insufficient new directors 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. 1 highly experienced director. Independent Director Helene Moncorger-Pilicer was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Oct 03
First half 2022 earnings released: €0.13 loss per share (vs €0.17 loss in 1H 2021) First half 2022 results: €0.13 loss per share. Revenue: €5.68m (up 77% from 1H 2021). Net loss: €5.44m (loss widened 14% from 1H 2021). Revenue is forecast to grow 53% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Chemicals industry in France. Price Target Changed • Sep 28
Price target decreased to €3.40 Down from €4.05, the current price target is an average from 2 analysts. New target price is 101% above last closing price of €1.69. Stock is down 42% over the past year. The company is forecast to post a net loss per share of €0.38 next year compared to a net loss per share of €0.19 last year. Major Estimate Revision • Sep 24
Consensus revenue estimates fall by 15% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from €10.9m to €9.25m. Forecast losses increased from -€0.21 to -€0.38 per share. Chemicals industry in France expected to see average net income growth of 5.1% next year. Consensus price target down from €4.05 to €3.85. Share price fell 20% to €1.94 over the past week. Major Estimate Revision • Jun 29
Consensus revenue estimates increase by 11% The consensus outlook for revenues in 2022 has improved. 2022 revenue forecast increased from €9.82m to €10.9m. Forecast losses expected to reduce from -€0.24 to -€0.20 per share. Chemicals industry in France expected to see average net income decline 12% next year. Consensus price target of €4.05 unchanged from last update. Share price fell 5.5% to €2.24 over the past week. Board Change • Apr 27
Insufficient new directors 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. 1 highly experienced director. Independent Director Helene Moncorger-Pilicer was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Apr 23
Full year 2021 earnings: EPS and revenues exceed analyst expectations Full year 2021 results: €0.19 loss per share (up from €0.32 loss in FY 2020). Revenue: €6.80m (up 86% from FY 2020). Net loss: €6.85m (flat on FY 2020). Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) also surpassed analyst estimates by 37%. Over the next year, revenue is forecast to grow 45%, compared to a 22% growth forecast for the industry in France. 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 2% per year, which means it is significantly lagging earnings growth. Board Change • Apr 01
Insufficient new directors 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. 1 highly experienced director. Independent Director Helene Moncorger-Pilicer was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Board Change • Mar 02
Insufficient new directors 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. 1 highly experienced director. Independent Director Helene Moncorger-Pilicer was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Sep 23
First half 2021 earnings released: €0.17 loss per share (vs €0.23 loss in 1H 2020) The company reported a solid first half result with improved revenues and control over costs, although losses increased. First half 2021 results: Revenue: €3.21m (up 67% from 1H 2020). Net loss: €4.76m (loss widened 7.1% from 1H 2020). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Major Estimate Revision • May 12
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 losses forecast to reduce from -€0.33 to -€0.29 per share. Revenue forecast unchanged from €5.00m at last update. Chemicals industry in France expected to see average net income growth of 15% next year. Consensus price target of €3.95 unchanged from last update. Share price was steady at €3.13 over the past week. Reported Earnings • Apr 17
Full year 2020 earnings released: €0.32 loss per share (vs €0.97 loss in FY 2019) Full year 2020 results: Net loss: €6.88m (loss narrowed 60% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Apr 17
Consensus EPS estimates increase to -€0.35 The consensus outlook for earnings per share (EPS) in 2020 has improved. 2020 revenue forecast increased from €2.09m to €2.20m. EPS estimate increased from -€0.44 to -€0.35. Chemicals industry in France expected to see average net income growth of 39% next year. Consensus price target of €3.45 unchanged from last update. Share price was steady at €3.04 over the past week. Price Target Changed • Jan 05
Price target raised to €3.20 Up from €2.95, the current price target is an average from 2 analysts. The new target price is 29% above the current share price of €2.48. As of last close, the stock is up 46% over the past year. Is New 90 Day High Low • Jan 05
New 90-day high: €2.48 The company is up 79% from its price of €1.38 on 07 October 2020. The French market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Major Estimate Revision • Nov 05
Analysts lower revenue estimates to €1.94m The 2020 consensus revenue estimate decreased from €2.64m. Earnings per share (EPS) also decreased, with analysts lowering their estimates from -€0.41 to -€0.44 for the same period. The Chemicals industry in France is expected to see an average net income growth of 3.8% next year. The consensus price target of €2.85 was unchanged from the last update. Share price is up 10% to €1.16 over the past week. Is New 90 Day High Low • Oct 12
New 90-day low: €1.30 The company is down 1.0% from its price of €1.32 on 14 July 2020. The French market is also down 1.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Chemicals industry, which is down 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Major Estimate Revision • Sep 23
Analysts lower revenue estimates to €2.61m The 2020 consensus revenue estimate decreased from €3.44m. Earnings per share (EPS) also decreased, with analysts lowering their estimates from -€0.37 to -€0.41 for the same period. The Chemicals industry in France is expected to see an average net income growth of 3.7% next year. The consensus price target of €2.85 was unchanged from the last update. Share price is down by 6.1% to €1.53 over the past week. Reported Earnings • Sep 18
First half earnings released Over the last 12 months the company has reported total losses of €16.4m, with losses widening by 62% from the prior year.