Reported Earnings • Aug 17
Second quarter 2026 earnings released Second quarter 2026 results: Revenue: zł90.6k (down 58% from 2Q 2025). Net loss: zł113.8k (loss narrowed 3.6% from 2Q 2025). New Risk • Aug 17
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -zł29k This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. 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 (-zł29k free cash flow). Revenue is less than US$1m (zł1.0m revenue, or US$275k). Market cap is less than US$10m (zł3.00m market cap, or US$806.6k). Minor Risk Share price has been volatile over the past 3 months (8.1% average weekly change). Aankondiging • Jun 05
Art Games Studio S.A., Annual General Meeting, Jun 29, 2026 Art Games Studio S.A., Annual General Meeting, Jun 29, 2026. New Risk • Feb 17
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 26% 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 (26% average weekly change). Revenue is less than US$1m (zł1.2m revenue, or US$347k). Market cap is less than US$10m (zł5.21m market cap, or US$1.46m). Reported Earnings • Nov 19
Third quarter 2025 earnings released Third quarter 2025 results: Revenue: zł395.4k (up 15% from 3Q 2024). Net income: zł59.4k (up zł122.5k from 3Q 2024). Profit margin: 15% (up from net loss in 3Q 2024). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has fallen by 37% per year, which means it is significantly lagging earnings. Aankondiging • Nov 11
Art Games Studio S.A. to Report Q3, 2025 Results on Nov 13, 2025 Art Games Studio S.A. announced that they will report Q3, 2025 results on Nov 13, 2025 New Risk • Aug 28
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 6.4% 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: Major Risks Less than 1 year of cash runway based on free cash flow trend (-zł78k free cash flow). Revenue is less than US$1m (zł1.2m revenue, or US$321k). Market cap is less than US$10m (zł2.53m market cap, or US$692.4k). Minor Risk Share price has been volatile over the past 3 months (6.4% average weekly change). New Risk • Aug 22
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -zł78k This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. 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 (-zł78k free cash flow). Revenue is less than US$1m (zł1.2m revenue, or US$319k). Market cap is less than US$10m (zł2.59m market cap, or US$703.4k). Reported Earnings • May 17
First quarter 2025 earnings released First quarter 2025 results: Revenue: zł266.5k (up 17% from 1Q 2024). Net income: zł14.3k (down 75% from 1Q 2024). Profit margin: 5.4% (down from 25% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has fallen by 33% per year, which means it is significantly lagging earnings. Aankondiging • May 15
Art Games Studio S.A., Annual General Meeting, Jun 10, 2025 Art Games Studio S.A., Annual General Meeting, Jun 10, 2025. New Risk • Feb 25
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 Risks Less than 1 year of cash runway based on free cash flow trend (-zł140k free cash flow). Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 24% per year over the past 5 years. Revenue is less than US$1m (zł888k revenue, or US$225k). Market cap is less than US$10m (zł2.97m market cap, or US$753.0k). Minor Risk Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). New Risk • Jan 22
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 14% 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 (-zł140k free cash flow). Share price has been highly volatile over the past 3 months (14% average weekly change). Earnings have declined by 24% per year over the past 5 years. Revenue is less than US$1m (zł888k revenue, or US$219k). Market cap is less than US$10m (zł1.94m market cap, or US$478.1k). New Risk • Dec 19
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 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 (-zł140k free cash flow). Earnings have declined by 24% per year over the past 5 years. Revenue is less than US$1m (zł888k revenue, or US$216k). Market cap is less than US$10m (zł1.60m market cap, or US$389.7k). Minor Risk Share price has been volatile over the past 3 months (6.6% average weekly change). Aankondiging • Jun 05
Art Games Studio S.A., Annual General Meeting, Jun 27, 2024 Art Games Studio S.A., Annual General Meeting, Jun 27, 2024. Reported Earnings • May 09
First quarter 2024 earnings released First quarter 2024 results: Revenue: zł226.9k (down 18% from 1Q 2023). Net income: zł57.1k (up 174% from 1Q 2023). Profit margin: 25% (up from 7.6% in 1Q 2023). New Risk • Mar 20
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -zł172k This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. 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 (-zł172k free cash flow). Earnings have declined by 43% per year over the past 5 years. Revenue is less than US$1m (zł950k revenue, or US$238k). Market cap is less than US$10m (zł4.03m market cap, or US$1.01m). Minor Risk Shareholders have been diluted in the past year (4.0% increase in shares outstanding). Reported Earnings • Mar 20
Full year 2023 earnings released Full year 2023 results: Revenue: zł950.2k (down 22% from FY 2022). Net loss: zł228.8k (loss narrowed 40% from FY 2022). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 31% per year, which means it is significantly lagging earnings. New Risk • Oct 20
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 4.0% 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 Earnings have declined by 56% per year over the past 5 years. Revenue is less than US$1m (zł1.3m revenue, or US$299k). Market cap is less than US$10m (zł6.41m market cap, or US$1.52m). Minor Risk Shareholders have been diluted in the past year (4.0% increase in shares outstanding). Reported Earnings • Aug 13
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: zł260.7k (down 2.3% from 2Q 2022). Net income: zł86.3k (flat on 2Q 2022). Profit margin: 33% (in line with 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 29% per year, which means it has not declined as severely as earnings. Aankondiging • Jun 13
Art Games Studio S.A., Annual General Meeting, Jun 29, 2023 Art Games Studio S.A., Annual General Meeting, Jun 29, 2023, at 12:30 Central European Standard Time. Reported Earnings • Mar 17
Full year 2022 earnings released Full year 2022 results: Revenue: zł1.21m (up 18% from FY 2021). Net loss: zł382.1k (loss narrowed 66% from FY 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 77 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 19
Full year 2021 earnings: Revenues in line with analyst expectations Full year 2021 results: Revenue: zł1.03m (up 129% from FY 2020). Net loss: zł1.13m (loss widened 201% from FY 2020). Revenue was in line with analyst estimates. Is New 90 Day High Low • Feb 15
New 90-day high: zł2.49 The company is up 24% from its price of zł2.01 on 17 November 2020. The Polish market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Entertainment industry, which is down 18% over the same period. Is New 90 Day High Low • Dec 16
New 90-day low: zł1.96 The company is down 34% from its price of zł2.95 on 17 September 2020. The Polish market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Entertainment industry, which is down 20% over the same period. Is New 90 Day High Low • Nov 16
New 90-day low: zł2.01 The company is down 42% from its price of zł3.48 on 18 August 2020. The Polish market is down 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Entertainment industry, which is down 9.0% over the same period. Is New 90 Day High Low • Oct 29
New 90-day low: zł2.23 The company is down 42% from its price of zł3.85 on 30 July 2020. The Polish market is down 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Entertainment industry, which is down 6.0% over the same period.