New Risk • Feb 06New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 31% 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 Shares are highly illiquid. High level of non-cash earnings (31% accrual ratio). Revenue is less than US$1m (лв70k revenue, or US$42k). Minor Risk Market cap is less than US$100m (€10.3m market cap, or US$12.1m).
Reported Earnings • Nov 03Third quarter 2025 earnings released: EPS: лв0.004 (vs лв0.004 in 3Q 2024)Third quarter 2025 results: EPS: лв0.004 (in line with 3Q 2024). Revenue: лв17.0k (down 11% from 3Q 2024). Net income: лв18.0k (up 64% from 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 81 percentage points per year, which is a significant difference in performance.
Declared Dividend • Jul 07Dividend of лв0.012 announcedDividend of лв0.012 is the same as last year. Ex-date: 11th July 2025 Payment date: 1st January 1970 Dividend yield will be 0.2%, which is lower than the industry average of 3.3%.