New Risk • Mar 29
New major risk - Revenue size The company makes less than US$1m in revenue. Total revenue: €328k (US$378k) This is considered a major 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. This is currently the only risk that has been identified for the company. Announcement • Mar 27
Heliad AG, Annual General Meeting, May 06, 2026 Heliad AG, Annual General Meeting, May 06, 2026, at 11:00 W. Europe Standard Time. Reported Earnings • Mar 26
Full year 2025 earnings: Revenues miss analyst expectations Full year 2025 results: Net loss: €4.75m (down 273% from profit in FY 2024). Revenue missed analyst estimates by 51%. Revenue is expected to decline by 68% p.a. on average during the next 3 years, while revenues in the Capital Markets industry in Germany are expected to grow by 1.9%. Announcement • Dec 17
Heliad AG has completed a Follow-on Equity Offering in the amount of €7.99999 million. Heliad AG has completed a Follow-on Equity Offering in the amount of €7.99999 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 601,503
Price\Range: €13.3
Transaction Features: Subsequent Direct Listing Announcement • Aug 07
Deutsche WertpapierService Bank AG acquired lemon.markets GmbH. Deutsche WertpapierService Bank AG acquired lemon.markets GmbH on August 6, 2025. Under the terms of the deal, lemon.markets GmbH will operate as a separate entity within the dwpbank group, maintaining its brand identity while collaborating closely with dwpbank to develop their respective platforms.
Frank Henkel, Claudia Posluschny, Frank Herring, Ingemar Kartheuser, Markus Müller, Michael Born and Oliver Polster of Norton Rose Fulbright LLP acted as legal advisor for Deutsche WertpapierService Bank AG.
Deutsche WertpapierService Bank AG completed the acquisition of lemon.markets GmbH on August 6, 2025. Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €11.20, the stock trades at a forward P/E ratio of 56x. Average forward P/E is 11x in the Capital Markets industry in Germany. Total loss to shareholders of 38% over the past three years. Announcement • Mar 26
Heliad AG, Annual General Meeting, May 05, 2025 Heliad AG, Annual General Meeting, May 05, 2025, at 11:00 W. Europe Standard Time. Reported Earnings • Mar 23
Full year 2024 earnings released Full year 2024 results: Revenue: €6.58m (up 55% from FY 2023). Net income: €2.75m (up €18.4m from FY 2023). Profit margin: 42% (up from net loss in FY 2023). The move to profitability was primarily driven by lower expenses. Reported Earnings • Oct 06
First half 2024 earnings released: €0.11 loss per share (vs €1.34 loss in 1H 2023) First half 2024 results: €0.11 loss per share (improved from €1.34 loss in 1H 2023). Net loss: €910.2k (loss narrowed 88% from 1H 2023). Revenue is expected to decline by 171% p.a. on average during the next 2 years, while revenues in the Capital Markets industry in Germany are expected to grow by 1.2%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 75 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 30
Full year 2023 earnings released Full year 2023 results: Net loss: €15.6m (down €17.7m from profit in FY 2022). New Risk • Feb 12
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 54% 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 Earnings have declined by 51% per year over the past 5 years. Shareholders have been substantially diluted in the past year (54% increase in shares outstanding). Minor Risks Revenue is less than US$5m (€2.0m revenue, or US$2.2m). Market cap is less than US$100m (€76.5m market cap, or US$82.5m). New Risk • Nov 03
New major risk - Revenue and earnings growth Earnings have declined by 51% 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 51% per year over the past 5 years. Minor Risks Revenue is less than US$5m (€2.0m revenue, or US$2.2m). Market cap is less than US$100m (€57.2m market cap, or US$61.5m). Reported Earnings • Oct 01
First half 2023 earnings released: €1.34 loss per share (vs €0.43 profit in 1H 2022) First half 2023 results: €1.34 loss per share (down from €0.43 profit in 1H 2022). Net loss: €7.30m (down 408% from profit in 1H 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 123 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • Jun 26
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to €9.65, the stock trades at a trailing P/E ratio of 25.8x. Average trailing P/E is 18x in the Capital Markets industry in Germany. Total loss to shareholders of 49% over the past three years. Valuation Update With 7 Day Price Move • Jun 01
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to €12.90, the stock trades at a trailing P/E ratio of 34.5x. Average trailing P/E is 15x in the Capital Markets industry in Germany. Total loss to shareholders of 32% over the past three years. Reported Earnings • May 03
Full year 2022 earnings released Full year 2022 results: Revenue: €3.11m (down 56% from FY 2021). Net income: €2.04m (up €2.39m from FY 2021). Profit margin: 66% (up from net loss in FY 2021). The move to profitability was driven by lower expenses. Reported Earnings • Oct 02
First half 2022 earnings released: EPS: €0 (vs €0.44 in 1H 2021) First half 2022 results: EPS: €0 (down from €0.44 in 1H 2021). Net income: €2.37m (down 1.6% from 1H 2021). Announcement • Jun 24
FinLab AG, Annual General Meeting, Jun 22, 2022 FinLab AG, Annual General Meeting, Jun 22, 2022, at 10:00 Central European Standard Time. Reported Earnings • Oct 04
First half 2021 earnings released: EPS €0.44 (vs €0.08 in 1H 2020) First half 2021 results: Net income: €2.41m (up 465% from 1H 2020). Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Announcement • Jun 26
Raisin GmbH acquired Deposit Solutions GmbH from a group of sellers in a merger of equals transaction. Raisin GmbH acquired Deposit Solutions GmbH from a group of sellers in a merger of equals transaction on June 24, 2021. The new merge company will change its name to Raisin DS GmbH. FinLab AG will hold low single percentage stake in the merged company in future. Both companies’ current management will take over leadership roles at Raisin DS. Thus, both Chief Executive Officers, Tamaz Georgadze and Tim Sievers will initially lead the new company as co-Chief Executive Officers. Tim Sievers will then move to the company’s Advisory Board at the end of the year.
Raisin GmbH completed the acquisition of Deposit Solutions GmbH from a group of sellers in a merger of equals transaction on June 24, 2021. Executive Departure • May 06
CFO & Member of Management Board has left the company On the 30th of April, Juan Rodriguez's tenure as CFO & Member of Management Board ended after 8.0 years in the role. We don't have any record of a personal shareholding under Juan's name. A total of 2 executives have left over the last 12 months. Executive Departure • May 06
CEO, Head of Investments & Member of Management Board Stefan Schutze has left the company On the 30th of April, Stefan Schutze's tenure as CEO, Head of Investments & Member of Management Board of the company ended. We don't have any record of a personal shareholding under Stefan's name. A total of 2 executives have left over the last 12 months. Major Estimate Revision • Apr 07
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 EPS estimate fell from €4.70 to €2.13. Revenue forecast unchanged from €4.20m at last update. Net income forecast to grow 85% next year vs 145% growth forecast for Capital Markets industry in Germany. Consensus price target broadly unchanged at €29.70. Share price was steady at €24.00 over the past week. Reported Earnings • Mar 25
Full year 2020 earnings released: EPS €1.15 (vs €7.54 in FY 2019) Full year 2020 results: Net income: €6.10m (down 85% from FY 2019). Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 04
Investor sentiment improved over the past week After last week's 16% share price gain to €26.70, the stock is trading at a trailing P/E ratio of 3.8x, up from the previous P/E ratio of 3.2x. This compares to an average P/E of 19x in the Capital Markets industry in Germany. Total returns to shareholders over the past three years are 22%. Is New 90 Day High Low • Feb 04
New 90-day high: €26.70 The company is up 46% from its price of €18.35 on 05 November 2020. The German market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is up 14% over the same period. Valuation Update With 7 Day Price Move • Jan 09
Investor sentiment improved over the past week After last week's 24% share price gain to €26.30, the stock is trading at a trailing P/E ratio of 3.7x, up from the previous P/E ratio of 3x. This compares to an average P/E of 17x in the Capital Markets industry in Germany. Total returns to shareholders over the past three years are 2.7%. Is New 90 Day High Low • Jan 04
New 90-day high: €22.80 The company is up 15% from its price of €19.75 on 06 October 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is up 8.0% over the same period. Is New 90 Day High Low • Dec 18
New 90-day high: €20.60 The company is up 5.0% from its price of €19.60 on 18 September 2020. The German market is also up 5.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it underperformed the Capital Markets industry, which is up 7.0% over the same period. Is New 90 Day High Low • Oct 26
New 90-day low: €17.55 The company is down 6.0% from its price of €18.70 on 28 July 2020. The German market is down 1.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Capital Markets industry, which is down 9.0% over the same period. Price Target Changed • Oct 01
Price target raised to €27.87 Up from €25.28, the current price target is provided by 1 analyst. The new target price is 39% above the current share price of €20.00. As of last close, the stock is up 19% over the past year. Announcement • Sep 30
FinLab AG to Report Fiscal Year 2020 Results on Apr 30, 2021 FinLab AG announced that they will report fiscal year 2020 results on Apr 30, 2021 Reported Earnings • Sep 26
First half earnings released Over the last 12 months the company has reported total profits of €37.5m, up 88% from the prior year.