New Risk • Apr 09
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: -zł390k 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 (-zł390k free cash flow). Earnings have declined by 6.4% per year over the past 5 years. Revenue is less than US$1m (zł842k revenue, or US$231k). Market cap is less than US$10m (€1.11m market cap, or US$1.30m). Minor Risk Share price has been volatile over the past 3 months (8.8% average weekly change). Reported Earnings • Nov 20
Third quarter 2025 earnings released Third quarter 2025 results: Revenue: zł226.2k (down 32% from 3Q 2024). Net loss: zł13.9k (loss narrowed 96% from 3Q 2024). Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 34% per year, which means it is significantly lagging earnings. Announcement • Nov 12
ECC Games S.A. to Report Q3, 2025 Results on Nov 14, 2025 ECC Games S.A. announced that they will report Q3, 2025 results on Nov 14, 2025 Buy Or Sell Opportunity • Oct 27
Now 20% overvalued Over the last 90 days, the stock has fallen 46% to €0.036. The fair value is estimated to be €0.03, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 14%. Announcement • May 13
ECC Games S.A., Annual General Meeting, Jun 09, 2025 ECC Games S.A., Annual General Meeting, Jun 09, 2025. Reported Earnings • Mar 23
Full year 2024 earnings released Full year 2024 results: Revenue: zł1.98m (down 55% from FY 2023). Net loss: zł467.0k (loss narrowed 54% from FY 2023). Over the last 3 years on average, earnings per share has fallen by 33% per year whereas the company’s share price has fallen by 34% per year. New Risk • Sep 30
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 German stocks, typically moving 12% 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 (-zł215k free cash flow). Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings have declined by 64% per year over the past 5 years. Revenue is less than US$1m (zł2.6m revenue, or US$680k). Market cap is less than US$10m (€2.89m market cap, or US$3.22m). Reported Earnings • Aug 19
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: zł251.1k (down 90% from 2Q 2023). Net loss: zł97.0k (loss narrowed 56% from 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 41% per year whereas the company’s share price has fallen by 37% per year. Announcement • Jun 05
ECC Games S.A., Annual General Meeting, Jun 26, 2024 ECC Games S.A., Annual General Meeting, Jun 26, 2024. New Risk • May 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: -zł94k 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 (-zł94k free cash flow). Earnings have declined by 66% per year over the past 5 years. Market cap is less than US$10m (€2.28m market cap, or US$2.48m). Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Revenue is less than US$5m (zł4.9m revenue, or US$1.2m). Reported Earnings • May 20
First quarter 2024 earnings released First quarter 2024 results: Revenue: zł682.6k (up 238% from 1Q 2023). Net loss: zł375.2k (loss widened 163% from 1Q 2023). Reported Earnings • Mar 26
Full year 2023 earnings released Full year 2023 results: Revenue: zł4.41m (up 435% from FY 2022). Net loss: zł1.02m (loss widened 33% from FY 2022). Reported Earnings • Nov 19
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: zł854.5k (up 146% from 3Q 2022). Net loss: zł303.5k (loss widened 219% from 3Q 2022). Reported Earnings • Aug 18
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: zł2.53m (up zł2.39m from 2Q 2022). Net loss: zł221.6k (loss widened 17% from 2Q 2022). New Risk • Aug 03
New major risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 9.4% 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 Earnings have declined by 64% per year over the past 5 years. Revenue is less than US$1m (zł882k revenue, or US$217k). Market cap is less than US$10m (€4.25m market cap, or US$4.65m). Minor Risk Share price has been volatile over the past 3 months (9.4% average weekly change). Announcement • May 31
ECC Games S.A., Annual General Meeting, Jun 22, 2023 ECC Games S.A., Annual General Meeting, Jun 22, 2023, at 10:00 NZST - New Zealand Standard. Reported Earnings • May 21
First quarter 2023 earnings released First quarter 2023 results: Net loss: zł142.7k (loss widened 5.4% from 1Q 2022). Reported Earnings • Mar 24
Full year 2022 earnings released Full year 2022 results: Net loss: zł768.6k (loss widened 65% from FY 2021). Announcement • Jun 07
ECC Games S.A., Annual General Meeting, Jun 28, 2022 ECC Games S.A., Annual General Meeting, Jun 28, 2022, at 10:00 Central European Standard Time. Reported Earnings • May 19
First quarter 2022 earnings released First quarter 2022 results: Revenue: zł144.8k (down 36% from 1Q 2021). Net loss: zł135.5k (loss widened 141% from 1Q 2021). Reported Earnings • Nov 20
Third quarter 2021 earnings released The company reported a solid third quarter result with improved revenues and control over costs, although losses increased. Third quarter 2021 results: Revenue: zł169.3k (up 59% from 3Q 2020). Net loss: zł121.1k (loss widened 2.8% from 3Q 2020). Reported Earnings • Mar 28
Full year 2020 earnings released The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: zł991.6k (down 70% from FY 2019). Net loss: zł73.8k (down 105% from profit in FY 2019). Is New 90 Day High Low • Feb 25
New 90-day low: €0.39 The company is down 3.0% from its price of €0.40 on 26 November 2020. The German market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Entertainment industry, which is up 15% over the same period. Is New 90 Day High Low • Nov 28
New 90-day high: €0.46 The company is up 1.0% from its price of €0.46 on 28 August 2020. The German market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Entertainment industry, which is up 17% over the same period. Is New 90 Day High Low • Oct 29
New 90-day low: €0.35 The company is down 20% from its price of €0.44 on 30 July 2020. The German 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 up 7.0% over the same period. Is New 90 Day High Low • Oct 08
New 90-day low: €0.36 The company is down 35% from its price of €0.56 on 09 July 2020. The German market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Entertainment industry, which is up 9.0% over the same period. Announcement • Sep 06
ECC Games S.A. announced that it expects to receive PLN 0.2 million in funding ECC Games S.A. (WSE:ECC) announced private placement of 2,000,000 series J shares at a price of PLN 0.10 per share for gross proceeds of PLN 200,000 on September 4, 2020. The transaction is subject to approval of shareholders of the company in its extra-ordinary general meeting. 
