New Risk • May 27
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 30% 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 Less than 1 year of cash runway based on free cash flow trend (-€5.6m free cash flow). Share price has been highly volatile over the past 3 months (14% average weekly change). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (€2.4m net loss in 2 years). Shareholders have been diluted in the past year (30% increase in shares outstanding). Market cap is less than US$100m (€35.6m market cap, or US$41.4m). Major Estimate Revision • May 02
Consensus revenue estimates decrease by 18%, EPS upgraded The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast fell from €25.3m to €20.8m. EPS estimate increased from -€0.297 to -€0.199 per share. Machinery industry in France expected to see average net income growth of 41% next year. Consensus price target down from €2.25 to €2.08. Share price fell 23% to €1.47 over the past week. New Risk • Apr 12
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 French stocks, typically moving 10% 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 Risk Share price has been highly volatile over the past 3 months (10% average weekly change). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (€1.5m net loss in 3 years). Market cap is less than US$100m (€24.6m market cap, or US$28.9m). New Risk • Mar 10
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 French stocks, typically moving 11% 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 Risk Share price has been highly volatile over the past 3 months (11% average weekly change). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (€1.3m net loss in 3 years). Market cap is less than US$100m (€23.1m market cap, or US$26.9m). Major Estimate Revision • Feb 01
Consensus EPS estimates fall by 14% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from €27.5m to €25.8m. Losses expected to increase from €0.28 per share to €0.32. Machinery industry in France expected to see average net income growth of 34% next year. Consensus price target down from €2.83 to €2.53. Share price fell 5.3% to €1.57 over the past week. 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 French stocks, typically moving 6.8% 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 3 years (€227k net loss in 3 years). Share price has been volatile over the past 3 months (6.8% average weekly change). Market cap is less than US$100m (€24.3m market cap, or US$28.4m). Major Estimate Revision • Dec 16
Consensus EPS estimates upgraded to €0.32 loss, revenue downgraded The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast fell from €27.7m to €27.3m. 2026 losses expected to reduce from -€0.423 to -€0.322 per share. Machinery industry in France expected to see average net income growth of 19% next year. Consensus price target down from €3.75 to €3.25. Share price fell 14% to €1.72 over the past week. Announcement • Nov 22
Hydrogen-Refueling-Solutions SA has filed a Follow-on Equity Offering in the amount of €9.04438 million. Hydrogen-Refueling-Solutions SA has filed a Follow-on Equity Offering in the amount of €9.04438 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 4,760,200
Price\Range: €1.9
Transaction Features: Rights Offering Announcement • Oct 22
Hydrogen-Refueling-Solutions SA, Annual General Meeting, Nov 27, 2025 Hydrogen-Refueling-Solutions SA, Annual General Meeting, Nov 27, 2025. Location: 283 route des lavieres, champagnier France Major Estimate Revision • Oct 18
Consensus revenue estimates decrease by 14%, EPS upgraded The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast fell from €32.2m to €27.7m. EPS estimate increased from -€0.397 to -€0.328 per share. Machinery industry in France expected to see average net income growth of 24% next year. Consensus price target down from €4.45 to €3.75. Share price was steady at €3.03 over the past week. Reported Earnings • Oct 17
Full year 2025 earnings released Full year 2025 results: Revenue: €11.3m (down 55% from FY 2024). Net loss: €11.7m (loss widened 12% from FY 2024). Revenue is forecast to grow 44% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Machinery industry in France. Major Estimate Revision • Sep 08
Consensus revenue estimates increase by 96% The consensus outlook for revenues in fiscal year 2025 has improved. 2025 revenue forecast increased from €11.3m to €22.1m. Forecast losses expected to reduce from -€1.02 to -€0.839 per share. Machinery industry in France expected to see average net income growth of 28% next year. Consensus price target of €4.45 unchanged from last update. Share price fell 2.6% to €2.95 over the past week. Price Target Changed • Aug 03
Price target decreased by 20% to €4.45 Down from €5.58, the current price target is an average from 4 analysts. New target price is 42% above last closing price of €3.14. Stock is down 45% over the past year. The company is forecast to post a net loss per share of €0.81 next year compared to a net loss per share of €0.68 last year. Announcement • Aug 01
Hydrogen-Refueling-Solutions SA to Report Fiscal Year 2025 Results on Oct 16, 2025 Hydrogen-Refueling-Solutions SA announced that they will report fiscal year 2025 results at 9:00 AM, Central European Standard Time on Oct 16, 2025 New Risk • Jul 01
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: -€7.2m 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 Risk Less than 1 year of cash runway based on free cash flow trend (-€7.2m free cash flow). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (€5.3m net loss in 2 years). Market cap is less than US$100m (€54.9m market cap, or US$64.9m). Major Estimate Revision • Jan 31
Consensus revenue estimates fall by 17% The consensus outlook for revenues in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from €31.5m to €26.1m. Forecast losses increased from -€0.504 to -€0.565 per share. Machinery industry in France expected to see average net income decline 0.7% next year. Consensus price target of €5.83 unchanged from last update. Share price rose 25% to €4.23 over the past week. New Risk • Jan 06
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 6.8% 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 Less than 1 year of cash runway based on free cash flow trend (-€26m free cash flow). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (€3.9m net loss in 3 years). Share price has been volatile over the past 3 months (6.8% average weekly change). Market cap is less than US$100m (€53.2m market cap, or US$55.3m). Announcement • Oct 18
Hydrogen-Refueling-Solutions SA, Annual General Meeting, Nov 21, 2024 Hydrogen-Refueling-Solutions SA, Annual General Meeting, Nov 21, 2024. Location: 283 route des lavieres, champagnier France New Risk • Aug 01
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €88.3m (US$95.2m) This is considered a minor risk. Companies with a small market capitalization 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 (12% average weekly change). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (€6.7m net loss in 2 years). Market cap is less than US$100m (€88.3m market cap, or US$95.2m). Major Estimate Revision • Jul 29
Consensus revenue estimates decrease by 11% The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from €30.3m to €27.0m. EPS estimate unchanged from -€0.53 per share at last update. Machinery industry in France expected to see average net income growth of 60% next year. Consensus price target down from €10.73 to €6.93. Share price fell 5.5% to €6.21 over the past week. Price Target Changed • Jul 27
Price target decreased by 14% to €9.73 Down from €11.30, the current price target is an average from 4 analysts. New target price is 57% above last closing price of €6.21. Stock is down 70% over the past year. The company is forecast to post a net loss per share of €0.44 next year compared to a net loss per share of €0.32 last year. New Risk • Jul 26
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 12% 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 Risks Share price has been highly volatile over the past 3 months (13% average weekly change). Earnings are forecast to decline by an average of 12% per year for the foreseeable future. Minor Risk Currently unprofitable and not forecast to become profitable next year (€7.7m net loss next year). Announcement • Jul 26
Hydrogen-Refueling-Solutions SA to Report Fiscal Year 2024 Results on Oct 09, 2024 Hydrogen-Refueling-Solutions SA announced that they will report fiscal year 2024 results at 5:40 PM, Central European Standard Time on Oct 09, 2024 New Risk • Jul 17
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 2 years. Trailing 12-month net loss: €7.1m Forecast net loss in 2 years: €251k 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: Major Risk Share price has been highly volatile over the past 3 months (13% average weekly change). Minor Risk Currently unprofitable and not forecast to become profitable over next 2 years (€251k net loss in 2 years). Major Estimate Revision • Jun 23
Consensus EPS estimates fall by 16% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from €34.4m to €33.0m. Losses expected to increase from €0.34 per share to €0.39. Machinery industry in France expected to see average net income growth of 66% next year. Consensus price target down from €12.48 to €11.30. Share price rose 13% to €6.86 over the past week. Major Estimate Revision • May 02
Consensus EPS estimates fall by 40% The consensus outlook for fiscal year 2024 has been updated. 2024 expected loss increased from -€0.24 to -€0.335 per share. Revenue forecast unchanged at €34.4m. Machinery industry in France expected to see average net income growth of 78% next year. Consensus price target down from €17.03 to €12.48. Share price rose 3.9% to €5.08 over the past week. New Risk • Apr 13
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €91.1m (US$96.9m) This is considered a minor risk. Companies with a small market capitalization 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: Minor Risks Share price has been volatile over the past 3 months (8.7% average weekly change). Market cap is less than US$100m (€91.1m market cap, or US$96.9m). Announcement • Apr 10
Hydrogen-Refueling-Solutions SA announced that it has received €3.1 million in funding from Somudimec S.A., BNP Paribas SA, Crédit Coopératif S.A., Société Générale Société anonyme Hydrogen-Refueling-Solutions SA announced a private placement for the gross proceeds of €3,100,000 on April 8, 2024. The transaction included participation from new investors Somudimec S.A., BNP Paribas SA, Crédit Coopératif S.A., Société Générale Société anonyme, LCL and Bpl. New Risk • Mar 29
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. This is currently the only risk that has been identified for the company. Announcement • Jan 26
Hydrogen-Refueling-Solutions SA to Report First Half, 2024 Results on Apr 29, 2024 Hydrogen-Refueling-Solutions SA announced that they will report first half, 2024 results on Apr 29, 2024 Price Target Changed • Jan 25
Price target decreased by 18% to €20.88 Down from €25.45, the current price target is an average from 4 analysts. New target price is 33% above last closing price of €15.66. Stock is down 41% over the past year. The company is forecast to post a net loss per share of €0.19 next year compared to a net loss per share of €0.32 last year. Major Estimate Revision • Jan 24
Consensus EPS estimates fall by 100% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from €50.7m to €48.8m. Losses expected to increase from €0.017 per share to €0.035. Machinery industry in France expected to see average net income growth of 26% next year. Consensus price target down from €25.45 to €23.95. Share price fell 13% to €15.16 over the past week. Price Target Changed • Jan 23
Price target decreased by 11% to €23.95 Down from €26.93, the current price target is an average from 4 analysts. New target price is 53% above last closing price of €15.66. Stock is down 42% over the past year. The company is forecast to post a net loss per share of €0.035 next year compared to a net loss per share of €0.32 last year. Board Change • Jan 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. 4 experienced directors. No highly experienced directors. Independent Director Fabio Ferrari was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Major Estimate Revision • Nov 26
Consensus EPS estimates fall from profit to €0.018 loss The consensus outlook for fiscal year 2024 has been updated. Forecast loss of -€0.0175 per share in 2024, versus previous forecasts of €0.0025 per share. Revenue forecast unchanged from €50.7m at last update. Machinery industry in France expected to see average net income growth of 26% next year. Consensus price target of €25.45 unchanged from last update. Share price was steady at €15.98 over the past week. New Risk • Nov 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 6.7% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Oct 06
Full year 2023 earnings released Full year 2023 results: Revenue: €30.1m (up 77% from FY 2022). Net loss: €4.87m (loss widened €4.64m from FY 2022). Revenue is forecast to grow 50% p.a. on average during the next 2 years, compared to a 7.1% growth forecast for the Machinery industry in France. Buying Opportunity • Aug 25
Now 20% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be €25.54, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Buying Opportunity • Aug 09
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 4.3%. The fair value is estimated to be €25.28, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Price Target Changed • May 12
Price target decreased by 7.8% to €27.60 Down from €29.95, the current price target is an average from 4 analysts. New target price is 29% above last closing price of €21.45. Stock is up 8.4% over the past year. The company is forecast to post a net loss per share of €0.023 next year compared to a net loss per share of €0.015 last year. Reported Earnings • Apr 30
First half 2023 earnings released First half 2023 results: Revenue: €10.9m (up 137% from 1H 2022). Net loss: €2.68m (loss widened 238% from 1H 2022). Revenue is forecast to grow 39% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Machinery industry in France. Major Estimate Revision • Nov 26
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 expected loss increased from -€0.01 to -€0.02 per share. Revenue forecast of €26.0m unchanged since last update. Machinery industry in France expected to see average net income growth of 50% next year. Consensus price target of €30.10 unchanged from last update. Share price rose 3.0% to €23.94 over the past week. Board Change • Nov 16
Less than half of directors are independent There are 4 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. 2 independent directors (3 non-independent directors). Founder, Chairman of the Board of Directors & CEO Hassen Rachedi is the most experienced director on the board, commencing their role in 2020. Independent Director Fabio Ferrari was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Reported Earnings • Oct 07
Full year 2022 earnings released Full year 2022 results: Revenue: €17.0m (up 62% from FY 2021). Net loss: €234.0k (loss widened 40% from FY 2021). Revenue is forecast to grow 40% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Machinery industry in France. Price Target Changed • Sep 26
Price target decreased to €30.10 Down from €33.47, the current price target is an average from 3 analysts. New target price is 48% above last closing price of €20.30. Stock is down 36% over the past year. The company is forecast to post a net loss per share of €0.012 next year compared to a net loss per share of €0.012 last year. Price Target Changed • Sep 01
Price target decreased to €31.80 Down from €34.67, the current price target is an average from 3 analysts. New target price is 35% above last closing price of €23.60. Stock is down 28% over the past year. The company is forecast to post earnings per share of €0.002 next year compared to a net loss per share of €0.012 last year. Price Target Changed • Jun 07
Price target decreased to €34.67 Down from €37.47, the current price target is an average from 3 analysts. New target price is 68% above last closing price of €20.68. Stock is down 27% over the past year. The company is forecast to post earnings per share of €0.002 next year compared to a net loss per share of €0.012 last year. Reported Earnings • May 01
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (down €45.0k from profit in 1H 2021). Profit margin: (down from 1.6% in 1H 2021). The decrease in margin was driven by lower expenses. Over the next year, revenue is forecast to grow 102%, compared to a 26% growth forecast for the industry in France. Board Change • Apr 27
Less than half of directors are independent There are 4 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. 2 independent directors (3 non-independent directors). Founder, Chairman of the Board of Directors & CEO Hassen Rachedi is the most experienced director on the board, commencing their role in 2020. Independent Director Fabio Ferrari was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Reported Earnings • Oct 09
Full year 2021 earnings released The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2021 results: Revenue: €10.5m (up 309% from FY 2020). Net loss: €167.0k (loss narrowed 83% from FY 2020).