New Risk • May 07
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 29% 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 Risk Earnings are forecast to decline by an average of 29% per year for the foreseeable future. Minor Risks Share price has been volatile over the past 3 months (9.6% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (€37.9m market cap, or US$44.5m). Announcement • Apr 28
HiPay Group SA, Annual General Meeting, Jun 10, 2026 HiPay Group SA, Annual General Meeting, Jun 10, 2026. Location: 94 rue de villiers, levallois perret France New Risk • Apr 19
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. 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 Risk Share price has been highly volatile over the past 3 months (11% average weekly change). Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.5% net profit margin). Market cap is less than US$100m (€40.7m market cap, or US$47.8m). New Risk • Apr 16
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 Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.5% net profit margin). Market cap is less than US$100m (€41.7m market cap, or US$49.1m). Valuation Update With 7 Day Price Move • Apr 15
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €5.98, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 12x in the Diversified Financial industry in France. Total returns to shareholders of 12% over the past three years. Announcement • Feb 26
HiPay Group SA to Report Fiscal Year 2025 Results on Apr 15, 2026 HiPay Group SA announced that they will report fiscal year 2025 results at 9:00 AM, Central European Standard Time on Apr 15, 2026 Valuation Update With 7 Day Price Move • Feb 03
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to €5.66, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 10x in the Diversified Financial industry in France. Total returns to shareholders of 27% over the past three years. Valuation Update With 7 Day Price Move • Jan 20
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to €6.52, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 11x in the Diversified Financial industry in France. Total returns to shareholders of 68% over the past three years. New Risk • Jan 02
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 6.5% 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 Share price has been volatile over the past 3 months (6.5% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.5% net profit margin). Shareholders have been diluted in the past year (27% increase in shares outstanding). Market cap is less than US$100m (€49.0m market cap, or US$57.4m). Major Estimate Revision • Nov 06
Consensus EPS estimates fall by 12% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from €79.5m to €76.6m. EPS estimate also fell from €0.67 per share to €0.59 per share. Net income forecast to grow 226% next year vs 53% growth forecast for Diversified Financial industry in France. Consensus price target down from €17.00 to €14.00. Share price fell 8.3% to €8.62 over the past week. Major Estimate Revision • Sep 23
Consensus EPS estimates fall by 30% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from €0.96 to €0.67. Revenue forecast unchanged from €79.5m at last update. Net income forecast to grow 282% next year vs 55% growth forecast for Diversified Financial industry in France. Consensus price target of €17.00 unchanged from last update. Share price rose 3.7% to €9.62 over the past week. Reported Earnings • Sep 21
First half 2025 earnings released First half 2025 results: Revenue: €37.4m (up 3.7% from 1H 2024). Net income: €351.0k (down 93% from 1H 2024). Profit margin: 0.9% (down from 14% in 1H 2024). Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 27% growth forecast for the Diversified Financial industry in France. New Risk • Jun 25
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 7.4% 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: Minor Risks High level of debt (55% net debt to equity). Share price has been volatile over the past 3 months (7.4% average weekly change). Large one-off items impacting financial results. Shareholders have been diluted in the past year (27% increase in shares outstanding). Market cap is less than US$100m (€65.3m market cap, or US$75.9m). Valuation Update With 7 Day Price Move • Jun 24
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to €10.35, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 12x in the Diversified Financial industry in France. Total loss to shareholders of 3.5% over the past three years. Announcement • May 02
HiPay Group SA, Annual General Meeting, Jun 04, 2025 HiPay Group SA, Annual General Meeting, Jun 04, 2025. Location: 94 rue de villiers, levallois perret France Valuation Update With 7 Day Price Move • Apr 30
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to €9.58, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 12x in the Diversified Financial industry in France. Total loss to shareholders of 27% over the past three years. Price Target Changed • Apr 23
Price target increased by 48% to €17.00 Up from €11.50, the current price target is provided by 1 analyst. New target price is 110% above last closing price of €8.09. Stock is up 1.1% over the past year. Reported Earnings • Apr 14
Full year 2024 earnings released Full year 2024 results: Revenue: €74.3m (up 14% from FY 2023). Net income: €5.84m (up 169% from FY 2023). Profit margin: 7.9% (up from 3.3% in FY 2023). Revenue is forecast to grow 5.3% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Diversified Financial industry in France. Announcement • Apr 12
HiPay Group SA to Report Fiscal Year 2024 Results on Apr 30, 2025 HiPay Group SA announced that they will report fiscal year 2024 results at 9:00 AM, Central European Standard Time on Apr 30, 2025 New Risk • Apr 04
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 Risk Earnings are forecast to decline by an average of 15% per year for the foreseeable future. Minor Risks High level of debt (78% net debt to equity). Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Share price has been volatile over the past 3 months (7.4% average weekly change). Large one-off items impacting financial results. Shareholders have been diluted in the past year (27% increase in shares outstanding). Market cap is less than US$100m (€50.5m market cap, or US$55.7m). New Risk • Mar 09
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 27% 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 Risk Earnings are forecast to decline by an average of 15% per year for the foreseeable future. Minor Risks High level of debt (78% net debt to equity). Share price has been volatile over the past 3 months (7.7% average weekly change). Large one-off items impacting financial results. Shareholders have been diluted in the past year (27% increase in shares outstanding). Market cap is less than US$100m (€50.5m market cap, or US$54.8m). Valuation Update With 7 Day Price Move • Feb 19
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €7.44, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 9x in the Diversified Financial industry in France. Total loss to shareholders of 51% over the past three years. Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to €6.16, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 9x in the Diversified Financial industry in France. Total loss to shareholders of 65% over the past three years. Announcement • Jan 09
HiPay Group SA has filed a Follow-on Equity Offering in the amount of €6.765 million. HiPay Group SA has filed a Follow-on Equity Offering in the amount of €6.765 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 1,353,000
Price\Range: €5
Transaction Features: Rights Offering Reported Earnings • Sep 20
First half 2024 earnings released First half 2024 results: Revenue: €36.1m (up 11% from 1H 2023). Net income: €5.02m (up €5.72m from 1H 2023). Profit margin: 14% (up from net loss in 1H 2023). Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Diversified Financial industry in France. New Risk • Aug 18
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 6.6% 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: Minor Risks High level of debt (75% net debt to equity). Share price has been volatile over the past 3 months (6.6% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (€35.2m market cap, or US$38.8m). Major Estimate Revision • Jul 31
Consensus EPS estimates increase by 14% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from €0.74 to €0.84. Revenue forecast unchanged at €70.0m. Net income forecast to grow 94% next year vs 22% growth forecast for Diversified Financial industry in France. Consensus price target of €18.00 unchanged from last update. Share price was steady at €7.50 over the past week. Valuation Update With 7 Day Price Move • Jun 14
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to €6.28, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 11x in the Diversified Financial industry in France. Total loss to shareholders of 59% over the past three years. Reported Earnings • May 02
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: €0.44 (up from €1.57 loss in FY 2022). Revenue: €65.5m (up 11% from FY 2022). Net income: €2.17m (up €9.95m from FY 2022). Profit margin: 3.3% (up from net loss in FY 2022). Revenue is forecast to grow 6.5% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Diversified Financial industry in France. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has fallen by 20% per year, which means it is performing significantly worse than earnings. New Risk • Apr 07
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. 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: Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Share price has been volatile over the past 3 months (7.7% average weekly change). Market cap is less than US$100m (€32.7m market cap, or US$35.5m). Reported Earnings • Sep 15
First half 2023 earnings released First half 2023 results: Revenue: €32.6m (up 19% from 1H 2022). Net loss: €702.0k (loss narrowed 80% from 1H 2022). Revenue is forecast to grow 9.5% p.a. on average during the next 3 years, compared to a 8.4% growth forecast for the Diversified Financial industry in France. Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has increased by 25% per year, which means it is well ahead of earnings. Breakeven Date Change • Apr 13
Forecast to breakeven in 2024 The analyst covering HiPay Group expects the company to break even for the first time. New forecast suggests the company will make a profit of €700.0k in 2024. Average annual earnings growth of 97% is required to achieve expected profit on schedule. Buying Opportunity • Dec 19
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 34%. The fair value is estimated to be €4.44, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 49%. Revenue is forecast to grow by 25% in 2 years. Earnings is forecast to grow by 70% in the next 2 years. Breakeven Date Change • Nov 16
No longer forecast to breakeven The 2 analysts covering HiPay Group no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of €2.60m in 2023. New consensus forecast suggests the company will make a loss of €2.20m in 2024. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Director Stephanie Le Beuze was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Breakeven Date Change • Oct 27
No longer forecast to breakeven The 2 analysts covering HiPay Group no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of €2.60m in 2023. New consensus forecast suggests the company will make a loss of €500.0k in 2023. Breakeven Date Change • Oct 13
No longer forecast to breakeven The 2 analysts covering HiPay Group no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of €2.60m in 2023. New consensus forecast suggests the company will make a loss of €1.90m in 2024. Reported Earnings • Sep 19
First half 2022 earnings released: EPS: €0 (vs €0.19 loss in 1H 2021) First half 2022 results: EPS: €0. Revenue: €27.5m (up 2.6% from 1H 2021). Net loss: €3.59m (loss widened 282% from 1H 2021). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 8.4% growth forecast for the IT industry in France. Major Estimate Revision • Sep 16
Consensus EPS estimates fall by 226% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from €59.1m to €57.9m. Losses expected to increase from €0.27 per share to €0.88. IT industry in France expected to see average net income growth of 17% next year. Consensus price target down from €35.00 to €27.50. Share price fell 37% to €6.10 over the past week. Buying Opportunity • Sep 15
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 19%. The fair value is estimated to be €10.24, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Earnings per share has grown by 47%. Revenue is forecast to grow by 9.6% in a year. Earnings is forecast to grow by 68% in the next year. Major Estimate Revision • Jul 30
Consensus EPS estimates fall by 59% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from €62.0m to €59.1m. Losses expected to increase from €0.17 per share to €0.27. IT industry in France expected to see average net income growth of 24% next year. Consensus price target of €35.00 unchanged from last update. Share price fell 5.7% to €9.24 over the past week. Breakeven Date Change • Apr 27
Forecast breakeven date pushed back to 2023 The 2 analysts covering HiPay Group previously expected the company to break even in 2022. New consensus forecast suggests losses will reduce by 79% to 2022. The company is expected to make a profit of €2.80m in 2023. Average annual earnings growth of 133% is required to achieve expected profit on schedule. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Director Stephanie Beuze was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Breakeven Date Change • Apr 14
Forecast breakeven date moved forward to 2022 The 2 analysts covering HiPay Group previously expected the company to break even in 2023. New consensus forecast suggests the company will make a profit of €1.00m in 2022. Earnings growth of 132% is required to achieve expected profit on schedule. Reported Earnings • Apr 09
Full year 2021 earnings: Revenues miss analyst expectations Full year 2021 results: Revenue: €53.9m (up 18% from FY 2020). Net loss: €4.35m (loss widened 132% from FY 2020). Revenue missed analyst estimates by 3.0%. Over the next year, revenue is forecast to grow 22%, compared to a 11% growth forecast for the industry in France. Breakeven Date Change • Feb 26
Forecast breakeven date pushed back to 2023 The 2 analysts covering HiPay Group previously expected the company to break even in 2022. New consensus forecast suggests losses will reduce by 54% per year to 2022. The company is expected to make a profit of €600.0k in 2023. Average annual earnings growth of 82% is required to achieve expected profit on schedule. Buying Opportunity • Feb 21
Now 24% undervalued after recent price drop Over the last 90 days, the stock is down 10.0%. The fair value is estimated to be €20.17, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% per annum over the last 3 years. Earnings per share has grown by 45% per annum over the last 3 years. Is New 90 Day High Low • Jan 18
New 90-day high: €14.90 The company is up 77% from its price of €8.40 on 20 October 2020. The French market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is up 5.0% over the same period. Announcement • Dec 12
HiPay Group SA, Annual General Meeting, Dec 10, 2020 HiPay Group SA, Annual General Meeting, Dec 10, 2020. Agenda: To approve provisions of article L . 421-14 of the Monetary and Financial Code, the plan to transfer its shares from compartment C of the Euronext Paris market to the Euronext Growth Paris market, and conferred all powers on the Board of Directors for the purpose of implementing this transfer to the listing market. Is New 90 Day High Low • Dec 01
New 90-day high: €13.80 The company is up 247% from its price of €3.98 on 02 September 2020. The French market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is up 1.0% over the same period. Is New 90 Day High Low • Nov 02
New 90-day high: €10.20 The company is up 191% from its price of €3.50 on 04 August 2020. The French market is down 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is down 12% over the same period. Is New 90 Day High Low • Oct 05
New 90-day high: €5.30 The company is up 49% from its price of €3.55 on 07 July 2020. The French market is down 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is down 1.0% over the same period. 
