New Risk • Jun 23
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €8.67m (US$9.88m) This is considered a major 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 Risks Less than 1 year of cash runway based on free cash flow trend (-€5.4m free cash flow). Earnings have declined by 41% per year over the past 5 years. Shareholders have been substantially diluted in the past year (292% increase in shares outstanding). Market cap is less than US$10m (€8.67m market cap, or US$9.88m). New Risk • May 22
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 292% 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 Less than 1 year of cash runway based on free cash flow trend (-€5.4m free cash flow). Earnings have declined by 41% per year over the past 5 years. Shareholders have been substantially diluted in the past year (292% increase in shares outstanding). Minor Risk Market cap is less than US$100m (€9.40m market cap, or US$10.9m). Announcement • May 07
Cibox Inter@ctive, Annual General Meeting, Jun 12, 2026 Cibox Inter@ctive, Annual General Meeting, Jun 12, 2026. Location: 18 boulevard malesherbes, paris France New Risk • May 03
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 Risks Earnings have declined by 50% per year over the past 5 years. Market cap is less than US$10m (€2.46m market cap, or US$2.88m). Minor Risk Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). New Risk • Dec 27
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 9.9% 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 Share price has been highly volatile over the past 3 months (9.9% average weekly change). Earnings have declined by 50% per year over the past 5 years. Market cap is less than US$10m (€2.73m market cap, or US$3.21m). Reported Earnings • Oct 20
First half 2025 earnings released First half 2025 results: Revenue: €4.29m (up 1.2% from 1H 2024). Net loss: €1.74m (loss widened 79% from 1H 2024). New Risk • Oct 10
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 6.9% 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 57% per year over the past 5 years. Market cap is less than US$10m (€4.07m market cap, or US$4.71m). Minor Risk Share price has been volatile over the past 3 months (6.9% average weekly change). Announcement • May 10
Cibox Inter@ctive, Annual General Meeting, Jun 16, 2025 Cibox Inter@ctive, Annual General Meeting, Jun 16, 2025. Location: 18 boulevard malesherbes, paris France New Risk • Nov 15
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €8.89m (US$9.35m) This is considered a major 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 Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 62% per year over the past 5 years. Market cap is less than US$10m (€8.89m market cap, or US$9.35m). Minor Risk Shareholders have been diluted in the past year (18% increase in shares outstanding). New Risk • Sep 17
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risks No financial data reported. Share price has been highly volatile over the past 3 months (53% average weekly change). Market cap is less than US$10m (€8.21m market cap, or US$9.14m). Minor Risk Shareholders have been diluted in the past year (17% increase in shares outstanding). Announcement • May 26
Cibox Inter@ctive, Annual General Meeting, Jun 27, 2024 Cibox Inter@ctive, Annual General Meeting, Jun 27, 2024. Location: 18 boulevard malesherbes, paris France New Risk • May 24
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 56% 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 Less than 1 year of cash runway based on free cash flow trend (-€1.8m free cash flow). Share price has been highly volatile over the past 3 months (13% average weekly change). Earnings have declined by 62% per year over the past 5 years. Shareholders have been substantially diluted in the past year (56% increase in shares outstanding). Market cap is less than US$10m (€2.65m market cap, or US$2.87m). Reported Earnings • May 05
Full year 2023 earnings released: €0.001 loss per share (vs €0.02 loss in FY 2022) Full year 2023 results: €0.001 loss per share. Revenue: €4.79m (down 61% from FY 2022). Net loss: €2.68m (loss widened 31% from FY 2022). New Risk • Jan 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 7.5% 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: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 62% per year over the past 5 years. Market cap is less than US$10m (€2.77m market cap, or US$3.02m). Minor Risks Share price has been volatile over the past 3 months (7.5% average weekly change). Shareholders have been diluted in the past year (43% increase in shares outstanding). New Risk • Nov 05
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 62% per year over the past 5 years. Market cap is less than US$10m (€3.63m market cap, or US$3.89m). Minor Risk Shareholders have been diluted in the past year (43% increase in shares outstanding). New Risk • Jul 13
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 9.9% 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 Share price has been highly volatile over the past 3 months (9.9% average weekly change). Earnings have declined by 56% per year over the past 5 years. Market cap is less than US$10m (€3.30m market cap, or US$3.69m). Minor Risk Shareholders have been diluted in the past year (3.8% increase in shares outstanding). Reported Earnings • Apr 21
Full year 2022 earnings released Full year 2022 results: Revenue: €12.1m (down 24% from FY 2021). Net loss: €2.05m (loss widened €1.74m from FY 2021). Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. 1 independent director (4 non-independent directors). Director Yaacov Gorsd was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Oct 16
First half 2022 earnings released First half 2022 results: Revenue: €4.57m (down 22% from 1H 2021). Net loss: €1.30m (loss widened 241% from 1H 2021). 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. 4 non-independent directors. Director Yaacov Gorsd was the last director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Sep 26
First half 2021 earnings released The company reported a poor first half result with weaker earnings, revenues and control over costs. First half 2021 results: Revenue: €5.85m (down 19% from 1H 2020). Net loss: €382.0k (down 180% from profit in 1H 2020). Reported Earnings • Apr 27
Full year 2020 earnings released The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: €14.5m (up 107% from FY 2019). Net income: €744.0k (up €738.0k from FY 2019). Profit margin: 5.1% (up from 0.1% in FY 2019). Is New 90 Day High Low • Jan 14
New 90-day high: €0.24 The company is up 10.0% from its price of €0.22 on 16 October 2020. The French market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Tech industry, which is up 15% over the same period.