Reported Earnings • Jul 24
Full year 2026 earnings released: UK£0.002 loss per share (vs UK£0.001 loss in FY 2025) Full year 2026 results: UK£0.002 loss per share (further deteriorated from UK£0.001 loss in FY 2025). Revenue: UK£22.3m (up 22% from FY 2025). Net loss: UK£809.0k (loss widened 146% from FY 2025). Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. New Risk • Jul 24
New major risk - Revenue and earnings growth Earnings have declined by 15% 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 15% per year over the past 5 years. Minor Risk Market cap is less than US$100m (UK£62.4m market cap, or US$83.1m). Announcement • Jul 23
Software Circle plc, Annual General Meeting, Sep 02, 2026 Software Circle plc, Annual General Meeting, Sep 02, 2026. Location: king street townhouse hotel, 10 booth st, m2 4aw, manchester United Kingdom New Risk • Jun 14
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 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: Minor Risks Latest financial reports are more than 6 months old (reported September 2025 fiscal period end). Market cap is less than US$100m (UK£64.0m market cap, or US$85.8m). New Risk • Feb 17
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: UK£71.2m (US$96.4m) 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. This is currently the only risk that has been identified for the company. Reported Earnings • Nov 27
First half 2026 earnings released: UK£0.003 loss per share (vs UK£0.003 profit in 1H 2025) First half 2026 results: UK£0.003 loss per share (down from UK£0.003 profit in 1H 2025). Revenue: UK£10.2m (up 14% from 1H 2025). Net loss: UK£1.22m (down 198% from profit in 1H 2025). Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has increased by 67% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 14
Software Circle plc (AIM:SFT) completed the acquisition of Broker Information Services Limited for £8.2 million. Software Circle plc (AIM:SFT) acquired Broker Information Services Limited for £8.2 million on October 13, 2025. A cash consideration of £6.9 million will be paid by Software Circle plc. Software Circle plc will pay an earnout/contingent payment of £1.35 million cash. As part of consideration, £8.25 million is paid towards common equity of Broker Information Services Limited.
Software Circle plc (AIM:SFT) completed the acquisition of Broker Information Services Limited on October 13, 2025. Reported Earnings • Jul 24
Full year 2025 earnings released: UK£0.001 loss per share (vs UK£0.009 loss in FY 2024) Full year 2025 results: UK£0.001 loss per share (improved from UK£0.009 loss in FY 2024). Revenue: UK£18.3m (up 13% from FY 2024). Net loss: UK£329.0k (loss narrowed 86% from FY 2024). Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has increased by 73% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 23
Software Circle plc, Annual General Meeting, Sep 03, 2025 Software Circle plc, Annual General Meeting, Sep 03, 2025. Location: the offices of gateley plc, ship canal house, 98 king street, m2 4wu, manchester United Kingdom Buy Or Sell Opportunity • Jul 10
Now 22% undervalued Over the last 90 days, the stock has risen 5.6% to UK£0.28. The fair value is estimated to be UK£0.37, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 30% over the last 3 years. Meanwhile, the company has become profitable. New Risk • Jun 23
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 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: Minor Risks Latest financial reports are more than 6 months old (reported September 2024 fiscal period end). Large one-off items impacting financial results. Buy Or Sell Opportunity • May 14
Now 20% undervalued Over the last 90 days, the stock has risen 7.7% to UK£0.28. The fair value is estimated to be UK£0.35, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 30% over the last 3 years. Meanwhile, the company has become profitable. Buy Or Sell Opportunity • Apr 23
Now 21% undervalued Over the last 90 days, the stock has risen 10.0% to UK£0.28. The fair value is estimated to be UK£0.35, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 30% over the last 3 years. Meanwhile, the company has become profitable. Buy Or Sell Opportunity • Apr 04
Now 23% undervalued Over the last 90 days, the stock has risen 15% to UK£0.27. The fair value is estimated to be UK£0.35, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 30% over the last 3 years. Meanwhile, the company has become profitable. Recent Insider Transactions • Mar 10
Chairman of the Board recently bought UK£142k worth of stock On the 4th of March, Matthias Riechert bought around 469k shares on-market at roughly UK£0.30 per share. This transaction amounted to 17% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Matthias has been a buyer over the last 12 months, purchasing a net total of UK£169k worth in shares. New Risk • Feb 04
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: UK£75k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Significant insider selling over the past 3 months (UK£75k sold). Recent Insider Transactions • Feb 03
Company Secretary & Executive Director recently sold UK£75k worth of stock On the 31st of January, Richard Lightfoot sold around 326k shares on-market at roughly UK£0.23 per share. This transaction amounted to 34% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought UK£27k more than they sold in the last 12 months. Reported Earnings • Dec 07
First half 2025 earnings released: EPS: UK£0.003 (vs UK£0.013 loss in 1H 2024) First half 2025 results: EPS: UK£0.003 (up from UK£0.013 loss in 1H 2024). Revenue: UK£8.92m (up 8.1% from 1H 2024). Net income: UK£1.25m (up UK£2.83m from 1H 2024). Profit margin: 14% (up from net loss in 1H 2024). Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 68% per year, which means it is well ahead of earnings. Announcement • Nov 25
Software Circle plc to Report First Half, 2025 Results on Dec 05, 2024 Software Circle plc announced that they will report first half, 2025 results on Dec 05, 2024 Announcement • Nov 20
Software Circle plc Appoints Brad Ormsby as Non-Executive Director Octopus AIM VCT 2 plc announced that Brad Ormsby, a Non-Executive Director of the company, was appointed a Non-Executive Director of Software Circle plc with effect from 18 September 2024. Announcement • Sep 18
Software Circle plc Announces Board Changes Software Circle plc will advise shareholders at the Annual General Meeting (AGM) to be held on 18 September 2024, immediately following the meeting, the following changes will be made to the Group's Board: As previously announced, Jan Mohr will resign as Chairman. Conrad Bona will step down as Non-Executive Director given his length of service on the board. Reported Earnings • Aug 27
Full year 2024 earnings released: UK£0.009 loss per share (vs UK£0.012 loss in FY 2023) Full year 2024 results: UK£0.009 loss per share. Revenue: UK£16.2m (up 38% from FY 2023). Net loss: UK£2.37m (loss widened 68% from FY 2023). Announcement • Aug 26
Software Circle plc, Annual General Meeting, Sep 18, 2024 Software Circle plc, Annual General Meeting, Sep 18, 2024. Location: the offices of gateley plc, ship canal house, 98 king street, m2 4wu, manchester United Kingdom Announcement • Jul 26
Software Circle plc (AIM:SFT) acquired Link Maker Systems Limited from Craig Rigby-Wilson (Co-CEO), Andy Leary-May (Co-CEO) and Linda Hill for £4.5 million. Software Circle plc (AIM:SFT) acquired Link Maker Systems Limited from Craig Rigby-Wilson (Co-CEO), Andy Leary-May (Co-CEO) and Linda Hill for £4.5 million on July 26, 2024. Under the terms of agreement, the total consideration of £4.5 million will be satisfied in cash and is structured on a debt free/cash free basis. The acquisition is expected to be cash flow generative and earnings enhancing in the first year after acquisition. The initial consideration paid at completion was £3.0 million. Up to a further £1.5 million is payable contingent upon the achievement of certain targets relating to the future financial performance of Link Maker (the "Contingent Consideration"). The Contingent Consideration is dependent on Link Maker achieving certain annual recurring revenue targets and may be achieved in full or in part by exceeding those targets in the year commencing July 2025. The £3.0 million initial consideration was funded from existing Software Circle cash reserves. The unaudited financial statements for Link Maker for the year ended March 31, 2024 reported revenue of £1.56 million, EBIT of £0.89 million and closing net assets of £0.46 million. David Hart and Piers Shimwell of Allenby Capital Limited acted as financial advisor to Software Circle plc.
Software Circle plc (AIM:SFT) completed the acquisition of Link Maker Systems Limited from Craig Rigby-Wilson (Co-CEO), Andy Leary-May (Co-CEO) and Linda Hill on July 26, 2024. Reported Earnings • Jul 25
Full year 2024 earnings released: UK£0.009 loss per share (vs UK£0.012 loss in FY 2023) Full year 2024 results: UK£0.009 loss per share. Revenue: UK£16.2m (up 38% from FY 2023). Net loss: UK£2.37m (loss widened 68% from FY 2023). New Risk • Jun 14
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 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: Major Risk Shareholders have been substantially diluted in the past year (241% increase in shares outstanding). Minor Risks Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). Market cap is less than US$100m (UK£74.1m market cap, or US$94.2m). Announcement • May 30
Software Circle plc (AIM:SFT) acquired Be The Brand Experience Limited for £3.5 million Software Circle plc (AIM:SFT) acquired Be The Brand Experience Limited for £3.5 million on May 30, 2024. The total consideration of £3.5 million will be satisfied in cash and is structured on a debt free and cash free basis. The acquisition is expected to be cash flow generative and earnings enhancing in the first year after acquisition. Initial consideration of £2.8 million was paid on completion and a further £0.7 million of deferred consideration will be paid on the first anniversary of completion. Adam Hainsworth, Managing Director and a shareholder, will remain with the business for 12 months to oversee the transition. The other two shareholders, Guy Hainsworth and Jes Ongley, have entered into new employment contracts and will continue to lead the team of thirteen staff. David Hart and Piers Shimwell from Allenby Capital Limited act as financial advisor for Software Circle plc.
Software Circle plc (AIM:SFT) completed the acquisition of Be The Brand Experience Limited on May 30, 2024. Buy Or Sell Opportunity • Mar 12
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 15% to UK£0.15. The fair value is estimated to be UK£0.13, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 10%. Buy Or Sell Opportunity • Feb 23
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 19% to UK£0.15. The fair value is estimated to be UK£0.13, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 10%. Announcement • Feb 21
Software Circle plc (AIM:SFT) acquired Arc Technology Limited for £2.0 million. Software Circle plc (AIM:SFT) acquired Arc Technology Limited for £2.0 million on February 21, 2024. The total consideration of up to £2.0 million will be satisfied in cash and is structured on a debt-free/cash-free basis. The initial consideration paid at completion was £1.1 million, with a deferred consideration of £0.3 million to be paid on the first anniversary of completion. Up to a further £0.6m is payable contingent upon the achievement of certain targets relating to the future financial performance of ARC Technology Limited. The £1.1 million initial consideration was funded from existing Software Circle cash reserves. The Earn-out is dependent on ARC achieving certain annual recurring revenue targets and may be achieved in full or in part by exceeding those targets in any of the two years commencing February 21, 2024. Nader Bishay, Managing Director and 50% shareholder of ARC, will remain with the business, enteringinto a new employment contract, and will continue to lead the team of eight staff located in England. Founding shareholder Soraia Bishay will leave the business. The unaudited financial statements for ARC for the year ended July 31, 2023, reported revenue of £1.1 million, EBIT of £0.34 million, and closing net assets of £0.94 million. David Hart, Piers Shimwell, Stefano Aquilino and Joscelin Pinnington of Allenby Capital Limited acted as financial advisors for Software Circle plc.
Software Circle plc (AIM:SFT) completed the acquisition of Arc Technology Limited on February 21, 2024. Buy Or Sell Opportunity • Jan 19
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 22% to UK£0.14. The fair value is estimated to be UK£0.11, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 10%. Reported Earnings • Dec 01
First half 2024 earnings released: UK£0.013 loss per share (vs UK£0.004 loss in 1H 2023) First half 2024 results: UK£0.013 loss per share (further deteriorated from UK£0.004 loss in 1H 2023). Revenue: UK£8.25m (up 41% from 1H 2023). Net loss: UK£1.58m (loss widened 250% from 1H 2023). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 44% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Sep 25
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 139% 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 Risk Shareholders have been substantially diluted in the past year (139% increase in shares outstanding). Minor Risk Market cap is less than US$100m (UK£24.7m market cap, or US$30.2m). Announcement • Sep 23
Sun Mountain Partners, LLC acquired a 11.8% stake in Grafenia Plc (AIM:GRA). Sun Mountain Partners, LLC acquired a 11.8% stake in Grafenia Plc (AIM:GRA) on September 21, 2023. Pursuant to transaction, Sun Mountain Partners acquired 31,764,704 shares, representing 11.8% stake in Grafenia.Sun Mountain Partners, LLC completed the acquisition of a 11.8% stake in Grafenia Plc (AIM:GRA) on September 21, 2023. New Risk • Sep 17
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 4.4% 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: Minor Risks Shareholders have been diluted in the past year (4.4% increase in shares outstanding). Market cap is less than US$100m (UK£10.8m market cap, or US$13.3m). Announcement • Sep 16
Grafenia Plc, Annual General Meeting, Sep 26, 2023 Grafenia Plc, Annual General Meeting, Sep 26, 2023, at 09:00 Coordinated Universal Time. Location: Company's offices at Nettl of Birmingham Business Store 37a Great Charles Street Queensway Birmingham, United Kingdom Reported Earnings • Sep 01
Full year 2023 earnings released: UK£0.012 loss per share (vs UK£0.005 loss in FY 2022) Full year 2023 results: UK£0.012 loss per share (further deteriorated from UK£0.005 loss in FY 2022). Revenue: UK£11.7m (up 31% from FY 2022). Net loss: UK£1.41m (loss widened 152% from FY 2022). Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jul 28
Full year 2023 earnings released: UK£0.012 loss per share (vs UK£0.005 loss in FY 2022) Full year 2023 results: UK£0.012 loss per share (further deteriorated from UK£0.005 loss in FY 2022). Revenue: UK£11.7m (up 31% from FY 2022). Net loss: UK£1.41m (loss widened 152% from FY 2022). Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • Jan 19
Grafenia Plc acquired Care Management Systems Limited for £3.5 million. Grafenia Plc acquired Care Management Systems Limited for £3.5 million on January 18, 2023. The initial consideration of £2.975 million will be paid on completion, together with deferred consideration of £0.525 million will be paid on the first anniversary of completion. As of February 28, 2022, CMS reported revenue of £2.45 million, EBIT of £0.12 million and closing net assets of £1.3 million. Allenby Capital Limited acted as financial advisor to Grafenia Plc. Adam Kaucher and Gregory Mazgajczyk of Irwin Mitchell LLP acted as legal advisor to Care Management Systems. Gateley Plc acted as legal advisor to Grafenia.
Grafenia Plc completed the acquisition of Care Management Systems Limited on January 18, 2023. Announcement • Jan 18
Grafenia Plc to Report Fiscal Year 2023 Results on Apr 30, 2023 Grafenia Plc announced that they will report fiscal year 2023 results on Apr 30, 2023 Announcement • Dec 08
Grafenia Plc (AIM:GRA) acquired Watermark Technologies Limited for £2.5 million. Grafenia Plc (AIM:GRA) acquired Watermark Technologies Limited for £2.5 million on December 7, 2022. The initial consideration comprises cash of £1.5 million to be paid on completion, together with deferred consideration of £1.0 million to be paid on the first anniversary of completion. As of March 31, 2022, Watermark Technologies reported revenue of £1.21 million, EBIT of £0.44 million and closing net assets of £0.46 million.
Grafenia Plc (AIM:GRA) completed the acquisition of Watermark Technologies Limited on December 7, 2022. Reported Earnings • Nov 25
First half 2023 earnings released First half 2023 results: UK£0.006 loss per share. Revenue: UK£4.97m (down 21% from 1H 2022). Net loss: UK£484.0k (loss narrowed 24% from 1H 2022). Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non Executive Director Simon Barrell was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Nov 02
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non Executive Director Simon Barrell was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Oct 31
Grafenia plc Appoints Matthias Riechert to the Board as A Non-Executive Director Grafenia Plc announced the appointment of Matthias Riechert to the Board as a Non-Executive Director with effect from 31 October 2022. Matthias is a founder and Director of P&R Investment Management Limited ("P&R"), an investment advisory firm. Previously, Matthias worked in sales and trading at Citigroup Global Markets for nine years. He has an MBA from London Business School and Columbia Business School where he specialised in value investing. P&R is acting as the mandated investment advisor to Axxion S.A., the alternative investment manager of the P&R Real Value fund. Axxion S.A. currently holds 5,634,919 ordinary shares in Grafenia plc in relation to the P&R Real Value fund, makes its own investment decisions in that regard and is independent of Mr. Riechert. Matthias Siegfried Riechert, aged 49, has held the following directorships and/or partnerships in the past five years: Current directorships and/or partnerships · Maxigendance Limited · P&R Investment Management Limited · Polleit & Riechert Investment Management LLP. Announcement • Sep 24
Grafenia Plc (AIM:GRA) agreed to acquire Vertical Plus for £2.9 million. Grafenia Plc (AIM:GRA) agreed to acquire Vertical Plus for £2.9 million on September 22, 2022. Under the terms of transaction, £2.88 million will be paid in cash, £1.00 million as deferred payment and £0.63 million as earnout. The Company is seeking to raise £4.25 million via an issue of bonds, £1.25 million of which will be used for the initial consideration due on the acquisition. Completion of the acquisition is conditional on the completion of short form sale and purchase agreements by minority shareholders of Vertical Plus and funds being raised by Grafenia via the bond facility put in place in 2020. The unaudited financial statements for Vertical Plus for the year ended 31 March 2022 reported revenue of £2.01m, EBIT of £0.25m, and closing net assets of £1.29m. Announcement • Jul 30
Grafenia Plc, Annual General Meeting, Sep 14, 2022 Grafenia Plc, Annual General Meeting, Sep 14, 2022. Reported Earnings • Jul 28
Full year 2022 earnings released: UK£0.016 loss per share (vs UK£0.018 loss in FY 2021) Full year 2022 results: UK£0.016 loss per share (up from UK£0.018 loss in FY 2021). Revenue: UK£12.4m (up 27% from FY 2021). Net loss: UK£1.15m (loss narrowed 45% from FY 2021). Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Announcement • May 20
Rymack Sign Solutions Limited ntered into a sale and purchase agreement to acquire Works Manchester Limited from Grafenia Plc (AIM:GRA) for £3.2 million. Rymack Sign Solutions Limited ntered into a sale and purchase agreement to acquire Works Manchester Limited from Grafenia Plc (AIM:GRA) for £3.2 million on May 19, 2022. The transaction is conditional on Grafenia Operations and Works Manchester completing a business purchase agreement ("BPA") in respect of the sale of certain business and assets to Works Manchester. Grafenia will enter into a five-year supply agreement under which Works Manchester will continue to manufacture and supply products to their partners, via their platform. Works Manchester will enter into a five-year software licence for the right to use w3p, the Grafenia production platform, at a fee of £10,000 per month. Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 5 experienced directors. 1 highly experienced director. 3 independent directors (4 non-independent directors). Independent Non Executive Director Simon Barrell was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Apr 07
Grafenia Plc Provides Earnings Guidance for the Full Year of 2022 Grafenia Plc provided earnings guidance for the full year of 2022. For the period, the company expects sales in excess of £12.0 million (2021: £9.65 million). Whilst this isn't back to pre-pandemic levels, cost base is significantly different and the breakeven point is much lower. Reported Earnings • Nov 24
First half 2022 earnings: Revenues and EPS in line with analyst expectations First half 2022 results: UK£0.006 loss per share (up from UK£0.01 loss in 1H 2021). Revenue: UK£6.31m (up 20% from 1H 2021). Net loss: UK£633.0k (loss narrowed 46% from 1H 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Reported Earnings • Jul 29
Full year 2021 earnings released: UK£0.018 loss per share (vs UK£0.033 loss in FY 2020) The company reported a decent full year result with reduced losses and improved control over expenses, although revenues were weaker. Full year 2021 results: Revenue: UK£9.75m (down 38% from FY 2020). Net loss: UK£2.09m (loss narrowed 38% from FY 2020). Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Announcement • May 29
Grafenia Plc Proposes the Distribution of Dividend in the Amount of EUR 0.8232 Per Share, Subject to the Approval of the Dividend by the AGM to Be Held on June 30, 2021 The board of directors of the Grafenia Plc has proposed the distribution of dividend in the amount of EUR 0.8232 per share, subject to the approval of the dividend by the AGM to be held on June 30, 2021. Announcement • Apr 18
Grafenia plc Provides Earnings Guidance for the Year Ended 31 March 2021 Grafenia Plc provided earnings guidance for the year ended 31 March 2021. For the period, The company expects full year revenue to be around £9.5 million (2020: £15.6 million). Expect net loss to be lower than last year. Reported Earnings • Nov 27
First half 2021 earnings released: UK£0.01 loss per share The company reported a poor first half result with increased losses and weaker revenues and control over expenses. First half 2021 results: Revenue: UK£5.25m (down 38% from 1H 2020). Net loss: UK£1.17m (loss widened 8.5% from 1H 2020). Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has fallen by 23% per year, which means it is performing significantly worse than earnings. 
