New Risk • Apr 17
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: Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Currently unprofitable and not forecast to become profitable next year (UK£1.6k net loss next year). Market cap is less than US$100m (UK£7.54m market cap, or US$10.2m). New Risk • Mar 31
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: UK£7.54m (US$9.98m) 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 Risk Market cap is less than US$10m (UK£7.54m market cap, or US$9.98m). Minor Risk Currently unprofitable and not forecast to become profitable next year (UK£1.6k net loss next year). New Risk • Mar 18
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next year. Trailing 12-month net loss: UK£215k Forecast net loss in 1 year: UK£1.6k 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: Minor Risks Currently unprofitable and not forecast to become profitable next year (UK£1.6k net loss next year). Market cap is less than US$100m (UK£10.7m market cap, or US$14.2m). Board Change • Jan 05
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 7 non-independent directors. Independent Non-Executive Director Damian Hopkins was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 05
First half 2025 earnings released: UK£0.016 loss per share (vs UK£0.003 loss in 1H 2024) First half 2025 results: UK£0.016 loss per share (further deteriorated from UK£0.003 loss in 1H 2024). Revenue: UK£8.00m (down 9.5% from 1H 2024). Net loss: UK£500.0k (loss widened 488% from 1H 2024). Revenue is forecast to grow 8.3% p.a. on average during the next 2 years, compared to a 8.4% growth forecast for the Software industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Board Change • Sep 11
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 6 non-independent directors. Independent Non-Executive Director Damian Hopkins was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • May 15
Full year 2024 earnings released: EPS: UK£0.006 (vs UK£0.029 loss in FY 2023) Full year 2024 results: EPS: UK£0.006 (up from UK£0.029 loss in FY 2023). Revenue: UK£17.9m (up 11% from FY 2023). Net income: UK£200.0k (up UK£1.09m from FY 2023). Profit margin: 1.1% (up from net loss in FY 2023). Revenue is forecast to grow 4.3% p.a. on average during the next 2 years, compared to a 7.5% growth forecast for the Software industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 25% per year, which means it is performing significantly worse than earnings. Announcement • May 13
Itim Group Plc, Annual General Meeting, Jun 13, 2025 Itim Group Plc, Annual General Meeting, Jun 13, 2025. Location: the offices of the company, 2nd floor, atlas house, 173 victoria street, sw1e 5na, london United Kingdom New Risk • May 02
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 British 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 Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Market cap is less than US$100m (UK£18.1m market cap, or US$24.0m). New Risk • Apr 13
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: Minor Risks 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 (9.5% average weekly change). Market cap is less than US$100m (UK£15.1m market cap, or US$19.7m). New Risk • Feb 27
New major risk - Revenue and earnings growth Earnings have declined by 73% 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 73% per year over the past 5 years. Minor Risk Market cap is less than US$100m (UK£12.8m market cap, or US$16.2m). Announcement • Nov 07
Itim Group plc Appoints Dennis Claude Layton as Non-Executive Director of the Board itim Group plc announced the appointment of Dennis Claude Layton, aged 57, as Non-Executive Director of the Board, with immediate effect. Dennis is a highly accomplished senior advisor and executive, with extensive experience in management consulting and organisational transformation. He currently serves as a Senior Advisor at McKinsey & Company in London working in a diverse range of sectors. Dennis previously led the Organisation Practice in the UK & Ireland at McKinsey and pioneered diversity and human capital strategies. Previously, Dennis was a Partner at Oliver Wyman, where he led agile organisational transformations for major financial, media, and telecommunications companies. His earlier tenure at EY saw him as Deputy Global Leader of People Advisory Services, driving significant growth and strategic initiatives. Dennis also founded and served as CEO of Ikon Exchange, a platform enabling fractional ownership of fine art held by museums. A list of Dennis' current directorships and partnerships together with those held within the last five years is set out below: Current appointments: Jermyn Street Partners, Lokbowicz Collections O.P.S. Appointments within previous 5 years: Ikon Exchange Limited. Reported Earnings • Sep 27
First half 2024 earnings released: UK£0.003 loss per share (vs UK£0.03 loss in 1H 2023) First half 2024 results: UK£0.003 loss per share (improved from UK£0.03 loss in 1H 2023). Revenue: UK£8.84m (up 19% from 1H 2023). Net loss: UK£85.0k (loss narrowed 91% from 1H 2023). Revenue is forecast to grow 2.2% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Software industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 55 percentage points per year, which is a significant difference in performance. Announcement • Sep 09
itim Group plc Announces Board Changes itim Group plc announced the appointment of Colin Price as Non-Executive Chairman of the Board, with immediate effect. Mr. Price succeeds Michael Jackson, who is stepping down from his role as Non-Executive Chairman with immediate effect but will remain on the Board as a Non-Executive Director. Colin Price brings a wealth of experience in consulting, operations, and academia to his new role. His extensive background includes: 15 years as a partner at McKinsey & Company, including seven years as the worldwide leader of McKinsey's Organisation Practice · CEO of Heidrick Consulting · Chairman of Co-Company, a boutique consulting firm focused on organisation development · COO of Quintet Private Bank · Co-founder of Talos Capital, an investment vehicle focused on AI in financial services Mr. Price also holds academic positions as a Visiting Fellow at Said Business School, University of Oxford, and as a Visiting Professor at the Institute for Global Health Innovation, Imperial College. He is the author of several influential books on business performance and organisational development. Colin Neil Price, aged 66, does not own any shares in the Company but as part of his employment contract he has been issued options over 250,000 ordinary shares in the Company at an exercise price of 34p. These vest immediately and are exercisable at any time over the next 10 years. A list of Colin's current directorships and partnerships together with those held within the last five years is set out below: Current appointments: Accelerating Performance Consulting Limited, Talos Capital (UK) Limited, Timeless Releasing LLP (LLP Member). Appointments within previous 5 years: Abacai Technologies Limited, Key Topco Limited, Hyperperformance Limited, Complete Cover Group Limited, Meribel Ski Flat SARL. In addition, Colin is an LLP Member of D III LLP (previously, the Film Development Partnership III LLP) ("DLLP"). Announcement • Jun 15
Justin King Steps Down from the Board as Non-Executive Director of Itim Group Plc Itim Group Plc announced that Following considerable additional work commitments including becoming Chairman of Allwyn, the operator of the National Lottery and Chairman of Ovo Group, Justin King has chosen not to be re-elected as a Non-Executive Director at the AGM and has stood down from the Board and accordingly has ceased to be a Director of the Company with immediate effect. Announcement • May 15
Itim Group Plc, Annual General Meeting, Jun 14, 2024 Itim Group Plc, Annual General Meeting, Jun 14, 2024. Location: the offices of the company, 2nd floor, atlas house, 173 victoria street, sw1e 5na, london United Kingdom Reported Earnings • May 13
Full year 2023 earnings released: UK£0.029 loss per share (vs UK£0.022 loss in FY 2022) Full year 2023 results: UK£0.029 loss per share (further deteriorated from UK£0.022 loss in FY 2022). Revenue: UK£16.1m (up 15% from FY 2022). Net loss: UK£892.0k (loss widened 30% from FY 2022). Revenue is forecast to grow 8.3% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Software industry in the United Kingdom. New Risk • Apr 15
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: Major Risks Share price has been highly volatile over the past 3 months (22% average weekly change). Earnings have declined by 68% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Market cap is less than US$100m (UK£14.0m market cap, or US$17.5m). New Risk • Feb 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 British stocks, typically moving 21% 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 (21% average weekly change). Earnings have declined by 68% per year over the past 5 years. Minor Risk Market cap is less than US$100m (UK£11.5m market cap, or US$14.6m). New Risk • Oct 03
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: UK£7.49m (US$9.06m) 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 Earnings have declined by 68% per year over the past 5 years. Market cap is less than US$10m (UK£7.49m market cap, or US$9.06m). Reported Earnings • Oct 01
First half 2023 earnings released: UK£0.03 loss per share (vs UK£0.012 loss in 1H 2022) First half 2023 results: UK£0.03 loss per share (further deteriorated from UK£0.012 loss in 1H 2022). Revenue: UK£7.43m (up 9.4% from 1H 2022). Net loss: UK£941.0k (loss widened 151% from 1H 2022). Revenue is forecast to grow 9.7% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Software industry in the United Kingdom. Price Target Changed • Nov 16
Price target decreased to UK£1.00 Down from UK£2.00, the current price target is provided by 1 analyst. New target price is 67% above last closing price of UK£0.60. Stock is down 50% over the past year. The company posted earnings per share of UK£0.0088 last year. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 8 non-independent directors. Non-Executive Director Justin King was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Sep 22
First half 2022 earnings released: EPS: UK£0 (vs UK£0.002 loss in 1H 2021) First half 2022 results: EPS: UK£0. Revenue: UK£6.78m (up 6.6% from 1H 2021). Net loss: UK£375.0k (loss widened UK£323.0k from 1H 2021). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 9.5% growth forecast for the Software industry in the United Kingdom. Reported Earnings • May 13
Full year 2021 earnings released: EPS: UK£0.009 (vs UK£0.075 in FY 2020) Full year 2021 results: EPS: UK£0.009 (down from UK£0.075 in FY 2020). Revenue: UK£13.5m (up 14% from FY 2020). Net income: UK£252.0k (down 74% from FY 2020). Profit margin: 1.9% (down from 8.1% in FY 2020). Over the next year, revenue is forecast to grow 8.4%, compared to a 26% growth forecast for the industry in the United Kingdom. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. No independent directors (8 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improved over the past week After last week's 22% share price gain to UK£1.26, the stock trades at a trailing P/E ratio of 47.1x. Average forward P/E is 40x in the Software industry in the United Kingdom.