Reported Earnings • May 19
First quarter 2026 earnings released: ₪0.24 loss per share (vs ₪0.27 loss in 1Q 2025) First quarter 2026 results: ₪0.24 loss per share. Revenue: ₪6.29m (up 25% from 1Q 2025). Net loss: ₪18.7m (loss widened 7.2% from 1Q 2025). New Risk • Mar 27
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: -₪61m 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 Risks Less than 1 year of cash runway based on free cash flow trend (-₪61m free cash flow). Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 24% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (23% increase in shares outstanding). Market cap is less than US$100m (₪280.8m market cap, or US$89.2m). Reported Earnings • Mar 27
Full year 2025 earnings released: ₪1.20 loss per share (vs ₪1.58 loss in FY 2024) Full year 2025 results: ₪1.20 loss per share (improved from ₪1.58 loss in FY 2024). Revenue: ₪19.7m (up 53% from FY 2024). Net loss: ₪80.2m (loss narrowed 7.5% from FY 2024). Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 41% per year, which means it is significantly lagging earnings. New Risk • Feb 19
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₪305.6m (US$97.4m) 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. 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 (-₪60m free cash flow). Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 28% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (23% increase in shares outstanding). Revenue is less than US$5m (₪13m revenue, or US$4.1m). Market cap is less than US$100m (₪305.6m market cap, or US$97.4m). New Risk • Dec 09
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 38% 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 (-₪60m free cash flow). Share price has been highly volatile over the past 3 months (7.8% average weekly change). Earnings have declined by 28% per year over the past 5 years. Shareholders have been substantially diluted in the past year (38% increase in shares outstanding). Minor Risks Revenue is less than US$5m (₪13m revenue, or US$4.0m). Market cap is less than US$100m (₪263.7m market cap, or US$82.0m). Reported Earnings • Nov 30
Third quarter 2025 earnings released: ₪0.34 loss per share (vs ₪0.39 loss in 3Q 2024) Third quarter 2025 results: ₪0.34 loss per share. Net loss: ₪23.2m (loss widened 6.1% from 3Q 2024). Reported Earnings • Aug 23
Second quarter 2025 earnings released: ₪0.34 loss per share (vs ₪0.35 loss in 2Q 2024) Second quarter 2025 results: ₪0.34 loss per share. Net loss: ₪21.8m (loss widened 13% from 2Q 2024). Reported Earnings • May 24
First quarter 2025 earnings released: ₪0.27 loss per share (vs ₪0.37 loss in 1Q 2024) First quarter 2025 results: ₪0.27 loss per share (improved from ₪0.37 loss in 1Q 2024). Net loss: ₪17.5m (loss narrowed 6.7% from 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 52% per year, which means it is performing significantly worse than earnings. Announcement • May 23
Apollo Power Ltd., Annual General Meeting, Jun 26, 2025 Apollo Power Ltd., Annual General Meeting, Jun 26, 2025. Location: horovitz law offices, Israel Reported Earnings • Mar 24
Full year 2024 earnings released: ₪1.58 loss per share (vs ₪1.43 loss in FY 2023) Full year 2024 results: ₪1.58 loss per share (further deteriorated from ₪1.43 loss in FY 2023). Net loss: ₪86.7m (loss widened 31% from FY 2023). Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has fallen by 51% per year, which means it is performing significantly worse than earnings. New Risk • Feb 01
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 47% 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 (-₪77m free cash flow). Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 38% per year over the past 5 years. Shareholders have been substantially diluted in the past year (47% increase in shares outstanding). Minor Risks Revenue is less than US$5m (₪17m revenue, or US$4.7m). Market cap is less than US$100m (₪211.0m market cap, or US$59.0m). Reported Earnings • Oct 08
Second quarter 2024 earnings released Second quarter 2024 results: Net loss: ₪19.4m (loss widened 22% from 2Q 2023). New Risk • Jun 20
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 8.2% 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 (-₪87m free cash flow). Earnings have declined by 44% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.1% average weekly change). Shareholders have been diluted in the past year (8.2% increase in shares outstanding). Revenue is less than US$5m (₪13m revenue, or US$3.5m). Market cap is less than US$100m (₪261.0m market cap, or US$70.0m). Announcement • May 25
Apollo Power Ltd, Annual General Meeting, Jun 27, 2024 Apollo Power Ltd, Annual General Meeting, Jun 27, 2024. Location: horovitz law offices, Israel New Risk • Jan 21
New major risk - Revenue and earnings growth Earnings have declined by 45% 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 Risks Less than 1 year of cash runway based on free cash flow trend (-₪108m free cash flow). Share price has been highly volatile over the past 3 months (10% average weekly change). Earnings have declined by 45% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (11% increase in shares outstanding). Revenue is less than US$5m (₪7.0m revenue, or US$1.9m). Market cap is less than US$100m (₪262.1m market cap, or US$70.0m). New Risk • Jan 20
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 11% 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 Share price has been highly volatile over the past 3 months (10% average weekly change). Minor Risks Shareholders have been diluted in the past year (11% increase in shares outstanding). Revenue is less than US$5m (₪5.2m revenue, or US$1.4m). Market cap is less than US$100m (₪262.1m market cap, or US$70.0m). Reported Earnings • Dec 14
Third quarter 2023 earnings released: ₪0.36 loss per share (vs ₪0.40 loss in 3Q 2022) Third quarter 2023 results: ₪0.36 loss per share. Net loss: ₪16.9m (flat on 3Q 2022). New Risk • Oct 07
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₪365.4m (US$95.0m) 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 Risks Less than 1 year of cash runway based on free cash flow trend (-₪116m free cash flow). Share price has been highly volatile over the past 3 months (8.3% average weekly change). Earnings have declined by 45% per year over the past 5 years. Minor Risks Revenue is less than US$5m (₪7.3m revenue, or US$1.9m). Market cap is less than US$100m (₪365.4m market cap, or US$95.0m). Reported Earnings • Jul 30
Second quarter 2023 earnings released: ₪0.35 loss per share (vs ₪0.43 loss in 2Q 2022) Second quarter 2023 results: ₪0.35 loss per share (improved from ₪0.43 loss in 2Q 2022). Net loss: ₪15.9m (loss narrowed 12% from 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has increased by 37% per year, which means it is well ahead of earnings. New Risk • Jun 28
New major risk - Revenue and earnings growth Earnings have declined by 42% 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 Risks Less than 1 year of cash runway based on free cash flow trend (-₪111m free cash flow). Earnings have declined by 42% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.4% average weekly change). Revenue is less than US$5m (₪6.9m revenue, or US$1.9m). 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. 7 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent External Director Ziv Erez was the last independent director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Apr 27
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. 7 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent External Director Ziv Erez was the last independent director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Is New 90 Day High Low • Nov 24
New 90-day high: ₪7.87 The company is up 47% from its price of ₪5.35 on 26 August 2020. The Israeli market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Hospitality industry, which is up 24% over the same period. Is New 90 Day High Low • Oct 27
New 90-day high: ₪7.73 The company is up 27% from its price of ₪6.10 on 29 July 2020. The Israeli market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Hospitality industry, which is up 24% over the same period. Is New 90 Day High Low • Sep 30
New 90-day high: ₪6.94 The company is up 367% from its price of ₪1.49 on 02 July 2020. The Israeli market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Hospitality industry, which is up 8.0% over the same period.