Reported Earnings • Apr 05
Full year 2025 earnings released: EPS: ₪0.41 (vs ₪0.03 in FY 2024) Full year 2025 results: EPS: ₪0.41 (up from ₪0.03 in FY 2024). Revenue: ₪11.6m (up 67% from FY 2024). Net income: ₪3.42m (up ₪3.16m from FY 2024). Profit margin: 29% (up from 3.6% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. New Risk • Mar 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 Risks Shares are highly illiquid. Dividend is not well covered by earnings and cash flows. Dividend per share is over 35x earnings per share. Dividend per share is over 157x cash flows per share. Earnings have declined by 39% per year over the past 5 years. Revenue is less than US$1m (₪3.1m revenue, or US$982k). Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Market cap is less than US$100m (₪45.2m market cap, or US$14.5m). Announcement • Oct 22
Spring Ventures Ltd, Annual General Meeting, Nov 24, 2025 Spring Ventures Ltd, Annual General Meeting, Nov 24, 2025. Location: schnitzer gotlieb law offices, Israel New Risk • Oct 09
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 Israeli stocks, typically moving 8.0% 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 (8.0% average weekly change). Dividend is not well covered by earnings and cash flows. Dividend per share is over 35x earnings per share. Dividend per share is over 157x cash flows per share. Earnings have declined by 39% per year over the past 5 years. Revenue is less than US$1m (₪3.1m revenue, or US$939k). Minor Risk Market cap is less than US$100m (₪48.1m market cap, or US$14.7m). New Risk • Sep 02
New major risk - Revenue size The company makes less than US$1m in revenue. Total revenue: ₪3.2m (US$957k) This is considered a major risk. Companies with a small amount of revenue 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 Dividend is not well covered by earnings and cash flows. Dividend per share is over 35x earnings per share. Dividend per share is over 157x cash flows per share. Earnings have declined by 39% per year over the past 5 years. Revenue is less than US$1m (₪3.2m revenue, or US$957k). Minor Risks Share price has been volatile over the past 3 months (7.0% average weekly change). Market cap is less than US$100m (₪44.2m market cap, or US$13.2m). New Risk • Apr 02
New major risk - Revenue and earnings growth Earnings have declined by 31% 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 Dividend is not well covered by earnings and cash flows. Dividend per share is over 20x earnings per share. Paying a dividend despite having no free cash flows. Earnings have declined by 31% per year over the past 5 years. Minor Risks Revenue is less than US$5m (₪7.0m revenue, or US$1.9m). Market cap is less than US$100m (₪45.4m market cap, or US$12.3m). Reported Earnings • Apr 02
Full year 2024 earnings released: EPS: ₪0.03 (vs ₪4.26 loss in FY 2023) Full year 2024 results: EPS: ₪0.03 (up from ₪4.26 loss in FY 2023). Net income: ₪254.0k (up ₪36.1m from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 35 percentage points per year, which is a significant difference in performance. New Risk • Mar 18
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 Risks Dividend is not well covered by earnings and cash flows. Dividend per share is over 20x earnings per share. Paying a dividend despite having no free cash flows. High level of non-cash earnings (34% accrual ratio). Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Revenue is less than US$5m (₪9.3m revenue, or US$2.6m). Market cap is less than US$100m (₪45.5m market cap, or US$12.5m). Valuation Update With 7 Day Price Move • Nov 17
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₪5.21, the stock trades at a trailing P/E ratio of 20.9x. Average trailing P/E is 11x in the Capital Markets industry in Israel. Total loss to shareholders of 68% over the past three years. Announcement • Jun 21
Spring Ventures Ltd, Annual General Meeting, Jul 24, 2024 Spring Ventures Ltd, Annual General Meeting, Jul 24, 2024. Location: schnitzer gotlieb law offices, Israel New Risk • May 13
New minor risk - Dividend sustainability The company has a short dividend paying track record. Less than a year of continuous dividend payments. Dividend yield: 53% This is considered a minor risk. For dividend focussed investors, companies that have not established a long-term track record of consistently maintaining or growing dividends are less attractive than those companies that have a long track record. Those that have a long track record have proven their underlying business is stable enough to consistently maintain or grow the dividend and that the company considers maintaining the dividend to be one of its priorities. For dividend paying companies, any reduction in the dividend can significantly impact the share price. 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 8.9% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Short dividend paying track record (less than a year of continuous dividend payments). Market cap is less than US$100m (₪79.2m market cap, or US$21.2m). Reported Earnings • Apr 02
Full year 2023 earnings released: ₪4.26 loss per share (vs ₪3.44 profit in FY 2022) Full year 2023 results: ₪4.26 loss per share (down from ₪3.44 profit in FY 2022). Net loss: ₪35.9m (down 224% from profit in FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 77 percentage points per year, which is a significant difference in performance. New Risk • Mar 18
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 Shares are highly illiquid. Revenue is less than US$1m. Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Market cap is less than US$100m (₪73.8m market cap, or US$20.2m). New Risk • Jan 24
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 Israeli stocks, typically moving 6.7% 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 Risk Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (6.7% average weekly change). Market cap is less than US$100m (₪81.0m market cap, or US$21.8m). Announcement • Nov 26
Spring Ventures Ltd, Annual General Meeting, Dec 28, 2023 Spring Ventures Ltd, Annual General Meeting, Dec 28, 2023, at 17:30 Israel Standard Time. Announcement • Sep 14
Check Point Software Technologies Ltd. (NasdaqGS:CHKP) completed the acquisition of Perimeter 81 Ltd. from JAL Ventures Ltd. and others. Check Point Software Technologies Ltd. (NasdaqGS:CHKP) signs a definitive agreement to acquire Perimeter 81 Ltd. from JAL Ventures Ltd. and others for approximately $490 million on August 10, 2023. Under the terms of the agreement, Check Point will acquire Perimeter 81 for approximately $490 million, on a cash free, debt free basis. Check Point’s acquisition of Perimeter 81 is subject to customary closing conditions and is expected to close in the third quarter of 2023. Anat Igner, Tuvia J. Geffen, Michal Zohar and Dalit Ben of Dalit Ben acted as legal advisor to Check Point Software Technologies.Check Point Software Technologies Ltd. (NasdaqGS:CHKP) completed the acquisition of Perimeter 81 Ltd. from JAL Ventures Ltd. and others on September 13, 2023. Announcement • Aug 12
Check Point Software Technologies Ltd. (NasdaqGS:CHKP) signs a definitive agreement to acquire Perimeter 81 Ltd. from JAL Ventures Ltd. and others for approximately $490 million. Check Point Software Technologies Ltd. (NasdaqGS:CHKP) signs a definitive agreement to acquire Perimeter 81 Ltd. from JAL Ventures Ltd. and others for approximately $490 million on August 10, 2023. Under the terms of the agreement, Check Point will acquire Perimeter 81 for approximately $490 million, on a cash free, debt free basis. Check Point’s acquisition of Perimeter 81 is subject to customary closing conditions and is expected to close in the third quarter of 2023. Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to ₪11.97, the stock trades at a trailing P/E ratio of 3.5x. Average trailing P/E is 11x in the Capital Markets industry in Israel. Total returns to shareholders of 68% over the past three years. Valuation Update With 7 Day Price Move • Jul 12
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₪15.80, the stock trades at a trailing P/E ratio of 4.6x. Average trailing P/E is 11x in the Capital Markets industry in Israel. Total returns to shareholders of 108% over the past three years. Valuation Update With 7 Day Price Move • Apr 13
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ₪13.10, the stock trades at a trailing P/E ratio of 3.8x. Average trailing P/E is 9x in the Capital Markets industry in Israel. Total returns to shareholders of 108% over the past three years. Buying Opportunity • Mar 02
Now 25% undervalued after recent price drop Over the last 90 days, the stock is down 50%. The fair value is estimated to be ₪15.08, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 81% over the last 3 years. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • Jan 04
Investor sentiment improved over the past week After last week's 17% share price gain to ₪16.69, the stock trades at a trailing P/E ratio of 2.3x. Average trailing P/E is 8x in the Capital Markets industry in Israel. Total returns to shareholders of 149% over the past three years. Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₪17.75, the stock trades at a trailing P/E ratio of 2.4x. Average trailing P/E is 22x in the Online Retail industry in Asia. Total returns to shareholders of 173% over the past three years. Valuation Update With 7 Day Price Move • Nov 28
Investor sentiment improved over the past week After last week's 18% share price gain to ₪25.31, the stock trades at a trailing P/E ratio of 3.4x. Average trailing P/E is 22x in the Online Retail industry in Asia. Total returns to shareholders of 296% over the past three years. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 2 highly experienced directors. Independent External Director Ruth Berger was the last 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: Insufficient board refreshment. Reported Earnings • Sep 04
First half 2022 earnings released: EPS: ₪7.78 (vs ₪6.63 in 1H 2021) First half 2022 results: EPS: ₪7.78 (up from ₪6.63 in 1H 2021). Revenue: ₪91.1m (up 19% from 1H 2021). Net income: ₪65.5m (up 17% from 1H 2021). Profit margin: 72% (in line with 1H 2021). Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has only increased by 68% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 04
Investor sentiment improved over the past week After last week's 16% share price gain to ₪29.00, the stock trades at a trailing P/E ratio of 4.6x. Average trailing P/E is 20x in the Online Retail industry in Asia. Total returns to shareholders of 356% over the past three years. Valuation Update With 7 Day Price Move • May 30
Investor sentiment improved over the past week After last week's 15% share price gain to ₪20.33, the stock trades at a trailing P/E ratio of 3.3x. Average trailing P/E is 18x in the Online Retail industry in Asia. Total returns to shareholders of 213% over the past three years. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 2 highly experienced directors. Independent External Director Ruth Berger was the last 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: Insufficient board refreshment. Valuation Update With 7 Day Price Move • Feb 03
Investor sentiment improved over the past week After last week's 15% share price gain to ₪28.55, the stock trades at a trailing P/E ratio of 4x. Average trailing P/E is 21x in the Online Retail industry in Asia. Total returns to shareholders of 411% over the past three years. Valuation Update With 7 Day Price Move • Sep 02
Investor sentiment improved over the past week After last week's 17% share price gain to ₪18.70, the stock trades at a trailing P/E ratio of 18.5x. Average trailing P/E is 20x in the Online Retail industry in Asia. Total returns to shareholders of 129% over the past three years. Board Change • Sep 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 2 highly experienced directors. Independent External Director Ruth Berger was the last 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: Insufficient board refreshment. Valuation Update With 7 Day Price Move • Jul 07
Investor sentiment improved over the past week After last week's 20% share price gain to ₪14.20, the stock trades at a trailing P/E ratio of 14x. Average trailing P/E is 25x in the Online Retail industry in Asia. Total returns to shareholders of 101% over the past three years. Valuation Update With 7 Day Price Move • Mar 29
Investor sentiment improved over the past week After last week's 27% share price gain to ₪10.30, the stock trades at a trailing P/E ratio of 10.2x. Average trailing P/E is 27x in the Online Retail industry in Asia. Total returns to shareholders of 52% over the past three years. Valuation Update With 7 Day Price Move • Jan 14
Investor sentiment improved over the past week After last week's 15% share price gain to ₪9.05, the stock is trading at a trailing P/E ratio of 8.3x, up from the previous P/E ratio of 7.2x. This compares to an average P/E of 28x in the Online Retail industry in Asia. Total returns to shareholders over the past three years are 28%. Is New 90 Day High Low • Dec 30
New 90-day low: ₪7.29 The company is down 10.0% from its price of ₪8.12 on 01 October 2020. The Israeli market is up 25% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Online Retail industry, which is up 7.0% over the same period. Is New 90 Day High Low • Nov 26
New 90-day low: ₪7.51 The company is down 11% from its price of ₪8.45 on 27 August 2020. The Israeli market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Online Retail industry, which is up 7.0% over the same period. Is New 90 Day High Low • Oct 05
New 90-day high: ₪8.70 The company is up 12% from its price of ₪7.75 on 05 July 2020. The Israeli market is up 6.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Online Retail industry, which is up 23% over the same period.