New Risk • Apr 16
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 21% 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 Share price has been highly volatile over the past 3 months (25% average weekly change). Negative equity (-₪5.7m). Minor Risks Shareholders have been diluted in the past year (21% increase in shares outstanding). Market cap is less than US$100m (₪207.4m market cap, or US$69.2m). Reported Earnings • Mar 29
Full year 2025 earnings released: ₪0.36 loss per share (vs ₪0.71 loss in FY 2024) Full year 2025 results: ₪0.36 loss per share (improved from ₪0.71 loss in FY 2024). Revenue: ₪22.2m (up 30% from FY 2024). Net loss: ₪4.61m (loss narrowed 47% from FY 2024). Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 36% per year, which means it is significantly lagging earnings growth. New Risk • Mar 16
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 Share price has been highly volatile over the past 3 months (17% average weekly change). Negative equity (-₪5.1m). Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Market cap is less than US$100m (₪123.9m market cap, or US$39.4m). New Risk • Feb 12
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 16% 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 (16% average weekly change). Negative equity (-₪5.1m). Minor Risk Market cap is less than US$100m (₪113.8m market cap, or US$37.1m). New Risk • Aug 21
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 Less than 1 year of cash runway based on free cash flow trend (-₪4.0m free cash flow). Share price has been highly volatile over the past 3 months (8.0% average weekly change). Negative equity (-₪8.5m). Earnings have declined by 8.2% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₪65.1m market cap, or US$19.0m). Announcement • Jul 21
Tondo Smart Ltd, Annual General Meeting, Aug 28, 2025 Tondo Smart Ltd, Annual General Meeting, Aug 28, 2025. Location: co. offices, Israel New Risk • Jul 06
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 Less than 1 year of cash runway based on free cash flow trend (-₪4.0m free cash flow). Share price has been highly volatile over the past 3 months (8.0% average weekly change). Negative equity (-₪8.5m). Earnings have declined by 8.2% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₪45.5m market cap, or US$13.6m). Reported Earnings • Apr 01
Full year 2024 earnings released: ₪0.71 loss per share (vs ₪0.67 loss in FY 2023) Full year 2024 results: ₪0.71 loss per share (further deteriorated from ₪0.67 loss in FY 2023). Revenue: ₪17.1m (down 15% from FY 2023). Net loss: ₪8.67m (loss widened 12% from FY 2023). Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. New Risk • Mar 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 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 Less than 1 year of cash runway based on free cash flow trend (-₪2.5m free cash flow). Share price has been highly volatile over the past 3 months (8.8% average weekly change). Negative equity (-₪4.4m). Earnings have declined by 14% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Market cap is less than US$100m (₪48.2m market cap, or US$13.2m). New Risk • Oct 01
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₪37.3m (US$9.91m) 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 (-₪2.5m free cash flow). Share price has been highly volatile over the past 3 months (8.4% average weekly change). Negative equity (-₪4.4m). Earnings have declined by 14% per year over the past 5 years. Market cap is less than US$10m (₪37.3m market cap, or US$9.91m). Minor Risks Shareholders have been diluted in the past year (9.2% increase in shares outstanding). Revenue is less than US$5m (₪18m revenue, or US$4.9m). Announcement • Aug 31
Tondo Smart Ltd, Annual General Meeting, Oct 06, 2024 Tondo Smart Ltd, Annual General Meeting, Oct 06, 2024. Location: co. offices, Israel New Risk • Aug 08
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 7.3% 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 Less than 1 year of cash runway based on free cash flow trend (-₪3.7m free cash flow). Share price has been highly volatile over the past 3 months (7.3% average weekly change). Negative equity (-₪3.3m). Earnings have declined by 27% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (9.2% increase in shares outstanding). Market cap is less than US$100m (₪43.4m market cap, or US$11.5m). New Risk • Jun 18
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 6.1% 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 Less than 1 year of cash runway based on free cash flow trend (-₪3.7m free cash flow). Negative equity (-₪3.3m). Earnings have declined by 27% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.1% average weekly change). Shareholders have been diluted in the past year (9.2% increase in shares outstanding). Market cap is less than US$100m (₪61.2m market cap, or US$16.5m). New Risk • Apr 21
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 9.2% 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 (-₪3.7m free cash flow). Negative equity (-₪3.3m). Earnings have declined by 27% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (9.2% increase in shares outstanding). Market cap is less than US$100m (₪60.9m market cap, or US$16.2m). Reported Earnings • Apr 02
Full year 2023 earnings released: EPS: ₪0.67 (vs ₪1.36 loss in FY 2022) Full year 2023 results: EPS: ₪0.67 (up from ₪1.36 loss in FY 2022). Revenue: ₪20.1m (up 126% from FY 2022). Net loss: ₪7.73m (loss narrowed 44% from FY 2022). New Risk • Mar 16
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 Less than 1 year of cash runway based on free cash flow trend (-₪10m free cash flow). Negative equity (-₪2.0m). Earnings have declined by 43% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Share price has been volatile over the past 3 months (6.1% average weekly change). Shareholders have been diluted in the past year (9.0% increase in shares outstanding). Revenue is less than US$5m (₪15m revenue, or US$4.1m). Market cap is less than US$100m (₪57.3m market cap, or US$15.6m). New Risk • Sep 23
New major risk - Revenue and earnings growth Earnings have declined by 43% 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 (-₪10m free cash flow). Share price has been highly volatile over the past 3 months (9.7% average weekly change). Negative equity (-₪2.0m). Earnings have declined by 43% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (9.0% increase in shares outstanding). Revenue is less than US$5m (₪15m revenue, or US$4.0m). Market cap is less than US$100m (₪89.0m market cap, or US$23.4m). New Risk • Jul 16
New major risk - Negative shareholders equity The company has negative equity. Total equity: -₪2.2m This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. 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 (-₪11m free cash flow). Share price has been highly volatile over the past 3 months (13% average weekly change). Negative equity (-₪2.2m). Minor Risks Shareholders have been diluted in the past year (9.0% increase in shares outstanding). Revenue is less than US$5m (₪8.9m revenue, or US$2.5m). Market cap is less than US$100m (₪65.0m market cap, or US$18.0m).