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: -€1.1m 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 (-€1.1m free cash flow). Share price has been highly volatile over the past 3 months (17% average weekly change). Shareholders have been substantially diluted in the past year (200% increase in shares outstanding). Minor Risk Market cap is less than US$100m (€10.1m market cap, or US$10.9m). New Risk • Mar 04
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 200% 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 Share price has been highly volatile over the past 3 months (16% average weekly change). Shareholders have been substantially diluted in the past year (200% increase in shares outstanding). Market cap is less than US$10m (€9.07m market cap, or US$9.56m). Minor Risk Currently unprofitable and not forecast to become profitable over next 3 years (€3.9m net loss in 3 years). Major Estimate Revision • Oct 16
Consensus revenue estimates fall by 41% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from €14.3m to €8.40m. Forecast losses increased from -€0.21 to -€0.34 per share. Auto industry in Italy expected to see average net income decline 7.6% next year. Consensus price target down from €0.28 to €0.20. Share price fell 2.4% to €0.18 over the past week. Reported Earnings • Oct 06
First half 2024 earnings released First half 2024 results: Revenue: €4.21m (down 32% from 1H 2023). Net loss: €5.85m (loss widened 315% from 1H 2023). Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Auto industry in Europe. Buy Or Sell Opportunity • Sep 06
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 29% to €0.21. The fair value is estimated to be €0.27, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 20% per annum. Earnings are also forecast to grow by 7.0% per annum over the same time period. Buy Or Sell Opportunity • Aug 03
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 39% to €0.21. The fair value is estimated to be €0.27, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 20% per annum. Earnings are also forecast to grow by 7.0% per annum over the same time period. Reported Earnings • Mar 31
Full year 2023 earnings released Full year 2023 results: Revenue: €10.6m (down 26% from FY 2022). Net loss: €1.95m (loss narrowed 8.0% from FY 2022). Revenue is forecast to grow 33% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Auto industry in Europe. New Risk • Oct 28
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €9.39m (US$9.92m) 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 Share price has been highly volatile over the past 3 months (8.4% average weekly change). Earnings are forecast to decline by an average of 3.4% per year for the foreseeable future. Market cap is less than US$10m (€9.39m market cap, or US$9.92m). Minor Risks Less than 1 year of cash runway based on current free cash flow (-€2.9m). Currently unprofitable and not forecast to become profitable over next 3 years (€2.4m net loss in 3 years). Major Estimate Revision • Oct 05
Consensus revenue estimates fall by 42% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from €18.6m to €10.8m. Forecast losses increased from -€0.05 to -€0.09 per share. Auto industry in Italy expected to see average net income growth of 12% next year. Consensus price target down from €0.64 to €0.43. Share price was steady at €0.40 over the past week. Reported Earnings • Sep 28
First half 2023 earnings released First half 2023 results: Revenue: €6.27m (down 26% from 1H 2022). Net loss: €1.41m (loss narrowed 27% from 1H 2022). Revenue is forecast to grow 32% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Auto industry in Europe. New Risk • Sep 25
New minor risk - Financial position The company has less than a year of cash runway based on its current free cash flow. Free cash flow: -€2.9m This is considered a minor 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 Risk Earnings are forecast to decline by an average of 17% per year for the foreseeable future. Minor Risks Less than 1 year of cash runway based on current free cash flow (-€2.9m). Currently unprofitable and not forecast to become profitable over next 3 years (€3.0m net loss in 3 years). Share price has been volatile over the past 3 months (6.1% average weekly change). Market cap is less than US$100m (€13.5m market cap, or US$14.4m). New Risk • Aug 01
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 Italian stocks, typically moving 6.6% 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 (6.6% average weekly change). Earnings are forecast to decline by an average of 11% per year for the foreseeable future. Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (€3.3m net loss in 3 years). Shareholders have been diluted in the past year (3.9% increase in shares outstanding). Market cap is less than US$100m (€15.1m market cap, or US$16.5m). Breakeven Date Change • Apr 03
No longer forecast to breakeven The analyst covering Askoll EVA no longer expects the company to break even during the foreseeable future. The company was expected to make a profit of €100.0k in 2025. New forecast suggests the company will make a loss of €3.30m in 2025. Breakeven Date Change • Jan 01
Forecast to breakeven in 2025 The analyst covering Askoll Eva expects the company to break even for the first time. New forecast suggests the company will make a profit of €100.0k in 2025. Average annual earnings growth of 53% is required to achieve expected profit on schedule. 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. 8 experienced directors. No highly experienced directors. 1 independent director (4 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: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Sep 25
First half 2022 earnings released: EPS: €0 (vs €0.12 loss in 1H 2021) First half 2022 results: EPS: €0 (improved from €0.12 loss in 1H 2021). Revenue: €8.51m (up 14% from 1H 2021). Net loss: €1.94m (loss narrowed 14% from 1H 2021). Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Auto industry in Europe. 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. 8 experienced directors. No highly experienced directors. 1 independent director (4 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: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Mar 28
Full year 2021 earnings released Full year 2021 results: Revenue: €19.0m (up 77% from FY 2020). Net loss: €3.37m (loss narrowed 57% from FY 2020). Over the next year, revenue is forecast to grow 5.5%, compared to a 10% growth forecast for the industry in Italy. Price Target Changed • Oct 16
Price target decreased to €1.16 Down from €1.38, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of €1.12. Stock is down 16% over the past year. Reported Earnings • Sep 28
First half 2021 earnings released: €0.12 loss per share (vs €0.30 loss in 1H 2020) The company reported a solid first half result with reduced losses, improved revenues and improved control over expenses. First half 2021 results: Revenue: €7.44m (up 144% from 1H 2020). Net loss: €2.26m (loss narrowed 54% from 1H 2020). Is New 90 Day High Low • Feb 24
New 90-day low: €1.18 The company is down 20% from its price of €1.46 on 25 November 2020. The Italian market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Auto industry, which is up 16% over the same period. Is New 90 Day High Low • Oct 26
New 90-day low: €1.13 The company is down 38% from its price of €1.82 on 28 July 2020. The Italian market is down 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Auto industry, which is up 20% over the same period. Is New 90 Day High Low • Oct 08
New 90-day low: €1.28 The company is down 28% from its price of €1.78 on 10 July 2020. The Italian market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Auto industry, which is up 23% over the same period. Announcement • Sep 25
Askoll Eva SpA announced that it expects to receive €3 million in funding from Negma Group Ltd. Askoll Eva SpA (BIT:EVA) announced that it has signed a private placement of 300 convertible bonds at a price of €10,000 per bond for gross proceeds of €3,000,000 with Negma Group Ltd. on March 18, 2020. The company will also issue warrants in the transaction. The transaction will take place in three tranches. The company will have an option to renew bond for another €2,000,000. Is New 90 Day High Low • Sep 22
New 90-day low: €1.48 The company is down 26% from its price of €2.00 on 24 June 2020. The Italian market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Auto industry, which is up 14% over the same period. Reported Earnings • Sep 21
First half earnings released Over the last 12 months the company has reported total losses of €11.0m, with losses widening by 38% from the prior year. Total revenue was €15.9m over the last 12 months, down 4.4% from the prior year.