New Risk • May 05
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: -€1.4m 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 Risks Negative equity (-€6.4m). Market cap is less than US$10m (€5.64m market cap, or US$6.60m). Minor Risks Less than 1 year of cash runway based on current free cash flow (-€1.4m). Share price has been volatile over the past 3 months (6.6% average weekly change). New Risk • May 02
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 Italian stocks, typically moving 6.6% 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 Negative equity (-€1.4m). Market cap is less than US$10m (€5.60m market cap, or US$6.56m). Minor Risk Share price has been volatile over the past 3 months (6.6% average weekly change). Announcement • Apr 16
Società Editoriale Il Fatto S.p.A., Annual General Meeting, Apr 30, 2026 Società Editoriale Il Fatto S.p.A., Annual General Meeting, Apr 30, 2026, at 15:00 W. Europe Standard Time. Reported Earnings • Apr 04
Full year 2025 earnings released Full year 2025 results: Revenue: €37.0m (up 4.8% from FY 2024). Net loss: €2.59m (loss widened 49% from FY 2024). Revenue is forecast to stay flat during the next 2 years compared to a 15% growth forecast for the Media industry in Italy. New Risk • Mar 29
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 Italian 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 Negative equity (-€5.4m). Market cap is less than US$10m (€5.78m market cap, or US$6.65m). Minor Risks Less than 1 year of cash runway based on current free cash flow (-€1.2m). Share price has been volatile over the past 3 months (6.1% average weekly change). Price Target Changed • Nov 21
Price target decreased by 24% to €0.39 Down from €0.52, the current price target is an average from 2 analysts. New target price is 39% above last closing price of €0.28. Stock is down 2.1% over the past year. The company is forecast to post a net loss per share of €0.06 next year compared to a net loss per share of €0.077 last year. Major Estimate Revision • Oct 02
Consensus EPS estimates fall from profit to €0.06 loss The consensus outlook for fiscal year 2025 has been updated. Forecast loss of -€0.06 per share in 2025, versus previous forecasts of €0.05 per share. Revenue forecast unchanged from €35.0m at last update. Media industry in Italy expected to see average net income growth of 51% next year. Consensus price target down from €0.52 to €0.48. Share price was steady at €0.34 over the past week. Price Target Changed • Oct 01
Price target decreased by 11% to €0.48 Down from €0.54, the current price target is an average from 2 analysts. New target price is 43% above last closing price of €0.34. Stock is up 14% over the past year. The company is forecast to post a net loss per share of €0.06 next year compared to a net loss per share of €0.077 last year. New Risk • May 23
New major risk - Negative shareholders equity The company has negative equity. Total equity: -€3.8m 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 Negative equity (-€3.8m). Market cap is less than US$10m (€6.45m market cap, or US$7.33m). Reported Earnings • Apr 01
Full year 2024 earnings released Full year 2024 results: Revenue: €35.8m (up 27% from FY 2023). Net loss: €1.73m (loss widened 145% from FY 2023). Revenue is forecast to grow 3.7% p.a. on average during the next 2 years, compared to a 1.7% growth forecast for the Media industry in Italy. New Risk • Feb 20
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 7.6% 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 Debt is not well covered by operating cash flow (12% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (7.6% average weekly change). Negative equity (-€3.2m). Market cap is less than US$10m (€7.61m market cap, or US$7.97m). New Risk • Jan 06
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 Italian stocks, typically moving 6.5% 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 Debt is not well covered by operating cash flow (12% operating cash flow to total debt). Negative equity (-€3.2m). Market cap is less than US$10m (€8.35m market cap, or US$8.68m). Minor Risk Share price has been volatile over the past 3 months (6.5% average weekly change). New Risk • Oct 02
New major risk - Negative shareholders equity The company has negative equity. Total equity: -€3.2m 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 Debt is not well covered by operating cash flow (12% operating cash flow to total debt). Negative equity (-€3.2m). Market cap is less than US$10m (€6.63m market cap, or US$7.34m). Price Target Changed • Oct 27
Price target increased by 24% to €0.58 Up from €0.47, the current price target is an average from 3 analysts. New target price is 100% above last closing price of €0.29. Stock is down 4.0% over the past year. The company is forecast to post a net loss per share of €0.009 compared to earnings per share of €0.11 last year. New Risk • Oct 11
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 231% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (8.3% average weekly change). Earnings are forecast to decline by an average of 19% per year for the foreseeable future. High level of non-cash earnings (231% accrual ratio). Market cap is less than US$10m (€8.17m market cap, or US$8.67m). Minor Risk Negative equity (-€792k). New Risk • Oct 05
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (8.9% average weekly change). Earnings are forecast to decline by an average of 19% per year for the foreseeable future. Market cap is less than US$10m (€7.67m market cap, or US$8.07m). Minor Risk Large one-off items impacting financial results. Reported Earnings • Oct 05
First half 2023 earnings released First half 2023 results: Revenue: €16.6m (down 3.4% from 1H 2022). Net loss: €1.12m (loss narrowed 41% from 1H 2022). Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 2.5% growth forecast for the Media industry in Italy. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. New Risk • Oct 02
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 17% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings are forecast to decline by an average of 17% per year for the foreseeable future. High level of non-cash earnings (70% accrual ratio). Market cap is less than US$10m (€7.58m market cap, or US$7.96m). Minor Risk Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). New Risk • Sep 17
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. 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 (11% average weekly change). High level of non-cash earnings (70% accrual ratio). Market cap is less than US$10m (€7.90m market cap, or US$8.42m). Minor Risk Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). New Risk • Sep 01
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. 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 (10% average weekly change). High level of non-cash earnings (70% accrual ratio). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Market cap is less than US$100m (€9.39m market cap, or US$10.1m). Board Change • Nov 16
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. 3 non-independent directors. Independent Director Giulia Schneider was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Buying Opportunity • Jun 02
Now 20% undervalued Over the last 90 days, the stock is up 2.3%. The fair value is estimated to be €0.56, 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 decline by 1.6% per annum. Earnings is forecast to grow by 51% per annum over the same time period. Buying Opportunity • May 10
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 11%. The fair value is estimated to be €0.58, 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 decline by 1.6% per annum. Earnings is forecast to grow by 51% per annum over the same time period. Board Change • Apr 27
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. 3 non-independent directors. Independent Director Giulia Schneider was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Buying Opportunity • Apr 23
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 7.6%. The fair value is estimated to be €0.58, 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 decline by 1.6% per annum. Earnings is forecast to grow by 51% per annum over the same time period. Price Target Changed • Apr 07
Price target decreased to €0.64 Down from €0.97, the current price target is provided by 1 analyst. New target price is 28% above last closing price of €0.50. Stock is down 11% over the past year. Reported Earnings • Apr 06
Full year 2021 earnings: Revenues miss analyst expectations Full year 2021 results: Revenue: €38.0m (up 1.4% from FY 2020). Net income: €168.8k (down 44% from FY 2020). Profit margin: 0.4% (down from 0.8% in FY 2020). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 100%. Over the next year, revenue is expected to shrink by 2.2% compared to a 5.4% growth forecast for the industry in Italy. Reported Earnings • Oct 03
First half 2021 earnings released The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: €20.1m (up 3.5% from 1H 2020). Net income: €503.9k (up €430.7k from 1H 2020). Profit margin: 2.5% (up from 0.4% in 1H 2020). The increase in margin was driven by higher revenue. Price Target Changed • Oct 01
Price target increased to €0.97 Up from €0.84, the current price target is provided by 1 analyst. New target price is 55% above last closing price of €0.63. Stock is up 29% over the past year. Price Target Changed • Aug 13
Price target increased to €0.88 Up from €0.80, the current price target is provided by 1 analyst. New target price is 31% above last closing price of €0.67. Stock is up 35% over the past year. Is New 90 Day High Low • Feb 15
New 90-day high: €0.50 The company is up 3.0% from its price of €0.49 on 18 November 2020. The Italian market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Media industry, which is up 9.0% over the same period. Is New 90 Day High Low • Jan 09
New 90-day low: €0.45 The company is down 8.0% from its price of €0.49 on 09 October 2020. The Italian market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Media industry, which is up 12% over the same period.