Buy Or Sell Opportunity • Apr 20
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 10% to €1.58. The fair value is estimated to be €2.01, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.4% over the last 3 years. Earnings per share has grown by 51%. Revenue is forecast to decline by 1.5% in a year. Earnings are forecast to grow by 100% in the next year. Major Estimate Revision • Mar 24
Consensus revenue estimates fall by 20% The consensus outlook for revenues in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from €18.1m to €14.5m. EPS estimate fell from €0.109 to €0.004 per share. Net income forecast to grow 100% next year vs 7.3% decline forecast for Real Estate industry in Italy. Consensus price target down from €3.60 to €2.50. Share price fell 2.6% to €1.52 over the past week. Reported Earnings • Mar 20
Full year 2025 earnings released Full year 2025 results: Revenue: €14.8m (down 9.2% from FY 2024). Net loss: €1.06m (loss narrowed 47% from FY 2024). Revenue is forecast to grow 17% p.a. on average during the next 2 years, while revenues in the Real Estate industry in Europe are expected to remain flat. New Risk • Feb 10
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 5.2% 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: Minor Risks Share price has been volatile over the past 3 months (5.2% average weekly change). Market cap is less than US$100m (€14.3m market cap, or US$17.0m). Buy Or Sell Opportunity • Sep 22
Now 26% overvalued after recent price rise Over the last 90 days, the stock has risen 97% to €2.62. The fair value is estimated to be €2.07, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue is forecast to grow by 13% in a year. Earnings are forecast to grow by 70% in the next year. Buy Or Sell Opportunity • Aug 25
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 56% to €2.50. The fair value is estimated to be €2.07, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue is forecast to grow by 13% in a year. Earnings are forecast to grow by 70% in the next year. Reported Earnings • Jun 25
Full year 2024 earnings released Full year 2024 results: Revenue: €16.4m (up 10.0% from FY 2023). Net loss: €1.99m (loss narrowed 74% from FY 2023). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Real Estate industry in Europe. Buy Or Sell Opportunity • May 23
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 9.1% to €1.60. The fair value is estimated to be €2.02, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to grow by 9.8% in a year. Earnings are forecast to grow by 58% in the next year. New Risk • May 21
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 7.2% 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: Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Share price has been volatile over the past 3 months (7.2% average weekly change). Market cap is less than US$100m (€12.7m market cap, or US$14.3m). Buy Or Sell Opportunity • Apr 24
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 13% to €1.55. The fair value is estimated to be €2.00, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to grow by 9.8% in a year. Earnings are forecast to grow by 58% in the next year. New Risk • Apr 14
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: Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Share price has been volatile over the past 3 months (6.5% average weekly change). Market cap is less than US$100m (€14.0m market cap, or US$15.9m). Buy Or Sell Opportunity • Apr 09
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 21% to €1.57. The fair value is estimated to be €2.00, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to grow by 9.8% in a year. Earnings are forecast to grow by 58% in the next year. New Risk • Aug 20
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 5.4% 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: Minor Risks Less than 1 year of cash runway based on current free cash flow (-€4.8m). Share price has been volatile over the past 3 months (5.4% average weekly change). Market cap is less than US$100m (€17.0m market cap, or US$18.9m). Buy Or Sell Opportunity • Apr 30
Now 22% overvalued Over the last 90 days, the stock has fallen 13% to €2.70. The fair value is estimated to be €2.22, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue is forecast to grow by 39% in 2 years. Earnings are forecast to grow by 97% in the next 2 years. Buy Or Sell Opportunity • Apr 05
Now 22% overvalued Over the last 90 days, the stock has fallen 11% to €2.68. The fair value is estimated to be €2.20, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue is forecast to grow by 39% in 2 years. Earnings are forecast to grow by 97% in the next 2 years. Reported Earnings • Mar 28
Full year 2023 earnings released Full year 2023 results: Revenue: €15.1m (up 9.0% from FY 2022). Net loss: €7.70m (loss narrowed 1.2% from FY 2022). Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 1.4% decline forecast for the Real Estate industry in Europe. New Risk • Mar 27
New major risk - Revenue and earnings growth Earnings have declined by 80% 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 Share price has been highly volatile over the past 3 months (8.0% average weekly change). Earnings have declined by 80% per year over the past 5 years. Minor Risks Less than 1 year of cash runway based on current free cash flow (-€7.5m). Market cap is less than US$100m (€21.7m market cap, or US$23.5m). New Risk • Nov 07
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 5.2% 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: Minor Risks Less than 1 year of cash runway based on current free cash flow (-€7.5m). Currently unprofitable and not forecast to become profitable over next 2 years (€1.7m net loss in 2 years). Share price has been volatile over the past 3 months (5.2% average weekly change). Market cap is less than US$100m (€14.8m market cap, or US$15.8m). Major Estimate Revision • Sep 27
Consensus revenue estimates decrease by 15%, EPS upgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from €16.9m to €14.3m. EPS estimate increased from -€0.90 to -€0.805 per share. Real Estate industry in Italy expected to see average net income decline 4.8% next year. Consensus price target down from €10.00 to €5.80. Share price fell 4.0% to €3.34 over the past week. Reported Earnings • Sep 26
First half 2023 earnings released First half 2023 results: Revenue: €6.90m (flat on 1H 2022). Net loss: €4.33m (loss widened 117% from 1H 2022). Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 1.9% decline forecast for the Real Estate industry in Europe. New Risk • Sep 23
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: -€9.4m 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: Minor Risks Less than 1 year of cash runway based on current free cash flow (-€9.4m). Currently unprofitable and not forecast to become profitable over next 2 years (€1.7m net loss in 2 years). Market cap is less than US$100m (€29.8m market cap, or US$31.7m). Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Director Mirja D’Asero 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. Reported Earnings • Oct 03
First half 2022 earnings released: EPS: €0 (vs €0 in 1H 2021) First half 2022 results: EPS: €0 (in line with 1H 2021). Revenue: €7.00m (up 24% from 1H 2021). Net loss: €1.99m (down €2.47m from profit in 1H 2021). Announcement • May 29
Tecma Solutions S.p.A. announced that it expects to receive €4.999993 million in funding Tecma Solutions S.p.A. announced a private placement of up to 526,315 new ordinary shares at a price of not less than €9.50 per share for gross proceeds of €4,999,992.5 on ay 27, 2022. The transaction will include participation from qualified investors. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Director Mirja D’Asero 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. Reported Earnings • Apr 15
Full year 2021 earnings released Full year 2021 results: Revenue: €13.2m (up 64% from FY 2020). Net loss: €429.1k (down 154% from profit in FY 2020). Is New 90 Day High Low • Mar 16
New 90-day high: €7.20 The company is up 24% from a price of €5.82 on 16 December 2020. Outperformed the Italian market which is up 10.0% over the last 90 days. Exceeded the Real Estate industry, which is up 14% over the same period. Is New 90 Day High Low • Feb 10
New 90-day high: €6.80 The company is up 34% from its price of €5.09 on 11 November 2020. The Italian market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 6.0% over the same period.