New Risk • Apr 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 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 Risk Market cap is less than US$10m (€7.77m market cap, or US$9.17m). Minor Risk Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Buy Or Sell Opportunity • Apr 08
Now 20% undervalued The stock has been flat over the last 90 days, currently trading at €2.54. The fair value is estimated to be €3.18, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue is forecast to grow by 61% in 2 years. Earnings are forecast to grow by 70% in the next 2 years. New Risk • Oct 08
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €8.33m (US$9.69m) 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 Risk Market cap is less than US$10m (€8.33m market cap, or US$9.69m). Minor Risk Share price has been volatile over the past 3 months (7.1% average weekly change). Valuation Update With 7 Day Price Move • Jul 31
Investor sentiment improves as stock rises 30% After last week's 30% share price gain to €2.74, the stock trades at a trailing P/E ratio of 34.5x. Average forward P/E is 16x in the Tech industry in Europe. Total returns to shareholders of 8.7% over the past year. New Risk • Jun 02
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 833% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (€8.13m market cap, or US$9.30m). Minor Risks Share price has been volatile over the past 3 months (8.4% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • May 12
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to €1.97, the stock trades at a trailing P/E ratio of 24.8x. Average forward P/E is 10x in the Tech industry in Europe. Total loss to shareholders of 27% over the past year. New Risk • May 11
New major risk - Revenue and earnings growth Revenue has declined by 2.1% over the past year. 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 revenues are declining, then it is difficult for the company to prevent its earnings from declining as well. A trend of falling revenue 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 Revenue has declined by 2.1% over the past year. Market cap is less than US$10m (€7.28m market cap, or US$8.19m). Minor Risk Share price has been volatile over the past 3 months (7.9% average weekly change). Announcement • Apr 17
VNE S.p.A., Annual General Meeting, Apr 30, 2025 VNE S.p.A., Annual General Meeting, Apr 30, 2025, at 09:00 W. Europe Standard Time. New Risk • Apr 15
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 Risk Market cap is less than US$10m (€5.77m market cap, or US$6.51m). Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Shareholders have been diluted in the past year (19% increase in shares outstanding). New Risk • Jan 13
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 5.8% 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 Market cap is less than US$10m (€7.32m market cap, or US$7.48m). Minor Risks Share price has been volatile over the past 3 months (5.8% average weekly change). Shareholders have been diluted in the past year (19% increase in shares outstanding). New Risk • Oct 29
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €9.24m (US$10.00m) 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 Risk Market cap is less than US$10m (€9.24m market cap, or US$10.00m). Minor Risk Shareholders have been diluted in the past year (19% increase in shares outstanding). Reported Earnings • Apr 17
Full year 2023 earnings released Full year 2023 results: Revenue: €13.5m (up 6.2% from FY 2022). Net loss: €1.08m (loss widened 367% from FY 2022). Revenue is forecast to grow 32% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Tech industry in Italy. New Risk • Feb 16
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 5.8% 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 Market cap is less than US$10m (€8.83m market cap, or US$9.51m). Minor Risk Share price has been volatile over the past 3 months (5.8% average weekly change). New Risk • Jan 26
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €9.20m (US$9.97m) 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. This is currently the only risk that has been identified for the company. Announcement • Aug 02
VNE S.P.A. has completed an IPO in the amount of €3.100188 million. VNE S.P.A. has completed an IPO in the amount of €3.100188 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 759,850
Price\Range: €4.08
Transaction Features: Direct Listing; Regulation S