Announcement • Feb 09
CreativeForge Games S.A. to Report Q4, 2025 Results on Feb 10, 2026 CreativeForge Games S.A. announced that they will report Q4, 2025 results on Feb 10, 2026 New Risk • Jan 19
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 Polish stocks, typically moving 9.6% 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 Less than 1 year of cash runway based on free cash flow trend (-zł744k free cash flow). Share price has been highly volatile over the past 3 months (9.6% average weekly change). Earnings have declined by 13% per year over the past 5 years. Revenue is less than US$1m (zł1.1m revenue, or US$292k). Market cap is less than US$10m (zł5.25m market cap, or US$1.44m). Announcement • Nov 10
CreativeForge Games S.A. to Report Q3, 2025 Results on Nov 12, 2025 CreativeForge Games S.A. announced that they will report Q3, 2025 results on Nov 12, 2025 New Risk • Jun 09
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 Polish stocks, typically moving 14% 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 (-zł503k free cash flow). Share price has been highly volatile over the past 3 months (14% average weekly change). Earnings have declined by 19% per year over the past 5 years. Revenue is less than US$1m (zł1.7m revenue, or US$454k). Market cap is less than US$10m (zł5.15m market cap, or US$1.38m). Reported Earnings • May 15
First quarter 2025 earnings released First quarter 2025 results: Revenue: zł285.4k (down 77% from 1Q 2024). Net loss: zł290.9k (down 416% from profit in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has fallen by 55% per year, which means it is significantly lagging earnings. New Risk • Aug 13
New major risk - Revenue and earnings growth Revenue has declined by 33% 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 33% over the past year. Revenue is less than US$1m (zł2.3m revenue, or US$592k). Market cap is less than US$10m (zł8.83m market cap, or US$2.25m). Minor Risk Share price has been volatile over the past 3 months (7.4% average weekly change). Reported Earnings • Aug 11
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: zł24.3m (up zł23.0m from 2Q 2022). Net loss: zł8.03m (loss widened zł7.75m from 2Q 2022). Announcement • Jun 05
CreativeForge Games S.A., Annual General Meeting, Jun 28, 2024 CreativeForge Games S.A., Annual General Meeting, Jun 28, 2024. New Risk • Mar 17
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended December 2022. This is considered a major 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. In the worst case scenario, it may be facing other major going concern issues jeopardizing its viability as a listed company. Currently, the following risks have been identified for the company: Major Risks Latest financial reports are more than 1 year old (reported December 2022 fiscal period end). Revenue is less than US$1m (zł3.5m revenue, or US$891k). Market cap is less than US$10m (zł24.1m market cap, or US$6.10m). Minor Risk Share price has been volatile over the past 3 months (9.0% average weekly change). New Risk • Jan 19
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 Polish stocks, typically moving 10% 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 (10% average weekly change). Revenue is less than US$1m (zł3.5m revenue, or US$877k). Market cap is less than US$10m (zł26.0m market cap, or US$6.48m). Minor Risk Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). New Risk • Oct 02
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 Earnings have declined by 5.8% per year over the past 5 years. Revenue is less than US$1m (zł3.5m revenue, or US$806k). Market cap is less than US$10m (zł27.7m market cap, or US$6.35m). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Share price has been volatile over the past 3 months (7.2% average weekly change). Announcement • Jun 02
CreativeForge Games S.A., Annual General Meeting, Jun 28, 2023 CreativeForge Games S.A., Annual General Meeting, Jun 28, 2023, at 15:00 Central European Standard Time. Reported Earnings • Mar 19
Full year 2022 earnings released Full year 2022 results: Revenue: zł3.52m (up 29% from FY 2021). Net loss: zł1.76m (loss narrowed 7.1% from FY 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 88 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 16
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: zł1.28m (up 406% from 2Q 2021). Net loss: zł280.4k (loss narrowed 22% from 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Reported Earnings • May 17
First quarter 2022 earnings released First quarter 2022 results: Revenue: zł462.5k (down 38% from 1Q 2021). Net loss: zł136.6k (loss narrowed 21% from 1Q 2021). Over the last 3 years on average, earnings per share has increased by 14% per year whereas the company’s share price has increased by 16% per year. Reported Earnings • Feb 12
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: zł0.21 loss per share (down from zł0.022 profit in FY 2020). Revenue: zł2.49m (flat on FY 2020). Net loss: zł548.5k (down zł606.7k from profit in FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Nov 12
Third quarter 2021 earnings released The company reported a decent third quarter result with improved revenues, although earnings and profit margins were weaker. Third quarter 2021 results: Revenue: zł1.08m (up 271% from 3Q 2020). Net income: zł286.3k (down 4.8% from 3Q 2020). Profit margin: 26% (down from 103% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has only increased by 45% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 11
Second quarter 2021 earnings released The company reported a poor second quarter result with weaker earnings, revenues and control over costs. Second quarter 2021 results: Revenue: zł253.9k (down 82% from 2Q 2020). Net loss: zł357.0k (down 169% from profit in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 108% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Reported Earnings • May 10
First quarter 2021 earnings released The company reported a solid first quarter result with improved revenues and control over costs, although losses increased. First quarter 2021 results: Revenue: zł745.7k (up 144% from 1Q 2020). Net loss: zł173.3k (loss widened 37% from 1Q 2020). Reported Earnings • Feb 11
Full year 2020 earnings released: EPS zł0.40 (vs zł0.062 loss in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: zł2.54m (down 23% from FY 2019). Net income: zł1.06m (up zł1.22m from FY 2019). Profit margin: 42% (up from net loss in FY 2019). Is New 90 Day High Low • Jan 07
New 90-day high: zł38.90 The company is up 35% from its price of zł28.80 on 09 October 2020. The Polish market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Entertainment industry, which is down 22% over the same period. Is New 90 Day High Low • Nov 26
New 90-day high: zł38.50 The company is up 4.0% from its price of zł37.00 on 28 August 2020. The Polish market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Entertainment industry, which is down 14% over the same period. Is New 90 Day High Low • Oct 30
New 90-day low: zł24.30 The company is down 35% from its price of zł37.40 on 31 July 2020. The Polish market is down 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Entertainment industry, which is down 9.0% over the same period. Is New 90 Day High Low • Oct 16
New 90-day low: zł26.50 The company is down 37% from its price of zł42.30 on 17 July 2020. The Polish market is down 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Entertainment industry, which is up 1.0% over the same period. Is New 90 Day High Low • Sep 25
New 90-day low: zł26.80 The company is down 29% from its price of zł37.50 on 26 June 2020. The Polish market is down 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Entertainment industry, which is flat over the same period.