New Risk • Jun 09
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 Polish stocks, typically moving 8.3% 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 Less than 1 year of cash runway based on free cash flow trend (-zł16m free cash flow). Revenue is less than US$1m (zł105k revenue, or US$29k). Minor Risks Latest financial reports are more than 6 months old (reported September 2025 fiscal period end). Share price has been volatile over the past 3 months (8.3% average weekly change). Shareholders have been diluted in the past year (17% increase in shares outstanding). Market cap is less than US$100m (zł140.7m market cap, or US$38.3m). New Risk • Jun 01
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 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 Risks Less than 1 year of cash runway based on free cash flow trend (-zł16m free cash flow). Revenue is less than US$1m (zł105k revenue, or US$29k). Minor Risks Latest financial reports are more than 6 months old (reported September 2025 fiscal period end). Shareholders have been diluted in the past year (17% increase in shares outstanding). Market cap is less than US$100m (zł182.5m market cap, or US$50.3m). Announcement • May 14
One More Level S.A., Annual General Meeting, Jun 08, 2026 One More Level S.A., Annual General Meeting, Jun 08, 2026, at 15:30 Central European Standard Time. New Risk • Nov 18
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: -zł16m 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 (-zł16m free cash flow). Share price has been highly volatile over the past 3 months (9.5% average weekly change). Revenue is less than US$1m (zł105k revenue, or US$29k). Minor Risks Shareholders have been diluted in the past year (17% increase in shares outstanding). Market cap is less than US$100m (zł153.0m market cap, or US$41.8m). Reported Earnings • Nov 18
Third quarter 2025 earnings released Third quarter 2025 results: Net loss: zł2.03m (down 129% from profit in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Announcement • Nov 11
One More Level S.A. to Report Q3, 2025 Results on Nov 13, 2025 One More Level S.A. announced that they will report Q3, 2025 results on Nov 13, 2025 New Risk • Oct 01
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 17% This is considered a minor 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 Risk High level of non-cash earnings (140% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (8.6% average weekly change). Shareholders have been diluted in the past year (17% increase in shares outstanding). Revenue is less than US$5m (zł8.9m revenue, or US$2.5m). Market cap is less than US$100m (zł175.2m market cap, or US$48.3m). New Risk • Aug 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 Polish stocks, typically moving 6.9% 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 High level of non-cash earnings (140% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (6.9% average weekly change). Revenue is less than US$5m (zł8.9m revenue, or US$2.4m). Market cap is less than US$100m (zł119.8m market cap, or US$32.7m). Reported Earnings • Aug 19
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: zł2.4k (down 100% from 2Q 2024). Net loss: zł1.21m (loss widened 135% from 2Q 2024). Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to zł1.71, the stock trades at a trailing P/E ratio of 13.3x. Average trailing P/E is 14x in the Entertainment industry in Poland. Total loss to shareholders of 26% over the past three years. Valuation Update With 7 Day Price Move • Jun 30
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to zł1.49, the stock trades at a trailing P/E ratio of 11.6x. Average trailing P/E is 16x in the Entertainment industry in Poland. Total returns to shareholders of 30% over the past three years. Reported Earnings • May 18
First quarter 2025 earnings released: zł0.022 loss per share (vs zł0.077 profit in 1Q 2024) First quarter 2025 results: zł0.022 loss per share (down from zł0.077 profit in 1Q 2024). Revenue: zł2.3k (down 100% from 1Q 2024). Net loss: zł1.25m (down 131% from profit in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 24% per year, which means it is significantly lagging earnings. Announcement • Apr 07
One More Level S.A., Annual General Meeting, May 07, 2025 One More Level S.A., Annual General Meeting, May 07, 2025. Buy Or Sell Opportunity • Mar 02
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 5.0% to zł1.40. The fair value is estimated to be zł1.16, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 50% over the last 3 years. Earnings per share has declined by 59%. New Risk • Feb 28
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 (8.9% average weekly change). Market cap is less than US$100m (zł78.4m market cap, or US$19.7m). New Risk • Feb 12
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 Polish stocks, typically moving 5.6% 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: Minor Risks Share price has been volatile over the past 3 months (5.6% average weekly change). Market cap is less than US$100m (zł72.3m market cap, or US$18.0m). Buy Or Sell Opportunity • Feb 12
Now 33% overvalued after recent price rise Over the last 90 days, the stock has risen 13% to zł1.54. The fair value is estimated to be zł1.16, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 50% over the last 3 years. Earnings per share has declined by 59%. New Risk • Sep 18
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 Polish stocks, typically moving 7.5% 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: Minor Risks Share price has been volatile over the past 3 months (7.5% average weekly change). Market cap is less than US$100m (zł93.8m market cap, or US$24.4m). Buy Or Sell Opportunity • Aug 29
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 29% to zł1.62. The fair value is estimated to be zł1.32, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 50% over the last 3 years. Earnings per share has declined by 59%. New Risk • May 20
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: -zł4.2m 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 (-zł4.2m free cash flow). Earnings have declined by 3.9% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (5.6% increase in shares outstanding). Market cap is less than US$100m (zł75.2m market cap, or US$19.2m). Reported Earnings • May 20
First quarter 2024 earnings released First quarter 2024 results: Revenue: zł10.7m (up zł10.7m from 1Q 2023). Net income: zł4.10m (up zł6.47m from 1Q 2023). Profit margin: 38% (up from net loss in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 39% per year whereas the company’s share price has fallen by 38% per year. Reported Earnings • Mar 20
Full year 2023 earnings released Full year 2023 results: Revenue: zł22.8m (up 220% from FY 2022). Net loss: zł12.6m (loss widened zł10.8m from FY 2022). Reported Earnings • Nov 17
Third quarter 2023 earnings released Third quarter 2023 results: Net loss: zł2.51m (loss widened 79% from 3Q 2022). New Risk • Oct 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 Polish stocks, typically moving 7.3% 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 Earnings have declined by 0.4% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.3% average weekly change). Shareholders have been diluted in the past year (5.6% increase in shares outstanding). Revenue is less than US$5m (zł5.8m revenue, or US$1.4m). Market cap is less than US$100m (zł145.2m market cap, or US$34.4m). Reported Earnings • Aug 17
Second quarter 2023 earnings released Second quarter 2023 results: Net loss: zł3.84m (loss widened zł3.36m from 2Q 2022). New Risk • Jul 03
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 9.1% 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 (9.1% average weekly change). Earnings have declined by 0.6% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (5.6% increase in shares outstanding). Revenue is less than US$5m (zł7.0m revenue, or US$1.7m). Market cap is less than US$100m (zł183.7m market cap, or US$45.1m). Announcement • Jun 13
One More Level S.A., Annual General Meeting, Jun 30, 2023 One More Level S.A., Annual General Meeting, Jun 30, 2023, at 14:00 Central European Standard Time. Valuation Update With 7 Day Price Move • Aug 03
Investor sentiment improved over the past week After last week's 25% share price gain to zł1.85, the stock trades at a trailing P/E ratio of 27.4x. Average trailing P/E is 15x in the Entertainment industry in Poland. Total returns to shareholders of 85% over the past three years. Valuation Update With 7 Day Price Move • Jul 20
Investor sentiment improved over the past week After last week's 24% share price gain to zł1.48, the stock trades at a trailing P/E ratio of 21.9x. Average trailing P/E is 14x in the Entertainment industry in Poland. Total returns to shareholders of 50% over the past three years. Valuation Update With 7 Day Price Move • Jul 01
Investor sentiment improved over the past week After last week's 37% share price gain to zł1.18, the stock trades at a trailing P/E ratio of 17.5x. Average trailing P/E is 13x in the Entertainment industry in Poland. Total returns to shareholders of 46% over the past three years. Valuation Update With 7 Day Price Move • Jun 16
Investor sentiment deteriorated over the past week After last week's 18% share price decline to zł2.24, the stock trades at a trailing P/E ratio of 33.2x. Average trailing P/E is 13x in the Entertainment industry in Poland. Total returns to shareholders of 225% over the past three years. Valuation Update With 7 Day Price Move • May 25
Investor sentiment improved over the past week After last week's 15% share price gain to zł3.00, the stock trades at a trailing P/E ratio of 44.5x. Average trailing P/E is 15x in the Entertainment industry in Poland. Total returns to shareholders of 280% over the past three years. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment deteriorated over the past week After last week's 17% share price decline to zł3.60, the stock trades at a trailing P/E ratio of 49.8x. Average trailing P/E is 16x in the Entertainment industry in Poland. Total returns to shareholders of 84% over the past three years. Reported Earnings • May 23
First quarter 2021 earnings released First quarter 2021 results: Net loss: zł1.06m (loss widened 118% from 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 164 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Feb 19
New 90-day low: zł7.40 The company is down 37% from its price of zł11.75 on 20 November 2020. The Polish market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Entertainment industry, which is down 18% over the same period. Reported Earnings • Feb 17
Full year 2020 earnings released: zł0.16 loss per share (vs zł0.11 loss in FY 2019) Full year 2020 results: Net loss: zł8.38m (loss widened 41% from FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 221 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Jan 28
New 90-day low: zł7.60 The company is down 9.0% from its price of zł8.32 on 30 October 2020. The Polish market is up 22% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Entertainment industry, which is down 8.0% over the same period. Is New 90 Day High Low • Dec 21
New 90-day low: zł8.30 The company is down 25% from its price of zł11.00 on 22 September 2020. The Polish market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Entertainment industry, which is down 21% over the same period. Is New 90 Day High Low • Oct 26
New 90-day high: zł18.15 The company is up 152% from its price of zł7.20 on 28 July 2020. The Polish market is down 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Entertainment industry, which is down 8.0% over the same period. Is New 90 Day High Low • Oct 05
New 90-day high: zł14.30 The company is up 59% from its price of zł9.00 on 07 July 2020. The Polish market is down 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Entertainment industry, which is down 3.0% over the same period.