New Risk • Apr 23
New major risk - Negative shareholders equity The company has negative equity. Total equity: -zł5.7m 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 (-zł5.7m). Earnings have declined by 20% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.3% average weekly change). Shareholders have been diluted in the past year (27% increase in shares outstanding). New Risk • Apr 06
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 27% 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 Earnings have declined by 23% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.7% average weekly change). Shareholders have been diluted in the past year (27% increase in shares outstanding). Announcement • Feb 13
DataWalk S.A. has filed a Follow-on Equity Offering in the amount of PLN 0.075 million. DataWalk S.A. has filed a Follow-on Equity Offering in the amount of PLN 0.075 million.
Security Name: Series T Shares
Security Type: Common Stock
Securities Offered: 750,000
Price\Range: PLN 0.1
Transaction Features: Regulation S; Subsequent Direct Listing New Risk • Dec 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 Polish 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: Major Risk Earnings have declined by 23% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (7.2% average weekly change). Reported Earnings • Nov 18
Third quarter 2025 earnings released: EPS: zł0.082 (vs zł1.15 in 3Q 2024) Third quarter 2025 results: EPS: zł0.082 (down from zł1.15 in 3Q 2024). Net income: zł524.0k (down 92% from 3Q 2024). Revenue is forecast to grow 44% p.a. on average during the next 2 years, compared to a 9.1% growth forecast for the Software industry in Poland. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Nov 11
DataWalk S.A. to Report Q3, 2025 Results on Nov 13, 2025 DataWalk S.A. announced that they will report Q3, 2025 results on Nov 13, 2025 Announcement • Aug 20
DataWalk S.A. to Report First Half, 2025 Results on Aug 28, 2025 DataWalk S.A. announced that they will report first half, 2025 results on Aug 28, 2025 New Risk • Jul 22
New major risk - Negative shareholders equity The company has negative equity. Total equity: -zł4.7m 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 Less than 1 year of cash runway based on free cash flow trend (-zł21m free cash flow). Negative equity (-zł4.7m). Earnings have declined by 28% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (8.3% average weekly change). Reported Earnings • May 30
First quarter 2025 earnings released: zł0.097 loss per share (vs zł3.88 loss in 1Q 2024) First quarter 2025 results: zł0.097 loss per share (improved from zł3.88 loss in 1Q 2024). Revenue: zł13.5m (up 109% from 1Q 2024). Net loss: zł545.0k (loss narrowed 97% from 1Q 2024). Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 04
Full year 2024 earnings released: zł9.05 loss per share (vs zł5.48 loss in FY 2023) Full year 2024 results: zł9.05 loss per share (further deteriorated from zł5.48 loss in FY 2023). Revenue: zł24.6m (down 4.4% from FY 2023). Net loss: zł49.0m (loss widened 74% from FY 2023). Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 29% per year, which means it is significantly lagging earnings. New Risk • Nov 25
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: -zł27m 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 (-zł27m free cash flow). Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 37% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (9.7% increase in shares outstanding). Market cap is less than US$100m (zł231.5m market cap, or US$55.6m). New Risk • Nov 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 Polish stocks, typically moving 11% 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 (11% average weekly change). Earnings have declined by 37% per year over the past 5 years. Minor Risks Less than 1 year of cash runway based on current free cash flow (-zł32m). Shareholders have been diluted in the past year (9.7% increase in shares outstanding). Market cap is less than US$100m (zł259.7m market cap, or US$63.5m). Reported Earnings • Nov 18
Third quarter 2024 earnings released: EPS: zł1.15 (vs zł1.59 loss in 3Q 2023) Third quarter 2024 results: EPS: zł1.15 (up from zł1.59 loss in 3Q 2023). Revenue: zł4.63m (up 1.5% from 3Q 2023). Net income: zł6.46m (up zł14.6m from 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has fallen by 47% per year, which means it is performing significantly worse than earnings. New Risk • Jun 23
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 9.7% 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 Risks Less than 1 year of cash runway based on free cash flow trend (-zł42m free cash flow). Share price has been highly volatile over the past 3 months (10% average weekly change). Negative equity (-zł7.1m). Earnings have declined by 44% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (9.7% increase in shares outstanding). Market cap is less than US$100m (zł363.3m market cap, or US$89.8m). Announcement • May 31
DataWalk S.A., Annual General Meeting, Jun 28, 2024 DataWalk S.A., Annual General Meeting, Jun 28, 2024. New Risk • May 19
New major risk - Negative shareholders equity The company has negative equity. Total equity: -zł7.1m 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 Less than 1 year of cash runway based on free cash flow trend (-zł42m free cash flow). Share price has been highly volatile over the past 3 months (11% average weekly change). Negative equity (-zł7.1m). Earnings have declined by 44% per year over the past 5 years. Minor Risk Market cap is less than US$100m (zł305.9m market cap, or US$78.1m). Reported Earnings • Apr 12
Full year 2023 earnings released Full year 2023 results: Revenue: zł25.8m (down 23% from FY 2022). Net loss: zł28.1m (loss narrowed 76% from FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 49 percentage points per year, which is a significant difference in performance. New Risk • Dec 09
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: -zł45m 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 (-zł45m free cash flow). Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 48% per year over the past 5 years. Minor Risk Market cap is less than US$100m (zł166.8m market cap, or US$41.4m). Reported Earnings • Nov 17
Third quarter 2023 earnings released: zł1.59 loss per share (vs zł4.06 loss in 3Q 2022) Third quarter 2023 results: zł1.59 loss per share (improved from zł4.06 loss in 3Q 2022). Revenue: zł4.56m (down 41% from 3Q 2022). Net loss: zł8.16m (loss narrowed 60% from 3Q 2022). Revenue is forecast to grow 49% p.a. on average during the next 3 years, compared to a 9.5% growth forecast for the Software industry in Poland. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 30 percentage points per year, which is a significant difference in performance. New Risk • Sep 22
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: -zł43m 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 Share price has been highly volatile over the past 3 months (13% average weekly change). Earnings have declined by 49% per year over the past 5 years. Minor Risks Less than 1 year of cash runway based on current free cash flow (-zł43m). Market cap is less than US$100m (zł275.6m market cap, or US$63.7m). New Risk • Jul 06
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 13% 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 (13% average weekly change). Earnings have declined by 48% per year over the past 5 years. Minor Risk Shareholders have been diluted in the past year (5.1% increase in shares outstanding). Announcement • May 31
DataWalk S.A., Annual General Meeting, Jun 27, 2023 DataWalk S.A., Annual General Meeting, Jun 27, 2023, at 12:00 Central European Standard Time. Reported Earnings • Apr 15
Full year 2022 earnings released Full year 2022 results: Revenue: zł33.4m (up 8.3% from FY 2021). Net loss: zł116.7m (loss widened zł115.1m from FY 2021). Revenue is forecast to grow 35% p.a. on average during the next 3 years, compared to a 8.8% growth forecast for the Software industry in Poland. Reported Earnings • Nov 24
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: zł7.68m (up 31% from 3Q 2021). Net loss: zł20.2m (loss widened zł17.3m from 3Q 2021). Revenue is forecast to grow 60% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Software industry in Poland. Reported Earnings • Sep 17
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: zł14.0m (up 32% from 2Q 2021). Net loss: zł70.5m (down zł73.5m from profit in 2Q 2021). Revenue is forecast to grow 56% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Software industry in Poland. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has only increased by 51% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 30
Third quarter 2021 earnings: Revenues in line with analyst expectations Third quarter 2021 results: Revenue: zł5.87m (up 54% from 3Q 2020). Net loss: zł2.91m (loss widened 70% from 3Q 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has increased by 98% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Oct 03
Second quarter 2021 earnings released: EPS zł0.63 (vs zł0.22 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: zł10.6m (up 176% from 2Q 2020). Net income: zł3.08m (up zł4.05m from 2Q 2020). Profit margin: 29% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has increased by 104% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Dec 03
Third quarter 2020 earnings released: zł0.38 loss per share The company reported a solid third quarter result with reduced losses and improved revenues and control over expenses. Third quarter 2020 results: Revenue: zł3.82m (up 243% from 3Q 2019). Net loss: zł1.71m (loss narrowed 49% from 3Q 2019). Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has increased by 77% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 14
DataWalk S.A. announced that it has received PLN 65.1708 million in funding DataWalk S.A. (WSE:DAT) announced that it issued 421,000 Series O ordinary shares at a price of PLN 154.8 per share for the gross proceeds of PLN 65,170,800 on October 13, 2020. The company has signed a subscription agreement with 35 institutional investors. Reported Earnings • Oct 01
First half earnings released Over the last 12 months the company has reported total losses of zł8.43m, with losses narrowing by 39% from the prior year. Total revenue was zł7.87m over the last 12 months, up 417% from the prior year. Announcement • Sep 29
DataWalk S.A. announced that it expects to receive PLN 65.1708 million in funding DataWalk S.A. (WSE:DAT) announced a private placement of no more than 421,000 O shares at a price of PLN 154.8 per share for gross proceeds of PLN 65,170,800 on September 28, 2020. The company intends to increase the share capital by not more than PLN 42,100. 
