Tillkännagivande • Nov 12
Cherrypick Games S.A. to Report Q3, 2025 Results on Nov 14, 2025 Cherrypick Games S.A. announced that they will report Q3, 2025 results on Nov 14, 2025 New Risk • Jul 24
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 German 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 Share price has been highly volatile over the past 3 months (14% average weekly change). Earnings have declined by 8.7% per year over the past 5 years. Revenue is less than US$1m (zł1.5m revenue, or US$413k). Market cap is less than US$10m (€3.90m market cap, or US$4.58m). 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 German stocks, typically moving 8.4% 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: Major Risks Earnings have declined by 8.7% per year over the past 5 years. Revenue is less than US$1m (zł1.5m revenue, or US$397k). Market cap is less than US$10m (€1.61m market cap, or US$1.83m). Minor Risk Share price has been volatile over the past 3 months (8.4% average weekly change). New Risk • May 30
New major risk - Revenue and earnings growth Earnings have declined by 11% 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 Earnings have declined by 11% per year over the past 5 years. Revenue is less than US$1m (zł1.5m revenue, or US$399k). Market cap is less than US$10m (€2.02m market cap, or US$2.29m). Reported Earnings • Feb 19
Full year 2024 earnings released: zł11.17 loss per share (vs zł2.62 profit in FY 2023) Full year 2024 results: zł11.17 loss per share (down from zł2.62 profit in FY 2023). Revenue: zł2.16m (down 66% from FY 2023). Net loss: zł15.2m (down zł18.7m from profit in FY 2023). Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. New Risk • Feb 11
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 German 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). Revenue is less than US$1m (zł2.9m revenue, or US$725k). Market cap is less than US$10m (€3.80m market cap, or US$3.93m). New Risk • Nov 21
New major risk - Revenue size The company makes less than US$1m in revenue. Total revenue: zł2.9m (US$705k) This is considered a major risk. Companies with a small amount of revenue 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 Risks Revenue is less than US$1m (zł2.9m revenue, or US$705k). Market cap is less than US$10m (€2.81m market cap, or US$2.95m). Minor Risk Share price has been volatile over the past 3 months (7.3% average weekly change). 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 German 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 Market cap is less than US$10m (€3.18m market cap, or US$3.54m). Minor Risks Share price has been volatile over the past 3 months (6.9% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (22% net profit margin). Revenue is less than US$5m (zł4.2m revenue, or US$1.1m). Valuation Update With 7 Day Price Move • Aug 20
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to €1.92, the stock trades at a trailing P/E ratio of 13.9x. Average trailing P/E is 15x in the Entertainment industry in Europe. Total loss to shareholders of 49% over the past three years. Reported Earnings • Aug 11
Second quarter 2024 earnings released: zł0.26 loss per share (vs zł1.03 profit in 2Q 2023) Second quarter 2024 results: zł0.26 loss per share (down from zł1.03 profit in 2Q 2023). Revenue: zł507.0k (down 76% from 2Q 2023). Net loss: zł372.0k (down 127% from profit in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 76% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. New Risk • Aug 11
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 27% 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 (€3.89m market cap, or US$4.24m). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (22% net profit margin). Revenue is less than US$5m (zł4.2m revenue, or US$1.1m). Reported Earnings • May 20
First quarter 2024 earnings released: EPS: zł0.03 (vs zł0.67 in 1Q 2023) First quarter 2024 results: EPS: zł0.03 (down from zł0.67 in 1Q 2023). Revenue: zł896.0k (down 35% from 1Q 2023). Net income: zł35.0k (down 96% from 1Q 2023). Profit margin: 3.9% (down from 67% in 1Q 2023). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Apr 25
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €3.22, the stock trades at a trailing P/E ratio of 6.1x. Average trailing P/E is 10x in the Entertainment industry in Germany. Total loss to shareholders of 55% over the past three years. Reported Earnings • Mar 08
Full year 2023 earnings released: EPS: zł2.62 (vs zł2.55 in FY 2022) Full year 2023 results: EPS: zł2.62 (up from zł2.55 in FY 2022). Revenue: zł6.27m (up 41% from FY 2022). Net income: zł3.56m (up 2.9% from FY 2022). Profit margin: 57% (down from 78% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has fallen by 29% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Feb 15
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €3.49, the stock trades at a trailing P/E ratio of 6.3x. Average trailing P/E is 20x in the Entertainment industry in Germany. Total loss to shareholders of 64% over the past three years. Valuation Update With 7 Day Price Move • Nov 14
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to €2.97, the stock trades at a trailing P/E ratio of 4.7x. Average trailing P/E is 27x in the Entertainment industry in Germany. Total loss to shareholders of 71% over the past three years. Valuation Update With 7 Day Price Move • Oct 27
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to €3.33, the stock trades at a trailing P/E ratio of 5.8x. Average trailing P/E is 24x in the Entertainment industry in Germany. Total loss to shareholders of 60% over the past three years. Valuation Update With 7 Day Price Move • Sep 12
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €3.16, the stock trades at a trailing P/E ratio of 5.3x. Average trailing P/E is 18x in the Entertainment industry in Germany. Total loss to shareholders of 63% over the past three years. New Risk • Aug 04
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 23% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (19% average weekly change). High level of non-cash earnings (23% accrual ratio). Market cap is less than US$10m (€6.96m market cap, or US$7.68m). Minor Risk Revenue is less than US$5m (zł7.2m revenue, or US$1.8m). Reported Earnings • Aug 04
Second quarter 2023 earnings released: EPS: zł1.03 (vs zł0.024 loss in 2Q 2022) Second quarter 2023 results: EPS: zł1.03 (up from zł0.024 loss in 2Q 2022). Revenue: zł2.11m (up 371% from 2Q 2022). Net income: zł1.40m (up zł1.43m from 2Q 2022). Profit margin: 66% (up from net loss in 2Q 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jul 20
Investor sentiment improves as stock rises 32% After last week's 32% share price gain to €4.99, the stock trades at a trailing P/E ratio of 9.6x. Average trailing P/E is 19x in the Entertainment industry in Germany. Total loss to shareholders of 50% over the past three years. Valuation Update With 7 Day Price Move • May 11
Investor sentiment improves as stock rises 48% After last week's 48% share price gain to €5.40, the stock trades at a trailing P/E ratio of 11.5x. Average trailing P/E is 17x in the Entertainment industry in Germany. Total loss to shareholders of 33% over the past three years. Valuation Update With 7 Day Price Move • Mar 31
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to €3.66, the stock trades at a trailing P/E ratio of 6.5x. Average trailing P/E is 37x in the Entertainment industry in Germany. Total loss to shareholders of 27% over the past three years. Reported Earnings • Aug 16
Second quarter 2022 earnings released: zł0.02 loss per share (vs zł0.51 profit in 2Q 2021) Second quarter 2022 results: zł0.02 loss per share (down from zł0.51 profit in 2Q 2021). Revenue: zł448.0k (up 68% from 2Q 2021). Net loss: zł32.0k (down 105% from profit in 2Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 59 percentage points per year, which is a significant difference in performance. Reported Earnings • May 19
First quarter 2022 earnings released: EPS: zł1.01 (vs zł0.52 loss in 1Q 2021) First quarter 2022 results: EPS: zł1.01 (up from zł0.52 loss in 1Q 2021). Net income: zł1.37m (up zł2.07m from 1Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 9 percentage points per year, which is a significant difference in performance. Tillkännagivande • Feb 22
Cherrypick Games S.A. (WSE:CHP) agreed to acquire 40% interest in PlayHolding from BoomBit S.A. (WSE:BBT) for PLN 0.003 million. Cherrypick Games S.A. (WSE:CHP) agreed to acquire 40% interest in PlayHolding from BoomBit S.A. (WSE:BBT) for PLN 0.003 million on February 21, 2022. Reported Earnings • Nov 12
Third quarter 2021 earnings released: zł2.50 loss per share (vs zł2.35 profit in 3Q 2020) Third quarter 2021 results: Net loss: zł3.40m (down 206% from profit in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has fallen by 52% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Oct 31
Investor sentiment deteriorated over the past week After last week's 15% share price decline to €3.33, the stock trades at a trailing P/E ratio of 13.9x. Average trailing P/E is 31x in the Entertainment industry in Germany. Total loss to shareholders of 90% over the past three years. Valuation Update With 7 Day Price Move • Oct 08
Investor sentiment deteriorated over the past week After last week's 17% share price decline to €3.10, the stock trades at a trailing P/E ratio of 12.8x. Average trailing P/E is 31x in the Entertainment industry in Germany. Total loss to shareholders of 91% over the past three years. Valuation Update With 7 Day Price Move • Aug 20
Investor sentiment deteriorated over the past week After last week's 16% share price decline to zł3.60, the stock trades at a trailing P/E ratio of 14.6x. Average trailing P/E is 28x in the Entertainment industry in Europe. Total loss to shareholders of 91% over the past three years. Reported Earnings • Aug 18
Second quarter 2021 earnings released: EPS zł0.51 (vs zł0.35 loss in 2Q 2020) Second quarter 2021 results: Net income: zł688.0k (up zł1.16m from 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has fallen by 52% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • May 05
Investor sentiment deteriorated over the past week After last week's 17% share price decline to zł6.26, the stock trades at a trailing P/E ratio of 33.4x. Average trailing P/E is 33x in the Entertainment industry in Europe. Total loss to shareholders of 13% over the past year. Valuation Update With 7 Day Price Move • Apr 06
Investor sentiment deteriorated over the past week After last week's 17% share price decline to zł7.28, the stock trades at a trailing P/E ratio of 37.2x. Average trailing P/E is 37x in the Entertainment industry in Europe. Total returns to shareholders of 47% over the past year. Is New 90 Day High Low • Mar 12
New 90-day low: €7.98 The company is down 14% from its price of €9.28 on 11 December 2020. The German market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Entertainment industry, which is up 14% over the same period. Is New 90 Day High Low • Dec 28
New 90-day low: €8.24 The company is down 4.0% from its price of €8.56 on 29 September 2020. The German market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Entertainment industry, which is up 20% over the same period. Is New 90 Day High Low • Oct 08
New 90-day high: €11.45 The company is up 11% from its price of €10.30 on 10 July 2020. The German market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Entertainment industry, which is up 9.0% over the same period.