New Risk • Jun 19
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €8.02m (US$9.19m) 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 (€8.02m market cap, or US$9.19m). Minor Risk Currently unprofitable and not forecast to become profitable over next 2 years (€3.0m net loss in 2 years). Tillkännagivande • Apr 10
Cherry SE Launches Cherry XTRFY Launches K5 Pro TMR Compact Keyboard Cherry SE announced that Cherry XTRFY’s popular K5 keyboard was taken to a new level. This gaming keyboard, featuring CHERRY MK Crystal Magnetic switches and TMR sensing technology, combines precise input and ultra-fast response times with a compact, stylish design. The key component of CHERRY XTRFY‘s new gaming keyboard is Tunnel Magnetoresistance (TMR) technology, considered the next evolutionary step in magnetic switches. Compared to Hall Effect sensing, TMR delivers even greater precision by capturing extremely small changes in the magnetic field, enabling accuracy down to 0.01 mm. For gamers, this technology translates to noticeably higher sensitivity and shorter response times. Paired with CHERRY MagCrate software, it also enables complete control over every keystroke, including fine-tuning actuation points and assigning multiple functions to a single key based on how far or how long it’s pressed. The K5 Pro TMR Compact boasts an 8000 Hz polling rate, transmitting signals to the computer up to eight times per millisecond. Combined with TMR, which detects keystrokes without mechanical contact, the keyboard delivers maximum sensitivity, stable signals, and minimal latency. ARGB LED strip lighting elevates the setup with a dynamic spectrum of colors, enhancing the K5 Pro TMR’s sleek design. Advanced features further refine the experience: with hot-swap support, switches can be easily replaced with other magnetic options, while the keyboard's construction ensures a premium typing experience. A high-quality metal plate construction, combined with multi-layer damping and pre-lubricated, PCB-mounted stabilizers, guarantees smooth, vibration-free, and acoustically clear feedback. The compact 65% layout also provides the necessary freedom for wide mouse movements and ensures a clean, ergonomic setup. High-quality materials and a stylish design complete the package. Combined with ultra-fast TMR performance, the K5 Pro TMR is the ultimate tool for ambitious gamers who demand uncompromising precision, speed, and comfort. The CHERRY XTRFY K5 Pro TMR Compact is available now at a recommended retail price of EUR 149.99. Price Target Changed • Feb 13
Price target decreased by 30% to €0.70 Down from €1.00, the current price target is provided by 1 analyst. New target price is 28% above last closing price of €0.55. Stock is down 40% over the past year. The company is forecast to post a net loss per share of €0.82 next year compared to a net loss per share of €1.96 last year. Reported Earnings • Nov 14
Third quarter 2025 earnings released: €0.26 loss per share (vs €0.31 loss in 3Q 2024) Third quarter 2025 results: €0.26 loss per share (improved from €0.31 loss in 3Q 2024). Revenue: €24.7m (up 8.9% from 3Q 2024). Net loss: €5.95m (loss narrowed 17% from 3Q 2024). Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Tech industry in Europe. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has fallen by 56% per year, which means it is performing significantly worse than earnings. Major Estimate Revision • Nov 06
Consensus EPS estimates fall by 56% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from €104.1m to €98.4m. Losses expected to increase from €0.30 per share to €0.47. Tech industry in Germany expected to see average net income growth of 65% next year. Consensus price target down from €1.00 to €0.70. Share price was steady at €0.59 over the past week. Major Estimate Revision • Aug 08
Consensus EPS estimates upgraded to €0.07 loss, revenue downgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast fell from €109.1m to €104.1m. 2025 losses expected to reduce from -€0.295 to -€0.07 per share. Tech industry in Germany expected to see average net income growth of 47% next year. Consensus price target of €1.00 unchanged from last update. Share price was steady at €0.77 over the past week. New Risk • Aug 05
New major risk - Revenue and earnings growth Earnings have declined by 62% 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 Risk Earnings have declined by 62% per year over the past 5 years. Minor Risks Less than 1 year of cash runway based on current free cash flow (-€11m). Currently unprofitable and not forecast to become profitable next year (€22m net loss next year). Share price has been volatile over the past 3 months (8.8% average weekly change). Market cap is less than US$100m (€18.6m market cap, or US$21.4m). Tillkännagivande • Jul 25
Cherry SE Announces Volker Christ, Executive Vice President Global Finance & IT to Leave on 31 July 2025 Cherry SE announced a change in its finance department. Volker Christ, Executive Vice President Global Finance & IT, will leave the company on 31 July 2025 for family reasons. Following the decision by the Supervisory Board of Cherry SE, the finance department will once again be directly anchored in the Management Board. The company is currently in advanced talks to fill the CFO position. Until then, the department will be managed by CEO Oliver Kaltner on an interim basis. Price Target Changed • Jul 22
Price target decreased by 74% to €1.00 Down from €3.88, the current price target is provided by 1 analyst. New target price is 27% above last closing price of €0.79. Stock is down 67% over the past year. The company is forecast to post a net loss per share of €0.29 next year compared to a net loss per share of €1.96 last year. Tillkännagivande • Jun 09
Cherry SE, Annual General Meeting, Jul 22, 2025 Cherry SE, Annual General Meeting, Jul 22, 2025, at 11:00 W. Europe Standard Time. Tillkännagivande • May 29
Contour Design Nordic A/S completed the acquisition of Active Key GmbH & Co. KG from Cherry SE (XTRA:C3RY). Contour Design Nordic A/S entered into a definitive agreement to acquire Active Key GmbH & Co. KG from Cherry SE (XTRA:C3RY) for €21 million on May 8, 2025. The purchase price amounts to €21 million and will be settled through a combination of a fixed cash component €12.5 million, payable upon closing and subject to a net working capital adjustment, as well as a variable component of up to approximately €8.5 million. The variable purchase price is contingent upon the achievement of certain financial performance targets. This structure reflects the shared commitment of both parties to the long-term success and integration of Active Key. The transaction includes the transfer of all employees and relevant assets. Subject to regulatory approvals and fulfillment of customary closing conditions. The transaction is expected to close at the end of May, 2025.
Marc Seeger, Jan Medele, Miriam Ballhausen, Thomas Hey, Karina Bischoff, Constantin Eikel, Christian Lindenthal, Stephan Waldheim,Michael Brüggemann and Michael Jünemann of Bird & Bird LLP acted as legal advisor to Contour Design Nordic A/S.
Contour Design Nordic A/S completed the acquisition of Active Key GmbH & Co. KG from Cherry SE (XTRA:C3RY) on May 8, 2025. Tillkännagivande • May 08
Contour Design Nordic A/S entered into a definitive agreement to acquire Active Key GmbH & Co. KG from Cherry SE (XTRA:C3RY) for €21 million. Contour Design Nordic A/S entered into a definitive agreement to acquire Active Key GmbH & Co. KG from Cherry SE (XTRA:C3RY) for €21 million on May 8, 2025. The purchase price amounts to €21 million and will be settled through a combination of a fixed cash component €12.5 million, payable upon closing and subject to a net working capital adjustment, as well as a variable component of up to approximately €8.5 million. The variable purchase price is contingent upon the achievement of certain financial performance targets. This structure reflects the shared commitment of both parties to the long-term success and integration of Active Key. The transaction includes the transfer of all employees and relevant assets. Subject to regulatory approvals and fulfillment of customary closing conditions. The transaction is expected to close at the end of May, 2025. Tillkännagivande • Apr 17
Cherry Unveils MX Northern Light - A Limited-Edition Linear Switch Crafted for the Keyboard Community CHERRY introduced the MX Northern Light, a limited-edition, community-crafted linear switch delivering the smoothest typing experience CHERRY has ever engineered. Developed by CHERRY's in-house team of switch enthusiasts, MX Northern Light is a love letter to the keyboard community. It blends the latest MX2A innovations with never-before-seen enhancements, including an ultra-polished top housing and a custom-engineered blue bottom, resulting in a switch that's as smooth as it is striking. This exclusive set pairs the ultra-customizable K5V2 compact keyboard, featuring the new CHERRY MX Northern Light switches and uniquely designed PBT keycaps, with the matching GP6 Northern Light XL mousepad. To celebrate the launch of MX Northern Light, CHERRY XTRFY is also releasing a limited-edition K5V2 + GP6 Northern Light Bundle. Designed for performance and built to stand out, the bundle offers enthusiasts a premium typing and gaming experience with a cohesive, aurora-inspired aesthetic. Crafted by CHERRY's In-house switch enthusiasts, the MX Northern Light features a polished top housing and a striking blue base, and is designed for the smoothest typing experience yet. At its core, Northern Light delivers a smooth, dampened linear feel with whisper- quiet performance. Every stroke is refined, responsive, and satisfying, and ideal for gaming, deep focus sessions, or simply enjoying the pure pleasure of a perfectly tuned mechanical switch. The switch is fully enhanced with the latest MX2A technology stack, including factory-applied premium lubricant that reduces friction, a noise-dampening barrel spring that softens the sound profile, and glide-optimized stem geometry paired with a polished top housing for ultra-smooth actuation. Built with CHERRY's iconic Gold Crosspoint technology, Northern Light guarantees consistent performance and incredible durability, rated for over 50 million keystrokes without loss of quality. Add in its MSRP: $29.99, Amazon: Link, US availability: May, MSRP: $129.99 and Amazon: Link. This is a collector's drop for the true keyboard connoisseurs, the enthusiasts who crave something rare, premium, and purpose-built. Tillkännagivande • Mar 21
Cherry Launches Its First Multi-Platform Wireless Gaming Headset CHERRY, is expanding its portfolio with a major innovation in gaming audio: the CHERRY XTRFY H3 Wireless. This all-purpose wireless gaming headset combines pro-level sound, multiple EQ modes for everyday use, and versatile wireless connectivity, making it an ideal choice for both professional gamers and casual users. The H3 Wireless Headset marks CHERRY XTRFY's entry into the wireless headset market. Built for gaming, it immerses players in the action with esports-tuned sound. The headset builds on the audio precision of the H1 and H2 models, developed in collaboration with professional players. Its 53mm drivers amplify key in-game sounds, keeping players one step ahead of the competition. With dual wireless connectivity, the H3 Wireless is perfect for any setup, whether at a gaming desk, connected to a console by the TV, or used on the go. Gamers can enjoy lag-free, ultra-responsive audio with the included low-latency USB dongle, while Bluetooth mode allows for effortless pairing with mobile devices. Customizable EQ modes let users fine-tune their experience, switching between gaming, movie, or music settings with ease. Designed for long sessions, the lightweight aluminum construction of the H3 Wireless features large over-ear cups with soft memory foam padding that conforms to any head shape for maximum comfort. The rechargeable battery lasts up to 100 hours and supports pass-through charging via USB-C, ensuring uninterrupted gameplay. The CHERRY XTRFY H3 Wireless is available now for a suggested retail price of $99.99 on Amazon. Major Estimate Revision • Feb 18
Consensus EPS estimates fall by 49% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from €116.0m to €110.0m. Losses expected to increase from €0.49 per share to €0.73. Tech industry in Germany expected to see average net income growth of 28% next year. Consensus price target of €2.40 unchanged from last update. Share price fell 14% to €0.81 over the past week. Tillkännagivande • Feb 17
Charlotte Johs Resigns from the Supervisory Board of Cherry SE Cherry SE announced that Charlotte Johs has decided to step down from her position on the Supervisory Board of Cherry SE, effective 28 February 2025. Ms. Johs has been nominated and intends to assume a role as a Supervisory Board member at Danish Store Nord. Tillkännagivande • Jan 16
Cherry SE Appoints Alexander Hecker as Senior Vice President Global Peripherals Cherry SE appointed Alexander Hecker as Senior Vice President Global Peripherals. Alexander Hecker will take over the position of Senior Vice President Global Peripherals of the newly designed business at CHERRY on February 1, 2025. Peripherals combines the sales and marketing of all products from the gaming, office, hygiene, and security sectors for a uniform go-to-market approach in sales channels, thus creating the basis for organic growth. Alexander Hecker, an experienced multi-channel expert, will lead the new Peripherals business segment. Thierry Ondet, who was originally scheduled to assume the position in January 2025, is unfortunately unable to do so due to personal reasons. With Alexander Hecker, CHERRY has gained a multi-channel strategist with over 25 years of industry experience. His track record speaks for itself: during his time at Sonos, he was able to establish the brand and innovative go-to-market concepts in retail, achieve growth of >3,500% and win over 1.7 million households. His tech know-how, as well as his relevant sales and marketing expertise – shaped by stints at Eora, Sonos, Microsoft and Sony – make him the ideal person to drive the company’s strategic development. Alexander’s responsibilities will include launching a new partner program for the Peripherals business, aimed at building a sustainable distributor and retailer network across Europe. Priority markets include Benelux, Iberia, France, the UK, the Nordics, Poland, and the DACH region. New Risk • Nov 12
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: -€10m 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 Risk Share price has been highly volatile over the past 3 months (20% average weekly change). Minor Risks Less than 1 year of cash runway based on current free cash flow (-€10m). Currently unprofitable and not forecast to become profitable over next 2 years (€3.3m net loss in 2 years). Market cap is less than US$100m (€15.1m market cap, or US$16.0m). Reported Earnings • Nov 07
Third quarter 2024 earnings released: €0.31 loss per share (vs €0.33 loss in 3Q 2023) Third quarter 2024 results: €0.31 loss per share (improved from €0.33 loss in 3Q 2023). Revenue: €22.6m (down 17% from 3Q 2023). Net loss: €7.20m (loss narrowed 6.5% from 3Q 2023). Revenue is forecast to grow 1.2% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Tech industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 32 percentage points per year, which is a significant difference in performance. Major Estimate Revision • Oct 09
Consensus EPS estimates fall by 374% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from €137.2m to €125.5m. Losses expected to increase from €0.10 per share to €0.49. Tech industry in Germany expected to see average net income growth of 28% next year. Consensus price target down from €3.88 to €1.82. Share price fell 35% to €0.52 over the past week. New Risk • Oct 08
New major risk - Revenue and earnings growth Earnings have declined by 96% 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 Share price has been highly volatile over the past 3 months (16% average weekly change). Earnings have declined by 96% per year over the past 5 years. Minor Risks Currently unprofitable and not forecast to become profitable next year (€44m net loss next year). Market cap is less than US$100m (€13.2m market cap, or US$14.5m). New Risk • Oct 02
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 15% 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 Risk Share price has been highly volatile over the past 3 months (15% average weekly change). Minor Risk Market cap is less than US$100m (€18.6m market cap, or US$20.5m). Buy Or Sell Opportunity • Oct 02
Now 60% undervalued after recent price drop Over the last 90 days, the stock has fallen 67% to €0.80. The fair value is estimated to be €2.00, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.8% over the last 3 years. Earnings per share has declined by 109%. Revenue is forecast to grow by 13% in a year. Earnings are forecast to grow by 100% in the next year. Buy Or Sell Opportunity • Sep 11
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 33% to €1.74. The fair value is estimated to be €2.20, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.8% over the last 3 years. Earnings per share has declined by 109%. Revenue is forecast to grow by 13% in a year. Earnings are forecast to grow by 100% in the next year. Tillkännagivande • Aug 22
Cherry Xtrfy Presents Long-Awaited Product Launches At Gamescom 2024 CHERRY XTRFY announces the retail availability of a new series of gaming gear at this year's Gamescom. These include the long-awaited Wireless M64 and M68 gaming mice and the new MX 3.1 keyboard. CHERRY XTRFY has a long tradition of working with professional esports athletes, collaborating with organizations worldwide, such as Team Vitality, SK Gaming and LNG E-Sports. The company relies on expert testimonials and reviews in order to take the needs of gamers into account as much as possible in product development. The new releases at Gamescom are the results of this collaboration over the past year. The MX 3.1 keyboard with CHERRY MX2A switches The MX 3.1 is a powerful gaming keyboard with a high-quality aluminum housing that enhances stability and durability. It features RGB lighting, which complements its distinctive look, available in either black or white. This keyboard provides a low noise level and a pleasant typing experience, thanks to the improved damping structure of the newly integrated CHERRY MX2A switches. These switches are designed for longevity, offering a lifespan of 100 million keystrokes and are available with different switching characteristics. Building on the success of previous models such as the MX 2.0S and MX 3.0S Wireless, these keyboards are now offered in updated versions featuring the new CHERRY MX2A switches. This upgrade represents a significant advancement in the performance and reliability of the CHERRY MX series, renowned as the world’s most trusted keyboard switch used in over 60 million keyboards globally. With the MX2A switches, users can enjoy smoother actuation and improved acoustics, achieved through precisely applied premium-grade lubricant and an innovative spring design. The MX 3.1, equipped with these advanced switches, is now available for purchase for $119.99. A wireless revolution: the M64 and M68 mouse series The sixth generation of CHERRY XTRFY mice offers performance on a whole other level. Four models are introduced: The M64 Wireless and M64 Pro Wireless with an ergonomic form factor, and the M68 Wireless and M68 Pro Wireless with a symmetrical shape. Evolving from the popular M4 and M8 mice, the M64 and M68 are crafted with input from elite gamers and redesigned for even better grip and control, lower weight, and higher performance. The Pro versions feature incredibly fast 8000 Hz technology. By reporting every 0.125 milliseconds and sending up to eight times more data than a standard 1000 Hz gaming mouse, these mice make cursor movements smoother and enable the computer to respond faster to every click. As a result, the M64 Pro Wireless and M68 Pro Wireless offer some of the lowest click latencies ever measured on wireless gaming mice. The M64 and M68 Wireless Mice are now available at Amazon in both Black and White. Each model comes in two versions: M64 Wireless: $99.99 (Standard) /$139.99 (Pro) M68 Wireless: $99.99 (Standard) /$139.99 (Pro) New gaming all-rounder: the M50 mouse series Completing its portfolio of new mice, CHERRY XTRFY introduces the M50 and M50 Wireless models. These mid-range mice offer a very good price-performance ratio, featuring a new ergonomic shape for enhanced comfort and control. Designed with quality components, the M50 series is the all-around choice for gamers at any skill level and is available in both black and white to suit different preferences. The wireless version of the M50 comes equipped with customizable RGB illumination and triple connection modes, allowing for versatile use across various gaming setups. It offers an uncompromising 2.4 GHz wireless connection for lag-free gaming and Bluetooth® connectivity for compatibility with multiple devices. Additionally, gamers can switch to wired mode using the CHERRY XTRFY EZcord® for smooth movements, ensuring flexibility and performance in any scenario. The M50 mouse series is now available for purchase, with the standard wired mouse pricing at $49.99 and the wireless mouse at $69.99. To complete the new gaming setup, CHERRY XTRFY introduces a new edition of the GP5 mousepad. The GP5 Amnis Blue features fresh artwork and expands the GP5 series with new sizes, available in Medium, Large, and XL versions, to suit a diverse range of gamers. Renowned for its performance, the GP5 mousepad is trusted by professional gamers and was last seen winning the final CS Major and the BLAST Premier Fall Finals 2023 in CS2. Featuring CHERRY XTRFY’s smoothest cloth surface to date, it offers the ideal surface for fast-paced games requiring pinpoint precision. Additionally, the GP5 is available in an exclusive edition in collaboration with the esports organization SK Gaming. The GP5 mousepads are now available for purchase. Tillkännagivande • Aug 10
Cherry SE to Report Q3, 2024 Results on Oct 24, 2024 Cherry SE announced that they will report Q3, 2024 results on Oct 24, 2024 Reported Earnings • Aug 07
Second quarter 2024 earnings released: €0.14 loss per share (vs €0.012 profit in 2Q 2023) Second quarter 2024 results: €0.14 loss per share (down from €0.012 profit in 2Q 2023). Revenue: €31.3m (down 4.1% from 2Q 2023). Net loss: €3.28m (down €3.57m from profit in 2Q 2023). Revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Tech industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 47 percentage points per year, which is a significant difference in performance. Tillkännagivande • Aug 03
CHERRY XTRFY Launches New Series of Wireless Gaming Mice CHERRY XTRFY announced it is now launching its new series of wireless gaming mice. The ergonomic M64 and the symmetrical M68 offer better grip and control, lower weight and higher performance. Both models are available in Pro versions with an 8000 Hz polling rate. Evving from previous models - XTRFY's best-selling M4 as well as the innovative M8 mouse - CHERRY XTRFY made the M64 and M68 based on input received from professional players, reviewers and the gaming community over the past years. The result is two brand new mouse shapes and new, leading technology. With the 8K wireless technology featured in the Pro models, the mice report to the computer every 0.125 latency and send up to eight times more data than a standard 1000 Hz gaming mouse, making cursor movements smoother and enabling the computer to respond faster to every click. According to external testing carried out in May, the M64 Pro Wireless has "the lowest click latency of any wireless mouse on the market, and also the most consistent." As an evolution of the popular XTRFY M4, the M64 is the option for gamers who prefer an ergonomic form factor. The new design is reinvented for an even better grip, with adjusted side curvature, button grooves and an ultra-low front, which allows the user to move their fingers closer to the mousepad for enhanced control in every swipe. Gamers can choose between the standard M64 Wireless with a 1000 Hz polling rate or the M64 Pro Wireless with ultra-fast 8000 Hz technology. Shaped by feedback from players, the M68 has a new size, redesigned curvature, and the low button height is enhanced further by added comfort grooves, improving grip and accuracy. In terms of technology, the M64 Wireless and M68 Wireless share the same components and specifications, and both are available in standard 1000 Hz as well as 8000 Hz Pro models. The M64 and M68 Wireless Mice are now available at Amazon in both Black and White. Each model comes in two versions: M64 Wireless: $99.99 (Standard) /$139.99 (Pro). M68 Wireless: $99.99 (Standard) /$139.99 (Pro). Tillkännagivande • Jul 29
Cherry SE Announces Executive Changes Cherry SE had previously announced that Volker Christ would assume long-term responsibility for Global Finance & IT as Executive Vice President from 1 August 2024, reporting directly to the CEO, and that the Executive Board position of CFO Dr Mathias Dähn, who left the company prematurely, would not be filled. The Supervisory Board also announced the appointment of semiconductor physicist Ashley Saulsbury to the Supervisory Board and the extension of Steven M. Greenberg's mandate. Tillkännagivande • Jul 18
Cherry SE to Report Q2, 2024 Results on Jul 24, 2024 Cherry SE announced that they will report Q2, 2024 results on Jul 24, 2024 Price Target Changed • Jul 17
Price target decreased by 8.8% to €3.88 Down from €4.25, the current price target is an average from 4 analysts. New target price is 62% above last closing price of €2.39. Stock is down 36% over the past year. The company is forecast to post a net loss per share of €0.11 next year compared to a net loss per share of €5.45 last year. Major Estimate Revision • Jul 17
Consensus EPS estimates upgraded to €0.11 loss The consensus outlook for fiscal year 2024 has been updated. 2024 losses forecast to reduce from -€0.12 to -€0.107 per share. Revenue forecast steady at €136.5m. Tech industry in Germany expected to see average net income growth of 51% next year. Consensus price target down from €4.25 to €3.88. Share price rose 2.8% to €2.39 over the past week. Price Target Changed • Jun 19
Price target increased by 9.9% to €4.25 Up from €3.87, the current price target is an average from 4 analysts. New target price is 68% above last closing price of €2.53. Stock is down 28% over the past year. The company is forecast to post a net loss per share of €0.12 next year compared to a net loss per share of €5.45 last year. Major Estimate Revision • Jun 06
Consensus EPS estimates upgraded to €0.12 loss The consensus outlook for fiscal year 2024 has been updated. 2024 losses forecast to reduce from -€0.317 to -€0.12 per share. Revenue forecast unchanged from €137.5m at last update. Tech industry in Germany expected to see average net income growth of 53% next year. Consensus price target of €4.00 unchanged from last update. Share price rose 16% to €2.55 over the past week. New Risk • May 05
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 2 years. Trailing 12-month net loss: €48m Forecast net loss in 2 years: €291k This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (€291k net loss in 2 years). Share price has been volatile over the past 3 months (9.5% average weekly change). Market cap is less than US$100m (€57.3m market cap, or US$61.7m). Major Estimate Revision • Apr 30
Consensus EPS estimates upgraded to €0.24 loss The consensus outlook for fiscal year 2024 has been updated. 2024 losses forecast to reduce from -€0.31 to -€0.237 per share. Revenue forecast steady at €139.0m. Tech industry in Germany expected to see average net income growth of 56% next year. Consensus price target of €3.90 unchanged from last update. Share price rose 13% to €2.29 over the past week. Tillkännagivande • Apr 27
Cherry SE to Report Fiscal Year 2023 Results on May 22, 2024 Cherry SE announced that they will report fiscal year 2023 results on May 22, 2024 Tillkännagivande • Mar 14
Cherry SE Launches Disinfectable Mouse and Keyboard Set for Hygiene-Sensitive Areas at HIMSS Cherry SE introduced a new desktop set that meets the hygiene recommendations of the Robert Koch Institute - a German federal government agency and research institute responsible for disease control and prevention. The easy-to-wipe and disinfect keyboard complete with abrasion-resistant writing and a flat profile so that no liquid residue remains from disinfection, whilst the two computer mice with a 3-button scroll and scroll sensor are waterproof and easy to clean with their crevice-free design. The blue light sensor, they can also be used on any shiny surface. The new hygiene desktop is ideal for extensive entry in hospitals, doctors' surgeries, laboratories, other healthcare facilities, where disinfecting devices is mandatory. When cleaning standard office keyboards, (even when internally sealed) contaminated cleaning fluids can potentially leak out of the gaps. It is also possible the functionality could be impaired if liquids seep into the keyboard housing. Conventional hygiene keyboards also tend to have the key profile raised in such a way that contaminated cleaning fluid collects in the gaps between the keys. Any germs that survive in the fluid can in turn be spread by staff on their hands. In addition to the new hygiene desktop, Cherry has also expanded its existing protected peripheral line to offer a wider range of layouts and configurations to meet the diverse needs of its customers. This expansion includes color options and layouts including Spanish, French Canadian and French. Available at authorized distributors with prices starting from $64.99. Product details: The Hygiene Desktop 2 is an individually configurable set consisting of the AK-C8112 hygiene keyboard and the AK-PMH3 3-Button Scroll and AK-PMH3 Scroll Sensor hygienic mice. The AK-C8112 hygienic keypad: The AK-C8112 is the optimized version of its predecessor, the AK-C8100, and has significantly better cleanability due to its flat key profile. The AK-C8112 has a replaceable silicone membrane or a fully sealed IP68 protection class and is waterproof in both versions. It has a particularly flat button profile, which makes it easy to disinfect with a wipe. The keypad can also be switched off for cleaning. It is a standard office PC layout keyboard with 104/105 keys. It features a light keystroke and excellent sensory feedback. Keystroke/actuating force: approx. 2.5+/-0.5mm /60g - comparable to notebook keyboards. The keyboard can be connected flexibly, either wired (approx. 1.80 m cable length) or as a wireless keyboard. System requirements: All operating systems that support a standard USB keyboard. Approvals, certificates: CE, RoHS, FCC, CAN/ISED, EN-60601-1-2:2015 IEC 4th Edition. Not a medical device according to MDR 2017/745 EU System requirements: All operating systems that support a standard USB keyboard. Approvals, certificates: CE, RoHS, FCC, CAN/ISED, EN-60601-1-2:2015 IEC 4th Edition. Not a medical device according to MDR 2017/745 E The AK-PMH3 hygiene mice in two versions: The AK-PMH3 hygienic mice in the 3-button scroll and scroll sensor versions meet the highest ergonomic standards and are suitable for use on shiny surfaces in the medical sector, for example, thanks to the blue light sensor. The computer mice have a fully sealed protective membrane for protection class IP68 and a gap-free design for waterproof wipe disinfection. The mice have a flat design height with bevelled sides for the best ergonomics. They are suitable for both right-handed and left-handed users. The mice are available as wired or wireless versions. The computer mice reactivate the computer from sleep mode by movement. The AK-PMH3 Medical Mouse enables precise scrolling with the 3-button scroll control and intuitive scrolling via the familiar finger movement as with a scroll wheel with the scroll sensor. System requirements: All operating systems that support a standard USB mouse. Approvals, certificates: CE, RoHS, FCC, CAN/ISED, EN-60601-1-2:2015 IEC 4th Edition. Not a medical device according to MDR 2017/745 EU. Major Estimate Revision • Feb 02
Consensus EPS estimates fall by 27% The consensus outlook for fiscal year 2023 has been updated. 2023 expected loss increased from -€0.727 to -€0.922 per share. Revenue forecast of €130.3m unchanged since last update. Tech industry in Germany expected to see average net income growth of 73% next year. Consensus price target down from €6.13 to €5.00. Share price fell 38% to €2.07 over the past week. New Risk • Feb 02
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 2 years. Trailing 12-month net loss: €48m Forecast net loss in 2 years: €1.2m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (14% average weekly change). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (€1.2m net loss in 2 years). Market cap is less than US$100m (€43.2m market cap, or US$47.0m). Reported Earnings • Nov 16
Third quarter 2023 earnings released: €0.33 loss per share (vs €0.003 loss in 3Q 2022) Third quarter 2023 results: €0.33 loss per share (further deteriorated from €0.003 loss in 3Q 2022). Revenue: €27.3m (down 15% from 3Q 2022). Net loss: €7.70m (loss widened €7.62m from 3Q 2022). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Tech industry in Europe. New Risk • Nov 06
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 2 years. Trailing 12-month net loss: €40m Forecast net loss in 2 years: €118k This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (12% average weekly change). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (€118k net loss in 2 years). Market cap is less than US$100m (€66.6m market cap, or US$71.5m). Price Target Changed • Nov 02
Price target decreased by 14% to €7.63 Down from €8.88, the current price target is an average from 4 analysts. New target price is 175% above last closing price of €2.78. Stock is down 47% over the past year. The company is forecast to post a net loss per share of €0.23 next year compared to a net loss per share of €1.49 last year. Tillkännagivande • Oct 25
Cherry SE to Report Q3, 2023 Results on Nov 15, 2023 Cherry SE announced that they will report Q3, 2023 results on Nov 15, 2023 Buying Opportunity • Oct 25
Now 29% undervalued after recent price drop Over the last 90 days, the stock is down 33%. The fair value is estimated to be €4.17, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 17% over the last year. Meanwhile, the company became loss making. Revenue is forecast to grow by 16% in a year. Earnings is forecast to grow by 96% in the next year. New Risk • Oct 23
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €87.2m (US$93.0m) This is considered a minor 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 Share price has been highly volatile over the past 3 months (8.9% average weekly change). Minor Risk Market cap is less than US$100m (€87.2m market cap, or US$93.0m). New Risk • Oct 13
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 8.3% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 20
Second quarter 2023 earnings: EPS misses analyst expectations Second quarter 2023 results: EPS: €0.012 (up from €0.015 loss in 2Q 2022). Revenue: €32.6m (flat on 2Q 2022). Net income: €288.0k (up €650.0k from 2Q 2022). Profit margin: 0.9% (up from net loss in 2Q 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Tech industry in Europe. Major Estimate Revision • Aug 17
Consensus EPS estimates upgraded to €0.25 loss The consensus outlook for fiscal year 2023 has been updated. 2023 losses forecast to reduce from -€0.292 to -€0.247 per share. Revenue forecast steady at €138.6m. Tech industry in Germany expected to see average net income growth of 65% next year. Consensus price target up from €8.63 to €8.88. Share price rose 11% to €5.39 over the past week. Tillkännagivande • Jul 06
Andreas Zacher Joins Cherry SE as Senior Vice President Business Development & Sales for Strategic Partners, OEM / ODM & Software As of July 1, 2023, Andreas Zacher will take over the management of the Components business unit of Cherry SE and the expansion of cooperation with computer manufacturers and strategic partners. Andreas Zacher has 25 years of international management experience, among others at Microsoft Corp. where he was responsible for computer manufacturers in EMEA as well as for various strategic projects, such as the worldwide implementation of a software-as-a-service project. Through his many years at Microsoft, Andreas Zacher has built up an extremely deep network of computer manufacturers and partners in the B2C and B2B environments, which provides the basis for implementing the strategic realignment. Building on his previous experience in the development and implementation of innovative sales strategies, Andreas Zacher will use his global management experience to further develop the Components business unit. Major Estimate Revision • Jun 21
Consensus EPS estimates fall by 41% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from €142.3m to €139.6m. Losses expected to increase from €0.18 per share to €0.25. Tech industry in Germany expected to see average net income growth of 20% next year. Consensus price target down from €10.15 to €8.63. Share price fell 24% to €3.49 over the past week. Buying Opportunity • Jun 12
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 38%. The fair value is estimated to be €5.77, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 22% over the last year. Meanwhile, the company became loss making. Revenue is forecast to grow by 14% in a year. Earnings is forecast to grow by 91% in the next year. Major Estimate Revision • May 28
Consensus EPS estimates upgraded to €0.08 loss The consensus outlook for fiscal year 2023 has been updated. 2023 losses forecast to reduce from -€0.115 to -€0.08 per share. Revenue forecast steady at €144.4m. Tech industry in Germany expected to see average net income growth of 20% next year. Consensus price target down from €11.65 to €10.65. Share price was steady at €4.39 over the past week. Price Target Changed • May 26
Price target decreased by 12% to €10.65 Down from €12.15, the current price target is an average from 4 analysts. New target price is 143% above last closing price of €4.39. Stock is down 41% over the past year. The company is forecast to post a net loss per share of €0.08 next year compared to a net loss per share of €1.49 last year. Major Estimate Revision • May 16
Consensus EPS estimates fall by 245% The consensus outlook for fiscal year 2023 has been updated. 2023 expected loss increased from -€0.042 to -€0.147 per share. Revenue forecast of €145.7m unchanged since last update. Tech industry in Germany expected to see average net income growth of 13% next year. Consensus price target down from €12.15 to €11.65. Share price fell 6.7% to €4.39 over the past week. Reported Earnings • Apr 02
Full year 2022 earnings released: €1.49 loss per share (vs €0.42 profit in FY 2021) Full year 2022 results: €1.49 loss per share (down from €0.42 profit in FY 2021). Revenue: €132.5m (down 21% from FY 2021). Net loss: €35.7m (down 485% from profit in FY 2021). Revenue is forecast to grow 9.9% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Tech industry in Europe. Price Target Changed • Mar 28
Price target decreased by 11% to €12.15 Down from €13.65, the current price target is an average from 4 analysts. New target price is 128% above last closing price of €5.32. Stock is down 71% over the past year. The company is forecast to post a net loss per share of €0.093 compared to earnings per share of €0.42 last year. Buying Opportunity • Mar 22
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 25%. The fair value is estimated to be €6.95, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last year. Earnings per share has grown by 332%. For the next 3 years, revenue is forecast to grow by 11% per annum. Earnings is also forecast to grow by 69% per annum over the same time period. Major Estimate Revision • Mar 22
Consensus EPS estimates fall by 32% The consensus outlook for fiscal year 2022 has been updated. 2022 expected loss increased from -€0.07 to -€0.092 per share. Revenue forecast unchanged at €133.4m. Tech industry in Germany expected to see average net income growth of 6.1% next year. Consensus price target down from €13.65 to €13.15. Share price fell 20% to €5.73 over the past week. Valuation Update With 7 Day Price Move • Mar 21
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to €5.73, the stock trades at a forward P/E ratio of 86x. Average forward P/E is 23x in the Tech industry in Europe. Total loss to shareholders of 68% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €7.12 per share. Major Estimate Revision • Mar 08
Consensus EPS estimates fall by 33% The consensus outlook for fiscal year 2022 has been updated. 2022 expected loss increased from -€0.052 to -€0.07 per share. Revenue forecast of €133.2m unchanged since last update. Tech industry in Germany expected to see average net income growth of 9.5% next year. Consensus price target up from €12.95 to €13.65. Share price rose 3.6% to €8.00 over the past week. Valuation Update With 7 Day Price Move • Feb 20
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €7.87, the stock trades at a forward P/E ratio of 77x. Average forward P/E is 22x in the Tech industry in Europe. Total loss to shareholders of 59% over the past year. Tillkännagivande • Feb 10
Cherry SE to Report Fiscal Year 2022 Results on Mar 30, 2023 Cherry SE announced that they will report fiscal year 2022 results on Mar 30, 2023 Major Estimate Revision • Dec 06
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 expected loss increased from -€0.04 to -€0.05 per share. Revenue forecast of €132.7m unchanged since last update. Tech industry in Germany expected to see average net income growth of 17% next year. Consensus price target of €12.95 unchanged from last update. Share price fell 5.3% to €6.66 over the past week. Major Estimate Revision • Nov 22
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 expected loss increased from -€0.02 to -€0.04 per share. Revenue forecast unchanged at €132.7m. Tech industry in Germany expected to see average net income growth of 17% next year. Consensus price target down from €13.70 to €12.95. Share price fell 2.7% to €6.95 over the past week. Reported Earnings • Nov 16
Third quarter 2022 earnings released: €0.004 loss per share (vs €0.25 profit in 3Q 2021) Third quarter 2022 results: €0.004 loss per share (down from €0.25 profit in 3Q 2021). Revenue: €32.1m (down 25% from 3Q 2021). Net loss: €78.0k (down 101% from profit in 3Q 2021). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Tech industry in Europe. Major Estimate Revision • Nov 09
Consensus EPS estimates fall by 72% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from €147.7m to €136.6m. EPS estimate also fell from €0.14 per share to €0.04 per share. Net income forecast to shrink 51% next year vs 7.1% growth forecast for Tech industry in Germany . Consensus price target down from €17.89 to €15.85. Share price rose 6.9% to €5.59 over the past week. 