New Risk • Apr 13
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €8.19m (US$9.63m) 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 (€8.19m market cap, or US$9.63m). Minor Risk Share price has been volatile over the past 3 months (14% average weekly change). Breakeven Date Change • Apr 12
Forecast breakeven date pushed back to 2027 The 2 analysts covering Pyramid previously expected the company to break even in 2026. New consensus forecast suggests losses will reduce by 75% per year to 2026. The company is expected to make a profit of €1.10m in 2027. Average annual earnings growth of 62% is required to achieve expected profit on schedule. New Risk • Apr 09
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of 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 Risk Share price has been highly volatile over the past 3 months (14% average weekly change). Minor Risk Market cap is less than US$100m (€9.57m market cap, or US$11.2m). Buy Or Sell Opportunity • Mar 18
Now 114% overvalued after recent price rise Over the last 90 days, the stock has risen 216% to €2.84. The fair value is estimated to be €1.33, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last year. Earnings per share has grown by 46%. Revenue is forecast to grow by 4.7% in a year. Earnings are forecast to grow by 43% in the next year. Breakeven Date Change • Nov 23
Forecast breakeven date pushed back to 2026 The 2 analysts covering Pyramid previously expected the company to break even in 2025. New consensus forecast suggests losses will reduce by 54% to 2025. The company is expected to make a profit of €1.20m in 2026. Average annual earnings growth of 66% is required to achieve expected profit on schedule. Price Target Changed • Oct 24
Price target increased by 10.0% to €1.65 Up from €1.50, the current price target is an average from 2 analysts. New target price is 74% above last closing price of €0.95. Stock is down 4.9% over the past year. The company is forecast to post a net loss per share of €0.045 next year compared to a net loss per share of €0.14 last year. Major Estimate Revision • Oct 18
Consensus EPS estimates have been downgraded. The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from €87.9m to €80.9m. Now expected to report a loss of €0.015 per share instead of €0.005 per share profit previously forecast. Tech industry in Germany expected to see average net income growth of 43% next year. Consensus price target of €1.50 unchanged from last update. Share price rose 13% to €1.00 over the past week. Breakeven Date Change • Oct 17
Forecast breakeven date pushed back to 2026 The 2 analysts covering Pyramid previously expected the company to break even in 2025. New consensus forecast suggests the company will make a profit of €1.65m in 2026. Average annual earnings growth of 58% is required to achieve expected profit on schedule. 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 German stocks, typically moving 12% 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 (12% average weekly change). Market cap is less than US$100m (€27.3m market cap, or US$32.0m). Tillkännagivande • Jul 18
Pyramid AG, Annual General Meeting, Aug 26, 2025 Pyramid AG, Annual General Meeting, Aug 26, 2025, at 14:00 W. Europe Standard Time. Price Target Changed • Jul 09
Price target decreased by 8.8% to €1.55 Down from €1.70, the current price target is an average from 2 analysts. New target price is 62% above last closing price of €0.95. Stock is down 10.0% over the past year. Reported Earnings • Jul 07
Full year 2024 earnings released Full year 2024 results: Revenue: €70.6m (down 7.2% from FY 2023). Net loss: €3.15m (loss narrowed 37% from FY 2023). Revenue is forecast to grow 9.9% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Tech industry in Europe. New Risk • May 18
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 (9.4% average weekly change). Market cap is less than US$100m (€21.5m market cap, or US$24.0m). Price Target Changed • Apr 28
Price target increased by 14% to €1.60 Up from €1.40, the current price target is an average from 2 analysts. New target price is 62% above last closing price of €0.99. Stock is down 4.8% over the past year. The company is forecast to post earnings per share of €0.07 next year compared to a net loss per share of €0.22 last year. Tillkännagivande • Apr 25
Pyramid AG (XTRA:M3BK) acquired RNT Rausch GmbH from Securize IT Solutions AG (MUN:M14K) for approximately €2.5 million. Pyramid AG (XTRA:M3BK) acquired RNT Rausch GmbH from Securize IT Solutions AG (MUN:M14K) for approximately €2.5 million on April 24, 2025. As part of consideration, a cash purchase price of €2.5 million is paid towards common equity of RNT Rausch GmbH, as well as a debtor warrant valuing RNT at 6.95 times its 2025 EBITDA and providing an earn-out of 20% of RNT's 2026 EBITDA. Pyramid is entitled to pay up to 80% of any additional purchase price resulting from the debtor warrant in its own shares. In a related transaction, Pyramid sold its shareholdings in Smarteag AG, Munich (including Smarteag AG's shareholding in fibrisTerre Systems GmbH, Berlin) and in 4industries AG, Munich, as well as its receivables from loans and ongoing business activities against Smarteag AG and 4industries AG to Securize IT Solutions AG, as both companies are not part of the core business of the Pyramid Group.
Pyramid AG (XTRA:M3BK) completed the acquisition of RNT Rausch GmbH from Securize IT Solutions AG (MUN:M14K) for approximately €2.5 million on April 24, 2025. Price Target Changed • Mar 04
Price target decreased by 20% to €1.40 Down from €1.75, the current price target is an average from 2 analysts. New target price is 100% above last closing price of €0.70. Stock is down 48% over the past year. The company is forecast to post earnings per share of €0.07 next year compared to a net loss per share of €0.22 last year. Breakeven Date Change • Dec 31
Forecast breakeven date pushed back to 2025 The 2 analysts covering Pyramid previously expected the company to break even in 2024. New consensus forecast suggests the company will make a profit of €2.30m in 2025. Average annual earnings growth of 93% is required to achieve expected profit on schedule. New Risk • Nov 07
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 4.2% 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: Minor Risks Less than 3 years of financial data is available. Share price has been volatile over the past 3 months (9.2% average weekly change). Shareholders have been diluted in the past year (4.2% increase in shares outstanding). Market cap is less than US$100m (€23.1m market cap, or US$24.9m). New Risk • Sep 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 German stocks, typically moving 6.8% 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 Less than 3 years of financial data is available. Share price has been volatile over the past 3 months (6.8% average weekly change). Shareholders have been diluted in the past year (19% increase in shares outstanding). Market cap is less than US$100m (€22.8m market cap, or US$25.3m). Price Target Changed • Aug 27
Price target decreased by 18% to €2.00 Down from €2.45, the current price target is an average from 2 analysts. New target price is 89% above last closing price of €1.06. Stock is down 29% over the past year. The company is forecast to post earnings per share of €0.07 next year compared to a net loss per share of €0.22 last year. Tillkännagivande • Aug 01
Pyramid AG, Annual General Meeting, Sep 06, 2024 Pyramid AG, Annual General Meeting, Sep 06, 2024, at 13:00 W. Europe Standard Time. New Risk • Jul 01
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risks Shareholders have been diluted in the past year (19% increase in shares outstanding). Market cap is less than US$100m (€22.8m market cap, or US$24.4m). New Risk • Nov 06
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 19% 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 No financial data reported. Minor Risks Share price has been volatile over the past 3 months (7.1% average weekly change). Shareholders have been diluted in the past year (19% increase in shares outstanding). Market cap is less than US$100m (€31.0m market cap, or US$33.2m).