Tillkännagivande • Jun 30
Substrate Artificial Inteligence, S.A. announced that it expects to receive €39.2 million in funding from Spanish Society for Technological Transformation and other investors. Substrate Artificial Inteligence, S.A. announced a private placement to issue convertible bonds for the proceeds of €39,200,000 on June 29, 2026. The transaction involves participation of Spanish Society for Technological Transformation (the “SETT”) for €19,200,000, Loft Structured Opportunities Fund I and 8 International LTD as investors. The Financing remains subject to the signing of definitive agreement between the parties, which is expected to occur on June 30, 2026. Subject to such agreement, the investment is planned to be deployed in up to ten sequential monthly subscriptions. The bonds will mandatorily convert into shares on the three-year anniversary of the agreement. The convertible bonds have an interest rate of 7% per annum accruing from each subscription date. and have a maturity of three years. Convertible bonds that have not been redeemed or converted prior to the maturity date shall be converted into class A shares in Substrate AI provided that no event of default is then outstanding. Tillkännagivande • Jun 01
Substrate Artificial Inteligence, S.A., Annual General Meeting, Jun 29, 2026 Substrate Artificial Inteligence, S.A., Annual General Meeting, Jun 29, 2026. Location: avenida real fabrica de sedas 28, talavera de la reina, toledo., Spain Tillkännagivande • May 23
Substrate Artificial Inteligence, S.A., Annual General Meeting, Jun 23, 2025 Substrate Artificial Inteligence, S.A., Annual General Meeting, Jun 23, 2025. Location: avenida real fabrica de sedas 28, talavera de la reina, toledo., Spain Tillkännagivande • Oct 20
Substrate Artificial Inteligence to Delist from the AQSE Growth Market, Remains Listed on BME Growth Market Substrate Artificial Inteligence, S.A. announced its intention to withdraw both the Company's ordinary shares (class A shares) and the preference shares (class B shares) (together the ‘Shares’) from trading on the AQSE Growth Market (AQSE). Pursuant to the AQSE Access Rulebook, the Company is required to give 20 business days' notice of its intention to withdraw from trading on AQSE. Therefore, trading in the Shares will cease at 7:00 am UK time on 15 November 2024. The Company's Shares will continue to trade on the BME growth Market in Spain under ‘SAI’ and ‘SAI.B’. New Risk • Aug 01
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 Spanish stocks, typically moving 6.2% 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 (6.2% average weekly change). Shareholders have been substantially diluted in the past year (144% increase in shares outstanding). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (€2.2m net loss in 3 years). Market cap is less than US$100m (€11.6m market cap, or US$12.5m). Tillkännagivande • Jul 27
Substrate Artificial Inteligence, S.A. has filed a Follow-on Equity Offering in the amount of €8.259999 million. Substrate Artificial Inteligence, S.A. has filed a Follow-on Equity Offering in the amount of €8.259999 million.
Security Name: Class A Shares
Security Type: Common Stock
Securities Offered: 4,000,000
Price\Range: €0.5
Security Name: Class A Shares
Security Type: Common Stock
Securities Offered: 24,645,665
Price\Range: €0.254 Reported Earnings • May 02
Full year 2023 earnings: Revenues exceed analyst expectations Full year 2023 results: Revenue: €13.8m (up 199% from FY 2022). Net loss: €8.73m (loss narrowed 45% from FY 2022). Revenue exceeded analyst estimates by 32%. Revenue is forecast to grow 4.5% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Software industry in Europe. Tillkännagivande • Feb 28
Substrate Artificial Inteligence, S.A. to Report Q4, 2023 Results on Apr 30, 2024 Substrate Artificial Inteligence, S.A. announced that they will report Q4, 2023 results on Apr 30, 2024 New Risk • Jan 02
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 4.6% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 (13% average weekly change). Earnings are forecast to decline by an average of 4.6% per year for the foreseeable future. Shareholders have been substantially diluted in the past year (209% increase in shares outstanding). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (€5.6m net loss in 2 years). Market cap is less than US$100m (€15.3m market cap, or US$16.9m). Tillkännagivande • Dec 24
Substrate Artificial Inteligence, S.A., Annual General Meeting, Jan 19, 2024 Substrate Artificial Inteligence, S.A., Annual General Meeting, Jan 19, 2024, at 13:30 Central European Standard Time. Location: Calle María de Molina, 41, office 506, 28006 Madrid Spain New Risk • Aug 09
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €9.03m (US$9.91m) 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 Risks Less than 1 year of cash runway based on free cash flow trend (-€2.7m free cash flow). Share price has been highly volatile over the past 3 months (8.9% average weekly change). Shareholders have been substantially diluted in the past year (67% increase in shares outstanding). Market cap is less than US$10m (€9.03m market cap, or US$9.91m). Minor Risks Less than 3 years of financial data is available. Currently unprofitable and not forecast to become profitable over next 3 years (€2.8m net loss in 3 years). New Risk • Jun 24
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 51% This is considered a major 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 (-€2.7m free cash flow). Share price has been highly volatile over the past 3 months (14% average weekly change). Shareholders have been substantially diluted in the past year (51% increase in shares outstanding). Minor Risks Less than 3 years of financial data is available. Currently unprofitable and not forecast to become profitable over next 3 years (€3.8m net loss in 3 years). Market cap is less than US$100m (€9.46m market cap, or US$10.3m). Reported Earnings • Apr 17
Full year 2022 earnings released Full year 2022 results: Revenue: €4.63m (up 131% from FY 2021). Net loss: €15.9m (loss widened €15.3m from FY 2021). Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Software industry in Spain. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. was the last director to join the board, commencing their role in . The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. 
