New Risk • Jun 25
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Polish stocks, typically moving 11% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-zł208k free cash flow). Share price has been highly volatile over the past 3 months (11% average weekly change). Revenue is less than US$1m (zł180k revenue, or US$48k). Minor Risk Market cap is less than US$100m (zł99.6m market cap, or US$26.3m). Tillkännagivande • Jun 05
hiPower Energy SA, Annual General Meeting, Jun 30, 2026 hiPower Energy SA, Annual General Meeting, Jun 30, 2026. Tillkännagivande • Feb 11
hiPower Energy SA to Report Q4, 2025 Results on Feb 13, 2026 hiPower Energy SA announced that they will report Q4, 2025 results on Feb 13, 2026 Tillkännagivande • Nov 07
hiPower Energy SA to Report Q3, 2025 Results on Nov 10, 2025 hiPower Energy SA announced that they will report Q3, 2025 results on Nov 10, 2025 New Risk • Aug 27
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -zł262k This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-zł262k free cash flow). Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 25% per year over the past 5 years. Shareholders have been substantially diluted in the past year (301% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (zł371.3m market cap, or US$97.0m). New Risk • Jul 22
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: zł366.6m (US$93.3m) 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 Risks Earnings have declined by 5.9% per year over the past 5 years. Shareholders have been substantially diluted in the past year (301% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (zł366.6m market cap, or US$93.3m). Tillkännagivande • Jun 25
hiPower Energy SA to Report Fiscal Year 2023 Results on Jul 12, 2024 hiPower Energy SA announced that they will report fiscal year 2023 results at 5:30 PM, Central European Standard Time on Jul 12, 2024 Tillkännagivande • Jun 05
hiPower Energy SA, Annual General Meeting, Jun 28, 2024 hiPower Energy SA, Annual General Meeting, Jun 28, 2024. 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 Polish stocks, typically moving 9.6% 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 Less than 1 year of cash runway based on free cash flow trend (-zł601k free cash flow). Share price has been highly volatile over the past 3 months (9.6% average weekly change). Shareholders have been substantially diluted in the past year (301% increase in shares outstanding). Revenue is less than US$1m. New Risk • Apr 05
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 301% 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 (-zł601k free cash flow). Shareholders have been substantially diluted in the past year (301% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Share price has been volatile over the past 3 months (9.2% average weekly change). Reported Earnings • Nov 19
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: zł966.6k (down 12% from 3Q 2022). Net loss: zł498.2k (loss narrowed 65% from 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Reported Earnings • Aug 13
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: zł880.2k (up 44% from 2Q 2022). Net loss: zł641.6k (loss narrowed 58% from 2Q 2022). Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Jul 29
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Polish stocks, typically moving 10% 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 Less than 1 year of cash runway based on free cash flow trend (-zł3.3m free cash flow). Share price has been highly volatile over the past 3 months (10% average weekly change). Minor Risks Shareholders have been diluted in the past year (4.9% increase in shares outstanding). Revenue is less than US$5m (zł4.4m revenue, or US$1.1m). Market cap is less than US$100m (zł123.1m market cap, or US$30.8m). Tillkännagivande • Jun 04
Arena.pl S.A., Annual General Meeting, Jun 29, 2023 Arena.pl S.A., Annual General Meeting, Jun 29, 2023, at 10:00 Central European Standard Time. Reported Earnings • Feb 18
Full year 2022 earnings released: zł0.079 loss per share (vs zł0.076 loss in FY 2021) Full year 2022 results: zł0.079 loss per share (further deteriorated from zł0.076 loss in FY 2021). Revenue: zł3.76m (up 125% from FY 2021). Net loss: zł5.96m (loss widened 3.3% from FY 2021). Over the last 3 years on average, earnings per share has increased by 24% per year whereas the company’s share price has increased by 21% per year. Tillkännagivande • Jun 07
Arena.pl S.A., Annual General Meeting, Jun 30, 2022 Arena.pl S.A., Annual General Meeting, Jun 30, 2022, at 09:00 Central European Standard Time. Reported Earnings • May 17
First quarter 2022 earnings released First quarter 2022 results: Revenue: zł425.1k (up 105% from 1Q 2021). Net loss: zł1.71m (loss widened 89% from 1Q 2021). Is New 90 Day High Low • Mar 08
New 90-day high: zł1.62 The company is up 5.0% from its price of zł1.55 on 08 December 2020. The Polish market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Online Retail industry, which is down 14% over the same period. Is New 90 Day High Low • Feb 04
New 90-day low: zł1.35 The company is down 21% from its price of zł1.70 on 06 November 2020. The Polish market is up 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Online Retail industry, which is down 18% over the same period. Is New 90 Day High Low • Oct 01
New 90-day high: zł1.77 The company is up 79% from its price of zł0.99 on 03 July 2020. The Polish market is down 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Online Retail industry, which is up 20% over the same period. Tillkännagivande • Aug 15
Arena.pl S.A. announced that it has received PLN 11.488291 million in funding Arena.pl S.A. (WSE:ARE) announced that it has issued 22,976,582 series J common shares at an issue price of PLN 0.5 per share for gross proceeds of PLN 11,488,291 on August 14, 2020. As a result, the share capital of the company has increased from PLN 19,485,224 to PLN 30,973,515. 
