New Risk • May 26
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2025. 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: Major Risks Less than 1 year of cash runway based on free cash flow trend (-zł6.2m free cash flow). Share price has been highly volatile over the past 3 months (14% average weekly change). Earnings have declined by 45% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported September 2025 fiscal period end). Shareholders have been diluted in the past year (18% increase in shares outstanding). Market cap is less than US$100m (zł45.5m market cap, or US$12.5m). Duyuru • Feb 09
Moliera2 S.A. to Report Q4, 2025 Results on Feb 11, 2026 Moliera2 S.A. announced that they will report Q4, 2025 results on Feb 11, 2026 New Risk • Nov 24
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 18% 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 Risks Less than 1 year of cash runway based on free cash flow trend (-zł6.2m free cash flow). Share price has been highly volatile over the past 3 months (13% average weekly change). Earnings have declined by 45% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (18% increase in shares outstanding). Market cap is less than US$100m (zł54.3m market cap, or US$14.8m). Duyuru • Nov 06
Moliera2 S.A. to Report Q3, 2025 Results on Nov 06, 2025 Moliera2 S.A. announced that they will report Q3, 2025 results on Nov 06, 2025 New Risk • Nov 18
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 50% 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 (-zł9.5m free cash flow). Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 44% per year over the past 5 years. Shareholders have been substantially diluted in the past year (50% increase in shares outstanding). Minor Risk Market cap is less than US$100m (zł43.0m market cap, or US$10.5m). Reported Earnings • Nov 10
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: zł19.5m (flat on 3Q 2023). Net loss: zł4.42m (loss narrowed 11% from 3Q 2023). Buy Or Sell Opportunity • Oct 30
Now 32% overvalued after recent price rise Over the last 90 days, the stock has risen 2.5% to zł0.082. The fair value is estimated to be zł0.062, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 51% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Sep 20
Now 22% overvalued The stock has been flat over the last 90 days, currently trading at zł0.073. The fair value is estimated to be zł0.06, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 51% over the last 3 years. Meanwhile, the company became loss making. New Risk • Sep 17
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 Risks No financial data reported. Share price has been highly volatile over the past 3 months (14% average weekly change). Market cap is less than US$10m (zł25.6m market cap, or US$6.69m). Minor Risk Shareholders have been diluted in the past year (11% increase in shares outstanding). Buy Or Sell Opportunity • Aug 01
Now 28% overvalued Over the last 90 days, the stock has fallen 8.6% to zł0.08. The fair value is estimated to be zł0.063, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 51% over the last 3 years. Meanwhile, the company became loss making. Duyuru • Jun 05
Moliera2 S.A., Annual General Meeting, Jun 27, 2024 Moliera2 S.A., Annual General Meeting, Jun 27, 2024. New Risk • Apr 08
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: zł38.9m (US$9.90m) 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 Share price has been highly volatile over the past 3 months (19% average weekly change). Earnings have declined by 42% per year over the past 5 years. Market cap is less than US$10m (zł38.9m market cap, or US$9.90m). Minor Risk Shareholders have been diluted in the past year (12% increase in shares outstanding). Reported Earnings • Feb 14
Full year 2023 earnings released: zł0.039 loss per share (vs zł0.03 loss in FY 2022) Full year 2023 results: zł0.039 loss per share (further deteriorated from zł0.03 loss in FY 2022). Revenue: zł87.5m (down 30% from FY 2022). Net loss: zł15.0m (loss widened 27% from FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 63 percentage points per year, which is a significant difference in performance. New Risk • Jan 19
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 4.1% 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 Risks Share price has been highly volatile over the past 3 months (21% average weekly change). Earnings have declined by 39% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (4.1% increase in shares outstanding). Market cap is less than US$100m (zł44.9m market cap, or US$11.2m). Reported Earnings • Nov 19
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: zł19.5m (down 43% from 3Q 2022). Net loss: zł4.99m (loss widened 128% from 3Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 46 percentage points per year, which is a significant difference in performance. New Risk • Aug 18
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: zł40.4m (US$9.80m) 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 (-zł9.4m free cash flow). Share price has been highly volatile over the past 3 months (14% average weekly change). Earnings have declined by 15% per year over the past 5 years. Market cap is less than US$10m (zł40.4m market cap, or US$9.80m). Duyuru • Jun 04
Moliera2 S.A., Annual General Meeting, Jun 30, 2023 Moliera2 S.A., Annual General Meeting, Jun 30, 2023, at 11:00 Central European Standard Time. Reported Earnings • Feb 16
Full year 2021 earnings: Revenues in line with analyst expectations Full year 2021 results: Revenue: zł44.8m (up 191% from FY 2020). Net loss: zł728.2k (down 106% from profit in FY 2020). Revenue was in line with analyst estimates. Valuation Update With 7 Day Price Move • Sep 16
Investor sentiment improved over the past week After last week's 16% share price gain to zł1.33, the stock trades at a trailing P/E ratio of 16.5x. Average trailing P/E is 35x in the Online Retail industry in Poland. Total returns to shareholders of 393% over the past year. Valuation Update With 7 Day Price Move • Aug 30
Investor sentiment deteriorated over the past week After last week's 36% share price decline to zł1.02, the stock trades at a trailing P/E ratio of 9.2x. Average trailing P/E is 30x in the Online Retail industry in Poland. Total returns to shareholders of 143% over the past year. Valuation Update With 7 Day Price Move • Aug 12
Investor sentiment improved over the past week After last week's 20% share price gain to zł1.80, the stock trades at a trailing P/E ratio of 16.2x. Average trailing P/E is 27x in the Online Retail industry in Poland. Total returns to shareholders of 210% over the past year. Valuation Update With 7 Day Price Move • Jul 28
Investor sentiment improved over the past week After last week's 34% share price gain to zł1.60, the stock trades at a trailing P/E ratio of 14.4x. Average trailing P/E is 26x in the Online Retail industry in Poland. Total returns to shareholders of 662% over the past three years. Valuation Update With 7 Day Price Move • Jul 04
Investor sentiment deteriorated over the past week After last week's 20% share price decline to zł1.30, the stock trades at a trailing P/E ratio of 11.7x. Average trailing P/E is 27x in the Online Retail industry in Poland. Total returns to shareholders of 519% over the past three years. Valuation Update With 7 Day Price Move • Jun 16
Investor sentiment deteriorated over the past week After last week's 25% share price decline to zł1.44, the stock trades at a trailing P/E ratio of 13x. Average trailing P/E is 27x in the Online Retail industry in Poland. Total returns to shareholders of 414% over the past three years. Valuation Update With 7 Day Price Move • May 20
Investor sentiment improved over the past week After last week's 16% share price gain to zł2.32, the stock trades at a trailing P/E ratio of 20.9x. Average trailing P/E is 26x in the Online Retail industry in Poland. Total returns to shareholders of 373% over the past three years. Valuation Update With 7 Day Price Move • Apr 29
Investor sentiment deteriorated over the past week After last week's 22% share price decline to zł2.10, the stock trades at a trailing P/E ratio of 18.9x. Average trailing P/E is 26x in the Online Retail industry in Poland. Total returns to shareholders of 1,029% over the past year. Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment improved over the past week After last week's 73% share price gain to zł1.30, the stock trades at a trailing P/E ratio of 10.5x. Average trailing P/E is 27x in the Online Retail industry in Poland. Total returns to shareholders of 1,200% over the past year. Valuation Update With 7 Day Price Move • Mar 23
Investor sentiment improved over the past week After last week's 76% share price gain to zł1.50, the stock trades at a trailing P/E ratio of 12.1x. Average trailing P/E is 27x in the Online Retail industry in Poland. Total returns to shareholders of 1,264% over the past year. Reported Earnings • Feb 14
Full year 2020 earnings released: EPS zł0.12 (vs zł0.077 loss in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: zł15.4m (up zł15.2m from FY 2019). Net income: zł14.5m (up zł23.5m from FY 2019). Profit margin: 94% (up from net loss in FY 2019). The move to profitability was primarily driven by higher revenue. Is New 90 Day High Low • Feb 12
New 90-day high: zł0.80 The company is up 60% from its price of zł0.50 on 13 November 2020. The Polish market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Online Retail industry, which is down 9.0% over the same period. Is New 90 Day High Low • Dec 17
New 90-day high: zł0.69 The company is up 97% from its price of zł0.35 on 18 September 2020. The Polish market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Online Retail industry, which is up 26% over the same period.