Reported Earnings • May 17
First quarter 2026 earnings released: ฿0.019 loss per share (vs ฿0.015 loss in 1Q 2025) First quarter 2026 results: ฿0.019 loss per share (further deteriorated from ฿0.015 loss in 1Q 2025). Revenue: ฿30.2m (down 22% from 1Q 2025). Net loss: ฿31.6m (loss widened 57% from 1Q 2025). Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has increased by 116% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Apr 22
DV8 Public Company Limited (SET:DV8) acquired 99.99% stake in Rakkar Digital Co., Ltd. DV8 Public Company Limited (SET:DV8) entered into the Share Sale and Purchase Agreement to acquire Rakkar Digital Co., Ltd. on March 24, 2026. The Company will utilize internal working capital for the transaction.
The transaction is subject to approval by regulatory board / committee.
DV8 Public Company Limited (SET:DV8) completed the acquisition of 99.99% stake in Rakkar Digital Co., Ltd. on April 20, 2026. Duyuru • Mar 26
DV8 Public Company Limited (SET:DV8) entered into the Share Sale and Purchase Agreement to acquire Rakkar Digital Co., Ltd. DV8 Public Company Limited (SET:DV8) entered into the Share Sale and Purchase Agreement to acquire Rakkar Digital Co., Ltd. on March 24, 2026. The Company will utilize internal working capital for the transaction.
The transaction is subject to approval by regulatory board / committee. Reported Earnings • Feb 27
Full year 2025 earnings released Full year 2025 results: Revenue: ฿148.2m (up 4.6% from FY 2024). Net loss: ฿39.9m (down ฿43.4m from profit in FY 2024). Over the last 3 years on average, earnings per share has increased by 109% per year but the company’s share price has only increased by 87% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Dec 12
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ฿4.08, the stock trades at a trailing P/E ratio of 45.8x. Average trailing P/E is 12x in the Entertainment industry in Thailand. Total returns to shareholders of 483% over the past three years. Valuation Update With 7 Day Price Move • Nov 20
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ฿5.00, the stock trades at a trailing P/E ratio of 56.1x. Average trailing P/E is 12x in the Entertainment industry in Thailand. Total returns to shareholders of 635% over the past three years. Reported Earnings • Nov 14
Third quarter 2025 earnings released: EPS: ฿0.11 (vs ฿0.008 in 3Q 2024) Third quarter 2025 results: EPS: ฿0.11 (up from ฿0.008 in 3Q 2024). Revenue: ฿36.4m (down 17% from 3Q 2024). Net income: ฿167.3m (up ฿156.3m from 3Q 2024). Over the last 3 years on average, earnings per share has increased by 96% per year whereas the company’s share price has increased by 93% per year. Reported Earnings • Aug 15
Second quarter 2025 earnings released: ฿0.001 loss per share (vs ฿0.001 profit in 2Q 2024) Second quarter 2025 results: ฿0.001 loss per share (down from ฿0.001 profit in 2Q 2024). Revenue: ฿33.9m (up 5.6% from 2Q 2024). Net loss: ฿1.28m (down 170% from profit in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has increased by 82% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Jul 26
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 23% 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 Share price has been highly volatile over the past 3 months (31% average weekly change). Minor Risks Shareholders have been diluted in the past year (23% increase in shares outstanding). Revenue is less than US$5m (฿159m revenue, or US$4.9m). Duyuru • Jul 04
210K Capital managed by UTXO Management GP, LP, Kliff Capital, Moon Inc. (SEHK:1723), Mythos Ventures Fund I, L.P., Mythos Ventures, SORA SPIRAL PTE. LTD., ASIASTRATEGY TOPWIN SG PTE. LIMITED, Mythos BitYield Company Limited and Simon Morris Gerovich proposed to acquire DV8 Public Company Limited (SET:DV8) for approximately THB 740 million. 210K Capital managed by UTXO Management GP, LP, Kliff Capital, Moon Inc. (SEHK:1723), Mythos Ventures Fund I, L.P., Mythos Ventures, SORA SPIRAL PTE. LTD., ASIASTRATEGY TOPWIN SG PTE. LIMITED, Mythos BitYield Company Limited and Simon Morris Gerovich proposed to acquire DV8 Public Company Limited (SET:DV8) for approximately THB 740 million on July 3, 2025. A cash consideration of THB 739.16 million valued at THB 0.56 per share will be paid by 210K Capital managed by UTXO Management GP, LP, Kliff Capital, Moon Inc. (SEHK:1723), Mythos Ventures Fund I, L.P., Mythos Ventures, SORA SPIRAL PTE. LTD., ASIASTRATEGY TOPWIN SG PTE. LIMITED, Mythos BitYield Company Limited and Simon Morris Gerovich. As part of consideration, THB 739.16 million is paid towards common equity of DV8 Public Company Limited. The expected completion of the transaction is on or about August 20, 2025
MSC International Law Office acted as legal advisor for DV8 Public Company Limited. Reported Earnings • May 14
First quarter 2025 earnings released: ฿0.015 loss per share (vs ฿0.006 loss in 1Q 2024) First quarter 2025 results: ฿0.015 loss per share (further deteriorated from ฿0.006 loss in 1Q 2024). Revenue: ฿38.8m (up 78% from 1Q 2024). Net loss: ฿20.1m (loss widened 147% from 1Q 2024). Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 52% per year, which means it is significantly lagging earnings growth. New Risk • Apr 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 Thai stocks, typically moving 12% 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 (12% average weekly change). Minor Risks Revenue is less than US$5m (฿142m revenue, or US$4.2m). Market cap is less than US$100m (฿857.9m market cap, or US$25.6m). Reported Earnings • Feb 26
Full year 2024 earnings released: EPS: ฿0.003 (vs ฿0.035 loss in FY 2023) Full year 2024 results: EPS: ฿0.003 (up from ฿0.035 loss in FY 2023). Revenue: ฿141.8m (up 5.3% from FY 2023). Net income: ฿3.43m (up ฿39.1m from FY 2023). Profit margin: 2.4% (up from net loss in FY 2023). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has fallen by 35% per year, which means it is significantly lagging earnings. Duyuru • Feb 26
DV8 Public Company Limited, Annual General Meeting, Apr 25, 2025 DV8 Public Company Limited, Annual General Meeting, Apr 25, 2025, at 13:00 SE Asia Standard Time. Location: at the yulania iv-vi conference room, 9th floor, waldorf astoria bangkok hotel, located at, 151, ratchadamri road, lumpini subdistrict, pathumwan district, bangkok, 10330 Thailand Reported Earnings • Aug 14
Second quarter 2024 earnings released: EPS: ฿0.001 (vs ฿0.016 loss in 2Q 2023) Second quarter 2024 results: EPS: ฿0.001 (up from ฿0.016 loss in 2Q 2023). Revenue: ฿32.1m (down 1.0% from 2Q 2023). Net income: ฿1.82m (up ฿13.7m from 2Q 2023). Profit margin: 5.7% (up from net loss in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Duyuru • Jul 31
Dv8 Public Company Limited Appoints Mr. Worawong Rakhangthong as Independent Director and the Audit Committee Member DV8 Public Company Limited at its board meeting held on July 25 2024 approved to appoint Mr. Worawong Rakhangthong as the Independent Director and the Audit Committee Member instead of the resigned director. Such appointment is effective as July 25, 2024. Duyuru • Jul 02
DV8 Public Company Limited Appoints Supannee Klammanee as Chief Financial Officer DV8 Public Company Limited announced appointment of Miss Supannee Klammanee as chief financial officer. Effective date of appointment is 1 July 2024. Duyuru • Jul 01
DV8 Public Company Limited Announces Resignation of Suchart Dejittirut as Independent Director and Audit Committee Member DV8 Public Company Limited announced that Mr. Suchart Dejittirut has tendered his resignation from the positions of independent director and audit committee member due to personal commitment. The resignation shall be effective on 1 July 2024. Reported Earnings • May 16
First quarter 2024 earnings released: ฿0.006 loss per share (vs ฿0.021 loss in 1Q 2023) First quarter 2024 results: ฿0.006 loss per share (improved from ฿0.021 loss in 1Q 2023). Revenue: ฿21.9m (down 3.6% from 1Q 2023). Net loss: ฿8.15m (loss narrowed 47% from 1Q 2023). Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 27% per year, which means it is significantly lagging earnings. New Risk • Apr 18
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 Thai stocks, typically moving 6.0% 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: Major Risk Shareholders have been substantially diluted in the past year (85% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (6.0% average weekly change). Revenue is less than US$5m (฿135m revenue, or US$3.7m). Market cap is less than US$100m (฿541.2m market cap, or US$14.7m). Reported Earnings • Mar 01
Full year 2023 earnings released: ฿0.035 loss per share (vs ฿0.02 loss in FY 2022) Full year 2023 results: ฿0.035 loss per share (further deteriorated from ฿0.02 loss in FY 2022). Revenue: ฿134.6m (down 48% from FY 2022). Net loss: ฿35.7m (loss widened 150% from FY 2022). Over the last 3 years on average, earnings per share has fallen by 15% per year whereas the company’s share price has fallen by 14% per year. Reported Earnings • Nov 11
Third quarter 2023 earnings released: ฿0.018 loss per share (vs ฿0.012 loss in 3Q 2022) Third quarter 2023 results: ฿0.018 loss per share (further deteriorated from ฿0.012 loss in 3Q 2022). Revenue: ฿28.5m (down 23% from 3Q 2022). Net loss: ฿12.8m (loss widened 54% from 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 13
Second quarter 2023 earnings released: ฿0.016 loss per share (vs ฿0.005 loss in 2Q 2022) Second quarter 2023 results: ฿0.016 loss per share (further deteriorated from ฿0.005 loss in 2Q 2022). Revenue: ฿32.4m (down 23% from 2Q 2022). Net loss: ฿11.9m (loss widened 223% from 2Q 2022). Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Duyuru • Jul 25
DV8 Public Company Limited Announces Change of Company Secretary, Effective 15 August 2023 DV8 Public Company Limited announced that Ms. Kochakorn Ruksasuk has resigned from the position of the Company Secretary, effective from 15 August 2023 onwards. The Board of Directors' Meeting No. 9/2023 held on 20 July 2023 had resolved to appoint Mr. Nathaphol Kasamvilas, Chief Executive Officer to be an acting Company Secretary, effective from 15 August 2023 onwards. New Risk • Jun 30
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 85% 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 Share price has been highly volatile over the past 3 months (12% average weekly change). Shareholders have been substantially diluted in the past year (85% increase in shares outstanding). Minor Risk Market cap is less than US$100m (฿752.4m market cap, or US$21.1m). Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 5 independent directors on the board. The company's board is composed of: 5 independent directors. 6 non-independent directors. Independent Director Suchart Dejittirut was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 14
Second quarter 2022 earnings released: ฿0.003 loss per share (vs ฿0.013 loss in 2Q 2021) Second quarter 2022 results: ฿0.003 loss per share (up from ฿0.013 loss in 2Q 2021). Revenue: ฿41.9m (up 56% from 2Q 2021). Net loss: ฿3.68m (loss narrowed 80% from 2Q 2021). Over the last 3 years on average, earnings per share has increased by 110% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 16
First quarter 2022 earnings released: ฿0.003 loss per share (vs ฿0.007 loss in 1Q 2021) First quarter 2022 results: ฿0.003 loss per share (up from ฿0.007 loss in 1Q 2021). Revenue: ฿24.8m (down 75% from 1Q 2021). Net loss: ฿4.86m (loss narrowed 50% from 1Q 2021). Over the last 3 years on average, earnings per share has increased by 111% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 5 independent directors. 6 non-independent directors. Independent Director Suchart Dejittirut was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Feb 27
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: ฿0.033 loss per share (down from ฿0.001 profit in FY 2020). Revenue: ฿195.6m (up 11% from FY 2020). Net loss: ฿47.4m (down ฿48.5m from profit in FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 106% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Duyuru • Feb 15
DV8 Public Company Limited Announces Resignation of Nataya Ouivirach as Director DV8 Public Company Limited announced that Miss Nataya Ouivirach has submitted the notice of her resignation as Independent Director, Director of Audit Committee and Director of Human resource and Remuneration of DV8 Public Company Limited due to her various personal matters result in lacking time for performing her duties for the Company, effective from February 11th, 2022. Executive Departure • Dec 01
CEO & Director Sureeporn Udompolvanich has left the company On the 28th of November, Sureeporn Udompolvanich's tenure as CEO & Director of the company ended after 2.3 years in the role. We don't have any record of a personal shareholding under Sureeporn's name. A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 2.04 years. Under Sureeporn's leadership, the company delivered a total shareholder return of 23%. Reported Earnings • Aug 13
Second quarter 2021 earnings released: ฿0.013 loss per share (vs ฿0.003 loss in 2Q 2020) The company reported a soft second quarter result with increased losses and weaker control over costs, although revenues improved. Second quarter 2021 results: Revenue: ฿26.8m (up 28% from 2Q 2020). Net loss: ฿18.3m (loss widened 344% from 2Q 2020). Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has fallen by 46% per year, which means it is significantly lagging earnings. Reported Earnings • May 17
First quarter 2021 earnings released: ฿0.007 loss per share (vs ฿0.005 profit in 1Q 2020) The company reported a decent first quarter result with improved revenues, although earnings and control over costs were weaker. First quarter 2021 results: Revenue: ฿100.2m (up 317% from 1Q 2020). Net loss: ฿9.75m (down 229% from profit in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has fallen by 39% per year, which means it is significantly lagging earnings. Executive Departure • Mar 09
Independent Director has left the company On the 25th of February, Soontorn Dentham's tenure as Independent Director ended after less than a year in the role. We don't have any record of a personal shareholding under Soontorn's name. A total of 4 executives have left over the last 12 months. Duyuru • Mar 03
DV8 Public Company Limited Announces Resignation of Soontorn Dentham as Independent Director DV8 Public Company Limited announced that Mr. Soontorn Dentham, Independent Director of the company has submitted the notice of his resignation as Independent Director of the company, effective from February 25th, 2021 onwards because he is engaged in other businesses. Therefore, he might not be able to fully perform his duties. Is New 90 Day High Low • Mar 01
New 90-day high: ฿0.35 The company is up 17% from its price of ฿0.30 on 01 December 2020. The Thai market is up 7.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Entertainment industry, which is up 20% over the same period. Reported Earnings • Feb 28
Full year 2020 earnings released: EPS ฿0.001 (vs ฿0.26 loss in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: ฿176.5m (up 331% from FY 2019). Net income: ฿1.16m (up ฿274.1m from FY 2019). Profit margin: 0.7% (up from net loss in FY 2019). Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has fallen by 55% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Jan 27
New 90-day low: ฿0.27 The company is down 10.0% from its price of ฿0.30 on 29 October 2020. The Thai market is up 25% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Entertainment industry, which is up 28% over the same period. Duyuru • Jan 22
DV8 Public Company Limited Appoints Mr. Tanai Charinsarn as an Independent Director The Board of Directors' Meeting of DV8 Public Company Limited held on January 21st, 2021 has passed the resolution to appoint Mr.Tanai Charinsarn as an independent director. The appointment is effective as of January 21, 2021. Duyuru • Dec 24
DV8 Public Company Limited Appoints Soontorn Dentham as an Independent Director The Board of Directors' Meeting of DV8 Public Company Limited held on December 23, 2020 has passed the resolution to appoint Mr. Soontorn Dentham as an independent director instead of the resigned director. The appointment is effective as of January 1st, 2021. Is New 90 Day High Low • Nov 24
New 90-day low: ฿0.28 The company is down 10.0% from its price of ฿0.31 on 26 August 2020. The Thai market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Entertainment industry, which is up 1.0% over the same period. Duyuru • Sep 26
DV8 Public Company Limited Approves Board Changes DV8 Public Company Limited at Board of Directors' Meeting held on September 25, 2020, approved to appoint Mr. Numchai Lowattanatakul as the Chairman of the Board of Directors, in addition to his position on the Board of Directors, with effect from September 25, 2020 in order to be in accordance with the corporate governance principle which prescribes that the Chairman of the Board of Directors should be the Independent Director. The company approved to appoint Mr. Prayont Lasua as the Vice Chairman of the Board of Directors with effect from September 25, 2020.