I
0.28
-2.65%
Close of 6 Nov 2026, in PLN
At a glance
Figures in PLN, from our data supplier.
Revenue
PLN 190.1m
FY2016FY2025
Net income
−PLN 43.6m
FY2016FY2025
Free cash flow
−PLN 5.5m
FY2016FY2025
Shareholders' equity
−PLN 36.2m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 190.1m | PLN 185.2m | PLN 189.1m | PLN 239.5m | PLN 231.8m | PLN 156.3m | PLN 208.7m | PLN 242.3m | PLN 183.9m | PLN 205.2m |
| Operating income | −PLN 41.3m | −PLN 38.2m | −PLN 44.8m | −PLN 20.1m | −PLN 4.9m | −PLN 26.5m | −PLN 5.8m | −PLN 4.0m | −PLN 10.2m | −PLN 7.1m |
| Net income | −PLN 43.6m | −PLN 50.0m | −PLN 39.6m | −PLN 13.1m | −PLN 2.3m | −PLN 26.4m | −PLN 6.2m | −PLN 5.3m | −PLN 9.0m | −PLN 8.6m |
| Diluted earnings per share | -0.28 | -0.71 | -0.56 | -0.38 | -0.07 | -0.77 | -0.20 | -0.17 | -0.39 | -0.62 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | PLN 152.6m | PLN 165.7m | PLN 214.7m | PLN 121.3m | PLN 120.9m | PLN 131.2m | PLN 136.1m | PLN 128.8m | PLN 122.3m | PLN 121.3m |
| Cash and short-term investments | PLN 1.1m | PLN 581,000 | PLN 961,000 | PLN 616,000 | PLN 2.9m | PLN 6.1m | PLN 64,000 | PLN 1.1m | PLN 1.9m | PLN 1.1m |
| Total liabilities | PLN 188.8m | PLN 183.0m | PLN 211.1m | PLN 131.9m | PLN 117.8m | PLN 126.6m | PLN 112.7m | PLN 99.2m | PLN 101.8m | PLN 108.0m |
| Debt | PLN 46.4m | PLN 72.7m | PLN 98.0m | PLN 134.0m | PLN 44.0m | PLN 51.5m | PLN 19.8m | PLN 11.6m | PLN 14.0m | PLN 16.8m |
| Shareholders' equity | −PLN 36.2m | −PLN 17.3m | PLN 3.7m | −PLN 10.6m | PLN 3.1m | PLN 4.5m | PLN 23.5m | PLN 29.6m | PLN 20.5m | PLN 13.3m |
| Shares outstanding | 155m | 70m | 70m | 34m | 34m | 34m | 30m | 30m | 23m | 14m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −PLN 2.8m | PLN 5.5m | PLN 8.9m | PLN 4.7m | PLN 11.3m | −PLN 23.8m | −PLN 10.7m | −PLN 10.9m | −PLN 9.2m | PLN 14.7m |
| Capital spending | −PLN 2.7m | −PLN 3.4m | −PLN 1.3m | −PLN 8.9m | −PLN 6.2m | −PLN 4.0m | −PLN 4.4m | −PLN 1.3m | −PLN 2.7m | −PLN 3.6m |
| Free cash flow | −PLN 5.5m | PLN 2.2m | PLN 7.6m | −PLN 4.2m | PLN 5.1m | −PLN 27.8m | −PLN 15.1m | −PLN 12.2m | −PLN 11.9m | PLN 11.1m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 51.7m | PLN 55.6m | PLN 52.2m | PLN 42.1m | PLN 40.2m | PLN 44.5m | PLN 46.7m | PLN 48.7m |
| Operating income | −PLN 4.9m | −PLN 6.7m | −PLN 6.7m | −PLN 12.9m | −PLN 11.8m | −PLN 11.6m | −PLN 8.4m | −PLN 12.0m |
| Net income | −PLN 4.8m | −PLN 9.5m | −PLN 5.3m | −PLN 14.6m | −PLN 14.1m | −PLN 19.6m | −PLN 9.5m | −PLN 12.1m |
| Diluted earnings per share | -0.03 | -0.06 | -0.03 | -0.09 | -0.09 | -0.13 | -0.14 | -0.17 |
| Cash from operations | −PLN 6.0m | PLN 2.0m | PLN 5.0m | −PLN 18.0m | PLN 8.0m | −PLN 7.0m | −PLN 7.0m | PLN 9.0m |
| Capital spending | — | −PLN 1.0m | — | −PLN 1.0m | — | — | — | −PLN 1.0m |
| Free cash flow | — | PLN 1.0m | — | −PLN 19.0m | — | — | — | PLN 8.0m |
| Total assets | PLN 143.1m | PLN 152.6m | PLN 156.3m | PLN 164.9m | PLN 168.1m | PLN 165.7m | PLN 204.3m | PLN 192.9m |
| Cash and short-term investments | PLN 660,000 | PLN 1.1m | PLN 551,000 | PLN 221,000 | PLN 578,000 | PLN 581,000 | PLN 1.1m | PLN 507,000 |
| Debt | PLN 32.9m | PLN 24.8m | PLN 28.4m | PLN 32.4m | PLN 33.0m | PLN 36.9m | PLN 40.0m | PLN 41.4m |
| Shareholders' equity | −PLN 41.0m | −PLN 36.2m | −PLN 26.7m | −PLN 46.0m | −PLN 31.4m | −PLN 17.3m | PLN 2.5m | −PLN 17.2m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -7.4% | 4.0% | -1.2% |
| Operating income | 27.1% | 9.2% | 37.2% |
| Net income | 49.3% | 10.5% | 25.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -21.2% | -18.0% | -14.8% | -9.1% |
| Net margin | -24.9% | -18.2% | -14.7% | -9.3% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -1.6 | -0.8 | -1.9 | -2.3 | -16.2 | -1.4 | -10.0 | -10.7 | -5.8 | -3.2 |
| Price to sales | 0.4 | 0.2 | 0.4 | 0.1 | 0.2 | 0.2 | 0.3 | 0.2 | 0.3 | 0.1 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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