Q2 2026 report
Spółka gamingowa w stanie faktycznego zatrzymania działalności komercyjnej — sprzedaż produktów w Q2 2026 wyniosła 5 820,53 zł (-92,5% r/r), narastająco za półrocze 9 757,77 zł.
Sentiment
●●●●●●
ATJ
Q2 2026 report
Revenue
77,528 PLN
— YoY
Net income
-12,726 PLN
— YoY
EBITDA
-64,193 PLN
— YoY
FCF
-86,280 PLN
— YoY
Summary
Investment thesis
- Ostry kryzys płynności: 1 364,51 zł środków pieniężnych na 30.06.2026 r. przy kwartalnym ujemnym przepływie operacyjnym -86 279,67 zł.
- Akcjonariusz Taurus Foundation wypowiedział 12.06.2026 r. umowę pożyczki w trybie natychmiastowym i wezwał Spółkę do zapłaty 181 000 zł wraz z odsetkami — kwoty nieobsługiwalnej z bieżących zasobów.
- 96% aktywów (2 528 015,78 zł) to skapitalizowane koszty produkcji gier w pozycji 'półprodukty i produkty w toku', bez żadnego odpisu aktualizującego mimo premiery gry planowanej na 30.03.2026 r. i praktycznie zerowych przychodów.
- Paraliż zarządczy — brak stałego Prezesa Zarządu od 10.04.2026 r. (funkcję pełni oddelegowany członek Rady Nadzorczej), pełna wymiana Rady Nadzorczej w kwietniu 2026 r. oraz cztery zwroty strategiczne w cztery miesiące.
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Financials
BETA
ATJ · Q2 2026
| Metric | Q2 2026 | Q2 2025 | Δ YoY | YTD 2026 | Δ YoY | Value type | Segment | Conf. |
|---|---|---|---|---|---|---|---|---|
| Revenue | 77,528 | — | — | 88,926 | — | reported | — | 1.00 |
| EBITDA | -64,193 | — | — | -120,953 | — | derived | — | 1.00 |
| EBIT | -7,537 | — | — | -120,953 | — | reported | — | 1.00 |
| EBT | -64,448 | — | — | -120,970 | — | reported | — | 1.00 |
| Net income | -12,726 | — | — | -128,031 | — | reported | — | 1.00 |
| EPS (basic) | -0.02 | — | — | -0.04 | — | reported | — | 0.90 |
| D&A | 0 | — | — | — | — | reported | — | 1.00 |
| Interest expense | 0 | — | — | — | — | reported | — | 1.00 |
| Income tax | 7,061 | — | — | — | — | reported | — | 1.00 |
| Shares (basic) (units) | 2,963,900 | — | — | — | — | reported | — | 1.00 |
| EBITDA margin | -1102.88% | — | — | — | — | reported | — | 0.90 |
| EBIT margin | -1102.88% | — | — | — | — | reported | — | 0.90 |
| EBT margin | -1107.25% | — | — | — | — | reported | — | 0.90 |
| Net margin | -1228.56% | — | — | — | — | reported | — | 0.90 |
| Cash | 25,167 | — | — | — | — | reported | — | 1.00 |
| Total debt | 181,601 | — | — | — | — | derived | — | 0.60 |
| Net debt | 180,236 | — | — | — | — | derived | — | 0.60 |
| Equity | 1,461,483 | — | — | — | — | reported | — | 1.00 |
| Total assets | 2,439,355 | — | — | — | — | reported | — | 1.00 |
| Working capital | 2,240,153 | — | — | — | — | reported | — | 1.00 |
| Current assets | 2,604,802 | — | — | — | — | reported | — | 1.00 |
| Current liabilities | 364,649 | — | — | — | — | reported | — | 1.00 |
| Non-current liabilities | 0 | — | — | — | — | reported | — | 1.00 |
| Inventory | 2,367,407 | — | — | — | — | reported | — | 1.00 |
| Trade receivables | 75,313 | — | — | — | — | reported | — | 1.00 |
| CFO | 48,087 | — | — | -180,388 | — | reported | — | 1.00 |
| CapEx | 0 | — | — | — | — | reported | — | 1.00 |
| FCF | -86,280 | — | — | -180,388 | — | reported | — | 1.00 |
| Dividends paid | 0 | — | — | — | — | reported | — | 1.00 |
| Current ratio | 7.14x | — | — | — | — | reported | — | 1.00 |
| Quick ratio | 0.21x | — | — | — | — | reported | — | 1.00 |
| Cash ratio | 0x | — | — | — | — | reported | — | 1.00 |
| Debt / equity | 0.15x | — | — | — | — | reported | — | 0.60 |
| Debt / assets | 0.07x | — | — | — | — | reported | — | 0.60 |
| Net debt / equity | 0.15x | — | — | — | — | reported | — | 0.60 |
| Revenue growth (YoY) | -92.49% | — | — | -89.03% | — | reported | — | 1.00 |
| EBITDA growth (YoY) | -751.67% | — | — | — | — | reported | — | 1.00 |
| EBIT growth (YoY) | -751.67% | — | — | — | — | reported | — | 1.00 |
| Net income growth (YoY) | -461.93% | — | — | — | — | reported | — | 1.00 |
Q2 2026 · Δ YoY
Revenue
77,528
—
77,528
—
- Q2 2025
- —
- YTD 2026
- 88,926
- Δ YoY
- —
EBITDA
-64,193
—
-64,193
—
- Q2 2025
- —
- YTD 2026
- -120,953
- Δ YoY
- —
EBIT
-7,537
—
-7,537
—
- Q2 2025
- —
- YTD 2026
- -120,953
- Δ YoY
- —
EBT
-64,448
—
-64,448
—
- Q2 2025
- —
- YTD 2026
- -120,970
- Δ YoY
- —
Net income
-12,726
—
-12,726
—
- Q2 2025
- —
- YTD 2026
- -128,031
- Δ YoY
- —
EPS (basic)
-0.02
—
-0.02
—
- Q2 2025
- —
- YTD 2026
- -0.04
- Δ YoY
- —
D&A
0
—
0
—
- Q2 2025
- —
- YTD 2026
- —
- Δ YoY
- —
Interest expense
0
—
0
—
- Q2 2025
- —
- YTD 2026
- —
- Δ YoY
- —
Income tax
7,061
—
7,061
—
- Q2 2025
- —
- YTD 2026
- —
- Δ YoY
- —
Shares (basic)
(units)
2,963,900
—
2,963,900
—
- Q2 2025
- —
- YTD 2026
- —
- Δ YoY
- —
EBITDA margin
-1102.88%
—
-1102.88%
—
- Q2 2025
- —
- YTD 2026
- —
- Δ YoY
- —
EBIT margin
-1102.88%
—
-1102.88%
—
- Q2 2025
- —
- YTD 2026
- —
- Δ YoY
- —
EBT margin
-1107.25%
—
-1107.25%
—
- Q2 2025
- —
- YTD 2026
- —
- Δ YoY
- —
Net margin
-1228.56%
—
-1228.56%
—
- Q2 2025
- —
- YTD 2026
- —
- Δ YoY
- —
Cash
25,167
—
25,167
—
- Q2 2025
- —
- YTD 2026
- —
- Δ YoY
- —
Total debt
181,601
—
181,601
—
- Q2 2025
- —
- YTD 2026
- —
- Δ YoY
- —
Net debt
180,236
—
180,236
—
- Q2 2025
- —
- YTD 2026
- —
- Δ YoY
- —
Equity
1,461,483
—
1,461,483
—
- Q2 2025
- —
- YTD 2026
- —
- Δ YoY
- —
Total assets
2,439,355
—
2,439,355
—
- Q2 2025
- —
- YTD 2026
- —
- Δ YoY
- —
Working capital
2,240,153
—
2,240,153
—
- Q2 2025
- —
- YTD 2026
- —
- Δ YoY
- —
Current assets
2,604,802
—
2,604,802
—
- Q2 2025
- —
- YTD 2026
- —
- Δ YoY
- —
Current liabilities
364,649
—
364,649
—
- Q2 2025
- —
- YTD 2026
- —
- Δ YoY
- —
Non-current liabilities
0
—
0
—
- Q2 2025
- —
- YTD 2026
- —
- Δ YoY
- —
Inventory
2,367,407
—
2,367,407
—
- Q2 2025
- —
- YTD 2026
- —
- Δ YoY
- —
Trade receivables
75,313
—
75,313
—
- Q2 2025
- —
- YTD 2026
- —
- Δ YoY
- —
CFO
48,087
—
48,087
—
- Q2 2025
- —
- YTD 2026
- -180,388
- Δ YoY
- —
CapEx
0
—
0
—
- Q2 2025
- —
- YTD 2026
- —
- Δ YoY
- —
FCF
-86,280
—
-86,280
—
- Q2 2025
- —
- YTD 2026
- -180,388
- Δ YoY
- —
Dividends paid
0
—
0
—
- Q2 2025
- —
- YTD 2026
- —
- Δ YoY
- —
Current ratio
7.14x
—
7.14x
—
- Q2 2025
- —
- YTD 2026
- —
- Δ YoY
- —
Quick ratio
0.21x
—
0.21x
—
- Q2 2025
- —
- YTD 2026
- —
- Δ YoY
- —
Cash ratio
0x
—
0x
—
- Q2 2025
- —
- YTD 2026
- —
- Δ YoY
- —
Debt / equity
0.15x
—
0.15x
—
- Q2 2025
- —
- YTD 2026
- —
- Δ YoY
- —
Debt / assets
0.07x
—
0.07x
—
- Q2 2025
- —
- YTD 2026
- —
- Δ YoY
- —
Net debt / equity
0.15x
—
0.15x
—
- Q2 2025
- —
- YTD 2026
- —
- Δ YoY
- —
Revenue growth (YoY)
-92.49%
—
-92.49%
—
- Q2 2025
- —
- YTD 2026
- -89.03%
- Δ YoY
- —
EBITDA growth (YoY)
-751.67%
—
-751.67%
—
- Q2 2025
- —
- YTD 2026
- —
- Δ YoY
- —
EBIT growth (YoY)
-751.67%
—
-751.67%
—
- Q2 2025
- —
- YTD 2026
- —
- Δ YoY
- —
Net income growth (YoY)
-461.93%
—
-461.93%
—
- Q2 2025
- —
- YTD 2026
- —
- Δ YoY
- —