FY 2025 report
Dywersyfikacja do segmentu premium laptopow (Hyperbook) dodaje stabilne przychody poza nieprzewidywalnymi projektami gamedev; segment przyczynial sie 5 miesiecy i osiagnal 1.74m PLN przychodow przy marzy brutto ~13%
Sentiment
Cautious
No guidance change
OVI
FY 2025 report
Revenue
2.64 m PLN
— YoY
Net income
-2.71 m PLN
— YoY
EBITDA
-1.99 m PLN
— YoY
FCF
0.49 m PLN
— YoY
Summary
Investment thesis
- Dotacja Creative Europe 1.20m PLN (45% przychodow operacyjnych) finansuje B+R bez rozcienczenia udzialow; potencjal kolejnych grantow w pipeline
- OCF dodatni (+0.52m PLN) mimo glebokich strat ksiegowych; model bez intensywnego CAPEX (0.02m PLN) nie wymaga zewnetrznego finansowania operacyjnego
- Przejecie The Dust S.A. (po dacie bilansu) moze poszerzyc portfolio IP i zdolnosci produkcyjne; droga do dywersyfikacji rodzaju przychodow
- Brak zadluzenia dlugoterminowego minimalizuje ryzyko finansowe w krotkim terminie
Read the full analysis
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Financials
BETA
OVI · FY 2025
| Metric | FY 2025 | FY 2024 | Δ YoY | Value type | Segment | Conf. |
|---|---|---|---|---|---|---|
| Revenue | 2.64 | — | — | reported | — | 1.00 |
| EBITDA | -1.99 | — | — | reported | — | 0.95 |
| EBIT | -2.55 | — | — | reported | — | 1.00 |
| EBT | -2.71 | — | — | reported | — | 1.00 |
| Net income | -2.71 | — | — | reported | — | 1.00 |
| EPS (basic) (PLN) | -0.1 | — | — | reported | — | 0.90 |
| D&A | 0.56 | — | — | reported | — | 1.00 |
| Interest expense | 0.23 | — | — | reported | — | 0.80 |
| Shares (basic) (m units) | 26.34 | — | — | reported | — | 1.00 |
| EBITDA margin | -75.08% | — | — | reported | — | 0.95 |
| EBIT margin | -96.4% | — | — | reported | — | 1.00 |
| Net margin | -102.57% | — | — | reported | — | 1.00 |
| Cash | 0.38 | — | — | reported | — | 1.00 |
| Total debt | 0.68 | — | — | reported | — | 1.00 |
| Net debt | 0.3 | — | — | reported | — | 1.00 |
| Equity | 0.54 | — | — | reported | — | 1.00 |
| Total assets | 2.74 | — | — | reported | — | 1.00 |
| Working capital | -0.27 | — | — | reported | — | 1.00 |
| Current assets | 1.63 | — | — | reported | — | 1.00 |
| Current liabilities | 1.9 | — | — | reported | — | 1.00 |
| Goodwill | 0.79 | — | — | reported | — | 1.00 |
| CFO | 0.52 | — | — | reported | — | 1.00 |
| CapEx | 0.02 | — | — | reported | — | 1.00 |
| FCF | 0.49 | — | — | reported | — | 1.00 |
| ROE | -363.9% | — | — | reported | — | 0.90 |
| Current ratio | 0.86x | — | — | reported | — | 1.00 |
| Revenue growth (YoY) | 46.48% | — | — | reported | — | 1.00 |
| Net income growth (YoY) | -804% | — | — | reported | — | 0.90 |
FY 2025 · Δ YoY
Revenue
2.64
—
2.64
—
- FY 2024
- —
EBITDA
-1.99
—
-1.99
—
- FY 2024
- —
EBIT
-2.55
—
-2.55
—
- FY 2024
- —
EBT
-2.71
—
-2.71
—
- FY 2024
- —
Net income
-2.71
—
-2.71
—
- FY 2024
- —
EPS (basic)
(PLN)
-0.1
—
-0.1
—
- FY 2024
- —
D&A
0.56
—
0.56
—
- FY 2024
- —
Interest expense
0.23
—
0.23
—
- FY 2024
- —
Shares (basic)
(m units)
26.34
—
26.34
—
- FY 2024
- —
EBITDA margin
-75.08%
—
-75.08%
—
- FY 2024
- —
EBIT margin
-96.4%
—
-96.4%
—
- FY 2024
- —
Net margin
-102.57%
—
-102.57%
—
- FY 2024
- —
Cash
0.38
—
0.38
—
- FY 2024
- —
Total debt
0.68
—
0.68
—
- FY 2024
- —
Net debt
0.3
—
0.3
—
- FY 2024
- —
Equity
0.54
—
0.54
—
- FY 2024
- —
Total assets
2.74
—
2.74
—
- FY 2024
- —
Working capital
-0.27
—
-0.27
—
- FY 2024
- —
Current assets
1.63
—
1.63
—
- FY 2024
- —
Current liabilities
1.9
—
1.9
—
- FY 2024
- —
Goodwill
0.79
—
0.79
—
- FY 2024
- —
CFO
0.52
—
0.52
—
- FY 2024
- —
CapEx
0.02
—
0.02
—
- FY 2024
- —
FCF
0.49
—
0.49
—
- FY 2024
- —
ROE
-363.9%
—
-363.9%
—
- FY 2024
- —
Current ratio
0.86x
—
0.86x
—
- FY 2024
- —
Revenue growth (YoY)
46.48%
—
46.48%
—
- FY 2024
- —
Net income growth (YoY)
-804%
—
-804%
—
- FY 2024
- —