FY 2025 report
Creotech Quantum S.A. to świeżo wydzielona (podział z 1 kwietnia 2026 r.) spółka technologii kwantowych: komputery kwantowe, QKD, synchronizacja czasu White Rabbit; za 2025 r. sama spółka-wydmuszka miała stratę 70 tys. zł, a obraz biznesu daje sprawozdanie specjalnego przeznaczenia (carve-out).
Sentiment
Cautious
No guidance change
CRQ
FY 2025 report
Revenue
17.52 m PLN
— YoY
Net income
-7.84 m PLN
— YoY
EBITDA
-7.25 m PLN
— YoY
CFO
-350 k PLN
— YoY
Summary
Investment thesis
- Przychody operacyjne 17,5 mln zł to w 42% dotacje (7,4 mln zł); sprzedaż produktów wyniosła 10,1 mln zł (+2,7% r/r), więc część rynkowa rośnie wolno.
- Koszty wzrosły o 43% do 25,8 mln zł, a strata operacyjna powiększyła się z -2,4 do -8,3 mln zł (EBITDA -7,2 mln zł).
- Zarząd sam wskazuje na konieczność pozyskania dodatkowego finansowania (grantów lub emisji akcji) i nie wyklucza pożyczki pomostowej od Creotech Instruments; ocenia szanse grantów jako „umiarkowane”.
- Do spółki przekazano 5,0 mln zł gotówki plus 3,2 mln zł zaliczek na dotacje i zamówienia, czyli wyraźnie mniej niż 11,9 mln zł gotówki w sprawozdaniu carve-out.
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Financials
BETA
CRQ · FY 2025
| Metric | FY 2025 | FY 2024 | Δ YoY | Value type | Segment | Conf. |
|---|---|---|---|---|---|---|
| Revenue | 17,517 | — | — | reported | — | 1.00 |
| EBITDA | -7,249 | — | — | derived | — | 0.80 |
| EBIT | -8,345 | — | — | reported | — | 1.00 |
| EBT | -7,839 | — | — | reported | — | 1.00 |
| Net income | -7,839 | — | — | reported | — | 1.00 |
| EPS (basic) (PLN) | -2.75 | — | — | reported | — | 1.00 |
| D&A | 1,096 | — | — | reported | — | 1.00 |
| Income tax | 0 | — | — | reported | — | 1.00 |
| Shares (basic) (k units) | 2,854.35 | — | — | reported | — | 1.00 |
| EBITDA margin | -41.38% | — | — | derived | — | 0.70 |
| EBIT margin | -47.64% | — | — | derived | — | 0.70 |
| EBT margin | -44.75% | — | — | derived | — | 0.70 |
| Net margin | -44.75% | — | — | derived | — | 0.70 |
| D&A margin | 6.26% | — | — | derived | — | 0.70 |
| Cash | 11,913 | — | — | reported | — | 1.00 |
| Total debt | 0 | — | — | reported | — | 1.00 |
| Net debt | -11,913 | — | — | derived | — | 0.90 |
| Equity | 10,518 | — | — | reported | — | 1.00 |
| Total assets | 21,234 | — | — | reported | — | 1.00 |
| Working capital | 14,472 | — | — | derived | — | 0.90 |
| Current assets | 18,571 | — | — | reported | — | 1.00 |
| Current liabilities | 4,099 | — | — | reported | — | 1.00 |
| Non-current liabilities | 6,617 | — | — | reported | — | 1.00 |
| Inventory | 3,894 | — | — | reported | — | 1.00 |
| Trade receivables | 1,908 | — | — | reported | — | 1.00 |
| Trade payables | 3,306 | — | — | reported | — | 1.00 |
| Goodwill | 2,220 | — | — | reported | — | 1.00 |
| Tangible equity | 8,298 | — | — | derived | — | 0.90 |
| CFO | -350 | — | — | reported | — | 0.80 |
| CapEx | 220 | — | — | reported | — | 1.00 |
| ROE | -89.56% | — | — | derived | — | 0.70 |
| Current ratio | 4.53x | — | — | derived | — | 0.70 |
| Quick ratio | 3.58x | — | — | derived | — | 0.70 |
| Cash ratio | 2.91x | — | — | derived | — | 0.70 |
| Debt / equity | 0x | — | — | derived | — | 0.70 |
| Debt / assets | 0x | — | — | derived | — | 0.70 |
| Net debt / equity | -1.13x | — | — | derived | — | 0.70 |
| Revenue growth (YoY) | 10.82% | — | — | derived | — | 0.70 |
| EBITDA growth (YoY) | -612.78% | — | — | derived | — | 0.70 |
| EBIT growth (YoY) | -247.56% | — | — | derived | — | 0.70 |
| Net income growth (YoY) | -153.93% | — | — | derived | — | 0.70 |
| EBIT margin Δ (YoY) | -32.45 pp | — | — | derived | — | 0.70 |
| Net margin Δ (YoY) | -25.22 pp | — | — | derived | — | 0.70 |
FY 2025 · Δ YoY
Revenue
17,517
—
17,517
—
- FY 2024
- —
EBITDA
-7,249
—
-7,249
—
- FY 2024
- —
EBIT
-8,345
—
-8,345
—
- FY 2024
- —
EBT
-7,839
—
-7,839
—
- FY 2024
- —
Net income
-7,839
—
-7,839
—
- FY 2024
- —
EPS (basic)
(PLN)
-2.75
—
-2.75
—
- FY 2024
- —
D&A
1,096
—
1,096
—
- FY 2024
- —
Income tax
0
—
0
—
- FY 2024
- —
Shares (basic)
(k units)
2,854.35
—
2,854.35
—
- FY 2024
- —
EBITDA margin
-41.38%
—
-41.38%
—
- FY 2024
- —
EBIT margin
-47.64%
—
-47.64%
—
- FY 2024
- —
EBT margin
-44.75%
—
-44.75%
—
- FY 2024
- —
Net margin
-44.75%
—
-44.75%
—
- FY 2024
- —
D&A margin
6.26%
—
6.26%
—
- FY 2024
- —
Cash
11,913
—
11,913
—
- FY 2024
- —
Total debt
0
—
0
—
- FY 2024
- —
Net debt
-11,913
—
-11,913
—
- FY 2024
- —
Equity
10,518
—
10,518
—
- FY 2024
- —
Total assets
21,234
—
21,234
—
- FY 2024
- —
Working capital
14,472
—
14,472
—
- FY 2024
- —
Current assets
18,571
—
18,571
—
- FY 2024
- —
Current liabilities
4,099
—
4,099
—
- FY 2024
- —
Non-current liabilities
6,617
—
6,617
—
- FY 2024
- —
Inventory
3,894
—
3,894
—
- FY 2024
- —
Trade receivables
1,908
—
1,908
—
- FY 2024
- —
Trade payables
3,306
—
3,306
—
- FY 2024
- —
Goodwill
2,220
—
2,220
—
- FY 2024
- —
Tangible equity
8,298
—
8,298
—
- FY 2024
- —
CFO
-350
—
-350
—
- FY 2024
- —
CapEx
220
—
220
—
- FY 2024
- —
ROE
-89.56%
—
-89.56%
—
- FY 2024
- —
Current ratio
4.53x
—
4.53x
—
- FY 2024
- —
Quick ratio
3.58x
—
3.58x
—
- FY 2024
- —
Cash ratio
2.91x
—
2.91x
—
- FY 2024
- —
Debt / equity
0x
—
0x
—
- FY 2024
- —
Debt / assets
0x
—
0x
—
- FY 2024
- —
Net debt / equity
-1.13x
—
-1.13x
—
- FY 2024
- —
Revenue growth (YoY)
10.82%
—
10.82%
—
- FY 2024
- —
EBITDA growth (YoY)
-612.78%
—
-612.78%
—
- FY 2024
- —
EBIT growth (YoY)
-247.56%
—
-247.56%
—
- FY 2024
- —
Net income growth (YoY)
-153.93%
—
-153.93%
—
- FY 2024
- —
EBIT margin Δ (YoY)
-32.45 pp
—
-32.45 pp
—
- FY 2024
- —
Net margin Δ (YoY)
-25.22 pp
—
-25.22 pp
—
- FY 2024
- —