CRJ CREEPY JAR Giełda Papierów Wartościowych w Warszawie · Quarterly · publ. May 27, 2026

Q1 2026 report

Debiut StarRupture (Early Access, 6 stycznia 2026 r.) był kluczowym driverem kwartału — 795 tys. sprzedanych kopii na PC/Steam, 74,5% przychodów

Sentiment

Positive No guidance change

Website

CRJ Q1 2026 report

Revenue

39.98 m PLN

— YoY

Net income

29.76 m PLN

— YoY

EBITDA

34.7 m PLN

— YoY

FCF

32.63 m PLN

— YoY

Summary

Investment thesis

Green Hell nadal generuje solidne, rosnące przychody (10,0 mln PLN, +17,6% r/r) mimo 7,5 roku od premiery — długi ogon katalogu
Rentowność eksplodowała dzięki dźwigni operacyjnej: marża EBIT 81%, EBITDA 87%, netto 74%
Bilans bez długu finansowego, 104,7 mln PLN w gotówce i krótkoterminowych papierach wartościowych (63% sumy bilansowej)
Zarząd rekomenduje ~30 mln PLN dywidendy z zysku 2025 i kapitału rezerwowego; decyzja na ZWZ 22 czerwca 2026 r.

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Financials

BETA

Q1 2026

CRJ · Q1 2026

Metric	Q1 2026	Q1 2025	Δ YoY	Value type	Segment	Conf.

Revenue	39.98	—	—	reported	—	1.00
EBITDA	34.7	—	—	reported	—	0.95
EBIT	32.25	—	—	reported	—	1.00
EBT	33.55	—	—	reported	—	1.00
Net income	29.76	—	—	reported	—	1.00
EPS (basic) (PLN)	170	—	—	reported	—	1.00
EPS (diluted) (PLN)	166	—	—	reported	—	1.00
D&A	2.45	—	—	reported	—	1.00
Interest expense	0.01	—	—	reported	—	1.00
Shares (basic) (m units)	0.7	—	—	reported	—	1.00
Shares (diluted) (m units)	0.72	—	—	reported	—	1.00

EBITDA margin	86.8%	—	—	reported	—	0.90
EBIT margin	80.7%	—	—	reported	—	0.90
Net margin	74.4%	—	—	reported	—	0.90

Cash	36.19	—	—	reported	—	1.00
Total debt	0.61	—	—	reported	—	0.90
Net debt	-35.58	—	—	derived	—	0.90
Equity	148.46	—	—	reported	—	1.00
Total assets	166.33	—	—	reported	—	1.00
Working capital	105.48	—	—	reported	—	0.90
Current assets	114.81	—	—	reported	—	1.00
Current liabilities	9.33	—	—	reported	—	1.00
Goodwill	41.2	—	—	reported	—	0.90

CFO	35.8	—	—	reported	—	1.00
CapEx	3.17	—	—	reported	—	1.00
FCF	32.63	—	—	derived	—	0.95
FCF conversion	94%	—	—	reported	—	0.85
CFO conversion	103.2%	—	—	reported	—	0.85
Dividends paid	0	—	—	reported	—	1.00

Current ratio	12.3x	—	—	reported	—	0.90
Cash ratio	3.88x	—	—	reported	—	0.90

Debt / equity	0x	—	—	reported	—	0.85

Revenue growth (YoY)	368.2%	—	—	reported	—	0.95
EBITDA growth (YoY)	572.5%	—	—	reported	—	0.90
EBIT growth (YoY)	562%	—	—	reported	—	0.95
Net income growth (YoY)	495.4%	—	—	reported	—	0.95
EPS growth (YoY)	495.5%	—	—	reported	—	0.95

Q1 2026 · Δ YoY

Revenue

39.98 —

Q1 2025: —

EBITDA

34.7 —

Q1 2025: —

EBIT

32.25 —

Q1 2025: —

EBT

33.55 —

Q1 2025: —

Net income

29.76 —

Q1 2025: —

EPS (basic) (PLN)

170 —

Q1 2025: —

EPS (diluted) (PLN)

166 —

Q1 2025: —

D&A

2.45 —

Q1 2025: —

Interest expense

0.01 —

Q1 2025: —

Shares (basic) (m units)

0.7 —

Q1 2025: —

Shares (diluted) (m units)

0.72 —

Q1 2025: —

EBITDA margin

86.8% —

Q1 2025: —

EBIT margin

80.7% —

Q1 2025: —

Net margin

74.4% —

Q1 2025: —

Cash

36.19 —

Q1 2025: —

Total debt

0.61 —

Q1 2025: —

Net debt

-35.58 —

Q1 2025: —

Equity

148.46 —

Q1 2025: —

Total assets

166.33 —

Q1 2025: —

Working capital

105.48 —

Q1 2025: —

Current assets

114.81 —

Q1 2025: —

Current liabilities

9.33 —

Q1 2025: —

Goodwill

41.2 —

Q1 2025: —

CFO

35.8 —

Q1 2025: —

CapEx

3.17 —

Q1 2025: —

FCF

32.63 —

Q1 2025: —

FCF conversion

94% —

Q1 2025: —

CFO conversion

103.2% —

Q1 2025: —

Dividends paid

0 —

Q1 2025: —

Current ratio

12.3x —

Q1 2025: —

Cash ratio

3.88x —

Q1 2025: —

Debt / equity

0x —

Q1 2025: —

Revenue growth (YoY)

368.2% —

Q1 2025: —

EBITDA growth (YoY)

572.5% —

Q1 2025: —

EBIT growth (YoY)

562% —

Q1 2025: —

Net income growth (YoY)

495.4% —

Q1 2025: —

EPS growth (YoY)

495.5% —

Q1 2025: —