The Executive Board of DataWalk S.A., with its registered seat in Wroclaw, Poland (“Company,” “Issuer”), reports estimated selected financial data for the Data Walk Capital Group (“Group”) for the three quarters of 2023 together with comparable data:
– consolidated estimated sales revenues amounted to PLN 18.117 thousand, compared to PLN 25.841 thousand in the first three quarters of 2022, representing a decrease of PLN 7.724 thousand, i.e., a 30% decrease compared to the comparable period,
– consolidated estimated operating result adjusted for the cost of depreciation and amortization (EBITDA) amounted to a loss of 13.432 thousand, compared to a loss of PLN 115.979 thousand in the first three quarters of 2022, representing a reduction in loss of PLN 102.546 thousand, i.e., 88% decrease compared to the comparable period,
– consolidated estimated operating result adjusted for the cost of the incentive program, depreciation and amortization, as well as the change in asset impairment allowances (adjusted EBITDA), amounted to a loss of PLN 28.040 thousand compared to a loss of PLN 12.666 thousand in first three quarters of 2022, representing an increase in loss of PLN 15.373 thousand, i.e., 121% increase compared to the comparable period.
The most significant impact on the change in the Group’s consolidated EBITDA in the first three quarters of 2023 was:
i. a decrease in costs related to the share-based incentive program in the total amount of PLN 124.325 thousand compared to the comparable period, when the Group, for the first time, recognized the valuation of the incentive program in the financial statements under IFRS 2 (non-cash expense, with no impact on the current financial position of the Issuer and the Group;
ii. an increase in personnel and external service costs related to the expansion and growing scale of the Group’s operations, both in terms of expanding the number of specialists in implementation, programming, and sales, as well as the processes related to international commercialization, amounting to PLN 8.656 thousand (a 31% increase compared to the comparable period;
iii. a decrease in sales revenue amounted to PLN 7.724 thousand, or 30% compared to the comparable period;
iv. recognition of an impairment loss on intangible assets for a total amount of PLN 7.026 thousand under IAS 36 (non-cash expense, with no impact on the current financial position of the Issuer and the Group), based on actual impairment tests.
The Executive Board decided to present an additional financial metric – EBITDA adjusted for the costs of the incentive program and the change in asset impairment allowances when presenting estimated data, due to the fact that these items are non-cash in nature and do not affect the current financial position (in particular, liquidity) of the Issuer and the Group.
The financial results presented represent estimates obtained in the course of preparing the interim consolidated financial statement. Consequently, the possibility of change in values indicated in this current report cannot be excluded. Publication of the interim report will take place on November 15, 2023.
In the event of significant changes to the data mentioned above, the Issuer will submit a separate current report by applicable regulations.
The above information complies with the requirements of Art. 7 item 1 MAR due to significant, in the opinion of the Company’s Executive Board, changes relative to the comparable period recorded in terms of the consolidated operating result generated by the Group in the three quarters of 2023, which was particularly affected by the changes in sales revenues and operating expenses of the Group described above.
