Quercus TFI Income Statement

Financials in millions PLN. Fiscal year is January - December.

Millions PLN. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Revenue	202.61	155.03	117.43	91.07	82.23
Other Revenue	2.16	-	-	-	-
Revenue	204.77	155.03	117.43	91.07	82.23
Revenue Growth (YoY)	32.08%	32.02%	28.94%	10.75%	44.39%
Cost of Revenue	40.07	33.74	27.77	20.76	19.23
Gross Profit	164.7	121.29	89.65	70.31	63
Selling, General & Admin	80.37	61.15	45.65	43.44	26.51
Other Operating Expenses	9.59	7.87	9.5	8.42	7.18
Operating Expenses	93.98	72.6	58.22	56.16	35.26
Operating Income	70.72	48.69	31.44	14.15	27.75
Interest Expense	-0.32	-0.21	-0.21	-0.14	-0.05
Interest & Investment Income	-	3.17	2.74	2.51	0
Currency Exchange Gain (Loss)	-	-0.13	0.09	-0.05	-0.02
Other Non Operating Income (Expenses)	6.85	0.84	0.7	1.63	0.2
EBT Excluding Unusual Items	77.25	52.36	34.75	18.1	27.88
Gain (Loss) on Sale of Investments	-	-15.72	4.63	0.42	1.45
Gain (Loss) on Sale of Assets	-	0.14	0	-	0.04
Legal Settlements	-	-0.59	-0.07	-0.81	-0.45
Other Unusual Items	-	19.22	-	-	1.61
Pretax Income	77.25	55.41	39.31	17.71	30.53
Income Tax Expense	14.77	10.76	7.59	3.02	5.41
Earnings From Continuing Operations	62.48	44.66	31.72	14.69	25.12
Minority Interest in Earnings	-2.25	-1.43	-0.77	-0.59	-
Net Income	60.23	43.23	30.95	14.1	25.12
Net Income to Common	60.23	43.23	30.95	14.1	25.12
Net Income Growth	39.32%	39.69%	119.52%	-43.86%	40.81%
Shares Outstanding (Basic)	46	52	55	56	59
Shares Outstanding (Diluted)	46	52	55	56	59
Shares Change (YoY)	-11.73%	-5.57%	-2.35%	-4.65%	3.48%
EPS (Basic)	1.31	0.83	0.56	0.25	0.42
EPS (Diluted)	1.31	0.83	0.56	0.25	0.42
EPS Growth	57.83%	47.93%	124.80%	-40.57%	35.48%
Free Cash Flow	59.46	28.17	24.07	-2.62	12.11
Free Cash Flow Per Share	1.29	0.54	0.44	-0.05	0.20
Gross Margin	80.43%	78.24%	76.35%	77.20%	76.62%
Operating Margin	34.53%	31.41%	26.77%	15.54%	33.75%
Profit Margin	29.42%	27.89%	26.36%	15.48%	30.54%
Free Cash Flow Margin	29.04%	18.17%	20.50%	-2.88%	14.72%
EBITDA	74.73	50.06	32.58	15.87	28.71
EBITDA Margin	36.50%	32.29%	27.75%	17.42%	34.91%
D&A For EBITDA	4.02	1.37	1.14	1.72	0.96
EBIT	70.72	48.69	31.44	14.15	27.75
EBIT Margin	34.53%	31.41%	26.77%	15.54%	33.75%
Effective Tax Rate	19.11%	19.41%	19.32%	17.05%	17.73%
Revenue as Reported	204.77	176.91	118.46	93.07	83.03

Source: S&P Global Market Intelligence. Standard template. Financial Sources.