Digitree Group 2026: back to net profit after a PLN 4.86m loss – PLN 66.5m revenue and a PLN 150m strategy for 2027

Digitree Group returns to net profit: +PLN 49k after a PLN 4.86m loss a year earlier – revenue of PLN 66.5m (–14.5% YoY), a PLN 150m target by 2027

Digitree Group S.A. – headquartered at ul. Raciborska 35A in Rybnik (postcode 44-200, Silesian voivodeship) and registered in the KRS under number 0000369700 – closed 2025 with a net profit of PLN 49,000, against a PLN 4.86m loss a year earlier. The amount is mathematically symbolic but structurally pivotal: the company ends a multi-year run of losses and returns to a positive annual result for the first time in several years. Operating profit moved in step – from a PLN 4.34m loss in 2024 to +PLN 735,000 in 2025. Earnings per share: PLN 0.02 versus –PLN 1.95.

The second layer of the 2025 story is a deliberate revenue decline – PLN 66.5m versus PLN 77.8m a year earlier (–14.5% YoY). It reflects a restructuring of the services portfolio: management prioritised profitability over scale, exiting unprofitable contracts and concentrating resources on higher-margin products (the SARE platform, marketing automation). Falling revenue alongside an improving operating margin, with operating cash flow rising from PLN 2.9m to PLN 3.75m (+28.8%), confirms the restructuring is real rather than cosmetic.

The third theme is the 2025–2027 strategy, targeting PLN 150m of revenue and PLN 10m of EBITDA by 2027. Management is closing the restructuring phase and entering a growth phase – from the 2025 base of PLN 66.5m, the path to PLN 150m requires average annual growth of about 50% over two years, casting Digitree as a candidate for a small-cap technology turnaround story. For dividend investors: the company remains unwilling to pay out for now – capital is being directed at delivering the strategic targets.

Digitree Group

RYBNIK · KRS 0000369700 · SPÓŁKA AKCYJNA

Revenue

66.5 M PLN

Raciborska 35A in Rybnik: Wojaczek's two-member board, a 20-year Rybnik history, ticker DTR

The address ul. Raciborska 35A, 44-200 Rybnik places Digitree's registered office in the historic part of Rybnik, near the city centre and the Upper Silesian tech clusters. The company has operated in its current corporate form (Digitree Group S.A., KRS 0000369700) since 9 November 2010, but its Rybnik history reaches back more than 20 years – initially as SARE Sp. z o.o. (the source of the ISIN PLSARE000013, retained after the name change). It has been listed on the Warsaw Stock Exchange under the ticker DTR since 2016.

Governance: a two-member management board – CEO Tomasz Wojaczek plus one board member. The representation rule is hybrid: with a multi-member board, the CEO acts alone, two other members act jointly, or one member acts together with a registered proxy. The cap table is dispersed – no dominant investor – with 2,485,775 shares outstanding and equity of PLN 15.4m (a book value of PLN 6.21 per share).

Under Polish PKD codes, the principal activity is 62.01.Z (computer-programming activities). Digitree Group offers a full digital-marketing portfolio: the SARE platform (an in-house marketing-automation and e-mail-marketing system), sales- and lead-generation tooling, precise customer-group targeting, e-commerce platform implementations, strategic consulting and brand strategy. The company has a registered electronic-delivery address (AE:PL-59838-58391-TUFVJ-20) and the websites digitree.pl and digitree.pl/inwestorzy.

Poland's digital-marketing and SaaS sector on the WSE: Digitree as a turnaround small cap with 20 years of know-how

Poland's listed SaaS and digital-marketing sector has selective representation in 2026, within which Digitree occupies a turnaround-small-cap niche built around the proprietary SARE platform – with no direct WSE competitor of a comparable "digital agency plus own marketing-automation platform" profile:

• Digitree Group (Rybnik, sWIG80) – the SARE platform, marketing automation, lead generation, the 2025 turnaround.
• DataWalk (Wrocław, sWIG80) – graph analytics, banking customers, the investigative-analytics segment.
• Ailleron (Kraków, sWIG80) – software-development outsourcing plus the LiveBank fintech.
• LiveChat / Text (Wrocław, mWIG40) – B2B SaaS in customer service, a US-style model.
• R22 (Poznań) – hosting plus e-mail marketing (via Implix), a direct competitor in the e-mail-marketing segment.

Three structural features of the Digitree model explain the 2025 turnaround:

• A deliberate revenue decline plus an improving operating margin = the classic "profitability before scale" pivot – in 2024 the company generated PLN 77.8m of revenue with a net loss of PLN 4.86m. The decision to scale back unprofitable services cut 2025 revenue to PLN 66.5m, but swung the operating result from –PLN 4.34m to +PLN 735,000. Operating cash flow improved by 28.8%. That signals a real restructuring, not accounting cosmetics.
• The SARE platform as a 20-year asset with scale effects – unlike marketing agencies competing on a pure-services model, Digitree owns a marketing-automation platform developed over more than 20 years. It is a long-term technological moat – each new customer lifts the platform's margin without a proportional rise in development costs. The model resembles America's ActiveCampaign or Mailchimp at a smaller scale.
• The PLN 150m / PLN 10m EBITDA target for 2027 = an ambition implying roughly 50% annual growth off the current base – from PLN 66.5m in 2025, the path to PLN 150m requires more than a doubling in two years. That aggressive pace is possible only with (a) successful new-product execution, (b) potential M&A broadening the services portfolio, and (c) strong tailwinds from data-protection regulation (DSA, GDPR, KSC) lifting demand for advanced, compliance-friendly platforms. Management has not disclosed the details of the path.

Implications for the investment profile: a turnaround small cap with three speculative scenarios for 2026

The interpretation is speculative – the conclusions below are scenarios, not certainties:

“We are returning to a growth path - closing the restructuring phase and entering the strategy-execution phase. The PLN 150 m revenue and PLN 10 m EBITDA target for 2027 is ambitious but consistent with the capital discipline we have built over the past two years.”

Three possible consequences of the 2025 results and the 2025–2027 strategy for Digitree's 2026 investment profile:

• A return to profit after years of losses = an operating signal, not a financial one – a PLN 49,000 net profit is immaterial in itself, but it structurally closes a multi-year loss streak. Deep-value investors read such inflection points as the start of a recovery phase: if the company holds operating profitability through 2026, subsequent quarters may surprise positively. The risk: another few-percent revenue decline in 2026 could undo the profitability just achieved.
• The PLN 150m target for 2027 = management's promise, not a confirmed plan – with roughly 50% annual growth required over two years and no disclosed path (organic growth or M&A?), the target is ambitious and leaves room for disappointment. Growth investors should treat PLN 150m as the upper-end scenario, not the central one.
• A small-cap valuation = low liquidity and high volatility – at a market cap of around PLN 30m (a share price near PLN 12 and 2.49m shares), Digitree is a typical low-liquidity small cap. Single orders can move the share price materially. That is a plus for active investors (a cheap entry) and a minus for fund portfolios that need scale.

The main company-specific risks across the 2026–2027 cycle:

• The digital-advertising cycle – demand for marketing automation follows customers' advertising budgets, and in a consumer recession those budgets are cut first.
• Competition from global platforms – HubSpot, ActiveCampaign, Mailchimp and Klaviyo compete with SARE in the marketing-automation segment; any pricing or feature change at the global leaders affects the Polish vendor's position.
• Strategic-target delivery – without a disclosed path to PLN 150m, it is impossible to confirm whether the plan is organic or assumes M&A; strategy-delay risk is typical for turnaround small caps.
• Liquidity and free float – the low liquidity of DTR shares means single orders move the price strongly; institutional investors may steer clear.
• Key-customer dependence – in digital marketing, typically 20–40% of revenue comes from the top ten customers; any change in the key portfolio can weigh heavily on results.

What you'll find in the Digitree Group S.A. profile

The Digitree Group S.A. profile in our database gives the full picture of the company: the composition of the two-member management board (led by CEO Tomasz Wojaczek), the KRS registration history since 9 November 2010 (and as SARE Sp. z o.o. for over 20 years), the registered address at ul. Raciborska 35A in Rybnik, its e-Delivery status (AE:PL-59838-58391-TUFVJ-20), the digitree.pl and digitree.pl/inwestorzy websites, and the assigned PKD code 62.01.Z (computer-programming activities). The profile is also available in English – relevant for international small-cap technology and turnaround fund investors, since Digitree is the only Polish listed company combining the proprietary SARE marketing-automation platform with 20 years of digital-agency know-how, now in the recovery phase after multi-year losses.

This material is for information purposes only and does not constitute investment advice.

Data: Polish KRS Court Register (KRS 0000369700); Digitree Group S.A. - SRR/2025 report (published 21 April 2026, Bankier.pl ESPI); Digitree.pl - preliminary 2025 results communication and 2025–2027 strategy; biznesradar.pl - DIGITREE GROUP SA (DTR) listing; GPW - company card ISIN PLSARE000013; Bankier.pl - DIGITREE listing profile; PKD 62.01.Z classification (computer-programming activities); company history - registration as S.A. 9 November 2010 (formerly SARE Sp. z o.o.), WSE debut 2016, as of 2026-07-27.