Digitree Group 2026: back to net profit after a PLN 4.86 m loss - PLN 66.5 m revenue (-14.5% YoY) and a PLN 150 m / PLN 10 m EBITDA strategy for 2027

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

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

The second layer of the 2025 story is a deliberate revenue decline - PLN 66.5 m vs PLN 77.8 m a year earlier (-14.5% YoY). This reflects portfolio restructuring: 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 and operating cash flow rising from PLN 2.9 m to PLN 3.75 m (+28.8%) confirms that the restructuring is real, not cosmetic.

The third theme is the 2025–2027 strategy targeting PLN 150 m of revenue and PLN 10 m of EBITDA by 2027. Management is closing the restructuring phase and entering the growth phase - from a 2025 base of PLN 66.5 m the path to PLN 150 m requires a CAGR of around 50% over two years, casting Digitree as a candidate 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 seat 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 rebrand). It is listed on the Warsaw Stock Exchange under the ticker DTR since 2016.

Governance: a two-member management board - CEO Tomasz Wojaczek plus a board member. The representation rule is hybrid: in a multi-member board the CEO acts on his own, two other members jointly, or one member with a proxy holder. The cap table is dispersed - no dominant investor - with 2,485,775 shares outstanding and equity of PLN 15.4 m (book value 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 services portfolio: the SARE platform (an in-house marketing-automation and email-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.

Polish digital-marketing and SaaS sector on the WSE: Digitree as a turnaround small-cap with 20-year know-how

The Polish SaaS and digital-marketing sector listed on the Warsaw exchange has selective representation in 2026, in which Digitree occupies a turnaround-small-cap niche with the proprietary SARE platform - with no direct WSE competitor of comparable "digital agency + own marketing-automation platform" profile:

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

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

• Deliberate revenue decline + operating-margin improvement = a classic "profitability before scale" pivot - in 2024 the company had PLN 77.8 m of revenue with a net loss of PLN -4.86 m. The decision to scale back unprofitable services led in 2025 to a revenue drop to PLN 66.5 m, but at the same time to an operating-result swing from PLN -4.34 m to +PLN 735 k. Operating cash flow improved by 28.8%. This signals a real restructuring, not cosmetic accounting.
• The SARE platform as a 20-year asset with scale effect - unlike marketing agencies competing on a pure services model, Digitree owns its own marketing-automation platform developed over 20+ years. This is a long-term technological moat - every new customer raises the platform's distribution margin without a proportional rise in development cost. This model is comparable to America's ActiveCampaign or Mailchimp on a smaller scale.
• The PLN 150 m / PLN 10 m EBITDA 2027 target = ambition implying ~50% CAGR off the current base - from PLN 66.5 m in 2025 the path to PLN 150 m requires more than a doubling in two years. That is an aggressive pace, only possible with: (a) successful new-product execution, (b) potential M&A expanding the services portfolio, (c) strong support from data-protection regulation (DSA, GDPR, KSC) lifting demand for advanced compliance-friendly platforms. Management has not disclosed details of the path.

Implication for the investment profile: a turnaround small-cap with two 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 investment profile in 2026:

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

Main company-specific risks across the 2026–2027 cycle:

• Digital-advertising cycle - demand for marketing automation is a function of customers' advertising budgets; consumer recession compresses these first.
• Competition from global platforms - HubSpot, ActiveCampaign, Mailchimp, 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 150 m 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 - low liquidity of DTR shares means single orders move the price strongly; institutional investors may avoid.
• Key-customer dependence - in digital marketing, typically 20–40% of revenue comes from the top-10 customers; any change in the key portfolio can heavily impact results.

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

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

This material is informational 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 2026-05-02.