PANTAFLIX AG (PAL) AI Stock Analysis

• Market Cap: €35.52M
• Dividend Yield: N/A
• Average Volume (3M): 1.23K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.21
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: DE
• Employees: 81
• Sector: Communication Services
• Sector Strength: 97
• Industry: Entertainment
• EPS (TTM): -0.06
• Shares Outstanding: 34,153,156
• 10 Day Avg. Volume: 1,039
• 30 Day Avg. Volume: 1,228
• PEG Ratio: 1.23
• Price to Book (P/B): -39.21
• Price to Sales (P/S): 7.19
• P/FCF Ratio: -3.65
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 45 Neutral
• Price Target: €1.00 ▼(-1.96% Downside)

The score is driven primarily by weak financial performance, including sustained losses, a steep 2024 revenue decline, and balance-sheet strain from higher debt and negative equity. Technical indicators provide some short-term support, but valuation is constrained by loss-making fundamentals and the absence of dividend yield data.

Positive Factors

Operating cash flow resilience

Consistent positive operating cash flow provides durable liquidity support despite accounting losses. Improved OCF to ~11.9M in 2024 indicates the core streaming operations can generate cash, giving the company runway to stabilize or restructure over the next several quarters without immediate insolvency.

Healthy gross margins

Sustained gross margins near 58–67% imply the company retains structural monetization on content or platform services. High gross margins create operating leverage: if fixed costs are reduced or revenues recover, margins can drive meaningful profit recovery over a multi-quarter horizon.

Platform and B2B service mix

A dual model—direct-to-consumer streaming plus B2B infrastructure/services—diversifies revenue and creates sticky client relationships. The technology/service arm can yield recurring contracts and steady cash flows, reducing reliance on volatile consumer revenue in the coming months.

Negative Factors

Persistent net losses and revenue collapse

Multi-year net losses and a dramatic 2024 revenue decline materially weaken operational resilience. Such persistent unprofitability and sharp top-line shrinkage hinder scale economics, increase burn relative to the business base, and make sustainable profit recovery challenging within a 2–6 month horizon.

Balance-sheet strain and leverage

Rising debt and negative equity reduce financial flexibility and raise refinancing risk. With limited equity cushion, the firm faces higher costs or constrained access to funding, increasing the likelihood of dilutive capital raises or covenant pressure over the next several quarters.

Negative free cash flow trend

A move from positive to materially negative free cash flow signals heavier capex or working-capital strain that undermines cash generation. Even with positive OCF, negative FCF increases external funding needs and elevates sustainability risk over a multi-quarter period absent operational recovery or financing.

PANTAFLIX AG Business Overview & Revenue Model

Company Description

Pantaflix AG operates as an entertainment company. It develops, finances, produces, and licenses films and series. The company also offers PANTAFLIX, a video-on-demand platform that captures various parts of value chain for film and video; and produces or co-produces fiction and non-fiction advertising formats, as well as provides advises on channel planning. In addition, it engages in the audio and podcasting activities. The company was formerly known as PANTALEON Entertainment AG and changed its name to Pantaflix AG in August 2017. The company was founded in 2009 and is based in Munich, Germany. Pantaflix AG is a subsidiary of Blackmars Capital Gmbh.

How the Company Makes Money

PANTAFLIX AG Financial Statement Overview

Summary

Very weak profitability and stability: recurring net losses (2020–2024), a sharp 2024 revenue drop (~-74% YoY), and worsening margins (2024 net margin about -82%). Balance sheet risk is elevated with higher debt and negative equity in 2024, partly offset by positive operating cash flow (~11.9M in 2024) despite negative free cash flow (~-8.2M).

Income Statement

Profitability remains weak: the company has reported net losses each year from 2020–2024, with 2024 net margin deteriorating to about -82% versus roughly -10% in 2023. Revenue performance is also volatile and recently collapsed, with 2024 revenue down ~74% year over year after a strong 2023 rebound. While gross margins stayed relatively healthy in 2023–2024 (~67% to ~58%), operating performance turned sharply negative in 2024 (negative EBITDA), highlighting a cost base that is not scaling down with revenue.

Balance Sheet

Leverage and solvency risk increased materially. Total debt rose sharply to ~59.8M in 2024 from ~36.3M in 2023, while equity turned negative in 2024 (from ~2.6M positive in 2023), implying balance sheet strain and limited financial flexibility. The combination of higher debt and negative equity meaningfully raises refinancing risk and reduces the company’s cushion against continued operating losses.

Cash Flow

Cash generation is mixed. Operating cash flow was positive across the period and improved to ~11.9M in 2024 (vs ~7.1M in 2023), which is a key support despite accounting losses. However, free cash flow swung to a sizable deficit in 2024 (~-8.2M) from positive in 2023 (~1.6M) and very strong in 2021–2022, signaling heavier cash investment and/or working-capital drag. Overall, cash flow quality is less consistent than earlier years.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	4.00M	4.16M	35.38M	19.70M	42.60M	7.80M
Gross Profit	2.40M	2.40M	23.85M	15.11M	18.95M	2.32M
EBITDA	-1.91M	-1.32M	19.81M	9.78M	16.49M	-5.41M
Net Income	-2.70M	-3.39M	-3.62M	-7.88M	-2.13M	-7.10M
Balance Sheet
Total Assets	70.35M	72.32M	42.37M	51.61M	37.56M	45.65M
Cash, Cash Equivalents and Short-Term Investments	40.83M	44.29M	29.02M	15.64M	14.08M	7.19M
Total Debt	53.39M	59.80M	36.31M	29.25M	12.91M	9.40M
Total Liabilities	72.54M	73.08M	39.77M	50.05M	28.55M	38.96M
Stockholders Equity	-2.19M	-762.80K	2.60M	1.75M	9.08M	7.13M
Cash Flow
Free Cash Flow	0.00	-8.19M	1.63M	14.31M	12.15M	8.99M
Operating Cash Flow	0.00	11.95M	7.08M	14.37M	12.20M	8.99M
Investing Cash Flow	0.00	-20.13M	-5.40M	-29.59M	-14.54M	-15.97M
Financing Cash Flow	0.00	3.76M	4.01M	-223.00K	4.24M	3.69M

PANTAFLIX AG Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
EDL	68 Neutral	€112.49M	10.51	18.72%	6.85%	-0.48%	-13.65%
KA8	66 Neutral	€17.18M	22.63	17.66%	4.87%	-0.74%	31.08%
CLIQ	63 Neutral	€11.75M	-0.29	-43.92%	5.87%	―	―
Sector *	60 Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
PAL	45 Neutral	€35.52M	-9.85	-1053.34%	―	―	―