Atari SA (ALATA) AI Stock Analysis

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Atari SA

(Paris:ALATA)

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Rating:46Neutral

Price Target:EUR 15.00▼(-3.04% Downside)

Action:reiterated

Date:10/15/26

The score is held back primarily by weak technicals (price below all key moving averages and negative MACD) and continued net losses reflected in the negative P/E. Financials provide some support due to strong recent revenue acceleration and a swing to positive operating and free cash flow, but high leverage and thin equity materially increase risk.

Positive Factors

Strong Revenue AccelerationThe sharp multi-year increase in revenue indicates stronger monetization of Atari’s games and intellectual property. If the expanded sales base persists, it can support greater operating scale, broader investment in new releases, and improved capacity to generate cash over the next several quarters.

Negative Factors

High Leverage and Thin EquityThe substantial rise in debt alongside very thin equity leaves Atari with a limited financial buffer against execution setbacks or weaker releases. Elevated leverage can constrain future investment, increase financing pressure, and make the balance sheet more sensitive to volatility in earnings and cash generation.

Atari SA (ALATA) vs. iShares MSCI France ETF (EWQ)

Market Cap: EUR 45.67M
Dividend Yield: ―
Average Volume (3M): 1,190
Price to Earnings (P/E): -7.5
Beta (1Y): 0.16
Revenue Growth: 66.67%
EPS Growth: 74.66%
Country: France
Employees: 299
Sector: General
Sector Strength: 55
Industry: Electronic Gaming & Multimedia

Atari SA Business Overview & Revenue Model

Company Description

Atari S.A. is a global entity specializing in interactive entertainment and product licensing across diverse platforms. Its operations encompass the creation and monetization of video games through various channels, multimedia content production, and...

How the Company Makes Money

Atari SA primarily makes money by monetizing the Atari brand and its game/IP catalog through multiple revenue streams. (1) Video game publishing and distribution: Atari earns revenue from sales of games and downloadable content across digital storefr...

Atari SA Financial Statement Overview

Summary

Revenue accelerated sharply (10.1M in 2023 to 56.0M in 2026) and the latest year shows a meaningful swing to positive operating and free cash flow. Offsetting this, profitability remains negative and balance-sheet risk is elevated due to sharply higher debt and very thin equity.

Income Statement

46Neutral

Balance Sheet

28Negative

Cash Flow

63Positive

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	56.00M	56.00M	33.60M	20.60M	10.10M	14.90M
Gross Profit	33.50M	27.90M	24.70M	1.10M	2.50M	7.90M
EBITDA	-600.00K	8.30M	11.10M	1.00M	-3.10M	-19.20M
Net Income	-4.20M	-4.00M	-12.60M	-13.50M	-9.50M	-23.80M
Balance Sheet
Total Assets	105.10M	105.10M	77.10M	78.10M	25.20M	26.00M
Cash, Cash Equivalents and Short-Term Investments	4.70M	4.70M	3.50M	2.60M	1.70M	600.00K
Total Debt	72.30M	72.30M	54.00M	46.10M	9.30M	6.80M
Total Liabilities	102.00M	102.00M	79.01M	71.30M	17.40M	21.60M
Stockholders Equity	3.40M	3.40M	-1.91M	6.80M	7.80M	4.40M
Cash Flow
Free Cash Flow	10.30M	10.30M	-8.10M	-21.20M	-14.10M	-10.00M
Operating Cash Flow	10.40M	10.40M	8.80M	-4.30M	-8.30M	-5.80M
Investing Cash Flow	-26.20M	-26.20M	-18.60M	-31.20M	-5.60M	-4.30M
Financing Cash Flow	16.90M	16.90M	9.30M	36.80M	14.70M	7.50M

Atari SA Technical Analysis

Technical Analysis SentimentNegative

Last Price15.47

Price Trends

50DMA18.19Negative

100DMA19.20Negative

200DMA20.58Negative

Market Momentum

MACD-0.73Negative

RSI43.43Neutral

STOCH87.57Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:ALATA, the sentiment is Negative. The current price of 15.47 is above the 20-day moving average (MA) of 15.38, below the 50-day MA of 18.19, and below the 200-day MA of 20.58, indicating a neutral trend. The MACD of -0.73 indicates Negative momentum. The RSI at 43.43 is Neutral, neither overbought nor oversold. The STOCH value of 87.57 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FR:ALATA.

Atari SA Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

FR:ALATA against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
FR:ALATA	46Neutral	EUR 65.77M	-7.55	-101.20%	―	66.67%	74.66%
FR:ALPUL	43Neutral	EUR 53.52M	-4.02	-8.99%	15.36%	-27.85%	-163.53%
FR:UBI	43Neutral	EUR 570.57M	-0.37	-97.34%	―	-26.51%	-763.39%
FR:ALDNE	38Underperform	EUR 1.59M	-0.07	-141.33%	―	49.69%	48.57%
FR:BIG	38Underperform	EUR 1.19M	-0.00	-403.52%	―	-1.22%	-101445.24%
FR:NACON	38Underperform	EUR 5.22M	-0.01	-360.12%	―	-4.27%	-35654.26%

* General Sector Average

Performance Comparison

FR:ALATA and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
FR:ALATA	Atari SA	15.47	-12.33	-44.35%
FR:BIG	Bigben Interactive	0.07	-1.00	-93.91%
FR:UBI	UBISOFT Entertainment	4.10	-2.82	-40.69%
FR:ALPUL	Focus Home Interactive SA	6.51	-11.83	-64.50%
FR:ALDNE	Don't Nod Entertainment SA	0.12	-0.67	-84.56%
FR:NACON	Nacon SASU	0.05	-0.59	-92.60%

Atari SA Corporate Events

Atari Rebrands U.S. OTCQX Ticker to ARCDF After Market Upgrade

Oct 29, 2026

Atari S.A., the iconic interactive entertainment company behind classic franchises like Asteroids and PONG, develops and publishes games and licensed products across multiple platforms. The group controls a large catalog of more than 400 titles and o...

Atari Upgrades U.S. Share Trading to OTCQX Best Market to Boost Investor Access

Oct 23, 2026

Atari S.A., the iconic gaming and interactive entertainment company, has secured qualification to trade its shares on the OTCQX Best Market in the United States while maintaining its primary listing on Euronext Growth Paris. The move upgrades Atari&#...

Atari Seeks Upgrade of U.S. Quotation to OTCQX International Market

Oct 15, 2026

Atari has applied to upgrade the quotation of its ordinary shares in the United States from the OTC Pink market to the OTCQX International tier operated by OTC Markets Group. The company says the move, if approved, would place its stock on the highes...

Atari Converts €12.6 Million of Debt into Equity, Boosting IRATA LLC’s Stake

Sep 17, 2026

Atari has finalized a refinancing package that converts €12.6 million of outstanding loans into new equity, significantly reshaping its capital structure. The deal was approved by disinterested board members, underscoring governance precautions...

Atari Reports Regulated Transactions in Its Own Shares

Aug 20, 2026

Atari SA has reported regulated information concerning transactions in its own shares, indicating recent activity in the acquisition or disposal of treasury stock. The disclosure, made through a detailed filing, provides transparency on dealings by t...

Atari converts debt to equity as IRATA raises stake in refinancing deal

Aug 17, 2026

Atari has strengthened its balance sheet by converting €15.9 million of high-interest shareholder and private partner loans into equity and conducting a reserved cash capital increase. The company issued 821,499 new shares at €24, an 11%...

Atari Publishes Audited FY 2026 Annual Report for Investors

Aug 5, 2026

Atari SA has released its audited Annual Report for the financial year ended March 31, 2026, making the document available to investors via its dedicated investor relations website. The publication provides shareholders and market participants with u...

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Oct 15, 2026

Atari SA AI Stock Analysis