| Valuation method | Value, € | Upside, % |
|---|---|---|
| Artificial intelligence (AI) | 263.15 | 40014 |
| Intrinsic value (DCF) | 0.50 | -24 |
| Graham-Dodd Method | n/a | |
| Graham Formula | 3.68 | 461 |
Mexedia Società Per Azioni S.B., operating under the name Airtime Partecipazioni S.p.A., is a specialized wholesale telecommunications service provider based in Rome, Italy. The company offers a unique B2B voice and SMS trading platform integrated with fintech modules, enabling direct bank account integration and receivables auctioning. Its flagship product, Airtime Exchange software, facilitates the trading, operation, monitoring, and settlement of VoIP and SMS traffic, catering to telecom operators and enterprises. Founded in 2017, Airtime Partecipazioni operates in Italy, Ireland, and the United States, positioning itself at the intersection of telecommunications and financial technology. Despite its niche focus, the company plays a critical role in the evolving telecom wholesale market, leveraging automation and fintech solutions to differentiate itself in the competitive financial services sector.
Airtime Partecipazioni presents a high-risk, high-reward investment opportunity due to its niche positioning in the wholesale telecom and fintech space. The company's innovative B2B trading platform and fintech integrations offer growth potential, but its financials reveal challenges, including negative net income (-€1.7M) and operating cash flow (-€387K) in the latest fiscal period. With a modest market cap of €7.7M and a beta of 0.091, the stock exhibits low volatility but limited liquidity. Investors should weigh the company's technological differentiation against its current unprofitability and debt load (€7.3M total debt). The lack of dividends further suggests this is a speculative play on the convergence of telecom and fintech.
Airtime Partecipazioni competes in a specialized segment of the telecom wholesale market, differentiating itself through fintech-enabled trading solutions. Its competitive advantage lies in the automation and financial integration of its Airtime Exchange platform, which reduces settlement friction for telecom carriers. However, the company faces significant challenges in scaling against larger, more established players in both telecom wholesale and fintech. Its small size limits its ability to compete on price or global reach, while its fintech modules face competition from specialized payment platforms. The company's hybrid telecom-fintech model is innovative but unproven at scale. Its focus on Europe and the U.S. provides regional advantages but may limit growth in faster-growing emerging markets. The negative financial metrics suggest the business model may not yet be sustainable without further capital infusion or rapid revenue growth.