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ARR of SEK 67.4m, up 15% y-o-y, -3% vs. ABGSCe Committed to cash flow break-even Share trading at ’23e 12.1x EV/EBITDA
ARR +15% y-o-y, -3% vs ABGSCe Expect minor est. revisions Webcast scheduled for 11:00 CET
Q3 report due Thursday, 27 October Growth muted but profitability still in sight B2B likely to offer downside protection for now
Rovio and EG7 attended ABGSC’s Investor Day COVID-rebasing in mobile gaming to normalise soon Important changes presented by new EG7 management
We hosted a presentation with CEO Patrik Settlin today B2B and indexed contracts mitigate inflation woes Profitability still in sight
ARR of SEK 67m, up 19% y-o-y, -2% vs. ABGSCe Breakthrough deal in the US with a B2B customer Share trading at 2.0x ARR and 15x EV/EBIT on 2024e
New communication around financial target… …” balance between profitability and growth” The share trades at 2.8x-2.4x EV/ARR
ARR +19% y-o-y. -0.7% vs. ABGSC Expect cons. to make relatively small forecast changes Webcast scheduled for 10:00 CET
Activity has slowed due to high inflation Slightly lower ARR in Q1’22e due to external factors We lower our fair value range to SEK 15-41 (18-42)
Record intake of new customers, ARR +21% y-o-y We cut ARR slightly due to the new price model Share is trading at EV/ARR of 2.5x-2.1x for ’22e-’23e
Q4 report on Thursday, 17 January We move profitability expectations to 2023e EV/ARR of 3.1x-2.4x for ’22e-‘23e
59 companies presented at the seminar Mostly Swedish small caps attending See links to all company recordings
Q3’21 ARR SEK 59m, up 20% y-o-y We cut ‘21e-‘23e sales by 3-4% on transitory effects 4.2x-2.8x EV/ARR for ‘21e-‘23e
Q3 ARR SEK 59m, -3.2% vs. ABGSC, +20% y-o-y Operating costs at SEK -16m, growing +7% y-o-y Webcast scheduled for 11:00 CET
Q2’21 ARR SEK 57m, up 21.5% y-o-y Growth could ramp up in ’22e, driven by Litium 8 Fair value range adjusted to SEK 19-45 (19-43) per share
Q1’21 ARR of SEK 55m, +3.7% vs. ABGSCe, +27.3% y-o-y We increase 21e-‘23e ARR by 3.3% ‘ Fair value range of SEK 19-43 (17-39) per share
Q1 ARR SEK 55m, +3.7% vs. ABGSCe, +27.3% y-o-y… …operational costs at SEK -19m, growing +16.3% y-o-y Webcast scheduled for 11:00 CET
Q4 ARR SEK 51m, -4.2% vs. ABGSC, +23% y-o-y Estimate drivers: new cost base, H1 COVID-19 pressure Fair value range SEK 17-38 (19-41) per share
Forecast 28.5% ARR growth in Q4’20e to SEK 54m Strong underlying growth in e-commerce during ‘20 Fair value SEK 19-41 (14-35) per share
Q3 ARR growth of ~28% vs. opex growth ~2%... …highlights scalability and drives estimate change Fair value range of SEK 14-35 (10-25) per share
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