EBITDA-margin: 64.8%
Asien y/y: +150%
US y/y: +51%
<- Asia is much larger than most think as official statistics like H2GC is flawed in this region for many reasons
- "Live in Pennsylvania yesterday"
- "More customers on-going in US"
- "German players make up 5-10%" (in line with market perception)
- "Look forward to an even more hectic Q4" <- that's how you kill the Germany worries..
Rätt sunt att Merkur-bolagen får bevisa sig över tid. Men att PatientSky skulle bli såhär broken trodde jag inte. Svaga händer och noll marknadsföring gör sitt. Har med mig en del aktier från private placement och köpte mer i callen (💣)
Bland tagarna hittas bl.a. SHB, TIN, AltoCumulus (Axel Johnson), Consensus, Didner, DNB, Alcur, Invesco, Creades.
Sen kändes det bra att VD tecknade för NOK 4m och CFO för NOK 2m vilket jag tror är en decent summa för dessa.
Översiktligt tillhandahåller man såväl egna SaaS applikationer (likt Carasent) men differentierar sig genom att ha utvecklat en proprietär cloud plattform 'PaaS' (AWZ, Google Cloud, Microsoft Azure etc) där partners kan koppla upp sig med 'appar' mot deras 'AppStore' mot revshare
CSAM Health Group ( $CSAM ) noterades på Merkur Market idag. Rhenman Healthcare, TIN fonder, Lazard som ankare E-hälsa med flera ledande niche-bolag i primärt Norden. Lite av ett "investmentbolag" eller snarare PE-bolag inom e-hälsa och en bredare Carasent "peer"
- Software/recurring revenues: >80% (i princip obefintlig churn)
- Group revenue har ökat från 50m till 207m på 4 år (2015 -> 2019)
- Revenue CAGR ('17-'19): 37%
- Adj. EBITDA CAGR ('17-'19): 52%
Software intäkterna har växt såhär, stabil tillväxt
Regarding the last comment. I couldn't agree more. Been discussing this with many investors lately. Kambi is a premium brand with yet great potential even without DK & 888 (next 15 months will obviously be great without a 2nd COVID wave), but this annoys me.. 1/X
Me and @Bullx33 have put plenty of hours talking to industry experts etc to understand the migration timeline and progress between DK/Kambi. What's frustrating here is how soft Kambi's strategy has been...
I mean, after our meeting with Jason Robins at ICE in London it was clear DK would penetrate incremental states with Kambi on top of the already announced 8 markets in August even after SBT announcement in Dec (kambi.com/kambi-group-pl…).
Kambi operator Rush Street guiding 6-10% m/s in online sports betting in todays IPO/SPAC presentation. Penn National guiding 8-19% in May presentation. More to come in this thread on RSI soon..
Rush Street Interactive ( $RSI ) is a solid name in the US with a semi-state licence-holder footprint in important markets and with the possibility to lease skins as a way to tap new markets.
They have gained strong traction with PlaySugarhouse and BetRivers brands in both US and Latin America.
$Ubisoft quarterly report looks like a banger. Everything in the report is up and smashes consensus by 20% topline. Back-catalog sales from powerful franchises are such a lovely trend to observe within the gaming space, recurring revenues on the rise constantly.
Management address recent abuse allegations with multiple measures. In the conf call management e.g. mention they will tie a portion of staff performance bonuses to company culture. A bit artificial maybe but still good to be forceful here and signal a change.
Also on the earnings call, Ubisoft announced next-gen games (during fall) will be sold for $60 compared to e.g. TTWO announcing $70, interesting to see how different pricing strategy's evolves.
$Endor Q2'20 Trading Update
Revenue: +129% y/y
Deposits (rev+deferred rev): +154% y/y <- cash flow equivalent as the company book rev after shipping. Revenue for Q3 thereby provided a headstart with 5.6m
EBIT: "development is accompanied by a disproportionate increase in EBIT" 👌
Impressive to increase EBIT disproportionate with #19 new FTEs and #9 new freelancers. Will shift from a "variable cost ramp-up" to a "fixed cost" later on to scale from as base functions are established.
F1 19 was released in Q2 last year compared to F1 20 Q3 this year. F1 20 has enjoyed #1 on charts and been Codemasters biggest launch so good signals for Q3'20. Also, comps incl. DD1 release while Clubsports sold out in 24h 27th June. I don't expect all to have been shipped yet.