Who doesn’t like a great gaming business at a great price? A throw away at $10.1, IMHO $KSMT
https://twitter.com/kinosfault/status/1356469561277710336
Roughly-speaking, the Russian “CD Projekt” at 1/10th valuation and Cypress based?
At $10.1/share no risk until deal closure, and who knows, quantum fluctuations could take it to $13-$15 prior to that. $KSMT
"There are not too many games which grew 10-fold in revenue during 24 months" (Stock gets no respect.)
"Although we started in Russia, now Nexters is one of the leading mobile game developers in Europe."
10m shares earn-out at $13.5 and 10m at $17/share. Not bad. $KSMT
$MSGM (Motor Sports Games) that went public in Jan is 20x revenue. But much faster current growth, and losses. $KSMT #cheap
at 15x off-peak FCF, a major gaming “forever” franchise, new games in pipeline, strong team...seems good $KSMT
All quiet on the Eastern front. $KSMT
$KSMT de-SPAed. Trading $GDEV. Retail bailed out (most redeemed) and private investors put up required capital.
Hi growth, upped guidance, low multiple, new games launched. Acquisitions soon w. excess cash. Russian team in Cyprus. $GDEV
I'll be darned if it doesn't look like one of the better deals in the video gaming space right now. $GDEV
$GDEV accounting is confusing because much of actual cash in-game revenue is recognized as “deferred”. So reported “bookings” are de-facto revenue.
In 2020, $GDEV earned $120m FCF on $443m bookings (a very fat margin) vs. current MC of just $1.8b
Revised growth forecasts dramatically in July. 
Forward growth looking good
Two new games launched this year and $GDEV reports great early traction for one.
Revenues nicely spread among geographies.
...with many other KPIs looking darn good.
Zero M&A, which is surely coming, is factored in the forecast. $GDEV
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