Devolver Digital encouragingly delivered 2023 results slightly ahead of expectations and provided a steady medium-term outlook that leads us to reiterate our 2024 Adjusted EBITDA estimates. Longer term, the company is now planning to further develop its two major planned titles, Human Fall Flat 2 and System Era's next major new release. We now expect those major titles to be released in 2026 rather than 2025, meaning we lower our 2025 Adjusted EBITDA forecast to $10.6m from $17.6m but introduce ....
18 Apr 2024
Devolver Digital (DEVO LN) - Rebuild year
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Devolver Digital (DEVO LN) - Rebuild year
Devolver Digital, Inc. (DEVO:LON) | 23.0 0 0.0% | Mkt Cap: 102.3m
- Published:
18 Apr 2024 -
Author:
Bob Liao, CFA | Carl Smith, CFA -
Pages:
11
Devolver Digital encouragingly delivered 2023 results slightly ahead of expectations and provided a steady medium-term outlook that leads us to reiterate our 2024 Adjusted EBITDA estimates. Longer term, the company is now planning to further develop its two major planned titles, Human Fall Flat 2 and System Era's next major new release. We now expect those major titles to be released in 2026 rather than 2025, meaning we lower our 2025 Adjusted EBITDA forecast to $10.6m from $17.6m but introduce ....