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03 Nov 2022
Arctic FLASH: Kahoot - Relief on growth but several other concerns

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Arctic FLASH: Kahoot - Relief on growth but several other concerns
USD 53.9m invoiced revenue (+28% y-y PF), in-line with consensus
Clever above but Kahoot platform slowing significantly down (+13% y-y)
Expects FY22 I.R. of USD 175-180m (>190). Q4 in-line with ARCe/cons
SBC expense continues to increase. USD 7.5m in Q3 vs 4q avg. of USD 4m