Thunderful Group Q3’21: Validating the transformation story
Research Note
2021-11-16
10:06
Redeye comments on Thunderful Group's Q3'21 report. We find the report encouraging, Net sales were 6% above our estimates, and Adj EBITA was slightly below our estimates. We are especially encouraged by the game segment. It accounted for 13% of sales, 42% of gross profit, and 60% of Adj EBITA.
Danesh Zare
Viktor Lindström
Tomas Otterbeck
Disclosures and disclaimers