* Crunchfish is now formally approved for the RBI’s regulatory sandbox
* We maintain our valuation interval SEK 41.60 – 66.20 per share
Crunchfish reported a stronger net result than expected in Q3, largely because
of a substantial upfront payment within the gesture interaction business area.
The development in this segment has continuously showcased technological
improvement and implementation in the AR/VR market. Within Digital Cash,
Crunchfish released their new improved version Digital Cash 1.3 and received
final approval for the Reserve bank of India’s regulatory sandbox which is
expected to start in December 2022. The overall picture is consistent with the
projections made in our latest research update in August, with the exception
for the substantial upfront payment leading to a positive EBITDA. We choose to
maintain our valuation interval of SEK 41.60 – 66.20 per share.
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