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Thunderful Group: Preliminary Q4 numbers - Redeye

Redeye comments on Thunderful Group’s preliminary Q4 numbers, which are significantly lower than our expectations, primarily due to extraordinary write-downs of SEK598m related to goodwill and capitalized development costs. However, excluding the write-downs, we also see a weaker underlying development where sales came in 10% below estimates while adjusted EBITDA was significantly lower than our expectations.

Redeye comments on Thunderful Group’s preliminary Q4 numbers, which are significantly lower than our expectations, primarily due to extraordinary write-downs of SEK598m related to goodwill and capitalized development costs. However, excluding the write-downs, we also see a weaker underlying development where sales came in 10% below estimates while adjusted EBITDA was significantly lower than our expectations.
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