11:25:03 Europe / Stockholm


2022-11-21 08:30:00


  • Gesture interaction order from OPPO resulting in positive EBITDA
  • 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.

The full report is available here.