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We already had the news. The SP is just catching up with events
No watch the spread
Does anyone know the secret for the big buys today?
Bought back in last week; cash much better than anticipated and sensing that they are listening to players a bit more, so hopefully the games will be more engaging.
Free float is small so when this moves it really moves. It's been kind to me in the past so maybe history can repeat itself (at least to some extent).
GLA
Small-cap Movers: Frontier Developments’ rollercoaster week
https://tinyurl.com/4uu2x2pc
Among the junior markets’s smattering of small-cap video game developers, Frontier Developments PLC (AIM:FDEV) stands out as one of the oldest, having been founded in the early 90s before listing on AIM in 2013.
Wannabe theme park bosses may know Frontier as the former developer of the RollerCoaster Tycoon series, though small-cap investors may know it better as a stock that rallied more than 30% this week.
Frontier spiked to a year-to-date high after Shore Capital upgraded its stock recommendation from a hold to a buy.
This change of stance came on the back of promising developments within the company's game portfolio, notably the successful launch of Planet Zoo's console edition and the sale of publishing rights for RollerCoaster Tycoon 3 to Atari.
The company netted $7 million (£5.5 million) from the sale, comprising a mix of upfront and deferred cash, which should nicely bolster Frontier’s current-year earnings.
The market would appear to agree with you, biggest sign of life for a while so far this week. Hopefully bottomed out and beginning the long journey back up? We will see.
I would also say for the savings they're making, that 20% cut in annual operating costs they outlined is extremely high. I would actually defy anyone to find any other plc making cuts greater than this within a single financial year, so a bit ludicrous that poster complaining on this front.
This is publishing rights, frontier foundry was a failing publishing business anyway.
So it's the correct move and to focus on planet zoo IP
As of 31st March they report a cash balance of £23.4 million. In January they guided FY24 revenue to be £80-95 million, today's RNS maintains that. They have also previously given target of 20% reduction in annual operating costs - you should assume job losses are a part of that. Based on all this they have more than enough cash on hand to see through this year, before their target of break even FY25.
It’s concerning that they’ve sold the publishing right to Atari so … “The proceeds of the disposal will be utilised by the Company for general working capital purposes.”
They’ve boosted their balance sheet by £4 million this quarter by offloading IP. What about next quarter? There will be a few mill from Planet Zoo console. To prop up the books. What about quarter after that? No mention of any savings via axing jobs.
Desperate move by management
Very much agree... the latest platform in their Twitch is very positive... I'm thinking leaner company with much more focus. Its a pity they had to trash the SP but they seemed to have realised what they truly needed to focus on. Fingers crossed now and upwards trends should result.
Well, seems someone has finally listened to customers.
F1M24 annouced with 'Create a team' & reduced RRP of £29.99, along with improved AI that will poach drivers and staff. Steam discussion boards are v.positive.
Just these few extra bits of content has the potential to completely change the user experience & could be the first version finally worth the money with potential to claw back some losses from previous versions too.
After years of slating this company, imo, they may have just turned a corner.
Best keep quiet on this one 🤣
Just got stopped out, bet you it goes up now lol
Looks exhausted so surprising stuff especially seeing they have a lot of net cash and directors gobbled up big amounts
Gl
Just gone and bought some at £1.17
Great gain
Fallen too far now so probably should be accumulating some here with a very decent net cash
Sorry wrong BB
Have just bought the following
08/02/2024 Bought B702834323 48.88 10,777 5,276.48
They didn't give us a number, or even refer to job cuts directly but the biggest clue is as part of "Organisational Review" (surely a euphemism for firing) they referred to saving "20% of annual operating costs". That saving mooted to be in place from the start of FY25 - a lag I reckon due to the associated redundancies + potential one off restructuring costs but break even from next year onwards.
Does anyone know how many jobs were cut?
I’ve seen a few people on Twitter posting about needing a new job since they got axed. I just wonder if the management did it sufficiently to cover the bills this year.
Could do with some good news
Another F1 Manager.
Planet Zoo on PS5 and Xbox.
A brand new unannounced title releasing this year.
They’re supposed to be doing a show at 6pm tonight to showcase what Frontier is doing. It’s a monthly thing. Gonna be really disappointing if the main announcement is PS5 Planet Zoo.
Frontier's Planet Zoo is finally coming to PS5 and Xbox Series XS this March
Pulasthi Ariyasinghe
Jan 30, 2024 13:38 EST
https://www.neowin.net/amp/frontiers-planet-zoo-is-finally-coming-to-ps5-and-xbox-series-xs-this-march/