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Devolver Digital has published c 150 games over its lifetime, generating a revenue CAGR of c 15% per year through a period of both industry boom and slump. As the industry emerges from the post-COVID hiatus, we revisit the group’s recent FY25 results, highlighting how the main elements of our investment case were key drivers of the performance. We also update our forecasts and raise our fair value estimate to 43p/share from 36p previously.
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Devolver Dig. S (DEVO)
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