• Technology developments made within Digital Cash and Gesture Interaction
• We see a delay in Digital Cash revenues
• We lower our valuation to SEK 41.60 – 66.20 (49.80 – 79.50) per share

Crunchfish’s report for the third quarter showed that technological advancements have been made within both Digital Cash and Gesture Interaction. As a complement to Digital Cash offline, a patent for Digital Cash online has been filed in November. New products are also being developed within Gesture Interaction. However, despite Digital Cash online making the onboarding of new users easier, it has taken longer time than expected to get started. Thus, we have delayed some revenue and our new baseline forecast entails a level from which Crunchfish has a better chance of surpassing our expectations. Financially, cash reserves were replenished with a unit issue this autumn and we see no further share issues on the horizon as a result. In summary, we lower our valuation interval to SEK 41.60 – 66.20 per share.

The full report is available here.