9 Comments
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Compound & Fire's avatar

Nice write up! The margin pressure I dont see as bad, as the tax hike was known and expected, so in my opinion it is just the higher operational costs which were not expected and this is purely linked to expected growth.

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Noordermeer Capital's avatar

Any idea why they provide 24/25% constant currency growth?

Doesn’t seem correct because they say they get paid in USD, EUR, CAD & GBP.

24/25% would be the growth rate we’re looking for.

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Ali Gündüz's avatar

Players can deposit and play with local currencies from which EVO's USD or EUR billings are derived. So, although all their billings (and hence sales) are in USD/EUR/etc, EVO's revenue growth is exposed to local currencies that players wager on.

Company explained it in its Q3 earnings: https://www.dontdistribute.com/i/138309480/currency-effect

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Mazinguer's avatar

Thanks for the information!

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Karthik Rajeshwaran's avatar

Steady ship!

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Farrer Wealth Advisors's avatar

yeah i think your chart on where growth comes from nailed it. if Asia continues to grow at this pace then regulated revenue continues to fall as a % and invetors don't like that. but honestly its just a matter of time before brazil/more US states come on line.

Also that RNG chart looks so sad :( haha

Enjoy AGM - what will you ask them?

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Nicolò Rolando's avatar

Really well written

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Seeking Aurum's avatar

Thanks Ali for the update 🙏 Have fun at the AGM 🥳

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Johan 204's avatar

Great review of quarter like this, thank you. Evo looks cheap (again)

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