1Sem.·

scam or tenbagger

Nice rise after figures today at $HACK (-4,43 %)

The company has almost no debt, a PEG of 0.4 and a net margin of 76%, which is quite high for a gaming company. I'm still looking for the hook at 12 P/E and net income of +51% YoY, but haven't been able to find anything yet.


Other key figures:


-79 new deals in the quarter

-12 new own games, 15 third-party titles

-New license in Connecticut (USA) - Important step into a regulated market

-Investment in Jinx Gaming to strengthen the ecosystem

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8 Commentaires

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1Sem.
You know that if something is too good to be true, then it usually isn't true. 🤷
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@Epi that's why it makes me wonder 😂
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@Epi This is probably a universal law of nature that you often learn the hard way.
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@Epi Just like in Thailand... 😅
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1Sem.
@Olli68 I'd rather not ask what you may have learned the hard way in Thailand... 🫪
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I want a Steam (Valve) IPO
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Hacksaw AB (STO:HACK) is a Swedish B2B technology company and game developer for the iGaming industry with exceptionally high margins and a scalable software business model.

Platform Moat: OpenRGS™ is a proprietary RGS stack - the more third-party studios use the platform, the more attractive it becomes for operators, which in turn attracts new studios (self-reinforcing cycle)
Regulatory moat: Already licensed in 35+ regulated markets (UK, Malta, Sweden, several US states); third-party providers inherit Hacksaw's approvals via OpenRGS™
Cost structure: A game is developed by only 2 developers in ~22 weeks; hardly any running costs after launch - marginal costs for new operators or players almost zero

Key financial figures at a glance
Hacksaw achieved annual sales of c. EUR 197m in 2025 (+44% YoY) with a gross margin of 96% and a net margin of ~68% Market capitalization is ~ SEK 19.5bn (c. EUR 1.7bn), P/E TTM ~15 and forward P/E ~10 Management aims to distribute 75% of net profit via dividends and buybacks
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Mince is available from the butcher ... :-)
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