Redeye: Stillfront Group - Still in the front

Stillfront Group showed yet another record quarter both in terms of revenue and profits during Q3. The product segments Core and Big were especially impressive. This was the first quarter with Kixeye consolidated in the books. The acquisition boosted the growth rate, but the company still grew organically by roughly 20%. We raise our Base-case valuation; the market seems to underappreciate the growth ahead, and we see an attractive valuation.

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