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Companies

An index of every company we cover. Each profile links to our research — from early discovery notes to complete reports and ongoing updates.


Asmodee (ASMDEEB)

Coverage: Case

Description

Asmodee (ticker: ASMDEEB) is a global leader in board games and trading card games with iconic franchises like Catan, Ticket to Ride, and Dobble. Operates across publishing, distribution, and digital, with 1,000+ IPs and a strong recurring revenue base. Acquired by Embracer in 2022 and spun off in 2025 to unlock standalone value. Asmodee (ticker: ASMDEE) is a global leader in board games and trading card games with iconic franchises like Catan, Ticket to Ride, and Dobble. Operates across publishing, distribution, and digital, with 1,000+ IPs and a strong recurring revenue base. Acquired by Embracer in 2022 and spun off in 2025 to unlock standalone value.


ASMDEEB

Asmodee Group (ASMDEEB): Leading Tabletop Gaming Through Strategic Spinoff

Jun 27, 2025

•

3 min read

Asmodee Group (ASMDEEB): Leading Tabletop Gaming Through Strategic Spinoff

D&G Small Cap believes Asmodee presents a compelling growth opportunity as the newly independent market leader in tabletop gaming.

Kristoffer Lindström
Kristoffer Lindström

ASMDEEB

Asmodee (ASMDEEB): Acquires the IP of Zombicide, Here is What We Know

Jun 10, 2025

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6 min read

Asmodee (ASMDEEB): Acquires the IP of Zombicide, Here is What We Know

This morning ASMDEE-B announced the acquisition of Zombicide. The IP encompasses multiple game lines.

Kristoffer Lindström
Kristoffer Lindström

ASMDEEB

Asmodee (ASMDEEB): Management Owns SEK +550m of Stock

Feb 5, 2025

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8 min read

Asmodee (ASMDEEB): Management Owns SEK +550m of Stock

The market has put a value of SEK 23bn on Asmodee; we dig into the management team and focus on ownership and a profile of the CEO, Thomas Koegler.

Kristoffer Lindström
Kristoffer Lindström

EMBRACER Group (EMBRACB)

Coverage: Case

Description

Embracer Group AB (ticker EMBRACB) is a Sweden-headquartered video game holding company listed on Nasdaq Stockholm. Founded through a series of acquisitions by Lars Wingefors, the group operates across the global gaming industry with activities spanning IP ownership, game development, publishing, and distribution. Its portfolio includes multiple operative groups and studios, covering segments from PC/console to mobile and tabletop games, making it one of Europe’s largest gaming conglomerates.


EMBRACB

Embracer Group (EMBRACB): Value Creative Buybacks

LockSimple

Sep 18, 2025

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6 min read

Embracer Group (EMBRACB): Value Creative Buybacks

Spin-off, insider buying, and now a buyback program.

Kristoffer Lindström
Kristoffer Lindström

EMBRACB

Embracer Group (EMBRACB) - Coffee Stain Spin-off Poised to Unlock SEK 9bn in Hidden Value

Aug 23, 2025

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3 min read

Embracer Group (EMBRACB) - Coffee Stain Spin-off Poised to Unlock SEK 9bn in Hidden Value

We are adding EMBRACB to our conviction list; investment memo inside.

Kristoffer Lindström
Kristoffer Lindström

EMBRACB

[Idea note] - Embracer Group: Undervalued Gaming Conglomerate with Multiple Value Catalysts

Jun 15, 2025

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4 min read

[Idea note] - Embracer Group: Undervalued Gaming Conglomerate with Multiple Value Catalysts

Lancelot Fonder believes that Embracer Group represents a compelling special situation investment despite...

Kristoffer Lindström
Kristoffer Lindström

EMBRACB

Embracer (EMBRACB): Strong KC:D2 Critic Score & Topping Charts + Asmodee X Date

Feb 4, 2025

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4 min read

Embracer (EMBRACB): Strong KC:D2 Critic Score & Topping Charts + Asmodee X Date

KC:D2 success and market valuation of Asmodee

Kristoffer Lindström
Kristoffer Lindström
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Better Collective (BETCO)

Coverage: Case

Description

Better Collective A/S (ticker BETCO) is a Denmark-based digital sports media company, publicly traded on Nasdaq Stockholm. Founded in 2004, the company operates a broad portfolio of global and national sports media brands, including Action Network, Playmaker HQ, Betarades, Soccernews, HLTV, FUTBIN, VegasInsider, SvenskaFans, Bolavip, and Redgol. It serves a sports-fan audience of over 450 million visits per month.


BETCO

Better Collective (BETCO) - July Traffic Tracker Update

Aug 18, 2025

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3 min read

Better Collective (BETCO) - July Traffic Tracker Update

Traffic decline accelerating.

Kristoffer Lindström
Kristoffer Lindström

BETCO

Better Collective (BETCO): Continued Traffic Weakness for Q2

Jul 25, 2025

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12 min read

Better Collective (BETCO): Continued Traffic Weakness for Q2

Estimates of website traffic to BETCO's websites show weakness, but the market does not seem to have noticed it.

Kristoffer Lindström
Kristoffer Lindström

BETCO

Better Collective (BETCO): Red flags from the Q1 report

May 26, 2025

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8 min read

Better Collective (BETCO): Red flags from the Q1 report

Brazil, cash flow and more.

Kristoffer Lindström
Kristoffer Lindström

BETCO

Better Collective (BETCO): Soft Guidance and Uncertainty

Feb 21, 2025

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10 min read

Better Collective (BETCO): Soft Guidance and Uncertainty

The most important new information in the Q4 report was related to the guidance for 2025 and beyond. Overall, management expects a flat development during the year, burdened by the Brazilian market. We see both risks and uncertainty ahead.

Kristoffer Lindström
Kristoffer Lindström
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Physitrack (PTRK)

Coverage: Case

Description

Physitrack PLC (ticker PTRK) is a UK-headquartered digital health company that went public on Nasdaq First North Premier Growth Market in Stockholm on June 18, 2021. The company specializes in B2B virtual care and SaaS-based patient engagement platforms, targeting physiotherapists, clinics, hospitals, occupational health providers, and corporate wellness programs.


PTRK

Physitrack (PTRK): European Insurer Deal Extends MSK Reach

Sep 26, 2025

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3 min read

Physitrack (PTRK): European Insurer Deal Extends MSK Reach

MSK-deal opens a new pathway.

Kristoffer Lindström
Kristoffer Lindström

PTRK

Physitrack (PTRK) - Overhang Lifted, Path to Fair Value Clears

Aug 26, 2025

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2 min read

Physitrack (PTRK) - Overhang Lifted, Path to Fair Value Clears

No more wet blanket.

Kristoffer Lindström
Kristoffer Lindström

PTRK

PTRK: Road to Value

Aug 1, 2025

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3 min read

PTRK: Road to Value

Research update on PTRK following the Q2'25 report.

Kristoffer Lindström
Kristoffer Lindström

PTRK

Physitrack (PTRK): What We Hope to See in the Q2 Report

Jul 17, 2025

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7 min read

Physitrack (PTRK): What We Hope to See in the Q2 Report

Physitrack (PTRK) is scheduled to release its report for the second quarter of 2025 on July 24. In this note, we outline the key points we will focus on when reviewing the report.

Kristoffer Lindström
Kristoffer Lindström
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X (XYZ)

Coverage: Case/Premium/Open

Description

XYZ


PTRK

Physitrack (PTRK): European Insurer Deal Extends MSK Reach

Sep 26, 2025

•

3 min read

Physitrack (PTRK): European Insurer Deal Extends MSK Reach

MSK-deal opens a new pathway.

Kristoffer Lindström
Kristoffer Lindström

PTRK

Physitrack (PTRK) - Overhang Lifted, Path to Fair Value Clears

Aug 26, 2025

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2 min read

Physitrack (PTRK) - Overhang Lifted, Path to Fair Value Clears

No more wet blanket.

Kristoffer Lindström
Kristoffer Lindström

PTRK

PTRK: Road to Value

Aug 1, 2025

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3 min read

PTRK: Road to Value

Research update on PTRK following the Q2'25 report.

Kristoffer Lindström
Kristoffer Lindström

PTRK

Physitrack (PTRK): What We Hope to See in the Q2 Report

Jul 17, 2025

•

7 min read

Physitrack (PTRK): What We Hope to See in the Q2 Report

Physitrack (PTRK) is scheduled to release its report for the second quarter of 2025 on July 24. In this note, we outline the key points we will focus on when reviewing the report.

Kristoffer Lindström
Kristoffer Lindström
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