cyanark43: m

$MSGM some important charts for anyone interested and some analysis regarding the same. 1. DAUs & MAUs: DAU and MAU numbers have maintained the elevated levels observed since the Version 1.0 release, and the baseline lifted significantly following the v1.2 update in December. As the charts show, the numbers have held this higher baseline, which bodes incredibly well for Q1'26. The game almost broke its highest DAU record during the 12-hour testing event last weekend. We might see a slight seasonal dip here, but expect a recovery later this month driven by the new DLC launch, alongside anticipated bug fixes and announcements regarding the Virtual Le Mans event. Keep in mind that the e-gaming segment has generated no revenue for two years, any contribution here will be a pure tailwind against $0 comps. 2. Revenue Estimate: The model suggests that revenue from base game sales will likely be flat QoQ. I am not concerned about this, as I expect top-line lift to be driven by Deferred Revenue converting to realized revenue this quarter. We should also see a better attach rate from DLC sales (following the large December release) and RaceControl revenue exiting the quarter at a potential $2.5M ARR. The average playtime chart proves our core thesis; players spending more time in game leads to higher retention and directly aids add-on sales. 3. F1 Arcade: The Las Vegas F1 Arcade opened in October (their largest location with the most sims), which will meaningfully boost the licensing revenue portion of the business. My estimation is that this segment is already doing > $1M ARR. There are 8 F1 Arcades open right now, and Kindred Concepts plans to scale to 30 by the end of 2027. This business alone could add more than $3M in recurring revenue by the end of next year at 85%+ gross margins. To put that into perspective, the company's total revenue for 2024 was ~$8.7M. It is entirely possible this stock goes from being completely ignored to a darling of FinTwit. Execution risks remain elevated, but the setup has the potential to deliver a $DBO.TO like move.