Investor Presentation
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Operating expenses - Trends
2021 1H
2021 2H
FY21
2022 1H
Trend
Headcount - up 22% YOY due to:
Payroll
8.7
5.8
15.5
6.3
Slow rise
Stock compensation expense
12.9
42.3
55.2
11.5
Steady fall
1) acquisitions
2) scaling for growth
Professional fees
2.4
7.1
9.5
2.9
Slow fall
Travel and entertainment
0.0
0.3
0.3
0.3
Slow rise
Office
0.1
0.2
0.3
0.1
Steady
Insurance
0.0
0.2
0.2
0.5
Slight fall
Administration and other costs
1.9
17.6
19.5
2.6
Steady
Foreign exchange movements
(0.4)
0.6
0.2
2.0
Possible rise
Amortisation of intellectual property
1.8
3.8
5.7
3.8
Slow fall
and depreciation of PPE
Total Operating Expenses
27.4
77.9
105.3
29.9
Steady
Professional fees - M&A-related,
company building blocks (EBT, LTIP, IP
trademarking etc)
New additions ensure quality & reduce
third-party expenses, including:
Bringing professional fees in-house (tax,
legal), building QA oversight team etc
PLC-related fees - D&O insurance,
directors fees, Nomad Fees, Exchange
Fees, RSN etc
Cash operating expenses
16.4
32.4
48.8
12.6
Steady
Excluding FG special bonus 1H 2021
10.4
32.4
48.8
12.6
Steady
Devolver Digital
Investor Presentation
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