Asetek: Announces new partnership with US-based racing simulator reseller Podium 1
Asetek announced a new partner agreement with a US-based racing simulator reseller Podium 1. Asetek reports expected revenues from the partnership of around USD 1.5m in Q4 2024. The news follows a series of newsflow this week including the announcement of another distribution agreement with Australian-based Pagnian Imports, with expected revenues of USD 0.5m in Q4 2024.
However, Asetek has not upgraded its guidance following the announcements, maintaining full-year SimSports revenue guidance of USD 10-11m, and liquid cooling revenue guidance of USD 42-44m. SimSports revenues were USD 3.9m in H1 2024, suggesting backloaded sales FY 2024, also supported by the recent newsflow.
Disclaimer: HC Andersen Capital receives payment from Asetek for a digitalIR/corporate visibility subscription agreement./Philip Coombes 16:10 18.10.2024.
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Asetek
Asetek is a global leader within liquid cooling solutions for high-end PC’s and also produces high-end equipment for SimSports. Asetek was listed on the OBX Oslo Stock Exchange in 2013. Asetek’s liquid cooling of high-end PC’s and eSports enthusiasts is its largest segment. Its sealed loop liquid cooler supports the thermal challenges of the computers and can also be implemented at data centers to provide significant energy savings and recapturing of heat against the air cooling industry norm; however, this segment remains relatively smaller. In 2021 Asetek made its first expansion into the SimSports Gaming market with its high-end SimRacing pedals, designed to create an immersive experience for sim racers. Asetek plans to expand further into the SimRacing value chain with ambitions to release wheelbases, steering wheels, shifters, and other end-user customization options.
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