Devolver Digital wants to get off the stock market, because 'the ongoing challenge of delivering growth in line with market expectations' just isn't worth the headaches

Devolver Digital, the indie game publisher, is considering returning to private status after five years on the London Stock Exchange. In an announcement on their website, the company's board of directors explained their decision, citing the challenges of growth in line with market expectations and the impact of the videogame industry's instability.

Since going public in November 2021, Devolver has faced difficulties, including widespread studio and publisher layoffs, platform rationalization, and substantial impairments across the industry. The company's valuation has plummeted due to the timing and scale of new game releases, which are unpredictable and don't align with the market's demand for sequential growth.

Devolver believes going private will allow them to focus on long-term health and avoid the pressures of satisfying shareholders, such as layoffs and cancellations. The company's annual savings from going private are estimated at $1.6 million. A vote on the proposal will take place in September.