Redeye reiterates its positive view on Stillfront following its Q1 2021 earnings release. Organic growth was robust during the quarter, considering the significant FX tailwinds Y/Y. We argue that the risks are lower than ever in Stillfront as the company diversifies its revenue streams, both in terms of broadening the ever-expanding games portfolio and increasing the contribution from ad bookings. The risk-reward at current levels appears very attractive.