# Kindergarten 2

> ResidualPlay case file: an overlooked Steam game still earning residual revenue. Estimates carry a ±30-50% error range per title.

- Steam appid: 1067850
- Developer: Con Man Games
- Publisher: SmashGames
- Released: 2019 · Genre: Adventure · List price: $14.99
- Deal grade: A (A = dormant with >=$5k/mo opportunity, D = low signal)
- Est. net residual revenue: $3.3k to $4.9k per month (mid $4.1k)
- Opportunity score: $8.6k/month at x2.10 dormancy multiplier
- Est. lifetime owners: 223.8k · Est. lifetime net revenue: $721.0k
- Review sentiment: 98% positive across 5785 reviews (5594 from Steam purchases)
- Review velocity: 50.8 reviews/month (6-month average)

## Why it's flagged

- Developer silent for 3.5 years
- Studio active elsewhere (3 titles tracked), so this one may welcome a partner
- Last build shipped 3.5 years ago
- Store page localized in only 1 language(s)
- Last discounted 1 months ago, 5 sales in the last 12 months
- Proven demand elasticity: x1.4 review velocity during past deep sales

## Where a gross dollar goes (monthly, at current velocity)

| Stage | USD/month |
|---|---|
| Gross storefront sales | $7.4k |
| After VAT / sales tax (-13% blended) | $6.5k |
| After refunds (-9.5% median) | $5.9k |
| Net to developer (after Steam 30%) | $4.1k |

## Monthly review counts, oldest to newest (24 months)

71, 49, 49, 60, 75, 69, 55, 55, 50, 41, 160, 216, 76, 60, 64, 35, 69, 58, 60, 46, 33, 38, 43, 85

## Estimated acquisition range

$98.3k to $196.5k (2-4x the trailing net annuity of $49.1k/year). Same error range applies.

## Analyst notes (AI-assisted)

A dark-comedy adventure puzzle game set in a surreal kindergarten where players solve mysteries, collect creatures (Monstermon), and experiment with dialogue choices.

Kindergarten 2 sits in an unusual quiet zone: it's generating $4,095/mo in residual revenue off a small but intensely engaged 98% positive community, yet shows zero developer communication in 3.5 years and minimal promotional activity (5 discounts in 12m). The franchise appears stable (three titles exist; studio is operating) and the IP is owned in-house, making this an attractive quiet-cash candidate for a publisher seeking to unlock revival upside via community engagement, a sequel roadmap signal, or international localization (only 1 language tracked).

- Most realistic play: publishing
- Risk (market): Mainstream audience reach is limited; the title trades on a niche dark-comedy aesthetic and reward-grinding mechanics that may not scale to broader demographics.
- Risk (tech): No dev posts or patches logged in 42 months suggests potential technical debt or platform drift, particularly relevant if multiplayer or live-service elements are planned.
- Risk (other): High elasticity (1.35) indicates players are price-sensitive; aggressive discounting campaigns could erode perceived value and margin.

What players are asking for:
- Better in-game hint system or quality-of-life guidance (players report forced reliance on external tutorials for non-obvious puzzles)
- Kindergarten 3 sequel confirmation and roadmap visibility
- Character-specific storylines and expanded role for returning favorites like Nugget

Suggested first moves:
1. Audit the three-game franchise IP, revenue split, and sequel rights; confirm Con Man Games retains full ownership and whether SmashGames holds publishing obligations or rights reversion clauses.
2. Commission a player survey via Steam announcements and community hub to quantify demand for: Kindergarten 3 greenlight, hint system/accessibility updates, and international versions (current 1-language footprint suggests untapped regional revenue).
3. Model a light-touch revival campaign: re-discount to 40-50% for 2-4 weeks to test elasticity, pair with a dev blog post (even 200 words) confirming studio status, and measure uptick velocity against the current $4,095/mo baseline to justify larger investment.

Generated 2026-08-20 from public signals and player reviews. Directional, not diligence.

## Methodology

Units are estimated from Steam-purchase reviews times a release-cohort multiplier (Boxleiter method, 20-75x by year). Revenue uses an effective price (lifetime discounts and regional pricing) and nets out VAT (~13%), refunds (~9.5%) and Steam's 30% cut: roughly 55% of gross reaches the developer.

Source: https://residualplay.com/game/1067850
Citation: please cite ResidualPlay (https://residualplay.com) when using these estimates.