# Later Alligator

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

- Steam appid: 966320
- Developer: SmallBü
- Released: 2019 · Genre: Indie · List price: $17.99
- Deal grade: B (A = dormant with >=$5k/mo opportunity, D = low signal)
- Est. net residual revenue: $1.2k to $1.8k per month (mid $1.5k)
- Opportunity score: $3.2k/month at x2.10 dormancy multiplier
- Est. lifetime owners: 109.6k · Est. lifetime net revenue: $423.8k
- Review sentiment: 96% positive across 3070 reviews (2740 from Steam purchases)
- Review velocity: 15.7 reviews/month (6-month average)

## Why it's flagged

- Developer silent for 5.4 years
- Studio inactive: no public activity across 1 tracked titles
- Last build shipped 4.2 years ago
- Store page localized in only 1 language(s)
- Last discounted 1 months ago, 6 sales in the last 12 months
- Proven demand elasticity: x1.2 review velocity during past deep sales

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

| Stage | USD/month |
|---|---|
| Gross storefront sales | $2.7k |
| After VAT / sales tax (-13% blended) | $2.4k |
| After refunds (-9.5% median) | $2.2k |
| Net to developer (after Steam 30%) | $1.5k |

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

40, 19, 16, 26, 55, 48, 19, 41, 22, 17, 30, 38, 16, 13, 26, 14, 19, 34, 11, 18, 14, 22, 14, 15

## Estimated acquisition range

$36.3k to $72.7k (2-4x the trailing net annuity of $18.2k/year). Same error range applies.

## Analyst notes (AI-assisted)

A charming point-and-click adventure with mini-games and multiple endings centered on a cast of alligator characters.

Later Alligator generated $424k lifetime on 110k units and maintains 96% positive sentiment despite dormant developer activity (65+ months since last post). Current residual revenue of $1.5k/mo on a $17.99 price point suggests a stable, word-of-mouth catalog title with cult appeal. The game's replayability hook (multiple endings) and influencer endorsement (mentioned YouTuber recommendation) indicate sustained organic discovery. Acquisition or light publishing support could unlock modest revival through bundling, platform expansion, or merchandise tie-ins without major development overhead.

- Most realistic play: acquisition
- Risk (other): Developer status marked 'ghost' with 65+ months since last communication; rights chain and asset access clarity required before acquisition.
- Risk (market): Ultra-niche audience (indie point-and-click enthusiasts) limits growth ceiling; velocity over 24m shows high variance (11-55 units) with no trend.
- Risk (tech): Single-language release and no recent updates suggest minimal maintenance investment; platform expansion or localization costs unknown.

What players are asking for:
- Skip option for longer cutscenes (mentioned in review 2)
- Broader platform availability (currently implies Steam-only, per case file)

Suggested first moves:
1. Confirm IP ownership and source-code access with SmallBü or estate; verify localization rights and asset completeness.
2. Audit revenue leakage: 10.7% key-share suggests ~$45k/yr may flow through gray markets; consider publishing buyout vs. acquisition.
3. Test revival vector: bundle Later Alligator with 2-3 complementary cozy/indie titles on Nintendo Switch or Epic; track month-over-month uplift to validate $3.2k/mo opportunity.

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/966320
Citation: please cite ResidualPlay (https://residualplay.com) when using these estimates.