First quarter 2024
- Revenue amounted to
SEK 52.5 (55.2) million - EBITDA amounted to
SEK 6.5 (2.3) million - EBIT amounted to
SEK 2.4 (0.2) million - Profit for the period was
SEK -22.0 (-4.8) million - Cash flow from operating activities was
SEK 3.6 (-14.1) million - Basic earnings per share amounted to
SEK -0.20 (-0.05) - Diluted earnings per share amounted to
SEK -0.20 (-0.05)
Significant events during the period
- This is the Group’s first financial report prepared in accordance with IFRS. Comparative figures have been restated.
- Board member
Zara Zamani is appointed as acting CEO of till Lucky Kat. - Playdigious releases Potion Permit on mobile platforms.
- Playdigious announces the upcoming release of Loop Hero on mobile platforms.
- Playdigious enters into an agreement on publishing Linkito under Playdigious Originals.
- Playdigious announces the upcoming release of Skul on mobile plattforms.
Significant events after the end of the period
- The Company updates its net revenue estimates for Playdigious’ pipeline of upcoming new game releases to which further titles have been added. Total estimated net revenue three years from release increases to between
EUR 10 and 17+ million. - Playdigious releases Loop Hero on mobile platforms.
- Playdigious announces the release of Teenage Mutant Ninja Turtles: Shredder’s Revenge on
Apple App Store andGoogle Play Store in November, alongside extended distribution via Netflix.
CEO comments
Net revenue for the first quarter amounted to
Playdigious’ pipeline increases in value
Our French subsidiary has continued to stay on course by signing a number of key agreements during the quarter that expanded their pipeline of new game titles, for which
What is key is that despite a near same number of upcoming game releases, the value of Playdigious' pipeline has increased significantly, fuelled by the fact that we now have more major game titles to look forward to. If anything, this is a testament to the Playdigious brand growing stronger. In addition to an expanded pipeline of new games, where more discussions are underway, work continues to gradually expand the distribution of the entire Playdigious game portfolio to new platforms and geographical markets.
The quarter saw the release of Potion Permit, and another title was approved for release in
FunRock &
MMA Manager 2 demonstrated growth in the first quarter of 2024 compared to the same quarter last year, which is very positive. The successful UA campaign initiated this fall has continued during the spring, resulting in the game recently reaching over 4 million downloads. During the period, the team
has also worked on targeted updates to improve game experience and further drive microtransactions, and in the coming months we will continue to optimise marketing resources to enable further steps forward. Work also continues on increasing the profitability of the subsidiary, including expanding the business towards new revenue models, something which we will further outline in the upcoming report.
Strong start to 2024 for Esports
After reaching profitability for the full year 2023, the esports business looks set to outperform last year in 2024. This business typically has its strongest period in the second half of the year, but the team has already made good progress in closing sales for new projects for Config as well as sponsors for the Swedish Cup.
$KOBAN launch
In our web3 business area,
Fall Damage
Dialogues with several potential partners for Fall Damage's game ALARA Prime have taken longer than expected. The feedback we have received regarding the game has been consistently very good. We have also had more dialogues than expected, and this has contributed to the process being time-consuming and lasting longer than optimal. Game development is otherwise on track and the game is ready for release by the end of the third quarter, with the possibility of a soft release already this summer.
We are target-oriented
Finally, I would like to emphasise that we are target-oriented and working hard to make
President and CEO
The report is attached to this press release and available for download from the
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