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MAG Interactive (MAGI) investor relations material
MAG Interactive Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Crozzle became the second largest game in the portfolio during Q4, driving significant growth and optimism for future scaling, especially as it expands into new markets beyond the U.S.
QuizDuel had its top-performing year, continued to grow, and remains a key focus for future profitability improvements.
Over 350 million downloads achieved, highlighting strong global reach and brand presence.
User acquisition costs surged, nearly matching Q1–Q3 combined, as the company invested heavily in Crozzle's growth.
Two additional games entered market testing in Q4, with more expected in the first half of the financial year, enabled by a new development platform.
Financial highlights
Q4 net sales reached 77 MSEK, up from 66 MSEK, representing a 16% year-over-year increase; organic growth in USD was 31%.
ARPDAU rose 46% year-over-year, reaching 9.5 US cents in Q4, primarily due to Crozzle's high-value users.
Adjusted EBITDA for Q4 was 5,055 KSEK, down from 20,049 KSEK, with margin impacted by higher user acquisition costs.
Cash balance ended at 87 million SEK, slightly down from the previous quarter.
Q4 free cash flow was -2,650 KSEK, down from 9,689 KSEK.
Outlook and guidance
Focus remains on scaling Crozzle globally, with launches in Sweden and plans for Germany and France soon.
Targeting quarterly revenues north of SEK 100 million to achieve better profit margins.
Continued investment in UA expected to temporarily pressure profit margins, with long-term growth anticipated from new and existing games.
New games are in market testing, with more expected to enter testing in H1, leveraging the new platform for faster launches.
QuizDuel Team Play and Wordzee platform upgrades are anticipated to boost engagement and revenue.
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