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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.
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Q4 2025 earnings summary22 Oct, 2025

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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Frequently asked questions

MAG Interactive AB develops and publishes mobile games worldwide. The company provides Wordbrain, a mobile word puzzle game; Flower Power, a match-3 game; QuizDuel, a quiz game; Ruzzle Adventure, a mobile game with the aim of guessing scrambled words based on a grid of letters; Ruzzle Free, a free version of the game that can be played with people all over the world; and Ruzzle Premium, a paid version of the game, which offers additional features. MAG Interactive AB was founded in 2010 and is headquartered in Stockholm, Sweden.

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