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Edge28 Nov 2025
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Maximum Entertainment (MAXENT) investor relations material
Maximum Entertainment Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary5 Nov, 2025
Executive summary
Q3 2025 saw net sales decline 10% year-over-year to €15.5M, with gross margin dropping to 22% from 24%.
Adjusted EBITDA improved to €0.5M from -€0.2M, but EPS remained negative at -€0.24.
The company faced existential financial challenges, continued cost-cutting, and ongoing dependence on new financing.
Staff reductions led to a headcount of 114, down from 181 a year earlier.
Key game launches and updates included Bye Sweet Carole, Overthrown 1.0, and Smalland: The Underlands.
Financial highlights
Q3 net sales: €15.5M (down from €17.2M); YTD net sales: €44.2M (down from €54.5M).
Q3 gross margin: 22% (down from 24%); YTD gross margin: 26% (down from 30%).
Adjusted EBITDA Q3: €0.5M (up from -€0.2M); YTD: €1.4M (down from €3.1M).
Q3 EPS: -€0.24 (improved from -€0.40); YTD EPS: -€0.51 (worse than -€0.44).
Cash flow from operations Q3: -€1.5M (down from €2.7M); YTD: €2.1M (down from €8.9M).
Outlook and guidance
Q4 expected to benefit from successful launches like Bye Sweet Carole and Squirrel With a Gun on Switch 2.
Continued focus on cost discipline, operational delivery, and securing additional financing.
Building a leaner, more resilient organization to address ongoing financial challenges.
Cash constraints impact on Q4 release pipeline?
What is the strategy for the earn-out arbitration?
How will Owned IP strategy evolve post-impairments?
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Next Maximum Entertainment earnings date
Q4 202511 Feb, 2026
Next Maximum Entertainment earnings date
Q4 202511 Feb, 2026
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Frequently asked questions
Zordix AB develops, publishes, and distributes games for PC and console worldwide. The company's games are based on a technology platform built and developed by Zordix AB. The platform includes game engines, tools, online services, and licensed middle-ware. It develops game titles for a range of platforms primarily the Nintendo Switch, Microsoft Xbox One, Sony Playstation 4, PC, Amazon Fire TV and Apple TV. Zordix AB (publ) was founded in 2008 and is headquartered in Umeå, Sweden.
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