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Qiiwi Games
Qiiwi Games (QIIWI) investor relations material
Qiiwi Games Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary19 Feb, 2026
Executive summary
Stable Q4 2025 with a strategic shift toward innovation and new games, highlighted by significant progress in new game development and Backpacker® Go! achieving new IAP sales records.
Portfolio delivered stable performance, with sequential revenue growth driven by Backpacker® Go!
Revenue for Q4 2025 was 3,618 TSEK, down from 3,958 TSEK in Q4 2024; full-year revenue was 15,273 TSEK, down from 19,859 TSEK year-over-year.
EBITDA for Q4 2025 was -602 TSEK, an improvement from -4,769 TSEK for the full year; EBIT for Q4 was -970 TSEK.
Major cost savings implemented in 2025, with full effect expected from Q1 2026.
Financial highlights
Q4 2025 revenue was 3.6 MSEK, down 9% year-over-year, but up 4% sequentially from Q3 2025.
EBITDA for Q4 2025 was -0.6 MSEK, improving from -0.8 MSEK in Q3 2025 and marking the best result in 2025.
EBIT for Q4 2025 was -0.97 MSEK, compared to -0.35 MSEK in Q4 2024.
Net result after tax for Q4 2025 was -0.92 MSEK, compared to 0.80 MSEK in Q4 2024.
Cash and short-term investments at year-end totaled 13.2 MSEK.
Outlook and guidance
Well positioned to reach break-even levels, with cost savings to have full effect in Q1 2026.
Focus remains on developing scalable, profitable new games and maintaining Live Operations performance.
Marketing investments expected to remain stable until a new game justifies higher spend.
Continued focus on leveraging AI tools for faster prototyping and testing.
New game market test results and next steps
Live Ops break-even drivers and certainty
Impact of IAP shift on Branded Games strategy
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Next Qiiwi Games earnings date
Q1 202613 May, 2026
Qiiwi Games
Next Qiiwi Games earnings date
Q1 202613 May, 2026
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Frequently asked questions
Qiiwi Games develops, publishes and distributes games for mobile platforms. It also develops other entertainment applications for platforms on the Internet and mobile communication networks. The company's current operations started in 2012 and is based in Stockholm.
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