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Investor Relations14 Oct 2025
Boost Your Earnings Season Strategy With Real‑Time Alerts
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Thunderful Group (THUNDR) investor relations material
Thunderful Group Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary27 Aug, 2025
Executive summary
Net revenue for Q2 2025 was 58.9 MSEK, down 29% year-over-year, with FX effects accounting for about one-third of the decline; half-year revenue was 120.9 MSEK, down 14.3%.
Adjusted EBITDA was -23.2 MSEK, and EBIT improved to -51.3 MSEK from -61.7 MSEK; half-year EBIT was -117.0 MSEK.
Major restructuring and recapitalization announced post-quarter, including a 50 MSEK share issue to Atari, making it the new majority owner pending approval.
Headcount reduced by 36% year-over-year, with further reductions expected from new restructuring.
CEO Martin Walfisz to step down by year-end 2025.
Financial highlights
Net revenue: 58.9 MSEK (83.1 MSEK Q2 2024), down 29% year-over-year.
Adjusted EBITDA: -23.2 MSEK (2.5 MSEK Q2 2024); adjusted EBITA at -47.1 MSEK.
EBIT: -51.3 MSEK (-61.7 MSEK Q2 2024), improvement due to lower write-downs.
Net loss for Q2 was -64.9 MSEK, improved from -163.6 MSEK last year; EPS at -0.87.
Cash flow from operations: -27.3 MSEK; available liquidity: 32 MSEK.
Outlook and guidance
Restructuring program aims to cut costs by 6-8 MSEK in H2 2025 and 40-45 MSEK in 2026.
Focus on reaching positive cash flow, maximizing commercial performance of upcoming releases, and building long-term player communities.
Emphasis on securing new and existing co-development contracts for 2026 and beyond.
Several key game launches planned for H2 2025 and early 2026, including "Godbreakers," "Aska," and "Replaced."
What is the key condition for recapitalization?
How do future game releases affect liquidity?
How does restructuring align with release plan?
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Next Thunderful Group earnings date
Q3 202513 Nov, 2025
Next Thunderful Group earnings date
Q3 202513 Nov, 2025
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Frequently asked questions
Thunderful Group AB develops and publishes personal computer, console, and mobile games in Sweden and internationally. Its game portfolio is categorized into three segments: Thunderful Publishing, Rising Star Games, and Image & Form International. The company offers its products through the digital stores of various publishers. The company was founded in 1965 and is headquartered in Gothenburg, Sweden.
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