TROPHY GAMES Development (TGAMES) investor relations material

Financial performance and guidance

• Revenue for H1 2026 reached DKK 86.0m, up 90% YoY, with EBITDA at DKK 16.1m, a 67% YoY increase.

• Revenue guidance for 2026 was raised to DKK 150-167m from the previous DKK 130-153m.

• Gross margin for games improved to 77.1% in Q2 2026, up 3.8 percentage points YoY.

• Cash position at June 30, 2026, was DKK 66.7m, with no interest-bearing debt and an 84% solvency ratio.

• Marketing spend increased 136% YoY to DKK 32.2m, supporting portfolio growth.

Portfolio and business development

• Major revenue growth in Transport series, with Farm Manager up 19,366% and Truck Manager up 253% YoY.

• New titles in development include Train Manager 2, Goldmine Manager, Fishing Manager, Horse Breeding Manager, and World Truck Simulator.

• Expansion into new genres using proven frameworks, aiming for repeatable success and risk mitigation.

• Strategic focus on scaling successful game mechanics across multiple themes and platforms.

• M&A remains a key lever for portfolio expansion, targeting games with proven monetization.

Marketing and user acquisition strategy

• Diversified from 1 to 4 profitable ad networks, reducing platform risk and testing new ad formats like ChatGPT Ads.

• Considering extending UA payback window from 6 to 9 months to accelerate market share gains.

• Google partnership delivers lower fees and Play Store Level Up Program, expected to boost monetization and retention.

• Hybrid UA approach expands total addressable market by targeting both paying and non-paying users.

• Marketing allocation prioritizes scaling titles with high EBITDA contribution.