Adventure Box Technology (ADVBOX) Q4 2024 earnings summary

Executive summary

• Net sales for Q4 2024 were SEK 125 thousand, down from SEK 165 thousand in Q4 2023; full-year net sales were SEK 579 thousand, down from SEK 1,692 thousand year-over-year.

• Loss after tax in Q4 2024 was SEK -16,472 thousand (Q4 2023: SEK -4,229 thousand); full-year loss after tax was SEK -32,297 thousand (2023: SEK -14,333 thousand).

• Major strategic move with the acquisition of Lion Gaming Group Inc. for approximately SEK 467 million, completed January 2025.

• Share issues and bridge financing raised SEK 11,427 thousand during the year to support operations and acquisition.

• Leadership transition: Duncan McIntyre appointed CEO in January 2025, with new board members and chairman changes.

Financial highlights

• Q4 2024 EBIT was SEK -16,530 thousand (Q4 2023: SEK -4,260 thousand); full-year EBIT was SEK -32,629 thousand (2023: SEK -14,935 thousand).

• Earnings per share for Q4 2024 were SEK -0.23 (Q4 2023: SEK -0.14); full-year EPS was SEK -0.61 (2023: SEK -0.47).

• Cash and cash equivalents at year-end were SEK 46 thousand (2023: SEK 1,328 thousand); equity at year-end was SEK -6,764 thousand (2023: SEK 15,174 thousand).

• Net cash flow before financial items for the year was SEK -10,155 thousand (2023: SEK -10,580 thousand).

• Write-off of intangible assets totaling SEK 7,017 thousand impacted results.

Outlook and guidance

• Focus on integrating Lion Gaming Group and expanding into the iGaming sector.

• Continued development of the KoGaMa platform with emphasis on social features, mobile compatibility, and monetization.

• Exploring further acquisitions, with letters of intent signed for RWB Smar Solutions, Blok Sports, Sparx Technologies, and Zefr Media.

• Management expects improved profitability and liquidity through Lion's network and market presence.