Fragbite Group (FRAG) Status Update summary

Financial performance and restructuring

• Q2 net revenue was SEK 41.4 million, with total group revenue close to SEK 50 million, down due to the sale of hyper-casual games last year.

• Adjusted EBITDA for Q2 was negative SEK 1.1 million, impacted by the Fall Damage bankruptcy and restructuring costs.

• Significant cost reductions implemented, saving SEK 950,000 per month, totaling SEK 11 million annually.

• Group expects to be profitable from July onwards, with profitability measured on a cash EBITDA basis.

• SEK 61 million was injected via a rights issue, with net SEK 10-11 million after debt repayment and fees.

Playdigious business update and pipeline

• Playdigious updated its pipeline guidance to 11 games, expected to generate €10–17 million over three years, up from €6–14 million.

• Loop Hero mobile release surpassed 1 million downloads, driving adoption of the free-to-try model for future titles.

• Two new Playdigious Original games, Fretless and Crown Gambit, are planned for release in 2025, with strong early feedback.

• Back catalog titles like Dead Cells and Northgard continue to perform well, especially in China.

• Playdigious is preparing for platform expansion, including being among the first publishers on the new Epic Games mobile store.

Web3 and Koban token developments

• Web3 gaming is focused on free-to-play games with blockchain-based digital assets, offering new revenue streams and player ownership.

• NFT sales have reached SEK 12.3 million, and private Koban token sales have totaled SEK 38 million, funding game development.

• The Koban token public launch is imminent, with DAO Maker as a key launchpad partner and further launchpads and exchanges to be announced.

• The Koban ecosystem is expanding, with more games and integration of Web2 IPs into Web3.