Gamethrill (THRILL) Q2 2024 earnings summary

Executive summary

• Q2 2024 net revenue was 1.4 MSEK, down from 1.6 MSEK in Q2 2023, with EBITDA at -0.4 MSEK versus -0.1 MSEK year-over-year.

• Result after financial items was -0.6 MSEK, compared to -0.3 MSEK in Q2 2023; net result for the period was -631,081 SEK.

• Key milestones included the launch of Wurm Online's Guidence expansion and progress in developing the new game Kwizit.

• Lower event activity and increased development costs for Kwizit negatively impacted quarterly results.

Financial highlights

• Q2 2024 total revenue: 1.5 MSEK (Q2 2023: 1.6 MSEK); EBITDA: -0.4 MSEK (Q2 2023: -0.1 MSEK).

• Result after financial items: -0.6 MSEK (Q2 2023: -0.3 MSEK); net result per share: -0.02 SEK (Q2 2023: -0.01 SEK).

• Cash and cash equivalents at period end: 3.8 MSEK (Q2 2023: 5.3 MSEK).

• Equity ratio at 80.4% (Q2 2023: 83.2%).

• Operating cash flow for Q2 2024 was -440,216 SEK.

Outlook and guidance

• Management expects growth in premium players for Wurm Online following the Guidence expansion.

• Anticipates further milestones for Kwizit and continued focus on product development.