Gamethrill (THRILL) Q3 2025 earnings summary

Executive summary

• Focus on building a foundation for interactive entertainment, with Kwizit as the main growth driver and Wurm Online providing stable revenue through a loyal player base.

• Continued operational efficiency efforts, including cost reductions expected to lower annual expenses by 0.5 MSEK starting Q4.

• Major content update and limited-time campaigns launched in Wurm Online to boost engagement and recurring revenue.

Financial highlights

• Net revenue for Q3 2025 was 1.5 MSEK, down from 1.6 MSEK in Q3 2024.

• EBITDA for Q3 2025 was -0.3 MSEK, unchanged from Q3 2024.

• Net result for Q3 2025 was -0.3 MSEK, an improvement from -0.4 MSEK in Q3 2024.

• Cash and cash equivalents at period end were 2.25 MSEK, down from 3.56 MSEK a year earlier.

Outlook and guidance

• Ongoing focus on cost efficiency, product development, and gradual introduction of monetization models in Kwizit.

• Balanced approach between maintaining stable revenues from Wurm Online and pursuing growth opportunities with Kwizit.