Goodbye Kansas Group (GBK) Q1 2025 earnings summary

Executive summary

• Net sales rose 48% year-over-year to SEK 45.4 million, driven by strong new gaming project sales.

• EBITDA loss narrowed to SEK -3.1 million from SEK -22.0 million year-over-year, reflecting higher sales and reduced operating expenses.

• Strategic partnership with NY VFXWAALA strengthened, making it the largest shareholder after convertible loan conversion.

• Major new orders secured in both gaming and immersive video installations, supporting future revenue.

Financial highlights

• EBIT improved to SEK -3.5 million from SEK -24.7 million year-over-year.

• Profit before tax was SEK -5.4 million, up from SEK -23.9 million year-over-year.

• Earnings per share before and after dilution improved to SEK -0.16 from SEK -4.28 year-over-year.

• Cash and cash equivalents at quarter-end were SEK 11.2 million, compared to SEK 12.3 million a year earlier.

• Cash flow from operating activities improved to SEK -2.6 million from SEK -24.9 million year-over-year.

Outlook and guidance

• Previous financial outlook for 2025 (net sales SEK 280–310 million, EBITDA margin 10%) withdrawn due to increased global and industry uncertainty; now a target, not a forecast.

• No new guidance will be provided for the remainder of the year.