Goodbye Kansas Group (GBK) Q2 2025 earnings summary

Executive summary

• Net sales grew 59% year-over-year in Q2 2025 to SEK 43.1 million, driven by gaming projects and a large immersive video project.

• EBITDA loss narrowed to SEK -12.4 million from SEK -22.9 million year-over-year, reflecting higher sales and reduced costs.

• EBIT improved to SEK -12.8 million from SEK -25.5 million in Q2 2024.

• Cash and cash equivalents remained stable at SEK 3.1 million as of June 30, 2025.

• The company secured several significant new orders in gaming and immersive content, supporting future growth.

Financial highlights

• Q2 net sales: SEK 43.1 million (up 59% year-over-year); H1 net sales: SEK 88.5 million (up 53%).

• Q2 EBITDA: SEK -12.4 million (improved from SEK -22.9 million); H1 EBITDA: SEK -15.5 million (improved from SEK -44.9 million).

• Q2 EBIT: SEK -12.8 million (improved from SEK -25.5 million); H1 EBIT: SEK -16.3 million (improved from SEK -50.2 million).

• Q2 earnings per share: SEK -0.40 (improved from SEK -1.17); H1 EPS: SEK -0.56 (improved from SEK -2.29).

• Cash flow from operating activities in Q2 improved to SEK -10.6 million from SEK -27.9 million year-over-year.

Outlook and guidance

• Management expects continued sales growth in H2 2025, supported by new orders totaling over SEK 40 million.

• Volatility and market uncertainty remain, but profitability is targeted at lower sales levels due to restructuring.

• The gaming sector remains the primary growth driver, with VFX and immersive content expected to contribute more.