Jumpgate (GATE) Q2 2025 earnings summary

Executive summary

• Net turnover for Q2 2025 was 11.3 MSEK, a 39% decrease year-over-year, mainly due to project completion at Nukklear and the divestiture of Tableflip; H1 2025 turnover was 24.9 MSEK, down from 34.9 MSEK year-over-year.

• EBIT for Q2 2025 was -1.4 MSEK, down by 3.0 MSEK year-over-year, and H1 2025 EBIT was -7.0 MSEK (vs. -6.0 MSEK); sequential cost reductions improved EBIT from -5.6 MSEK to -1.4 MSEK quarter-on-quarter.

• Net loss for Q2 2025 was -3.7 MSEK (vs. -2.2 MSEK); H1 2025 net loss was -9.8 MSEK (vs. -13.2 MSEK).

• Restructuring, divestments, and layoffs led to a 19.1% decrease in operating expenses sequentially.

• Three major game launches are planned for H2 2025, with combined revenue potential estimated at 14–51 MSEK over 12 months post-launch.

Financial highlights

• Net turnover declined 39% year-over-year to 11.3 MSEK in Q2 2025; H1 2025 turnover was 24.9 MSEK.

• EBIT was -1.4 MSEK in Q2 2025, a deterioration of 3.0 MSEK year-over-year but improved sequentially.

• Profit/loss after financial items was -3.7 MSEK in Q2 2025; H1 2025 net loss was -9.8 MSEK.

• Cash equivalents at period end were 4.0 MSEK, down from 9.0 MSEK year-over-year.

• Personnel expenses and operating costs were significantly reduced due to restructuring and divestitures.

Outlook and guidance

• Board projects revenue from three planned game releases in H2 2025 to range between 14 MSEK and 51 MSEK in the first 12 months post-launch.

• Revenue support of 8.4 MSEK is expected in H2 2025 from new project financing, work-for-hire, and sales bonuses.

• Goals for upcoming quarters include tight cost control, signing new projects, and supporting successful game releases.

• No revenues from Sacred 2 Remaster are expected in 2025 due to external financier return structure.

• Positive outlook for H2 2025, with new deals and milestones expected to add 8.4 MSEK in revenue.