Jumpgate (GATE) Q3 2025 earnings summary

Executive summary

• Net turnover in Q3 2025 was 5.5 MSEK, down 71% year-over-year, with Jan–Sep 2025 turnover at 30,389 TSEK, reflecting project completions and lack of immediate replacements in key studios.

• EBIT for Q3 2025 was -4.3 MSEK, and for Jan–Sep 2025 was -11,342 TSEK, both deteriorating year-over-year.

• Cost base, especially personnel, was significantly reduced following group downsizing and divestment, but did not fully offset revenue decline.

• Major game launches included Ed & Edda: GRAND PRIX and Sacred 2 Remaster; Star Trek: Voyager - Across the Unknown demo received strong reception.

• Rights issue and second loan tranche improved cash flow and reduced interest expenses.

Financial highlights

• Q3 2025 net turnover: 5.5 MSEK, down 71% from Q3 2024; Jan–Sep 2025 turnover: 30,389 TSEK (vs. 53,966 TSEK year-over-year).

• EBIT for Q3 2025: -4.3 MSEK; Jan–Sep 2025: -11,342 TSEK (vs. -3,691 TSEK year-over-year).

• Profit/loss after financial items for Q3 2025: -5.4 MSEK; Jan–Sep 2025: -15,009 TSEK.

• Cash flow improved by 3.3 MSEK in Q3 2025; cash equivalents at period end were 5,404 TSEK.

• Equity capital as of Sep 30, 2025: 58.8 MSEK; equity ratio: 60.66%.

Outlook and guidance

• Revenue growth is critical for a return to profitability; focus remains on securing new work-for-hire deals and external financing.

• Goals include signing two new deals by year-end and a successful launch of Star Trek: Voyager - Across the Unknown.

• Combined revenues from recent and upcoming game launches projected at SEK 14–51 million in the 12 months post-release.

• Focus on increasing positive review scores for Sacred 2 Remaster to support sales.

• Star Trek: Voyager - Across the Unknown is expected to be a key revenue driver; launch date to be set soon.