Jumpgate (GATE) Q4 2024 earnings summary

Executive summary

• Net turnover for 2024 increased by over 30% year-over-year to 68.1 MSEK, with significant reduction in losses and improved EBIT to -7.9 MSEK from -29.9 MSEK in 2023.

• Fourth quarter saw lower turnover (14.1 MSEK vs. 19.7 MSEK prior year) but improved EBIT (-4.2 MSEK vs. -15.9 MSEK) and reduced net loss.

• Strategic cost savings included divestment of Tableflip Entertainment and a 50% reduction in staff.

• Signed partner agreements for new projects, unlocking potential public funding and positioning for profitability in 2025.

Financial highlights

• Net turnover for 2024: 68,100 TSEK (2023: 52,075 TSEK); Q4 turnover: 14,135 TSEK (Q4 2023: 19,685 TSEK).

• EBIT for 2024: -7,879 TSEK (2023: -29,869 TSEK); Q4 EBIT: -4,188 TSEK (Q4 2023: -15,904 TSEK).

• Net loss after financial items for 2024: -16,949 TSEK (2023: -34,079 TSEK); Q4 net loss: -5,604 TSEK (Q4 2023: -14,509 TSEK).

• Result per share for 2024: -1.523 SEK (2023: -0.073 SEK); Q4: -0.516 SEK (Q4 2023: -0.032 SEK).

• Cash equivalents at year-end: 2,866 TSEK (2023: 7,913 TSEK).

Outlook and guidance

• Three major game releases planned for 2025: Star Trek-based Galactic Journey, Ed & Edda: GRAND PRIX - Racing Champions, and a THQ Nordic-published title.

• Applications for German public funding submitted; matching partner financing of 16.6 MSEK secured, enabling up to 30 MSEK in total project financing if approved.

• Focus on profitability through cost reductions and successful game launches.