Jumpgate (GATE) Q4 2025 earnings summary

Executive summary

• Net turnover for 2025 was 42,426 TSEK, down 38% year-over-year; Q4 turnover was 12,037 TSEK, a 15% decrease, mainly due to not replacing Dune: Awakening at Nukklear.

• EBIT for 2025 was -17,033 TSEK (vs. -7,879 TSEK); Q4 EBIT was -5,693 TSEK (vs. -4,188 TSEK), reflecting a deterioration year-over-year.

• Major game launches included Sacred 2 Remaster and Star Trek: Voyager – Across the Unknown, the latter selling over 100,000 units in four days after its February 2026 release.

• Significant new project signed: 19 MSEK mobile game development contract, pending German federal funding.

• Cost reductions, especially in personnel expenses, contributed to improved cash flow despite lower revenues.

Financial highlights

• Net loss for 2025 was -22,065 TSEK (vs. -17,020 TSEK); Q4 net loss was -7,018 TSEK (vs. -6,036 TSEK).

• Cash flow improved by 4.7 MSEK in Q4 2025 compared to Q4 2024, mainly from current operations.

• Cash equivalents at year-end were 3,685 TSEK (vs. 2,866 TSEK prior year).

• Equity capital at year-end was 49,771 TSEK, with an equity ratio of 51.49% (down from 70.11%).

• Interest expenses for the full year were 4.3 MSEK (47%) lower than in 2024.

Outlook and guidance

• Focus for 2026 is on de-leveraging, signing new projects, and strategic portfolio development.

• Expectation of profitability driven by Star Trek: Voyager – Across the Unknown and new projects.

• Positive outlook based on validated business model and new deals in the pipeline.

• Anticipates increased business development activity and inbound proposals.