Kinda Brave (BRAVE) Q2 2026 earnings summary

Executive summary

• Focus remained on finalizing the flagship game HELA for a planned Q4 2026 launch, with intensified development, QA, and commercial preparations.

• HELA surpassed one million wishlists and 140 million organic social media views, indicating strong global interest.

• The company strengthened its financial position through a directed share issue and exercised warrants, raising approximately 19.8 MSEK before costs.

• HELA will be available on a major subscription platform and as a physical special edition in select regions, broadening its commercial reach.

Financial highlights

• Q2 2026 net revenue was 28 TSEK, down from 221 TSEK in Q2 2025; H1 2026 net revenue was 71 TSEK, down from 269 TSEK year-over-year.

• Q2 2026 EBITDA improved to -2.9 MSEK from -3.8 MSEK; H1 2026 EBITDA was -7.6 MSEK, slightly better than -7.7 MSEK in H1 2025.

• Q2 2026 net loss was -3.4 MSEK, improved from -4.8 MSEK; H1 2026 net loss was -8.5 MSEK, improved from -10.2 MSEK year-over-year.

• Cash and cash equivalents at period end were 5.1 MSEK, with subsequent events increasing liquidity to approximately 17 MSEK.

Outlook and guidance

• HELA is scheduled for global launch in Q4 2026, with ongoing preparations to maximize commercial success.

• The company expects continued investment in HELA and aims to convert strong pre-launch interest into sales.

• Sizable sales and results are anticipated to be concentrated in Q4, in line with industry seasonality.