Kinda Brave (BRAVE) Q4 2024 earnings summary

Executive summary

• Achieved several strategic milestones in 2024, including IPO on Nasdaq First North and key publishing agreements for flagship titles HELA, Go Fight Fantastic, and Distant Bloom on multiple platforms.

• Focused on long-term financing, securing new loans, a revolving credit facility, and a directed share issue at a premium to strengthen financial flexibility.

• Operational focus remains on HELA development, with all milestones approved and strong community engagement (35M+ organic views).

Financial highlights

• Q4 net revenue was 0.0 MSEK (0.0); full-year net revenue reached 1.6 MSEK (0.0), mainly from Distant Bloom and Go Fight Fantastic.

• Q4 EBITDA was -7.7 MSEK (-8.5); full-year EBITDA was -20.8 MSEK (-15.8).

• Q4 net result was -15.0 MSEK (-9.0), including 6.5 MSEK in extraordinary, non-cash costs; full-year net result was -30.6 MSEK (-16.9).

• Earnings per share for Q4 was -0.6 SEK (-3.0); for the year, -1.9 SEK (-4.5).

• Cash and cash equivalents at period end were 1.0 MSEK (0.3).

Outlook and guidance

• 2025 will focus on HELA's continued development and commercial launch, with major industry events planned for increased visibility.

• Lower personnel costs expected from Q1 2025 due to completed studio efficiency measures.

• Revenue from HELA milestone payments will be recognized upon game launch.