M.O.B.A. Network (MOBA) Q3 2024 earnings summary

Executive summary

• Achieved record-breaking Q3 with 12% revenue growth and 35% EBITDA increase year-over-year, marking the best third quarter in company history.

• Strong operational performance across all asset categories, with the network reaching over 220 million gamers monthly and diversified products including web brands, in-game apps, and a large YouTube creator network.

• Strong cash flow enabled significant bond repurchases, reducing net debt and strengthening the balance sheet.

• Launched Valofessor, expanding into the first-person shooter market and diversifying product offerings.

• Porofessor app surpassed 13.5 million installs, highlighting continued user growth and engagement.

Financial highlights

• Q3 2024 revenue: SEK 80.1 million (up 12% year-over-year); EBITDA: SEK 15.4 million (up 35%); EBIT: SEK 9.7 million (up 400%).

• Cash flow from operating activities before working capital changes: SEK 8 million in Q3; SEK 17 million for nine months.

• Nine-month revenue: SEK 228 million (up 19%); EBITDA: SEK 41 million (up 165%); EBIT: SEK 24 million (up 626%).

• LTM revenue: SEK 310 million (up 14%); LTM EBITDA: SEK 59 million (up 154%).

• Cash and cash equivalents at quarter-end: SEK 23 million; equity/assets ratio: 38%.

Outlook and guidance

• Q4 start is above expectations, with continued focus on expanding in-game app offerings, launching new community-based websites, and developing recurring revenue streams.

• Net debt reduction remains a priority, but strategic investments and acquisitions are considered if balance sheet impact is low.

• Q4 expected to benefit from increased ad demand due to U.S. elections and holiday spending.

• Major focus for 2025 on organic investments, strategic acquisitions, and deepening user engagement.