Mavshack (MAV) Q3 2025 earnings summary

Executive summary

• Streamlined operations by divesting non-core IT consulting, focusing on streaming, content, and telecom partnerships.

• Southeast Asia, especially the Philippines, is now the primary growth region, with new content production and partnerships.

• Strengthened financial foundation through multiple share issues, a fully subscribed rights issue, and a new loan facility.

• Priorities include executing in Southeast Asia, relaunching in the Middle East, and disciplined cost management.

Financial highlights

• Q3 2025 net revenue: 1.3 MSEK (4.4 MSEK Q3 2024); nine months: 2.1 MSEK (10.2 MSEK 2024).

• Q3 EBITDA: -0.6 MSEK (-0.7 MSEK); EBIT: -2.07 MSEK (-2.4 MSEK); EPS: -0.007 SEK (-0.069 SEK).

• Jan–Sep EBITDA: -3.9 MSEK (-5 MSEK); EBIT: -8.4 MSEK (-12.3 MSEK); EPS: -0.031 SEK (-0.35 SEK).

• Cash at period end: 0.01 MSEK; equity: -5.96 MSEK; short-term liabilities: 31 MSEK.

• Cash flow from operations Jan–Sep: -23.4 MSEK; financing raised: 18.2 MSEK.

Outlook and guidance

• Focus on converting new partnerships and content in Southeast Asia into recurring revenue.

• Relaunch and scale OFW offering in the Middle East.

• Continued cost and capital discipline, with transparency to shareholders.