Qiiwi Games (QIIWI) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 declined to 3,047 TSEK from 4,899 TSEK year-over-year, mainly due to lower income from older game titles.

• EBITDA improved to -429 TSEK from -1,568 TSEK year-over-year, reflecting a 75% improvement due to cost savings.

• Wordington Solitaire, based on the company’s strongest IP, showed strong early performance and became the top revenue generator in April and early May.

• Strategic focus shifted to optimizing and scaling Wordington Solitaire, with increased marketing investments planned for Q2.

Financial highlights

• EBIT for Q1 2026 was -797 TSEK, an improvement from -2,539 TSEK year-over-year.

• Net result after tax was -755 TSEK, compared to -2,691 TSEK in Q1 2025.

• Earnings per share were -0.08 SEK, up from -0.29 SEK year-over-year.

• Cash and cash equivalents stood at 12.8 MSEK at quarter-end; cash and short-term investments totaled 13.8 MSEK.

• Marketing spend was 0.8 MSEK, down 65% from 2.3 MSEK in Q1 2025.

Outlook and guidance

• Break-even is targeted for Q2 2026, contingent on the scalability of Wordington Solitaire.

• Marketing investments are expected to rise in Q2 as Wordington Solitaire is globally soft-launched.

• Organization streamlined with a lower cost base and clearer framework for 2026 and beyond.

• Continued focus on disciplined marketing and AI-driven operational scalability.