Qiiwi Games (QIIWI) Q3 2026 earnings summary

Executive summary

• Q3 revenue was SEK 9.411m and EBITDA SEK 0.907m, with positive EBIT of SEK 0.444m; growth was driven mainly by Wordington Solitaire.

• Higher player activity and ARPDAU supported growth, while marketing spend rose as user acquisition was scaled.

Financial highlights

• Q3 revenue SEK 9.411m vs SEK 3.490m YoY; EBITDA SEK 0.907m vs -SEK 0.838m; EBIT SEK 0.444m vs -SEK 1.613m.

• Q3 net income SEK 0.445m vs net loss SEK 1.576m; EPS SEK 0.05 vs -SEK 0.17.

• 9M revenue SEK 18.943m vs SEK 11.655m; EBITDA SEK 0.784m vs -SEK 4.167m; EBIT -SEK 0.445m vs -SEK 6.858m.

• 9M net loss SEK 0.486m vs SEK 7.000m; EPS -SEK 0.05 vs -SEK 0.76.

• Q3 operating cash flow was SEK 2.211m vs an outflow of SEK 1.318m YoY.

Outlook and guidance

• Plan A Games partnership is in a three-month evaluation phase; meeting KPIs could lead to Phase 2 and a credit facility of up to $10m for higher marketing scale.

• Q4 plans include adding features and evaluating whether projects advance; Tiny Hunter’s initial market tests were positive.

• UA investment pace will be adjusted based on actual returns from newly acquired player cohorts.

• Q4 testing will assess Backpacker Go! onboarding changes and guide future development.