Scout Gaming Group (SCOUT) Q2 2024 earnings summary

Executive summary

• Q2 2024 revenues increased 16% year-over-year to SEK 11.1m, driven by major football tournaments and improved user retention.

• EBITDA loss narrowed to SEK -0.9m from SEK -6.0m, and net result improved to SEK -1.9m from SEK -37.3m, reflecting cost reductions and absence of prior year non-recurring losses.

• Company is nearing profitability, supported by extended and new partner agreements and product improvements.

Financial highlights

• Q2 total revenues: SEK 11.1m (SEK 9.5m), up 16%; H1 total revenues: SEK 19.1m (SEK 16.0m), up 19%.

• B2B revenues Q2: SEK 8.3m (SEK 8.2m), up 1% (excluding prior year non-recurring, underlying growth 30%).

• B2C revenues Q2: SEK 1.4m (SEK 1.3m), up 10%; H1 B2C: SEK 2.9m (SEK 3.4m), down 14%.

• EBITDA Q2: SEK -0.9m (SEK -6.0m); H1: SEK -3.7m (SEK -15.9m).

• Net result Q2: SEK -1.9m (SEK -37.3m); H1: SEK -4.8m (SEK -30.3m).

• Earnings per share Q2: SEK -0.01 (SEK -0.17); H1: SEK -0.02 (SEK -0.13).

Outlook and guidance

• Management expects continued growth, supported by ongoing partner agreement extensions and product enhancements.

• Positive impact anticipated from football events and marketing efforts ahead of Premier League season.