Star Vault (STVA) Q2 2024 earnings summary

Executive summary

• Net sales for H1 2024 increased to SEK 4.74 million from SEK 3.35 million year-over-year, with Q2 sales at SEK 2.99 million, up from SEK 1.57 million.

• Loss after financial items narrowed to SEK -2.0 million for H1 2024 from SEK -4.4 million year-over-year; Q2 loss was SEK -0.83 million, improved from SEK -2.28 million.

• Positive cash flow from operations and a strengthened market position for Mortal Online 2, with growing subscriber and active player numbers.

• Major expansion and monthly updates to Mortal Online 2 have driven player engagement and positive feedback.

Financial highlights

• Gross profit for H1 2024 was SEK 4.67 million, up from SEK 3.19 million year-over-year.

• Operating loss for H1 2024 was SEK -2.0 million, improved from SEK -4.4 million year-over-year.

• Cash and cash equivalents at June 30, 2024, were SEK 3.71 million, up from SEK 3.49 million a year earlier.

• Equity at period end was SEK 14.6 million, compared to SEK 16.0 million last year.

• Cash flow for the period was SEK 2.33 million, compared to SEK -3.20 million year-over-year.

Outlook and guidance

• Management expects current cash and projected market development to cover liquidity needs for the next twelve months.

• Planned marketing activities and ongoing game updates are anticipated to further increase the player base.