CEO
Third quarter 2023
- Revenue amounted to
SEK 61.3 (71.9) million. - EBITDA amounted to
SEK 2.7 (5.1) million. - Adjusted EBITDA (before items affecting comparability) was
SEK 2.7 (5.1) million. - Operational EBIT amounted to
SEK 0.7 (3.7) million. - Net result after tax was
SEK -19.7 (-23.0) million. - Earnings per share after dilution amounted to
SEK -0.20 (-0.24).
First nine months 2023
- Revenue amounted to
SEK 176.8 (180.9) million. - EBITDA amounted to
SEK 11.0 (6.1) million. - Adjusted EBITDA (before items affecting comparability) was
SEK 11.0 (7.0) million. - Operational EBIT amounted to
SEK 5.5 (1.3) million. - Net result after tax was
SEK -71.6 (-75.5) million. - Earnings per share after dilution amounted to
SEK -0.74 (-0.80).
Operational EBIT is defined as EBIT excluding non-operational amortisation and impairment of intangible assets.
Significant events during the quarter
- Playdigious signs an agreement to port and publish eight game titles to mobile platforms and increases the game release rate.
- Anders Rössel is appointed as new CFO and Head of M&A.
- In-house marketing of MMA Manager 2 is initiated.
- Playdigious announces game title Shapez, which will be released on mobile platforms on
5 December 2023 . Fragbite Group makes the final earnout payment related to the acquisition of Playdigious.
Significant events after the end of the period
- Playdigious release success title Dead Cells on Netflix.
Fragbite Group acquiresFall Damage Studio AB , enters into loan agreements of approximatelySEK 20 million and completes a directed issue of units of approximatelySEK 22 million .Fragbite Group finalises the acquisition of Fall Damage.Fragbite AB signs agreements with additional partners and sponsors of the Swedish Cup.Tele2 signs up for a two-year sponsorship.
CEO
For the
Revenue for the third quarter amounted to
Fall Damage – a transformative acquisition
The acquisition of
Playdigious steps on the gas
We have seen Playdigious perform better than planned on many occasions, and, as a result, decided in
Over 1.5 million Panzerdogs players
The web3 business continued to be characterised by focused work, and it is pleasing to note once again that our two games are at the absolute forefront of web3 gaming. During the quarter, we invested additional resources in marketing to attract traditional players to Panzerdogs and seamlessly integrate and introduce them to web3 components. The number of active Panzerdogs players is now significantly higher than the vast majority of web3 games on the global market, an acknowledgement of both the hard work that goes into it and Lucky Kat’s position as a pioneer. In addition, we have collected valuable data that we are now using to optimise converting these newly recruited players to make in-game purchases. As mentioned in my previous CEO statement, the goal is to do a public token sale and launch $KOBAN on the open market. However, with the provision that we closely monitor market conditions and maintain in close contact with our advisors in order to identify the right timing, which is still the case. We have together with Lucky Kat and Wagmi been monitoring the market for a long time and the team is more than well prepared to roll out the public launch and sale as soon as conditions are optimal. Being at the frontlines can sometimes test one’s patience, but there are times when the most favourable way forward is to keep a cool head. In parallel to monitoring the market for the public launch and sale, we have also investigated options for making another private sale of $KOBAN tokens and I expect to update shareholders on the progress of that venture in the near future.
MMA Manager 2 scaling up
During the third quarter, resources have also been devoted to in-house marketing of MMA Manager 2 in order to attract new players and assess the best marketing channels for the game. We are now facing an important phase, which is to increase marketing in the channels that have shown the best results so far, so that we can scale up and grow user base and revenues more profitably. During the period, there have been updates to the game on two levels – first regular updates with smaller, targeted improvements aimed at lowering the threshold for new players. In addition, we have recently carried out a major update by introducing the “Team vs. Team” feature to increase the in-game purchases and engagement of already loyal players.
As previously announced,
Strong finish to 2023 awaits
With several promising title launches to look forward to in the fourth quarter of the year and the Swedish Cup to be decided, we are heading for a strong finish to 2023. The fact that we have also made a transformative acquisition will enable the Group to show significant growth in both revenue and profitability in the long term.
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