5th Planet Games (5PG) Q1 2025 earnings summary

Executive summary

• Q1 2025 marked a transitional period with significant investments in new games based on major IPs, with key releases expected in 2026.

• Revenue and profitability declined year-over-year due to a backloaded release schedule and ongoing development investments.

• Physical and digital releases are concentrated in H2 2025, with high expectations for the title Goodnight Universe in Q4.

• The company maintains a strong solvency ratio and positive operating cash flow despite lower cash reserves.

• Full-year guidance remains unchanged: ~70% revenue growth and EBITDA between DKK 0.5m–2m.

Financial highlights

• Q1 2025 revenue was DKK 0.5M, down DKK 2.4M year-over-year.

• Gross profit for Q1 2025 was DKK 0.4M, compared to DKK 2.8M in Q1 2024.

• EBITDA loss of DKK 1.6M in Q1 2025 versus a gain of DKK 1.3M in Q1 2024.

• Net loss for Q1 2025 was DKK 2.3M, compared to a net profit of DKK 0.3M in Q1 2024.

• Cash position at March 31, 2025 was DKK 9.6M, down from DKK 44.6M a year earlier, mainly due to project investments.

Outlook and guidance

• Full-year 2025 guidance unchanged: ~70% revenue growth and EBITDA between DKK 0.5m–2m.

• Major new game releases scheduled for H2 2025 and 2026, with Goodnight Universe set for Q4 2025.

• Physical distribution reach expanded to Central and Eastern Europe.

• Back catalogue expected to perform to budget.