Beyond Frames (BEYOND) Q3 2024 earnings summary

Executive summary

• Q3 2024 sales declined 12% year-over-year to 31,781 KSEK, but year-to-date sales rose 37% to 132,570 KSEK, surpassing full-year 2023 revenue.

• EBITDA for Q3 was 1,486 KSEK, down from 2,196 KSEK in Q3 2023; profit after financial items was -6,825 KSEK.

• Cash and cash equivalents fell to 8,952 KSEK at quarter-end, compared to 34,555 KSEK a year earlier and 14,319 KSEK at the end of Q2 2024.

• Major product launches included Escaping Wonderland, which received strong reviews and an NYX Games award.

• Ghosts of Tabor surpassed $20M in lifetime revenue and reached 835,000 registered players.

Financial highlights

• Q3 2024 sales: 31,781 KSEK (down 12% year-over-year); 9M 2024 sales: 132,570 KSEK (up 37%).

• Q3 EBITDA: 1,486 KSEK (Q3 2023: 2,196 KSEK); 9M EBITDA: 8,945 KSEK (9M 2023: 6,307 KSEK).

• Q3 profit after financial items: -6,825 KSEK (Q3 2023: -1,839 KSEK); 9M: -14,991 KSEK (9M 2023: -3,997 KSEK).

• Q3 EBITDA per share: 0.09 SEK; profit per share after financial items: -0.39 SEK.

• Equity attributable to shareholders: 67,821 KSEK (3.91 SEK/share), down from 85,352 KSEK (4.97 SEK/share) a year ago.

Outlook and guidance

• Q4 expected to benefit from holiday sales, typically the strongest quarter for revenue.

• Four major titles in development, with releases scheduled between Q4 2024 and 2026.

• Anticipates improved platform discoverability and market expansion following Meta Quest 3S launch.

• Ongoing cost discipline and operational streamlining to support long-term growth and profitability.