Beyond Frames (BEYOND) Q3 2025 earnings summary

Executive summary

• Q3 2025 was a maintenance and development quarter with steady recurring revenues from the game catalog and no major milestones, aligning with management expectations.

• Strategic groundwork in partnerships, game development, and marketing is building momentum for a strong Q4 and future growth, especially in XR and smart glasses.

Financial highlights

• Q3 2025 sales were 27,971 kSEK, down from 31,781 kSEK in Q3 2024; EBITDA was 76 kSEK, down from 1,486 kSEK.

• Profit after financial items for Q3 was -6,070 kSEK (Q3 2024: -6,825 kSEK); EBITDA per share was 0.004 SEK.

• For Jan–Sep 2025, sales totaled 101,307 kSEK (down from 132,570 kSEK), with EBITDA of 9,157 kSEK, up 2.4% year-over-year.

• Cash and cash equivalents at quarter-end were 12,672 kSEK, up from 8,952 kSEK a year earlier and 8,608 kSEK at the end of Q2 2025.

Outlook and guidance

• Q4 2025 is expected to be stronger, with anticipated revenue recognition from GORN 2 after recoupment and additional project funding for TMNT VR.

• Strategic focus on XR and smart glasses, with ongoing discussions with major IP holders for future projects.