Digital Bros (DIB) Q3 24/25 earnings summary

Executive summary

• Nine-month revenue declined 12.4% year-over-year to €66.4M, mainly due to fewer new game launches and a strategic focus on higher-margin IPs.

• Net loss improved to €2.1M from €6.7M in the prior year, with EBIT turning positive at €2.3M versus a €3.1M loss; Q3 net profit was €1.4M.

• EBITDA for the nine months rose 1.7% to €20.6M; margin stable at 31%.

• Premium Games, led by Assetto Corsa EVO, showed resilience, while Free to Play and other segments saw sharper declines.

• Net financial debt decreased to €21.4M, with further improvement expected in the next fiscal year.

Financial highlights

• Revenue: €66.4M, down 12.4% year-over-year; Premium Games contributed 82% of total.

• EBITDA: €20.6M, up 1.7% year-over-year; margin stable at 31%.

• EBIT: €2.3M, up from a €3.1M loss; net loss narrowed to €2.1M.

• Gross margin: 66.1%, nearly unchanged.

• EPS: -€0.16, improved from -€0.20.

Outlook and guidance

• Full-year revenue expected to decline versus prior year, but EBIT margin to remain stable.

• Net financial debt projected to improve in the next fiscal year, driven by new releases Blades of Fire and Wuchang: Fallen Feathers.

• Assetto Corsa EVO and Blades of Fire launches to support future performance; Wuchang: Fallen Feathers presales started in April and will be available on Microsoft Game Pass.