EMB Mission Bound (EMB) Q3 2024 earnings summary

Executive summary

• Achieved record revenue in Q3 2024, up 262% year-over-year, with strong growth in royalties and service fees from new operators, especially in Asia.

• Addressed legacy issues with the Remote Gaming Server, improving platform stability and onboarding efficiency.

• Positive EBITDA for Q3 2024, reflecting improved operational performance and cost control.

• Net cash inflow from operations in Q3 2024, a turnaround from outflow in Q3 2023.

Financial highlights

• Q3 2024 revenue: SEK 26,136k (up 262% vs. Q3 2023); Jan–Sep 2024 revenue: SEK 56,605k (up 204%).

• Q3 2024 EBITDA: SEK 3,412k (vs. SEK -22,608k in Q3 2023); Jan–Sep 2024 EBITDA: SEK -3,060k (vs. SEK -35,645k).

• Q3 2024 operating loss: SEK -2,524k (improved 92%); Q3 2024 net loss: SEK -3,155k (improved 91%).

• Net assets at Sep 30, 2024: SEK 37,013k (up 18% year-over-year); total assets: SEK 81,268k (up 24%).

• Q3 2024 net cash inflow from operations: SEK 4,096k (vs. outflow of SEK 5,708k in Q3 2023).

Outlook and guidance

• Targeting a positive quarterly bottom line by Q4 2024, with continued focus on sustainable growth and prudent financial management.