Fragbite Group (FRAG) Q2 2025 earnings summary

Executive summary

• Revenue for Q2 2025 was SEK 43.7 million, down SEK 6.1 million year-over-year, mainly due to fewer game releases and lower Esports and Gaming revenue.

• EBITDA improved to SEK 1.4 million from SEK -6.6 million, reflecting cost reductions.

• The sale of subsidiaries Lucky Kat and Wagmi was completed, triggering a strategic review and significant goodwill impairment.

• Bitcoin Treasury business area was established to invest surplus liquidity in Bitcoin, aiming for 100 bitcoin by end of 2025.

Financial highlights

• Q2 revenue: SEK 43.7 million (Q2 2024: SEK 49.8 million); H1 revenue: SEK 86.0 million (H1 2024: SEK 102.3 million).

• Q2 EBITDA: SEK 1.4 million (Q2 2024: SEK -6.6 million); H1 EBITDA: SEK 2.1 million (H1 2024: SEK -1.5 million).

• Q2 EBIT: SEK -57.3 million (Q2 2024: SEK -41.6 million), including SEK 44.0 million goodwill impairment.

• Q2 net loss after tax: SEK -46.5 million (Q2 2024: SEK -2.1 million); H1 net loss: SEK -64.0 million (H1 2024: SEK -62.6 million).

• Diluted EPS for Q2: SEK -6.27 (Q2 2024: SEK -9.83); H1: SEK -8.60 (H1 2024: SEK -286.56).

• Cash flow from operating activities for Q2: SEK -1.2 million (Q2 2024: SEK -6.0 million).

Outlook and guidance

• Playdigious expects continued strong performance from Subnautica and upcoming releases, including Chants of Sennaar and Don't Starve Together.

• FunRock Prey targets full-year 2025 EBITDA of SEK 4 million, up from SEK 0.6 million in 2024.

• The company aims to own 100 bitcoin by end of 2025, financed through surplus liquidity and loans.

• Strategic review ongoing, with updated financial targets to be announced post-review.