FSport (FSPORT) Q2 2025 earnings summary

Executive summary

• Q2 2025 marked by efficiency measures, strengthened financials via asset sales, and the launch of Tippa.se, replacing 1x2.se as the main betting portal.

• Sale of 1x2.se and proprietary technology provided long-term liquidity and strategic focus on new growth areas.

• Entry into the US skill gaming market through a stake in Aftermath Interactive, targeting a $15 billion market.

Financial highlights

• Net revenue for Q2 2025 was 351 TSEK, down from 1,052 TSEK year-over-year; H1 2025 net revenue was 696 TSEK, down from 1,878 TSEK.

• Q2 EBITDA reached 3,347 TSEK, up from -397 TSEK; H1 EBITDA was 2,500 TSEK, up from -1,094 TSEK, mainly due to asset divestments.

• Net income after tax for Q2 was 2,631 TSEK (vs. -1,260 TSEK); H1 net income was 956 TSEK (vs. -2,819 TSEK).

• Cash flow at Q2 end increased to 6,984 TSEK (vs. -2,088 TSEK), with cash and equivalents at 8,569 TSEK (vs. 569 TSEK).

Outlook and guidance

• Increased budgets, new hires, and improved planning enabled by stronger liquidity.

• Focus on leveraging AI and SEO expertise to address evolving digital marketing challenges.

• Strategic emphasis on US market expansion and product development for Tippa.se.