Gaming Corps (GCOR) Q1 2026 earnings summary

Executive summary

• Net revenue for Q1 2026 increased by 41% year-over-year to 15.1 MSEK, but operating losses deepened to -11.7 MSEK compared to the previous quarter.

• Growth was hampered by a challenging February for the industry and an underperforming major game release.

• The company expanded its workforce and continued investing in innovation, launching new game categories and entering new regulated markets.

• Strategic financing agreements were secured, including a 1.5 MEUR convertible loan, pending shareholder approval.

Financial highlights

• Net revenue: 15,061 KSEK for Q1 2026, up from 10,693 KSEK in Q1 2025.

• EBITDA: -10,396 KSEK (Q1 2025: -4,410 KSEK).

• Operating income: -11,701 KSEK (Q1 2025: -5,005 KSEK).

• Net result: -11,075 KSEK (Q1 2025: -10,942 KSEK).

• Cash flow from operations: -12,140 KSEK; cash at period end: 2,024 KSEK.

Outlook and guidance

• Management expects the impact of underperforming releases to diminish as the company grows.

• Focus remains on leveraging the expanded organization and distribution network for commercial growth.

• No detailed revenue forecast provided due to ongoing product launches and operator integrations.