Gaming Corps (GCOR) Q2 2024 earnings summary

Executive summary

• Achieved record performance in Q2 2024 with highest player numbers, bet values, and casino reach to date.

• Launched exclusive game 'Snoops High Roller's' with strong brand awareness and positive industry feedback.

• Expanded distribution, now live on over 1,360 online casinos across 50+ markets.

• Focus shifting from distribution build-up to increased sales and revenue generation.

Financial highlights

• Net revenue for Q2 2024: SEK 8.5 million, up from SEK 8.1 million in Q2 2023.

• Operating loss (EBIT): SEK -6.4 million for Q2 2024, compared to SEK -6.2 million in Q2 2023.

• Net loss after financial items: SEK -8.1 million for Q2 2024, versus SEK -6.7 million in Q2 2023.

• Earnings per share: SEK -0.12 for Q2 2024, compared to SEK -0.11 in Q2 2023.

• Cash and cash equivalents at period end: SEK 0.26 million.

Outlook and guidance

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

• Board assesses sufficient liquidity for continued operations following new loans and expected cash flow.