Gaming Corps (GCOR) Q2 2025 earnings summary

Executive summary

• Achieved over 20% year-over-year net sales growth in Q2 2025, with net sales of 10.2 MSEK and total revenues of 12.5 MSEK for the quarter.

• Operating result was -9.5 MSEK, with a net loss per share of -0.05 SEK, an improvement from -0.12 SEK in Q2 2024.

• Expanded game release frequency, doubling the number of new games compared to Q1, and launched a unique strategic agreement with major shareholder Denwena Limited.

• Organization grew to 66 employees, with significant investments in game development and commercial teams.

Financial highlights

• Net sales increased 20.3% year-over-year to 10.2 MSEK; total revenues reached 12.5 MSEK.

• Operating result (EBIT) was -9.5 MSEK, and net result after financial items was -7.9 MSEK, both slightly improved from Q2 2024.

• EBITDA for Q2 2025 was -7.8 MSEK.

• Equity ratio at period end was 49.3%.

• Cash and cash equivalents at period end were 6.9 MSEK.

Outlook and guidance

• Strategic focus on increasing game production, with a new roadmap for both core and RGS (Remote Game Server) business lines.

• Ambition to become a leading global game studio, supported by the Denwena Limited partnership.

• No detailed revenue forecast provided, but management expects increased revenues as production scales.