Gaming Corps (GCOR) Q3 2025 earnings summary

Executive summary

• Revenue for Q3 2025 increased by 29% year-over-year to SEK 12.7 million, with total income up 44% to SEK 14.1 million.

• The company continues to expand, now live on over 2,000 online casinos across 50+ markets.

• Recruitment intensified to support higher game quality and release frequency, impacting costs.

• A new Chief Commercial Officer was hired post-period to drive the next growth phase.

Financial highlights

• Q3 2025 net sales: SEK 12.7 million (Q3 2024: SEK 9.8 million); total income: SEK 14.1 million (Q3 2024: SEK 9.8 million).

• EBITDA: SEK -7.6 million (Q3 2024: SEK -2.3 million); EBIT: SEK -8.7 million (Q3 2024: SEK -3.0 million).

• Net result: SEK -9.1 million (Q3 2024: SEK -3.8 million).

• Equity ratio at period end: 29%.

• Cash and cash equivalents at period end: SEK 2.5 million.

Outlook and guidance

• The company maintains its target of achieving profitability during 2025.

• Plans to reach two game releases per month for DEGEN Studios by early 2026.

• Anticipates strong performance in Ontario and near-complete distribution in the UK by Q1 2026.