Gaming Corps (GCOR) Q4 2024 earnings summary

Executive summary

• Achieved record revenue for the third consecutive quarter, with Q4 net sales of 9.74 MSEK, up from 6.97 MSEK year-over-year.

• Strategic focus on long-term profitability, including a temporary reduction in new game launches to strengthen future foundations.

• Secured significant financing through a rights issue and a directed share issue totaling nearly 20 MSEK, resulting in a new major shareholder.

• Expanded market presence, now live on over 1,570 online casinos across 50+ markets.

Financial highlights

• Q4 2024 net sales: 9.74 MSEK (up from 6.97 MSEK in Q4 2023).

• Q4 operating loss: -9.81 MSEK (vs. -5.67 MSEK in Q4 2023); net loss after financial items: -8.64 MSEK.

• EBITDA for Q4: -9.29 MSEK (vs. -5.22 MSEK in Q4 2023).

• Full-year 2024 net sales: 35.4 MSEK (up from 31.1 MSEK in 2023); full-year net loss: -23.7 MSEK.

• Equity ratio at period end: 39.9% (up from 9.6% year-over-year).

Outlook and guidance

• Plans to release over 30 new games in 2025, including new generations of existing engines and a unique hybrid game engine.

• Strengthened commercial team to drive revenue growth and progress toward profitability.

• Ongoing focus on expanding into new regulated markets and leveraging the RGS business area for additional growth.