Gold Town Games (GTG) Q4 2024 earnings summary

Executive summary

• Net sales for Q4 2024 were 2.75 MSEK, down 24% year-over-year; full-year sales reached 11.86 MSEK, a 23% decrease from 2023.

• Operating loss for Q4 improved to -0.86 MSEK from -22.81 MSEK; full-year operating loss was -5.53 MSEK, a significant improvement from -34.07 MSEK in 2023.

• Cost savings and efficiency measures drove improved results, with 2023 impacted by large write-downs.

• Focus in 2024 was on developing Pocket Hockey, with global launch set for March 2025.

• Company plans a capital injection to reduce debt and fund marketing for new titles.

Financial highlights

• Q4 net sales: 2.75 MSEK (3.63 MSEK Q4 2023); full-year: 11.86 MSEK (15.49 MSEK 2023).

• Q4 operating result: -0.86 MSEK (-22.81 MSEK Q4 2023); full-year: -5.53 MSEK (-34.07 MSEK 2023).

• Q4 net result: -1.01 MSEK (-28.53 MSEK Q4 2023); full-year: -6.23 MSEK (-40.38 MSEK 2023).

• Cash at period end: 0.76 MSEK (4.99 MSEK 2023); equity: 10.7 MSEK (16.9 MSEK 2023).

• Q4 EBITDA: 0.39 MSEK (-0.53 MSEK Q4 2023); full-year EBITDA: 0.46 MSEK (-1.49 MSEK 2023).

Outlook and guidance

• Pocket Hockey global launch scheduled for March 2025, expected to broaden user base and drive growth.

• Company aims to restore and grow revenue in 2025 through increased marketing and revitalization of World Hockey Manager.

• Management expects to reach profitability and positive cash flow in 2025, contingent on successful product launches and capital raise.