Kinda Brave (BRAVE) Q1 2026 earnings summary

Executive summary

• Focused on finalizing HELA, the flagship game, with high quality ahead of launch; development pace and cost discipline remain priorities.

• International interest in HELA is growing, with over 900,000 wishlists and 126 million organic views across platforms.

• Strengthened capital structure through investment agreements and completed share issues.

• Visibility increased via participation in major industry events and awards, including Gamescom and IGN Fan Fest.

Financial highlights

• Net revenue for Q1 2026 was SEK 43,000, nearly unchanged from SEK 49,000 in Q1 2025.

• EBITDA for Q1 2026 was SEK -3.9 million, a slight improvement from SEK -4.6 million in Q1 2025.

• Net loss for Q1 2026 was SEK -5.1 million, compared to SEK -5.4 million in Q1 2025.

• Equity at period end was SEK 12.6 million, down from SEK 20.8 million a year earlier.

• Cash and cash equivalents at period end were SEK 5.5 million, up from SEK 1.3 million in Q1 2025.

Outlook and guidance

• Expectation to deliver project milestones and receive publisher payments in Q2 2026.

• Focus remains on quality delivery of HELA, cost control, and optimizing financial structure ahead of launch.

• Anticipated seasonality effects are negligible in the short term due to early commercial stage.