Kvix (KVIX) Q4 2024 earnings summary

Executive summary

• Transitioned focus to mobile gaming, with Modern Command Mayhem showing strong retention and conversion metrics; positive trends in user acquisition efficiency observed in Q4 and January 2025.

• Revenue growth driven by mobile gaming, while cost reductions stem from lower personnel expenses following restructuring.

Financial highlights

• Q4 2024 net revenue rose to 987 KSEK from 456 KSEK year-over-year; full-year revenue increased to 1,969 KSEK from 1,268 KSEK.

• Q4 operating loss improved to -2,759 KSEK from -9,298 KSEK; full-year operating loss narrowed to -4,073 KSEK from -15,362 KSEK.

• Q4 result before tax was -2,607 KSEK (vs. -9,027 KSEK); full-year result before tax was -3,927 KSEK (vs. -15,364 KSEK).

• Cash flow from operations for the year was -2,460 KSEK, an improvement from -5,751 KSEK in 2023.

• No significant events occurred during or after the period.

Outlook and guidance

• Management expects to optimize both the game and marketing in 2025 to scale user acquisition and improve margins.

• Focus remains on extending game content and optimizing marketing channels, with positive early results from iOS launch.