Qiiwi Games (QIIWI) Q2 2025 earnings summary

Executive summary

• Revenue for Q2 2025 was 3,266 TSEK, down from 5,413 TSEK year-over-year, mainly due to lower performance from key game titles.

• EBITDA improved to -1,761 TSEK from -1,976 TSEK year-over-year, with further improvement expected as cost savings take effect.

• Strategic reorganization included a 50% staff reduction, closure of the Cyprus subsidiary, and full integration of AI into operations.

• Positive month-over-month revenue trends within the quarter, led by Backpacker® Go! and Wordington.

• CFO resignation and increased ownership by the chairman were announced after the period.

Financial highlights

• Revenue: 3,266 TSEK (down from 5,413 TSEK year-over-year).

• EBITDA: -1,761 TSEK (improved from -1,976 TSEK year-over-year).

• EBIT: -2,706 TSEK (improved from -2,966 TSEK year-over-year).

• Net result after tax: -2,733 TSEK (improved from -2,908 TSEK year-over-year).

• Cash and short-term investments at period end totaled 14,773 TSEK.

Outlook and guidance

• Further EBITDA improvement anticipated in coming quarters as cost-saving measures take full effect, targeting break-even on a monthly basis by year-end.

• Focus remains on achieving positive cash flow and leveraging AI for operational scaling.