Safe Lane Gaming (SLG) Q2 2024 earnings summary

Executive summary

• Q2 2024 saw a 25% year-over-year revenue decline to 6.2 MSEK, mainly due to lower income from existing games and no new releases.

• EBITDA dropped 69% to 0.6 MSEK, reflecting weaker performance in core titles, especially Battle Camp.

• Strategic focus remains on game development, cost optimization, and capital structure improvement.

• New board elected in June with a mandate to strengthen long-term financial sustainability.

Financial highlights

• Net sales: 6.2 MSEK in Q2 2024 (8.2 MSEK Q2 2023); H1 2024: 13.2 MSEK (16.5 MSEK H1 2023).

• EBITDA: 0.6 MSEK in Q2 2024 (2.0 MSEK Q2 2023); H1 2024: 1.7 MSEK (3.5 MSEK H1 2023).

• Result after financial items: -12.6 MSEK in Q2 2024 (-11.9 MSEK Q2 2023); H1 2024: -24.6 MSEK (-24.3 MSEK H1 2023).

• EPS: -1.51 SEK in Q2 2024 (0.00 SEK Q2 2023); H1 2024: -2.95 SEK (0.00 SEK H1 2023).

• Cash flow from operations: 451 KSEK in Q2 2024 (-4.0 MSEK Q2 2023); cash at period end: 1.2 MSEK.

Outlook and guidance

• Focus on improving Battle Camp performance and launching new game prototypes, including Golf Fight.

• Continued cost optimization, especially in technology for Battle Camp, with expected results by end of Q3.

• Management sees opportunities to hire new talent as industry conditions shift.