Safe Lane Gaming (SLG) Q3 2024 earnings summary

Executive summary

• Net revenue for Q3 2024 was 5.3 MSEK, down 29% year-over-year due to lower income from existing games and no new releases.

• EBITDA increased 13% to 0.44 MSEK, mainly due to a one-time tax item in the prior year.

• The sale of Raketspel AB for 79 MSEK post-quarter is expected to reduce long-term debt and strengthen the balance sheet.

• Q3 marked the weakest quarter of the year, but management expects higher revenue in Q4.

Financial highlights

• Q3 2024 net revenue: 5.3 MSEK (7.5 MSEK Q3 2023); Q1–Q3 2024: 18.5 MSEK (24.0 MSEK Q1–Q3 2023).

• Q3 2024 EBITDA: 0.44 MSEK (0.39 MSEK Q3 2023); Q1–Q3 2024: 2.1 MSEK (3.8 MSEK Q1–Q3 2023).

• Result after financial items Q3 2024: -12.2 MSEK (-13.6 MSEK Q3 2023); Q1–Q3 2024: -36.8 MSEK (-37.8 MSEK Q1–Q3 2023).

• Q3 2024 EPS: -1.47 SEK (-1.86 SEK Q3 2023); Q1–Q3 2024: -4.42 SEK (-5.19 SEK Q1–Q3 2023).

• Cash and cash equivalents at period end: 1.2 MSEK (0.5 MSEK Q3 2023).

Outlook and guidance

• Management anticipates improved revenue in Q4, following new plans for live games and positive early results from player engagement initiatives.

• The company is entering a more expansive phase, leveraging proceeds from the Raketspel sale for new investments.