MAG Interactive
MAG Interactive AB (publ) publishes Interim Report September - November 2023/2024
Summary of the period September 2023 – November 2023:
- Adjusted EBITDA for the period was 19,634 KSEK (3 KSEK) an increase of 19,631 KSEK
- The Group's Net sales for the period was 76,745 KSEK (97,327 KSEK) a decrease of 21%
- The Group's game contribution for the period was 54,864 KSEK (33,136 KSEK), an increase of 66%
- Average revenue per daily active user (ARPDAU) for the period was 6.8 US cents (7.8 US cents), a decrease of 13%
- Earnings per share during the quarter was 0.17 SEK/share (-0.42 SEK/share)
- Adjusted earnings per share during the quarter was 0.15 SEK/share (-0.42 SEK/share)
- The cost of user acquisition for the period was 11,192 KSEK (51,154 KSEK)
- Daily and monthly active users (DAU and MAU) were 1.1 million and 2.9 million respectively during the quarter, a decrease of 9% and 17%
Comment from the CEO in summary
“We generated an EBITDA of 20 MSEK in Q1, a significant improvement compared to the same period last year (+20 MSEK). Since the end of Q3, when User Acquisition (UA) volumes started to decrease, we have increased our cash position by 17 MSEK while operating at EBITDA margins over 25%.
“Fewer investment opportunities for UA during the last couple of quarters have had a negative impact on revenues in Q1, which are down to 77 MSEK compared to 97 MSEK last year. The lower volume of UA has a negative impact on our daily active users (DAU) and average revenue per daily active user (ARPDAU) as fewer highly monetizing players started playing our games during the quarter. On the other hand, we also have a much more profitable situation than last year.
“While quarterly fluctuations can be significant, we continue to build on our long term plan to achieve 500 MSEK of yearly revenues with a 20% EBIT margin. Getting a new game to soft launch in December was a great step in the direction of getting more potential growth drivers long term for our business.
“With the soft launch of our new crossword game Crozzle, we are proud to share the results of our efforts in the new games department, and deliver on our previously communicated ambition to bring a game to soft launch before the end of the calendar year. During Q1 the game developed promisingly, showing strong enough KPIs for us to make the decision to officially move it into soft launch.
“The soft launch period will be spent on continuous improvement of the game, while testing a number of different UA channels and ad creatives to verify that we would be able to scale up UA profitably down the line.
“There is a lot of excitement internally around Crozzle. We will do everything we can to get the game to a state where it can be globally launched, and over time become another evergreen game for MAG.
“Our game teams continue to improve the experience of playing our games, and we see that reflected in both time and money spent by the players. QuizDuel in particular–with the introduction of Question Streak Leagues in Q4 and the 10 year anniversary events in Germany, the game’s largest market–has improved significantly.
“We believe that 2024 will be an exciting year for MAG and hope to be able to share news on several new games as well as boost engagement in our live games. I would like to thank the amazing people at MAG for your hard work and commitment to creating top quality entertainment for millions of people around the world,” says Daniel Hasselberg, CEO at MAG Interactive.
Presentation & Report
On January 17, 2024 at 10:00 CET, CEO Daniel Hasselberg and CFO Magnus Wiklander will present the Interim Report live on Twitch. The presentation will be held in English. Link to the Twitch feed: www.twitch.com/maginteractive. Daniel Hasselberg will also take questions on the social media platform X, formally known as Twitter, during the course of the day, write to @d_hasselberg or @maginteractive. For more information and to read the full report please visit https://www.maginteractive.com/investors/investor-relations/reports/.
This is information that MAG Interactive AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out below, at 08:00 on January 17, 2024.
Datum | 2024-01-17, kl 08:00 |
Källa | Cision |
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