MindArk

Comment from CEO Leif Evander Andersson:
"During the second quarter, MindArk delivered a clear recovery compared with Q1 2025. Our revenue increased by approximately 33% and operating profit (EBIT) returned to positive territory, driven by new starter packs, targeted marketing, and disciplined cost control. However, revenue and operating profit were lower than in the same period last year, largely due to around 16% lower activity in Entropia Universe and an average USD/SEK that was about 9.5% lower versus Q2 2024. After the end of the period, Entropia Universe launched on Steam on 22 July. Steam gives us greater visibility and lowers the barriers to entry for new users, and we expect the launch to accelerate the recovery in the second half as onboarding improves, and ongoing marketing initiatives take effect."

Reporting period
The report covers the period April 1 - June 30, 2025 ("Q2") and January 1 - June 30, 2025.

April 1 - June 30, 2025
Comparative figures in parentheses refer to the same period last year.

• Turnover amounted to 22.1 MSEK (26.8 MSEK)
• Capitalized work amounted to 5.3 MSEK (5 MSEK)
• Operating profit amounted to 2.4 MSEK (5.4 MSEK)
• Profit before tax amounted to 5.9 MSEK (5.7 MSEK)
• Cash & cash equivalents including short-term investments 25.6 MSEK
• No interest-bearing liabilities
• Provision for unconsumed user holdings 30.7 MSEK
• Earnings per share for the period amounted to 0.17 SEK (0.16 SEK)

January 1 - June 30, 2025
Comparative figures in parentheses refer to the same period last year.

• Turnover amounted to 38.7 MSEK (47.5 MSEK)
• Capitalized work amounted to 10.1 MSEK (10 MSEK)
• Operating profit amounted to -2.5 MSEK (6.6 MSEK)
• Profit before tax amounted to 3.3 MSEK (5.8 MSEK)
• Cash & cash equivalents including short-term investments 25.6 MSEK
• No interest-bearing liabilities
• Provision for unconsumed user holdings 30.7 MSEK
• Earnings per share for the period amounted to 0.09 SEK (0.08 SEK)

Significant events during Q2
Leif Evander Andersson took up the position of CEO on 23 April 2025, having been acting CEO since 27 March 2024.

The new planet ARIS was launched on May 7, 2025.

Significant events after the end of the reporting period
On July 22, 2025, Entropia Universe was launched on Steam, a digital distribution platform and online service for computer games with over 100 million active users.

Financial reports
The Company's financial statements, including the forthcoming report, are available on the Company's website, www.mindark.se/investor-relations/financial-reports/. It is available in a Swedish and an English version.

Auditor
This financial statement has not been reviewed by the Company's auditor.

Financial calendar

Interim report Q3, 2025                November 28, 2025

Interim report Q4, 2025                February 27, 2026