This an english summary of Gaming Corps AB (publ) (the "Company" or "Gaming Corps") interim report for the first quarter of 2025.
For the full report please see the official Swedish version available at:
https://www.gamingcorps.com/corporate/investor-relations/
In the event of any discrepancies between the Swedish report and the English summary, the Swedish version shall prevail.
KEY FIGURES FIRST QUARTER 2025
| | GROUP JAN-MAR 2025 | GROUP JAN-MAR 2024 |
| Total revenue | 13,4 MSEK | 7,4 MSEK |
| Net revenues | 10,7 MSEK | (7,3 MSEK) |
| Net revenue growth, YoY | 45,7% | -10,0% |
| Operating profit | -5,00 MSEK | (6,1 MSEK) |
| Results after financial items | -10,9 MSEK | (-3,07 MSEK) |
| Earnings per share | -0,09 SEK | (-0,04 SEK) |
| Number of casinos live | +1640 |
Figures in parentheses refer to the first quarter of 2024.
CEO LETTER FROM JUHA KAUPPINEN
Dear shareholders,
We begin 2025 with yet another record quarter in terms of revenue. The company's development closely follows the strategy we have worked with since 2024. As previously communicated, we have begun capitalizing our game development costs in our reporting. For this reason, we have chosen to report both total revenue and net revenue separately. Our total revenue amounts to MSEK 13.4 and our net revenue amounts to MSEK 10.7, which means that we have surpassed the 10 million milestone for the quarter. We are reporting net revenue growth of 45.7% compared to the same period last year, and an increase of 9.8% from the previous quarter. A development that clearly brings us closer to our goal of reaching profitability during 2025, we are today a team of 58 co-workers where we have focused on our commercial team. Looking at expenses, the operating result for the quarter has improved, while the result after financial items is negatively affected by exchange rate fluctuations on the receivable we hold with the company's subsidiaries. This is due to the Swedish krona having strengthened against both the euro and the pound during the quarter.
As previously communicated, we reduced the number of game releases last year in order to focus on creating the right long-term conditions for Gaming Corps' future. During the first quarter, we released four new games and will now continue to increase the pace throughout 2025. The games released have been very well received by both players and streamers, which is as encouraging as it is important. First out was one of our most appreciated releases in the slots category, Gates of Hellfire - an innovative slots game featuring advanced graphics and a distinctly different gameplay experience. Later, we also released the highly anticipated 3 Pigs of Olympus Bonus Pot, which was also well received by players. With 3 Pigs, we put a lot of effort into further developing the game's mechanics, and that work has paid off as we now see the numbers in terms of spins, player engagement and total wager value.
On the topic of wager values, I'd like to highlight the graphs included next to the CEO letter in this report. For those interested, they provide a clear view of how we are progressing over time in terms of the number of casinos reached through our distribution network, the development in player numbers, and the total wager values generated. I believe these three graphs offer a straightforward and accurate picture of Gaming Corps' development as a company.
Our collaboration with the global iGaming group that previously signed a major RGS agreement with us continues to grow stronger. They are impressed by the value we've created in a relatively short time despite being a comparatively small organization. The first games from this partnership are scheduled to be released this summer. We're very excited to see how their players respond to the games and how the collaboration develops both strategically and long term.
As I mentioned in the previous report, we have for some time been placing significant focus on the development of our seventh game engine. The goal with this hybrid between classic RNG and live elements is to create unique and even more engaging gaming experiences. We are in ongoing discussions regarding the launch and marketing of the game, and we hope it will be as well received by the market as our unique Smash4Cash mechanic.
Gaming Corps is now well positioned, financially, commercially, and in terms of expertise, to begin delivering the full lineup of games and experiences we've planned for 2025. A heartfelt thank you to all our shareholders who have supported us on this journey so far. We strongly believe in the future and look forward to continuing it together with you.
As always, I want to thank you for your commitment and support.
Best regards
Juha Kauppinen
CEO Gaming Corps AB
For more information, please contact
Juha Kauppinen, CEO: juha@gamingcorps.com
IR: ir@gamingcorps.com
Certified Adviser, Eminova Fondkommission AB: info@eminova.se, +46 8 684 211 00
This press release is available in its entirety on www.gamingcorps.com/newsroom
This information is such information that Gaming Corps AB (publ) is obliged to disclose pursuant to the EU Market Abuse Regulation 596/2014. The information was submitted for publication, through the agency of the contact person mentioned above, at the time specified by Gaming Corps' news distributor MFN upon the publication of this press release.
About us
Gaming Corps is a developer of digital games, focusing on both traditional and non-traditional premium games for online casinos. The company's operations span several areas where, in addition to an established global distribution network of casinos, it develops Casino Slots, Table Games, Multiplier Games, Mine Games, Plinko Games, and the Smash4Cash series. Founded in 2014, the company is headquartered in Sweden with development teams in the UK, Malta, and Ukraine. Gaming Corps AB is listed on Nasdaq First North Growth Market under the ticker symbol GCOR, with ISIN code SE0014694691, and its Certified Adviser is Eminova Fondkommission AB.
Denna information är sådan information som Gaming Corps är skyldigt att offentliggöra enligt EU:s marknadsmissbruksförordning. Informationen lämnades, genom ovanstående kontaktpersoners försorg, för offentliggörande den 2025-05-16 07:01 CEST.
