MAG Interactive generated 71 MSEK in adjusted net sales, an increase of 5% compared to Q1 last year. Improvements in live games resulted in stable revenue growth and a significant increase in ARPDAU.
Summary of the period September 2025 - November 2025:
- Adjusted EBITDA for the quarter was 14,160 KSEK (18,259 KSEK), a decrease of 4,100 KSEK
- The Group's net sales for the quarter were 70,749 KSEK (68,995 KSEK), an increase of 3%
- The Group's adjusted net sales for the quarter were 70,749 KSEK (67,074 KSEK), an increase of 5%
- The Group's adjusted net sales in USD for the quarter were 7,495 KUSD (6,352 KUSD), an increase of 18%
- The Group's game contribution for the quarter was 40,950 KSEK (45,304 KSEK), a decrease of 10%
- Average revenue per daily active user (ARPDAU) for the quarter was 9.3 US cents (6.9 US cents), an increase of 35%
- Earnings per share during the quarter were -0.02 SEK/share (0.10 SEK/share)
- Adjusted earnings per share during the quarter were -0.02 SEK/share (0.13 SEK/share)
- The cost of user acquisition for the quarter was 19,332 KSEK (13,199 KSEK)
Comment from the CEO in summary
"Q1 demonstrated the strength of our core portfolio as we increased our focus on live services and long-term value creation amid higher user acquisition (UA) competition. Our adjusted revenues grew 5% in Q1 compared to the same period last year, reaching 71 MSEK. Measured in our main currency, USD, the adjusted revenue growth was 18%.
"We generated an EBITDA margin of 20% in Q1, showing that we are running a stable business, while investing in tech and new games as well as UA. We expect to unlock more UA investment opportunities in the coming months as our latest game Crozzle expands into additional markets.
"Crozzle is an important building block in our growth journey towards the 500 MSEK of yearly revenues that we are striving to achieve. The game continues to show the highest daily engagement as well as the highest average revenue per daily active user (ARPDAU) in our portfolio.
"We are also happy to see that the growth from our biggest game, QuizDuel, continues. In December QuizDuel recorded its highest daily revenue since the re-launch of the game in 2020.
"The investment level in UA in the quarter (19 MSEK) is lower than we would have liked, mainly due to decreased UA for Crozzle in the US market. We see this as a short term setback as Crozzle is a long-term product for MAG, and crossword is a segment of the word game market where we plan to continue to grow. We have an exciting roadmap for Crozzle in the coming quarters, and we expect to continue to both improve the LTV profile and unlock higher volumes of UA.
"We have multiple new games in the pipeline and are working hard to get another game to soft launch. Thanks to our platform-based building process, we now have a shorter time than ever to go from initial promising metrics to soft launch. The platform allows many previously time-consuming building blocks, that are needed to go from proof of concept to actual product, to be enabled without additional development time.
"Additionally, two new puzzle game cores are currently being tested that are targeted to go live in our biggest games in early 2026. The goal of these puzzle cores is to push the ARPDAU of both QuizDuel and Wordzee to new record levels.
"In order to create continued growth during the year, we focus on enabling increased opportunities for UA investments. This is primarily achieved through international expansion of Crozzle, improved product performance of our growth games and the addition of new games to the portfolio. Thanks to the focus on our tech platform, we can work across all three goals in a very efficient way as they support each other.
"Thanks to our shareholders for taking part in our journey and to everyone working at MAG for your hard work creating fun and engaging experiences for all our players around the world," says Daniel Hasselberg, CEO at MAG Interactive.
Presentation & Report
On January 21, 2026 at 10:00 CET, CEO Daniel Hasselberg and CFO Magnus Wiklander will present the Interim Report live on Twitch. The presentation is held in English. Link to the Twitch feed: www.twitch.com/maginteractive?Daniel Hasselberg will also take questions on the social media platforms X and Bluesky during the course of the day, write on X to @d_hasselberg or @maginteractive, or to @mag-official on Bluesky. For more information and to read the full report please visit https://www.maginteractive.com/investors/investor-relations/reports/.
This disclosure contains information that MAG Interactive is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 21-01-2026 08:00 CET.
For additional information, please contact:
Daniel Hasselberg / CEO / +46 (0)8 644 35 40 / daniel@maginteractive.se
Magnus Wiklander / CFO / +46 (0)8 644 35 40 / magnus.wiklander@maginteractive.se
About MAG Interactive
MAG Interactive is a leading mobile game developer focused on casual social games. With passionate, creative teams and a data-driven business model, MAG delivers world-class gaming experiences to millions of players worldwide. MAG specializes in word games and trivia, with a portfolio of titles including QuizDuel, Crozzle, Wordzee, Word Bubbles, Word Mansion, Tile Mansion, Ruzzle, Word Domination and WordBrain, that have been downloaded over 350 million times. MAG has studios in Stockholm and Brighton and was listed in 2017 on the Nasdaq First North Premier Growth Market with the ticker MAGI. FNCA Sweden AB is appointed Certified Advisor to MAG Interactive. For more information visit www.maginteractive.com
