The Group continued to achieve growth in revenue in both Oct-Dec 2025 and FY 2025, leading to a much-improved financial performance for both periods. The strong top-line performance was partially offset by restructuring costs amounting to SEK 332k for Oct-Dec 2025 and SEK 12,706k for FY 2025, as a result of restructuring programme initiated in Q2 2025 that continued into the end of the year.
| (Thousands SEK) | Oct-Dec 25 | Oct-Dec 24 | % movement | FY 25 | FY 24 | % movement |
| Revenue | 40,529 | 35,456 | ? 14% | 165,649 | 92,061 | ? 80% |
| EBITDA | 16,345 | 8,956 | ? 83% | 33,629 | 5,894 | ? 471% |
| Operating Income/(Loss) | 9,236 | 1,505 | ? 514% | 6,659 | (16,921) | ? 139% |
| Profit/(Loss) for the period | 8,866 | 721 | ? 1130% | 5,158 | (22,130) | ? 123% |
| Total assets | 81,171 | 81,933 | ? 1% | 81,171 | 81,933 | ? 1% |
| Net assets | 45,789 | 37,280 | ? 23% | 45,789 | 37,280 | ? 23% |
| Profit/(Loss) per share, SEK | 0.03 | 0.00 | ? 0% | 0.02 | (0.09) | ? 120% |
| Total number of shares | 297,020,539 | 286,647,906 | ? 4% | 297,020,539 | 286,647,906 | ? 4% |
| Average number of shares | 297,020,539 | 286,647,906 | ? 4% | 293,649,149 | 239,173,085 | ? 23% |
SIGNIFICANT EVENTS DURING THE FOURTH QUARTER OF 2025
- There have been no events during the fourth quarter that require adjustment or disclosure in these financial statements.
SIGNIFICANT EVENTS AFTER THE END OF THE PERIOD
- There have been no events after the reporting period that require adjustment or disclosure in these financial statements.
A WORD FROM THE CEO
Dear Shareholders,
The fourth quarter of 2025 concludes a transformative year for the Group, marked by continued expansion of our technology platform, strategic operational improvements, and the strengthening of our position as a provider of scalable gaming infrastructure and services. Throughout the year, we have remained focused on building a more integrated and resilient business, supported by our growing technology ecosystem and expanding partner network.
During the quarter, royalty revenues declined compared with the same period in the prior year. This was primarily the result of a strategic change in one legacy customer arrangement, where the royalty-based structure was phased out following a review of the commercial partnership. At the same time, the Group undertook a broader recalibration of its royalty framework across selected agreements, aligning commercial terms more closely with our evolving platform strategy and the increasing role of technology services within the business.
These adjustments reflect our focus on improving the quality and scalability of revenues by shifting toward commercial models that better capture the value delivered through our platform, infrastructure, and operational support. While the changes had a short-term impact on reported royalties, they strengthen the long-term foundation of the business and position the Group for more sustainable growth as our technology ecosystem continues to expand.
Encouragingly, other areas of the business continued to develop positively. Service-based revenues and technology access fees increased as we expanded system access to additional partners and delivered new service projects across the platform. This diversification of revenue streams reinforces the value of our proprietary technology and supports our broader strategy of building a more balanced and scalable revenue model.
During 2025, we also implemented operational adjustments aimed at strengthening efficiency and preparing the Group for its next stage of growth. While these initiatives resulted in certain one-off restructuring costs during the year, they are expected to contribute to improved operational discipline, leaner cost structures, and stronger margins over time.
From a cash flow perspective, we generated strong operating cash inflow of SEK 22.7 million for the full year, reflecting the underlying strength of the business and improved profitability. While the fourth quarter saw a temporary outflow, this was primarily driven by timing effects in customer collections and working capital movements rather than any structural change in performance. We remain focused on improving cash conversion and maintaining disciplined capital allocation as we continue to scale the business.
Looking ahead, our focus remains on further expanding our platform capabilities, deepening partnerships with operators and technology providers, and exploring strategic opportunities that strengthen our connected entertainment ecosystem. With a strengthened operational foundation and a growing technology offering, we believe the Group is well positioned to continue delivering sustainable growth and long-term value for our shareholders.
As we move into 2026, our focus will be on accelerating growth through the acquisition of new clients and expanding our partner ecosystem across both existing and new markets. With a strengthened platform, a more refined commercial model, and increasing demand for our technology and services, we see a clear opportunity to drive further scale while continuing to enhance the quality of our revenue base.
With a stronger operational foundation, improved financial performance, and a clear strategic direction, we believe the Group is well positioned to continue delivering sustainable growth and long-term value for our shareholders.
On behalf of the management team, I would like to thank our employees, partners, and shareholders for their continued trust and support.
Stockholm, March 27 2026
Chi Ho Li
CEO
FUTURE REPORTING DATES
Annual Report May 21, 2026
Q1 2026 May 29, 2026
AGM June 11, 2026
Q2 2026 Aug 21, 2026
Q3 2026 Nov 20, 2026
All financial reports are published on the company's website, www.embplc.com.
About the Company
Founded in 2019 and formerly known as LL Lucky Games, EMB Mission Bound is pioneering a new era of connected entertainment. Focused on the gaming industry, we aim to connect businesses, their customers, and the excitement of play in innovative and transformative ways. The company is listed on the Nasdaq First North Growth Market under the ticker symbol EMB. For more information, please visit: www.embplc.com
The Company's Certified Advisor
Corpura Fondkommission AB
For more information
Andrea Wang
Senior Communications Manager
EMB Mission Bound AB
andrea.wang@embplc.com
www.embplc.com
This information is information that EMB Mission Bound AB 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 above, at 2026-03-27 10:00 CET.
