SUMMARY OF YEAR-END REPORT 2024
HIGHLIGHTS 1 OCT 2024 - 31 DEC 2024
- Revenue amounted to SEK 93 million (82), an increase of 13%.
- Adjusted EBITDA amounted to SEK 20 million (18), an increase of 15%.
- EBITDA amounted to SEK 20 million (74), a decrease of 72%.
- Adjusted EBIT amounted to SEK 15 million (14), an increase of 2%.
- EBIT amounted to SEK 15 million (34), a decrease of 57%.
- Profit before tax amounted to SEK 4 million (24).
- Cash flow from operating activities before changes in working capital amounted to SEK 10 million (3).
- Earnings per share during the quarter amounted to SEK 0.1 (0.8).
HIGHLIGHTS 1 JAN 2024 - 31 DEC 2024
- Revenue amounted to SEK 321 million (273), an increase of 18%.
- Adjusted EBITDA amounted to SEK 62 million (39), an increase of 59%
- EBITDA amounted to SEK 62 million (90), a decrease of 31%.
- Adjusted EBIT amounted to SEK 38 million (23), an increase of 66%
- EBIT amounted to SEK 38 million (37), an increase of 3%.
- Profit before tax amounted to SEK 1 million (12).
- Cash flow from operating activities before changes in working capital amounted to SEK 27 million (7).
- Earnings per share amounted to SEK 0.0 (0.3).
COMMENTS BY THE CEO
2024: A YEAR OF GROWTH AND PERFORMANCE
Q4 marks the conclusion of a strong 2024 for M.O.B.A. Network, highlighted by continued revenue growth, solid adjusted EBITDA growth, and significant improvements in cash flow before changes in working capital. We successfully repurchased bonds for SEK 36 million, completed the remaining payment for the Wargraphs acquisition (SEK 23 million), and covered associated interest, reinforcing our commitment to strategic investment and capital optimization. This quarter not only reflects our strong operational execution but also caps off a year of meaningful progress and financial resilience. We remain focused on strategically optimizing long-term growth prospects while building on the positive momentum we've established throughout the year.
DRIVING GROWTH, STRENGTHENING FINANCIALS, AND ADVANCING PERFORMANCE
Revenue grew by 13% during the quarter, and our cash flow before changes in working capital showed a notable improvement. For the full year, cash flow before changes in working capital increased from SEK 7.1 million to SEK 27.5 million.
During the quarter we achieved solid adjusted EBITDA growth to SEK 20 million (18), driven by organic revenue expansion. We repurchased an additional EUR 1.1 million of our outstanding corporate bonds and we are also evaluating our core holdings to strengthen our growth prospects and enhance profitability, while continuing to improve our balance sheet.
Our portfolio, which primarily focuses on leading community platforms, our creator network, in-game apps, and data-driven web brands, is well-positioned to capitalize on synergies and deliver continued growth. These assets represent substantial opportunities for development and scaling by increasing our userbase and traffic as well as exploiting subscriptions. To support this sharper focus, we have recently brought on a new Product Owner and we are expanding our development team. These key hires will be instrumental in executing our ambitious product roadmap that aims to create greater value for our users and shareholders.
CASH POSITION
During 2024 our cash position was impacted by two significant transactions: the repurchase of bonds for SEK 36 million, which will lower our interest costs, and an additional purchase price payment of SEK 23 million to the previous owner of Wargraphs. These transactions, totaling SEK 59 million, have impacted our cash reserves. However, the bond buybacks are in line with our long-term objectives and contribute to strengthening our financial foundation.
WARGRAPHS: NO DILUTION, FULL FOCUS
During the quarter, we resolved the planned earn-out related to the acquisition of Wargraphs. We had previously allocated SEK 91 million for this earn-out, which has now been written down in Q4. Importantly, this earn-out would have been settled in shares, so its cancellation eliminates any potential dilution for our shareholders, simplifying our balance sheet. Wargraphs remains a strategic asset, and we are fully committed to maximizing its growth and profitability.
REFLECTING ON 2024: A YEAR OF POSITIVE MOMENTUM
2024 has been a year of growth for M.O.B.A. Network. Compared to the challenges we faced in 2023, our performance this year clearly demonstrates our ability to lift the company to new heights. We've not only regained momentum but have laid a solid foundation for sustainable growth by investing in product and development. This progress is a testament to the resilience of our business model, the dedication of our team, and the strategic decisions we've made to strengthen our operations. We are confident that this positive trajectory will continue, fueling our ambitions for the years ahead.
ROADMAP FOR 2025: BUILDING ON OUR MOMENTUM
Looking ahead to 2025, we are entering the year with a clear vision. Our key priorities include expanding our in-game app offerings, enhancing user engagement across our community platforms, and launching new subscription-based offerings. By doubling down on our core strengths, we aim to sustain our growth trajectory and further establish M.O.B.A. Network as a leader in the gaming community sector.
I would like to express my sincere gratitude to our shareholders, the board of directors, and the entire M.O.B.A. Network team for their dedication and support. Together, we are building a stronger, more focused company that is poised for long-term success.
Anders Ribbing
CEO, February 14th, 2025
Contacts
Anders Ribbing, CEO
info@wearemoba.com
https://wearemoba.com
Certified Adviser - FNCA Sweden AB
About M.O.B.A. Network
M.O.B.A. Network owns and operates a diversified portfolio of
gaming community platforms and in-game apps, with a vision to
become the go-to destination for gamers and creators worldwide.
Engaging millions of users across the world's most popular games,
the company monetizes its platforms primarily through advertising,
with an increasing share of subscription-based revenue.
Headquartered in Stockholm, Sweden, M.O.B.A. Network is publicly
listed on Nasdaq First North Growth Market under the ticker 'MOBA'
and on OTCQX under the ticker 'MOBAFN'.
For more information, please visit wearemoba.com
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This information is information that M.O.B.A. Network 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 2025-02-14 08:00 CET.
