Coatsink
Company
8 documents in the library are about Coatsink, from writers such as Thunderful and UK Games Fund. Each has a summary and key insights with the page they come from.
Connections
Each row is a game or company named alongside Coatsink, each column a document, oldest first. A mark means that document names it. Select a row to see those documents.
Key figures from the reports
Net revenue grew by 7.0% year-over-year to SEK 62.0 million, supported by back-catalog sales in Publishing and work-for-hire projects at Coatsink.
Thunderful, 2025 · Thunderful Group Q1 2025 Interim Report, p. 7
Swedish company Thunderful Group acquired UK-based developer and publisher Coatsink for an upfront consideration of £23 million.
UK Games Fund, 2020 · Funded Company Acquired for £23 Million: UK
Thunderful aggressively pursued M&A in Q4 2020 and early 2021, acquiring Coatsink Software Ltd (for up to GBP 65.5 million), Station Interactive AB, and Headup GmbH.
Thunderful, 2021 · Thunderful Group Year-End Report 2020, p. 5
Documents about Coatsink
Thunderful Group Interim Report: Q3 2025
Thunderful Group’s Q3 2025 interim results reveal a company grappling with significant liquidity and profitability pressures while attempting to recover underlying operations.
- Thunderful Group faces material going-concern uncertainty as of September 30, 2025, with net equity turning negative at SEK 1.13 billion.
- Atari has become the majority owner following a directed share issue of SEK 50 million, highlighting the company's critical need for external capital.
- The company reported an operating loss of SEK 288.2 million in Q3 2025, driven primarily by a one-off depreciation and impairment charge of SEK 300 million.
Thunderful Group Q1 2025 Interim Report
Thunderful Group's Q1 2025 interim report presents the first quarter results of a Gothenburg-based publisher and developer of PC and console games, following a sweeping 2024 restructuring that divested its Distribution and several Games operations.
- Thunderful Group reduced its operating loss (EBIT) to SEK 65.7 million in Q1 2025, a significant improvement from the SEK 153.9 million loss recorded in Q1 2024.
- Net revenue grew by 7.0% year-over-year to SEK 62.0 million, supported by back-catalog sales in Publishing and work-for-hire projects at Coatsink.
- Personnel expenses dropped by 36.5% as the company reduced its total headcount from 355 to 249 employees as part of a broader restructuring effort.
Thunderful Group Q3 2024 Presentation: Strategic Restructuring
74 MSEK -2 MSEK -69 MSEK INVESTMENTS CASH FLOW OPS. AVAIL.
- Thunderful Group is initiating a major restructuring of its Publishing segment, involving the redundancy of 80–100 FTEs and the closure of internal development studios to shift focus toward third-party publishing.
- The restructuring will incur one-off costs of 25–30 MSEK and write-downs of 220–240 MSEK, with the objective of achieving 80–90 MSEK in annual cost savings.
- Q3 2024 financial performance showed a net revenue of 74 MSEK (down 11% y/y) and an EBIT loss of 69 MSEK, driven by write-downs of capitalized development costs and lower publishing revenue.
Six Years of UKGTF
Since its 2015 launch, the UK Games Fund has backed close to 200 independent UK game projects with grants of up to £25,000 each, aimed at own-IP development at the earliest stage.
- Since its 2015 launch, the UK Games Fund has supported nearly 200 independent game projects with individual grants of up to £25,000.
- The fund has directly supported approximately £14 million in early-stage projects, generating an estimated £20 million in wider economic leverage.
- Portfolio companies report an average staff growth of 45% following their initial funding application.
Thunderful Group Year-End Report 2020
Thunderful group - a nordic powerhouse Thunderful At a glance 3 Financial highlights 2020 § A primarily pan-Nordic gaming group of companies active in two revenue adj.
- Thunderful Group reported a 2020 adjusted EBIT of SEK 271 million on revenue of SEK 3.0 billion, representing an 8.8% margin.
- The company significantly expanded its development capacity by tripling its number of game developers from 70 in 2019 to 225 by the end of 2020.
- Thunderful aggressively pursued M&A in Q4 2020 and early 2021, acquiring Coatsink Software Ltd (for up to GBP 65.5 million), Station Interactive AB, and Headup GmbH.
Funded Company Acquired for £23 Million: UK
Sunderland-based studio Coatsink, an early beneficiary of the UK Games Fund, was acquired by Swedish group Thunderful for an upfront consideration of £23 million.
- Swedish company Thunderful Group acquired UK-based developer and publisher Coatsink for an upfront consideration of £23 million.
- The acquisition deal includes an earn-out component that could bring the total consideration to a maximum of £65.5 million.
- Coatsink will continue to operate as an independent development studio while functioning as part of the Thunderful Games division.
Launch Round Portfolio Update: UK
The UK Games Fund's July 2016 portfolio update reviews progress among the 24 companies funded in its launch round, roughly nine months after the programme opened in autumn 2015.
- The UK Games Fund has received over 300 applications since its launch in Autumn 2015 and has supported a portfolio of 24 companies in its initial round.
- Tag Games leveraged funding to retain seven staff members and secure interest from publishers including Sega US and Flare Games for its project 'Misfits vs. Monsters'.
- Coatsink utilized grant funding to complete a prototype that led to a full-scale development deal, with a multi-platform release scheduled for 2017.
Successful Applicants Announced: UK Games Fund
On February 1, 2016, the UK Games Fund announced the first round of successful applicants to its launch round, with the news delivered by Ed Vaizey, then Minister for Culture and the Digital Economy.
- The UK Games Fund announced its inaugural round of successful applicants on February 1, 2016, as part of a government initiative to support business growth and game development.
- The funding round supported 24 UK-based games companies, including Atomicom, Coatsink Software, Futurlab, Roll7, and Tag Games.
- The program aims to bolster the UK's position in the global video games market by providing capital to help studios develop new titles.