Ninja Kiwi

MTG Q1 2021 Financial Results

Modern Times Group’s financial performance for the first quarter of 2021 reflects a bifurcated operational landscape, characterized by robust growth in the gaming segment contrasted with ongoing pandemic-related headwinds in the esports vertical.

• Modern Times Group reported total net sales of 1,064 million SEK in Q1 2021, a 9% increase when adjusted for foreign exchange.
• The gaming division drove performance with a 32% increase in net sales and a 55% rise in adjusted EBITDA, supported by the integration of Hutch.
• MTG acquired New Zealand-based developer Ninja Kiwi for 1,217 million SEK to secure the Bloons intellectual property and expand its tower defense portfolio.

MTG Q1 2021 Interim Report

Modern Times Group achieved a 9% increase in net sales during the first quarter of 2021, reaching SEK 1,011 million.

• Modern Times Group achieved a 9% increase in net sales to SEK 1,011 million in Q1 2021, driven by an 8% organic growth rate in the gaming vertical.
• The gaming segment's performance was bolstered by the strategic acquisitions of Hutch and Ninja Kiwi, helping to offset an 18% decline in the esports division caused by pandemic-related event cancellations.
• Adjusted EBITDA improved to SEK 100 million, supported by internal cost-saving measures and the strength of the gaming portfolio.

MTG Q2 2021 Interim Report

Modern Times Group achieved a 15 percent increase in net sales at constant currencies during the second quarter of 2021, signaling a period of aggressive expansion within the global gaming and esports sectors.

• Modern Times Group achieved a 15 percent increase in net sales at constant currencies in Q2 2021, reaching a total of SEK 1,198 million.
• The company’s 'Buy & Build' strategy drove gaming net sales to SEK 810 million through the acquisitions of Ninja Kiwi, PlaySimple, and Hutch, which offset a 14 percent organic decline in the gaming segment.
• Despite revenue growth, the company reported a net loss of SEK 11 million and a flat adjusted EBITDA of SEK 155 million due to acquisition costs and strategic investments.

MTG Q3 2021 Interim Report

Modern Times Group achieved substantial financial growth during the third quarter of 2021, characterized by a 58 percent year-over-year increase in net sales to SEK 1,438 million.

Modern Times Group Q4 2021 Interim Report

Modern Times Group concluded the 2021 fiscal year by initiating a fundamental strategic pivot toward becoming a pure-play gaming entity.

Modern Times Group Q2 2022 Interim Report

Modern Times Group achieved a robust financial performance during the second quarter of 2022, characterized by a 7% pro forma net sales growth and an adjusted EBITDA margin of 26%.

Modern Times Group Q3 2022 Interim Report

Modern Times Group underwent a significant strategic transformation during the third quarter of 2022, pivoting toward a pure-play mobile gaming model following the divestment of its esports business.

• Modern Times Group completed its transition to a pure-play mobile gaming company following the divestment of ESL Gaming, which generated SEK 8,281 million in net proceeds.
• The company holds a net cash position of SEK 4,695 million and has initiated a SEK 400 million share repurchase program alongside other capital return efforts.
• Q3 2022 financial performance included 6% pro forma growth and an adjusted EBITDA of SEK 374 million, representing a 27% margin.

Modern Times Group Q4 2022 Year-End Report

Modern Times Group demonstrated resilience throughout 2022, successfully navigating a challenging global gaming market characterized by a broader industry downturn.

MTG Q1 2023 Interim Report

Modern Times Group navigated a complex fiscal landscape during the first quarter of 2023, characterized by a 4% year-on-year decline in net sales to SEK 1,306 million.

Modern Times Group Q2 2023 Interim Report

Modern Times Group demonstrates financial resilience and strategic focus during the second quarter of 2023, characterized by a 9% sequential revenue growth and an adjusted EBITDA of SEK 397 million.

• Modern Times Group achieved an adjusted EBITDA of SEK 397 million in Q2 2023, representing a 27% adjusted EBITDA margin.
• Mobile gaming now accounts for 77% of total sales, driven by the PlaySimple word games franchise and the integration of Ninja Kiwi titles like Bloons TD6.
• The company reported 9% sequential revenue growth, despite a 2% year-over-year decline in constant currency revenue.

Modern Times Group Q1 2024 Interim Report

Modern Times Group achieved a robust financial performance in the first quarter of 2024, characterized by an 11 percent increase in total revenue to SEK 1,447 million and a significant 51 percent rise in adjusted EBITDA to SEK 396 million.

• Modern Times Group reported Q1 2024 revenue of SEK 1,447 million, an 11% increase, and a 51% rise in adjusted EBITDA to SEK 396 million.
• The adjusted EBITDA margin improved to 27%, driven by disciplined user acquisition and live-ops management within the PlaySimple and InnoGames portfolios.
• While daily active users remained flat at 6.5 million, the company successfully increased average revenue per daily active user by 9% year-over-year.