Piranha

Enad Global 7 Q2 Interim Report 2026

Enad Global 7 demonstrated significant financial growth during the second quarter of 2026, characterized by a 25.3 percent year-over-year increase in net revenue to SEK 474.6 million.

• Enad Global 7 reported a 25.3% year-over-year increase in net revenue to SEK 474.6 million for Q2 2026.
• The early access launch of Far Far West by Fireshine generated SEK 118.6 million in revenue, serving as a primary driver for the quarter.
• Adjusted EBITDA reached SEK 99.4 million, supported by operational efficiency and improved profitability at the Petrol business unit.

Enad Global 7 Annual Report 2025

Enad Global 7’s 2025 annual report details a year of significant financial restructuring and strategic consolidation for the international gaming group.

• Enad Global 7 reported a net loss of SEK 1,935.1 million in 2025, primarily driven by SEK 2.3 billion in intangible asset impairments and goodwill write-downs.
• Net revenue declined 5.1% to SEK 1,626.3 million, impacted by currency fluctuations and the conclusion of specific game launch cycles.
• The group maintained an adjusted EBITDA of SEK 254.0 million and a cash position of SEK 390.3 million, bolstered by a SEK 350 million bond issuance and the closure of the Toadman studio.

🚨📢 Breaking News: New Ubisoft Mobile Shooter + Layoffs, Layoffs and Closures

The gaming industry is currently undergoing a significant period of contraction and strategic realignment, characterized by widespread layoffs, studio closures, and the cancellation of long-term, high-budget projects.

• The gaming industry is undergoing a major contraction characterized by widespread layoffs and the cancellation of high-budget projects due to unsustainable North American development costs.
• Eidos Montreal cut 124 jobs and canceled a project that had been in development for over seven years at a cost of hundreds of millions of dollars.
• Unity is divesting from its game-publishing arm, Supersonic, to pivot toward an ad-tech model focused on AI-driven user acquisition tools.

Enad Global 7 Interim Report: Jul-Sep 2025

Enad Global 7 faced a difficult third quarter in 2025, characterized by a notable contraction in top-line performance. Net revenue fell to SEK 355.3 million, representing a 23.7% year-over-year decline.

• Enad Global 7 reported a 23.7% year-over-year decline in net revenue to SEK 355.3 million for Q3 2025, driven by a sparse release schedule and currency fluctuations.
• The company achieved a net profit of SEK 19.6 million, a significant turnaround from the SEK 29.2 million net loss recorded in Q3 2024.
• Operational performance showed mixed results with an adjusted EBITDA of SEK 63.2 million, while adjusted EBIT remained negative at SEK -14.0 million.

Embracer Group Layoffs: 7,800 Jobs Cut in 2 Years

Between 2023 and 2025, Embracer Group underwent a massive corporate restructuring that resulted in the loss of approximately 7,800 jobs, representing over 50% of its total workforce.

• Between 2023 and 2025, Embracer Group reduced its workforce by approximately 7,800 employees, cutting its total headcount by more than 50%.
• The restructuring involved the closure of 44 studios and the cancellation of 80 in-development projects, including major titles such as Deus Ex and TimeSplitters.
• The primary catalyst for the downsizing was the collapse of a $2 billion investment deal in May 2023, which left the company unable to service its debt after a period of rapid, over-leveraged expansion.

ENAD Global 7 Q4 2024 Interim Report

The ENAD Global 7 Q4 2024 interim report outlines the company’s financial performance for the final quarter and the full fiscal year of 2024.

• ENAD Global 7 reported full-year 2024 net revenue of 1,713 million SEK, marking a 16.2% year-over-year decline and missing internal performance targets.
• The company achieved its strongest performance in Q4 2024 with 513 million SEK in net revenue and an adjusted EBITDA margin of 25%.
• Full-year adjusted EBITDA margin reached 19%, falling short of the company's updated 20% target.

Enad Global 7 Year-End and Q4 Report 2024

Enad Global 7 concluded the 2024 fiscal year with a complex financial performance characterized by resilient quarterly revenue growth offset by significant non-recurring charges.

• Enad Global 7 reported a Q4 2024 net loss of SEK 183.5 million and a full-year net loss of SEK 160.2 million, primarily driven by a SEK 342.3 million goodwill impairment related to the Piranha subsidiary.
• Q4 2024 net revenue reached SEK 512.9 million, an 8.4% year-over-year increase, despite the underperformance of 'MechWarrior 5: Clans' and the normalization of 'My Singing Monsters'.
• The company is implementing restructuring efforts across Toadman, Petrol, and Piranha, which are projected to generate total annual cost savings of approximately SEK 160 million.

Enad Global 7 Q3 2023 Investor Presentation

Enad Global 7’s Q3 2023 investor presentation outlines a period of solid profitability and strategic development, characterized by 16% year-over-year organic growth and a net revenue of SEK 517 million.

• Enad Global 7 reported Q3 2023 net revenue of SEK 517 million with 16% year-over-year organic growth and an adjusted EBITDA margin of 27%.
• Big Blue Bubble drove significant performance with net revenues 157% higher than the same period in 2022, while the Daybreak unit saw a 15% year-to-date revenue decline due to underperformance in DCUO and LOTRO.
• The company maintains a strong cash position of SEK 473 million and is initiating a shareholder capital return program, with an Extraordinary General Meeting scheduled for December.

Enad Global 7 Investor Presentation: Jan-Mar 2023

Enad Global 7’s investor presentation for the first quarter of 2023 details a period of record-breaking financial performance, characterized by significant year-over-year growth and a strengthened balance sheet.

• Enad Global 7 achieved record Q1 2023 financial results with SEK 572 million in net revenue, a 43% year-over-year increase, and an adjusted EBITDA margin of 33%.
• The Game Segment drove performance with SEK 475 million in revenue, an 86% increase, largely due to 'My Singing Monsters' which accounted for 46% of segment revenue and 68% of adjusted EBITDA.
• The company ended the quarter in a strong liquidity position with SEK 453 million in cash and zero bank debt at the holding level.

Enad Global 7 Year-End and Q4 Report 2023

Enad Global 7 achieved a significant financial turnaround during the 2023 fiscal year, transitioning from a substantial net loss in 2022 to a net profit of SEK 205.1 million.

Annual Report: January – December 2024

Enad Global 7 (EG7) experienced a period of significant transition and consolidation during the 2024 fiscal year, characterized by strategic restructuring in response to a volatile global gaming market.

• EG7 reported a net loss of SEK 236.4 million in 2024, driven by a 16.2 percent revenue decline to SEK 1,713.0 million and a SEK 342.3 million goodwill impairment.
• Management initiated cost-saving measures, including the closure of Toadman and restructuring at Piranha Games, to achieve SEK 191.0 million in annual savings by the second half of 2025.
• The group’s live-service portfolio, led by Daybreak and Big Blue Bubble, generated 68.9 percent of total revenue, serving as the primary source of cash flow stability.

Enad Global 7 Interim Report: Jul-Sep 2023

Enad Global 7 demonstrated robust financial performance during the third quarter of 2023, achieving net revenue of SEK 517.3 million, which represents a 16.4% year-over-year organic growth rate.

• Enad Global 7 set a 2026 financial target of SEK 3 billion in revenue and SEK 1 billion in adjusted EBITDA.
• Q3 2023 net revenue reached SEK 517.3 million, reflecting 16.4% year-over-year organic growth.
• Cumulative revenue for the first nine months of 2023 totaled SEK 1,571.9 million, up from SEK 1,306.9 million during the same period in 2022.