Piranha Games

🚨📢 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 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.

Enad Global 7 Annual Report 2021

Enad Global 7 underwent a period of rapid transformation and expansion during 2021, characterized by a strategic shift toward a decentralized management structure and the adoption of International Financial Reporting Standards.

• Enad Global 7 achieved a financial turnaround in 2021, reporting a profit of 96.7 million SEK and earnings per share of 1.13 SEK, compared to a 98.1 million SEK loss in 2020.
• Net sales grew to 1,670.5 million SEK in 2021, driven primarily by the aggressive acquisitions of Piranha Games and Innova.
• The company’s workforce expanded significantly, increasing from an average of 178.6 employees in 2020 to 807.6 in 2021.

Enad Global 7 Interim Report: January–December 2021

Enad Global 7 achieved significant financial expansion throughout 2021, culminating in a record-breaking fourth quarter with net revenue of SEK 573.1 million, representing a 193% year-over-year increase.

Enad Global 7 Interim Report: January–June 2021

Enad Global 7 experienced a period of rapid expansion during the first half of 2021, characterized by a 136 percent year-over-year revenue increase to SEK 769.0 million.

• Enad Global 7 achieved a 136% year-over-year revenue increase to SEK 769.0 million for the first half of 2021.
• The company recorded a net profit of SEK 14.5 million during the first half of 2021, supported by record-setting results in the second quarter.
• Growth was primarily driven by the strategic acquisitions of Piranha Games and Innova, alongside the successful relaunch of MechWarrior 5.

Code of Business Conduct

Enad Global 7 (EG7) establishes a comprehensive framework for ethical business conduct and legal compliance across its global subsidiaries, including Daybreak Games, Piranha Games, and Toadman Studios.

• Enad Global 7 (EG7) mandates a zero-tolerance policy toward bribery, corruption, and facilitation payments across all subsidiaries, including Daybreak Games, Piranha Games, and Toadman Studios.
• The framework enforces strict adherence to international anti-money laundering laws, export controls, and trade sanctions established by the EU, US, and UN.
• As a Nasdaq First North-listed entity, EG7 requires rigorous financial record-keeping and strictly prohibits insider trading by all directors, officers, employees, and third-party contractors.

Enad Global 7 Interim Report: January–March 2021

Enad Global 7 demonstrated substantial financial expansion during the first quarter of 2021, characterized by a 112 percent increase in total revenue to SEK 346.5 million and an EBITDA of SEK 87.0 million.

Annual Report 2020: Enad Global 7

The 2020 fiscal year marked a period of aggressive transformation for Enad Global 7, characterized by a strategic pivot from a service-oriented business toward a vertically integrated developer and publisher of interactive entertainment.

• Enad Global 7 pivoted from a service-oriented business to a vertically integrated developer and publisher through the 2020 acquisitions of Daybreak Game Company, Piranha Games, and Big Blue Bubble.
• Net revenue grew significantly to SEK 569.8 million in 2020, up from SEK 151.6 million in the previous year.
• The company reported a net loss of SEK 148.5 million, driven by financing costs and goodwill depreciation associated with its rapid acquisition strategy.

Enad Global 7 Interim Report: January–December 2020

Enad Global 7 underwent a period of rapid transformation throughout 2020, evolving into a major international gaming entity through aggressive acquisition and capital restructuring.

• Enad Global 7 achieved pro forma annual revenue of SEK 1.7 billion and an adjusted EBITDA of SEK 512 million in 2020, driven by a 245% increase in net revenue during the fourth quarter.
• The company executed a major expansion strategy by acquiring Daybreak Game Company, Piranha Games, and Big Blue Bubble to diversify its intellectual property and scale operations.
• To fund these acquisitions and restructure debt, the company raised SEK 1.7 billion in equity, significantly improving liquidity and reducing interest expenses.

GDC Plays MechWarrior 5: Mercenaries with Piranha Games' Russ Bullock

MechWarrior 5: Mercenaries serves as a modernization of the long-standing franchise, designed to translate the deliberate, heavy combat mechanics of the series into a deep, non-linear single-player campaign.

• Piranha Games developed MechWarrior 5: Mercenaries as a non-linear, single-player campaign, leveraging eight years of technical experience and assets from MechWarrior Online.
• The game features a complex damage model with dozens of distinct degradation states and fully destructible urban environments to simulate the experience of piloting a heavy tank.
• Development efficiency was bolstered by strategic partnerships, including asset sharing and localization collaboration with Harebrained Schemes.