Toadman Interactive AB: Q1 2019 Quarterly Report

Key insights

7 takeaways

01
Toadman Interactive successfully listed on the Nasdaq First North Stockholm exchange on February 4, 2019, to improve market visibility and liquidity.See it on page 6
02
The company raised over 20 million SEK through an oversubscribed share issue, ending the quarter with 24.6 million SEK in cash and an equity ratio of 75%.See it on page 2
03
Q1 2019 financial results included a net turnover of 14.8 million SEK and an EBIT of 1.8 million SEK.See it on page 3
04
The workforce grew to 81 employees, up from 27 at the start of the previous year, to support an aggressive scaling of production capabilities.See it on page 4
05
Toadman increased its royalty share in Project Osiris from 10% to 20% by reducing the contract sum to 6.5 million USD.See it on page 5
06
A partnership with Petrol Advertising for IGI 3 was secured, supported by a 1 million USD investment from the partner.See it on page 4
07
The company continues to balance internal development projects, such as Project Hathor and Skyfighters, with external consulting work for clients like Leyou.See it on page 4

Summary

Toadman Interactive AB’s first-quarter report for 2019 details the company’s financial performance and strategic developments during a period of transition and growth. The primary objective of the report is to communicate the company’s operational progress, including its transition to the Nasdaq First North Stockholm exchange, which took place on February 4, 2019, to increase market visibility and liquidity.

Financially, the group reported a net turnover of 14.8 million SEK and an EBIT of 1.8 million SEK for the first quarter. The company successfully executed an oversubscribed share issue, raising over 20 million SEK to support future growth and strengthen its balance sheet. By the end of the quarter, the group held 24.6 million SEK in cash and bank assets, with an equity ratio of 75%. The company’s workforce expanded significantly, reaching 81 employees compared to 27 at the beginning of the previous calendar year, reflecting an aggressive strategy to scale production capabilities.

Key operational highlights include an agreement to increase the company’s royalty share in Project Osiris from 10% to 20% in exchange for a reduction in the contract sum to 6.5 million USD. Additionally, the company formalized a partnership with Petrol Advertising for the development and marketing of IGI 3, supported by a 1 million USD investment from the partner. Toadman continues to focus on its role as a developer and publisher within the RPG and shooter genres, maintaining a pipeline that includes internal projects like Project Hathor and Skyfighters alongside external consulting work for clients such as Leyou. The report concludes that the company is well-positioned for both organic growth and potential acquisitions, leveraging its resource-efficient business model to navigate the global gaming market.