Enad Global 7 Interim Report: Jul-Sep 2025

Key insights

6 takeaways

01
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.See it on page 9
02
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.See it on page 11
03
Operational performance showed mixed results with an adjusted EBITDA of SEK 63.2 million, while adjusted EBIT remained negative at SEK -14.0 million.See it on page 9
04
As of September 30, 2025, the company holds SEK 395.9 million in total cash and cash equivalents, with a net cash balance of SEK 47.9 million.See it on page 13
05
To manage financial volatility, management secured a new SEK 100 million credit facility and is implementing cost-saving measures alongside a strategy to diversify beyond traditional gaming.See it on page 3
06
Daybreak remains the company's primary revenue engine, supported by positive engagement in titles such as Palia and successful MechWarrior 5 downloadable content.See it on page 3

Summary

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. This downturn was primarily driven by a sparse release schedule and adverse currency fluctuations, which offset the positive engagement metrics observed in titles such as Palia and the successful performance of MechWarrior 5 downloadable content. Despite these revenue headwinds, the company achieved a net profit of SEK 19.6 million, marking a significant recovery from the net loss of SEK 29.2 million recorded during the same period in 2024.

Operational efficiency remains a central focus as the group navigates these market challenges. While adjusted EBITDA reached SEK 63.2 million, the company reported an adjusted EBIT of SEK -14.0 million. To bolster financial stability, management has secured a SEK 100 million credit facility and is actively implementing cost-saving measures. Furthermore, the organization is pursuing a diversification strategy that extends beyond the traditional gaming sector to mitigate volatility. Daybreak continues to serve as the primary revenue engine for the group, providing a foundational anchor for the broader portfolio of live-service assets.

The company maintains a resilient liquidity position, reporting SEK 395.9 million in total cash and cash equivalents, with a net cash balance of SEK 47.9 million as of September 30, 2025. Looking ahead, the long-term strategy remains anchored in the disciplined management of its live-service portfolio and the pursuit of selective mergers and acquisitions. The group continues to manage contingent consideration liabilities related to past acquisitions, including long-term tax-saving agreements extending through 2036, as it seeks to stabilize performance and return to sustainable growth.