Tensquare Games Q3 2022 Results

Key insights

6 takeaways

01
Ten Square Games reported Q3 2022 revenue of 132.9 million PLN, with an 11% quarter-over-quarter increase in bookings and a 23% rise in adjusted EBITDA.See it on page 3
02
Core titles Fishing Clash and Hunting Clash were the primary revenue drivers, generating 88.8 million PLN and 32.5 million PLN respectively.See it on page 25
03
The company achieved a net profit of 19.1 million PLN while maintaining a consistent gross profit margin of 87%.See it on page 25
04
The global launch of Wings of Heroes contributed to the company's financial recovery and performance stabilization during the quarter.See it on page 8
05
Operational strategy focuses on balancing marketing investments with cost management, alongside portfolio diversification through internal development and studio acquisitions.See it on page 14
06
The company restricts investor participation to Qualified Institutional Buyers due to the fact that its securities are not registered for public offering under the U.S. Securities Act of 1933.See it on page 32

Summary

Ten Square Games achieved a notable return to growth during the third quarter of 2022, characterized by an 11 percent quarter-over-quarter increase in bookings and a 23 percent rise in adjusted EBITDA. This financial recovery was underpinned by the robust performance of core titles, specifically Fishing Clash and Hunting Clash, which generated 88.8 million PLN and 32.5 million PLN in revenue respectively. The successful global launch of Wings of Heroes further bolstered these results, signaling a period of stabilized performance despite broader macroeconomic volatility.

Total quarterly revenues reached 132.9 million PLN, supported by a consistent gross profit margin of 87 percent and a net profit of 19.1 million PLN. These figures reflect a strategic balance between sustained marketing investments and the management of operational costs. The company remains committed to portfolio diversification, leveraging its development pipeline and the integration of acquired studios to mitigate risks and sustain momentum in the competitive mobile gaming market.

The scope of these operations remains focused on global digital distribution, though the company maintains strict regulatory compliance regarding its financial communications. Participation in investor discussions is limited to Qualified Institutional Buyers, as the company’s securities are not registered for public offering under the United States Securities Act of 1933. This regulatory framework underscores the company's adherence to international legal standards while it continues to navigate the complexities of the global gaming industry.