My Singing Monsters

Enad Global 7 Annual Report 2023

Enad Global 7 achieved a significant financial turnaround in 2023, reporting net revenue of SEK 2,045 million and a net profit of SEK 199.6 million, a marked improvement over the substantial losses recorded in 2022.

• Enad Global 7 achieved a financial turnaround in 2023 with SEK 2,045 million in net revenue and a net profit of SEK 199.6 million, reversing the losses recorded in 2022.
• The company has set a 2026 financial target of SEK 3 billion in revenue and SEK 1 billion in adjusted EBITDA, supported by a planned SEK 360 million investment in middle-market publishing and new growth vectors.
• Financial stability has been strengthened by eliminating all external debt liabilities and maintaining a liquidity position of approximately SEK 480 million in cash and cash equivalents.

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 Interim Report: Apr-Jun 2023

Enad Global 7 demonstrated a robust financial recovery during the second quarter of 2023, characterized by a shift toward profitability and improved operational efficiency.

• Enad Global 7 shifted to profitability in the first half of 2023, reporting a net profit of SEK 89.7 million compared to a net loss during the same period in 2022.
• The company achieved a 4.3% year-over-year revenue increase to SEK 482.9 million in Q2 2023, driven by strong performance from titles including My Singing Monsters, Core Keeper, and Shadows of Doubt.
• Adjusted EBITDA rose 34.4% to SEK 113.3 million, representing a 23.5% margin for the quarter.

Enad Global 7 Interim Report: Jan–Mar 2023

Enad Global 7 achieved record-breaking financial results during the first quarter of 2023, characterized by a 43 percent year-over-year increase in net revenue to SEK 571.7 million.

• Enad Global 7 reported record Q1 2023 net revenue of SEK 571.7 million, a 43% increase year-over-year.
• The Game segment grew by 86%, driven primarily by the strong performance of Big Blue Bubble’s title, My Singing Monsters.
• The company eliminated all external bank debt, moving to a net cash position of SEK 447.9 million as of March 31, 2023.

Enad Global 7 Annual Report 2022

Enad Global 7 (EG7) navigated a transformative 2022 fiscal year characterized by significant revenue growth alongside substantial structural restructuring.

• EG7 reported a net loss of SEK 1,238.9 million in 2022, primarily due to asset impairments from the sale of its Russian subsidiary, Innova, and the cancellation of a high-profile Marvel project.
• Net revenue grew by 27.1% to SEK 1,865.9 million, driven by strong performance in the Games segment from 'The Lord of the Rings Online' and 'My Singing Monsters', alongside a 12% expansion in the Services segment.
• The company significantly improved its financial position by reducing liabilities to credit institutions and maintaining a robust equity ratio of 78.8%.

Enad Global 7 Year-End and Q4 Report 2022

Enad Global 7 experienced a transformative 2022, characterized by robust top-line growth alongside a strategic pivot toward a service-oriented business model.

• Enad Global 7 reported a net loss of SEK 1,239.0 million for 2022, primarily driven by a SEK 308.6 million write-down in R&D and costs associated with discontinued operations.
• Annual net revenue grew by 27.1% to SEK 1,865.9 million, while adjusted EBITDA increased by 48.6% to SEK 482.8 million.
• The company is pivoting its business model toward work-for-hire services, resulting in the cancellation of internal projects at the Toadman and Antimatter Games studios.

Analyst Bulletin: Mobile Game Market Review November 2022

The mobile gaming market in November 2022 was characterized by a surge in high-profile brand collaborations and seasonal event integration, particularly surrounding the FIFA World Cup.

• Major mobile titles including Call of Duty Mobile, PUBG Mobile, and Mobile Legends: Bang Bang leveraged the November 2022 World Cup to drive engagement through athlete-themed character skins and in-game events.
• Goddess of Victory: Nikke achieved significant international success, ranking in the top 30 grossing in the US and the top 5 in Japan following its early November launch.
• My Singing Monsters, a title released in 2012, returned to the top 50 grossing charts in November 2022, driven primarily by viral popularity on TikTok.