Warhammer 40,000: Tacticus

Q2 and H1 2026 Performance Report

The Q2 and H1 2026 performance report for MTG highlights a period of stable organic growth and strong operational efficiency.

• MTG reported Q2 2026 net sales of SEK 2,965 million, reflecting a 5% year-over-year organic revenue increase driven by RAID: Shadow Legends and the PlaySimple portfolio.
• The Casual segment is the primary growth engine, achieving 29% organic growth and SEK 736 million in revenue, compared to 1% organic growth and SEK 2,230 million in the Midcore segment.
• User acquisition (UA) spend reached SEK 1,163 million, representing 39% of total revenue and a 15% year-over-year increase in constant currency to support titles like Crossword Go and Tile Match.

Q3 2025 Interim Report: Modern Times Group MTG AB

Modern Times Group achieved robust financial results in the third quarter of 2025, characterized by 15% organic growth and a 23% adjusted EBITDA margin.

• MTG achieved 15% organic growth and SEK 2,987 million in net sales during Q3 2025, marking a 126% increase in constant currency.
• The $659 million acquisition of Plarium Global Ltd significantly expanded MTG's mid-core mobile gaming portfolio, with RAID: Shadow Legends and Warhammer 40,000: Tacticus serving as primary revenue drivers.
• The company reported an adjusted EBITDA of SEK 675 million for the quarter, representing a 23% adjusted EBITDA margin.

Conference Call Q2 2025

Modern Times Group MTG AB reported significant financial expansion for the second quarter of 2025, primarily driven by the strategic consolidation of Plarium and robust organic performance.

• MTG reported Q2 2025 net sales of 2,911 SEKm, a 117% year-over-year increase driven by the consolidation of Plarium and 9% organic growth.
• Adjusted EBITDA rose 50% year-over-year to 640 SEKm, maintaining a stable 22% margin despite increased marketing and growth investments.
• User engagement reached 10 million Daily Active Users (DAU), supported by the Plarium acquisition and geographic expansion of the Word Games portfolio.

Modern Times Group Q3 2023 Interim Report

Modern Times Group demonstrated robust financial health during the third quarter of 2023, characterized by a 6% year-over-year increase in net sales to SEK 1,494 million.

• Modern Times Group achieved record-breaking adjusted EBITDA of SEK 449 million in Q3 2023, representing a 30% margin.
• Net sales grew 6% year-over-year to SEK 1,494 million, leading management to raise the full-year adjusted EBITDA margin guidance to 25%–27%.
• Average revenue per daily active user increased by 12% year-over-year, effectively offsetting a 2% decline in daily active users.

Modern Times Group Q4 2023 Earnings Results

Modern Times Group concluded the 2023 fiscal year with strong financial momentum, characterized by a 13 percent increase in net sales to SEK 1,571 million during the fourth quarter.

Modern Times Group Q2 2024 Interim Report

Modern Times Group maintains its strategic trajectory as an international mobile gaming entity, balancing a disciplined approach to operational efficiency with a commitment to long-term portfolio growth and industry consolidation.

Modern Times Group Q4 2024 Earnings Results

Modern Times Group concluded the 2024 fiscal year with strong operational momentum, characterized by 9% organic revenue growth and an adjusted EBITDA margin of 27% in the fourth quarter.

• Modern Times Group is acquiring Plarium, a strategic move projected to double the company's total revenue and integrate advanced monetization infrastructure.
• Q4 2024 performance showed 9% organic revenue growth and an adjusted EBITDA margin of 27%, with adjusted EBITDA rising 4% year-over-year to SEK 455 million.
• The company reported a net loss of SEK 242 million for the quarter, driven by M&A-related expenses, earnout revaluations, and the deconsolidation of Kongregate.