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Next Games - Revenue miss, EBIT negative as expected

Next Games Q1 revenue and EBIT amounted to EUR 9.8m (Evli EUR 12.0m) and EUR -2.4m (Evli EUR -2.1m) respectively. Next Games expects to achieve annual savings of approx. EUR 6.5m from its cost savings program. The company’s cash position was at EUR 4.8m at the end of the quarter.
  • Next Games’ revenue in Q1 amounted to EUR 9.8m, below our estimates of EUR 12.0m. Revenue growth y/y on was 104%.
  • EBIT in Q1 amounted to EUR -2.4m, slightly below our estimate of EUR -2.1m. The adjusted operating profit amounted to EUR -1.3m. As a result of the company’s cost savings program, annual savings of approx. EUR 6.5m compared to H2/18 averages are to be achieved.
  • TWD: No man’s land: DAU during Q1 was 225k (Q4/18: 253k). MAU during Q1 was 669k (Q4/18: 728k). ARPDAU was EUR 0.22 during Q1 (Q4/18: 0.25).
  • TWD: Our world: DAU during Q1 was 211k (Q4/18: 223k). MAU during Q1 was 982k (Q4/18: 759k). ARPDAU was EUR 0.26 during Q1 (Q4/18: 0.28).
  • The company’s cash position at the end of the quarter amounted to EUR 4.8m and has according to the company began to stabilize.
  • Next Games expects to get at least two games into testing phase during 2020.

Open Report