SOZAP AB JANUARY –
- Net revenue amounted to MSEK 4.7 (3.3), an increase of 42 percent, and an increase of 41 percent in comparable currency.
- EBITDA amounted to MSEK -1.2 MSEK (-0.6).
- Operating result, EBIT, amounted to MSEK –3.9 (-1.9).
- Result for the quarter amounted to MSEK -3.9 (-1.9).
- Earnings per share were
SEK -0.34 (-0.22) before and after dilution. - Cash flow from operating activities was MSEK -1.8 (-1.7).
- Cash and cash equivalents amounted to MSEK 1.8 (6.8).
- Average Revenue Per Daily Active User (ARPDAU) amounted to
USD 0.083 (0.056), an increase of 48 percent compared to the previous year. - Unique Monthly Active Users (MAU) during the quarter amounted to 0.9 million (0.9).
- The number of outstanding shares at the end of the period was 11 361 120. The number of subscription warrants issued at the end of the period was 250 000, unchanged during the quarter.
A FEW WORDS FROM OUR CEO
We started 2024 with a more efficient organization and an increased focus on our most promising title in development, Fishing Tour. The soft launch has yielded positive results and insights, and we continue our development of Fishing Tour with great enthusiasm. During the first quarter, we implemented several important product updates that improve the user experience and ongoing development moving forward. We plan to launch a significant update featuring an improved user interface in the current quarter, followed by regular updates with the goal of starting an official launch in the third quarter.
Our portfolio of launched games, ARMED HEIST and Questopia, generated an income of MSEK 4.7 during the quarter, a 41 percent increase compared to the same period last year. ARMED HEIST continues to have stable organic traffic on both the
During the first quarter, we completed our proprietary data processing and user monetization system, AGIM, named after our Lead Monetization Manager,
Despite the challenges we have faced in the mobile games sector in recent years, with changing conditions for new game launches and user acquisition, I am proud of our progress and the opportunities ahead of us. We have encountered obstacles along the way that have partly slowed our progress, but I am confident that we will succeed even if this will require more capital than we first assumed. We are addressing this through the upcoming rights issue, in which I fully participate to show my confidence and commitment to the Company’s future.
We have two main goals for 2024: to launch a scalable version of Fishing Tour, and no later than Q4 achieve a cash flow-neutral company, calculated before investments in marketing for the growth of Fishing Tour. Through our transition, we have adapted to our environment, and we are developing a game title that has the potential to retain its users for several years, which is key to succeeding in the maturing mobile gaming market. I ask our shareholders to be patient; we will continue to be efficient and reduce our costs where possible without jeopardizing the Company’s long-term value creation.
Rade Prokopovic
Chief Executive Officer
FINANCIAL CALENDAR
All financial reports are published on https://www.sozap.com/ir/financial-reports
- Interim Report, Q2 2024:
Aug 14, 2024 - Interim Report, Q3 2024:
Nov 14, 2024 - Year-end Report 2024:
Feb 14, 2025
BOARD OF DIRECTORS
The Board of Directors and the CEO affirm that the Year-end report provides a fair overview of the Parent Company’s and the Group’s operations, financial positions and results, and describes the significant risks and uncertainties which the Parent Company and the Group are facing.
Nyköping,
Claes Wenthzel
Chair of the Board
Board member
Board member
Board member
Rade Prokopovic
CEO
This report and press release are translated versions of the Swedish originals. Every care has been taken in the translation of this document. In the event of discrepancies, the Swedish original will supersede the English translation.
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