Slide 1: Stillfront Q3 2024 Interim Report
Stillfront Q3 2024 Interim Report »
Slide 2: Q3 net revenue and gross profit highlights
• Net revenue of 1,595 MSEK in Q3, down by 4.6 percent YoY and by Net revenue -4.6% YoY 0.8 percent organically • Gross profit margin of 80 percent, in line with Q2 and up by 2.0 pp YoY, driven by mix effects and increased share of bookings from DTC channels 1,595 MSEK • Adjusted EBITDAC margin at 2
Slide 3: Net revenue & UAC
Net revenue & UAC Net revenue & UAC (LTM) 1,671 1,595 -1% 1,742 1,739 1,744 7,022 6,982 6,964 6,895 -4% -0% 1,671 6,819 1,595 34% 31% 30% 29% 29% 29% 26% 26% 27% 25% Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'23 LTM Q4'23 LTM Q1'24 LTM Q2'24 LTM Q3'24 LTM Net Revenue (MSEK) UAC, % of Net Revenue Net revenue L
Slide 4: Adj EBITDAC and LTM
Adj EBITDAC Adj EBITDAC (LTM) 1,777 • Adjusted EBITDAC margin of 24 1,705 505 1,648 1,637 1,612 percent, down by 0.4 pp YoY, driven by higher UAC 409 385 • Gross margin improvement of 2.0 365 358 pp YoY • Staff costs as a percentage of net 29% revenue down by 1.4 pp YoY 25% 24% 25% 24% 24% 24% 24% 2
Slide 5: Bookings, bookings by channel, MPU & ARPDAU, MAU & DAU
Bookings Bookings by channel 1,627 1,661 1,632 1,586 1,513 13% 13% 14% 13% 14% 28% 29% 29% 33% 33% 59% 58% 56% 53% 53% • Bookings in active portfolio declined by 5 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 percent YoY, and organically by 1 percent Bookings (MSEK) 3rd party stores %
Slide 6: Strategy bookings and UAC
Bookings & UAC Strategy bookings by channel 588 578 2% 1% 2% 1% 1% 542 488 472 34% 35% 38% 44% 47% 32% 27% 28% 20% 64% 64% 16% 61% 55% 52% › Lower bookings in Strategy driven by Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 seasonality QoQ and by decreased UAC Bookings (MSEK) UAC, % of
Slide 7: Sim, RPG & Actions bookings and UAC
Bookings & UAC Sunshine Island bookings & 475 UAC 421 384 401 375 78 62 42% 47 47 40% 43 42 33% 31% 24% 28 22 › Lower Sim, RPG & Actions bookings QoQ Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'23 Q1'24 Q2'24 Q3'24 › Sunshine Island user acquisition spend Bookings (MSEK) UAC, % of Bookings Bookings (MSEK) UAC
Slide 8: Casual & Mashup bookings and UAC
Bookings & UAC Jawaker bookings by quarter 661 662 669 666 638 Stillfront acquisition 38% 37% 33% 28% 29% › Bookings were flat sequentially and Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 increased by 1% YoY in Casual & Mashup Bookings (MSEK) UAC, % of Bookings Q3'21 Q3'24 › Super Free’s Word franchise continued
Slide 9: Free cash flow & Capex
MSEK Q3 2024 Q3 2023 Free cash flow & Capex LTM (MSEK) Cash flow from operations (before NWC) 383 399 2,000 Change in net working capital 74 -4 1,777 1,800 Cash flow from operations (CFFO) 457 395 1,638 1,565 1,600 1,499 1,434 Cash flow from investment activities -161 -387 1,400 836 Cash flow from f
Slide 10: Net debt & leverage ratio, maturity profile
Net debt & leverage ratio Maturity profile 1,039 895 877 857 1,381 807 517 515 496 528 498 2.15 2.08 1.88 1.95 1.84 4,388 4,507 4,247 4,115 4,115 678 2,369 1,000 1,000 Q3'23 LTM Q4'23 LTM Q1'24 LTM Q2'24 LTM Q3'24 LTM H2'24 H1'25 H2'25 H1'26 H2'26 H1'27 H2'27 H1'28 H2'28 Net debt (MSEK) Cash earnout
Slide 11: New share repurchase program
• Stillfront’s cash flow generation and strong balance sheet enable us to launch another share repurchase program • The repurchased shares will be used to cover parts of the equity component of Stillfront’s earnout provisions for coming years and the total program amounts to up to 40 MSEK • Stillfro
Slide 12: Outlook and optimization program
• Unusually long seasonal slowdown that was mentioned in the last quarter has driven lower activity levels across our games • High UAC spend in the third quarter with UAC as a share of bookings reaching 29 percent, affecting EBITDAC negatively short term, but largely compensated with higher gross pr
Slide 13: Capital Markets Day February 6, 2025
On February 6, 2025, Stillfront will host a Capital Markets Day in Stockholm, Sweden. The event will also be streamed live for those who cannot attend in person. The afternoon event will feature updates on the company's recently announced optimization activities. Presentations from the CEO, CFO, and
Slide 14: ID Stillfront
ID Stillfront