Slide 1: Q2 2025 interim report
Q2 2025 interim report 30 July 2025 1
Slide 2: Presenters
PRESENTERS CHRISTOFFER KÄLLBERG, GROUP CEO PER ALNEFELT, GROUP CFO MATTHEW HOOPER, MODERATOR 2
Slide 3: Q2 Highlights
Q2 HIGHLIGHTS ▪ Admission of shares to trading on Nasdaq Stockholm on 25 June ▪ IPO oversubscribed several times and attracted strong interest from institutional investors globally & the public in the Nordic region operational Financial ▪ Closed large number of new deals in Q2, demonstrating ▪ Reven
Slide 4: New Game Releases
NEW GAME RELEASES 25 ▪ Pace of in-house game releases accelerated 20 from 3 to 4 per month in Q2, with total of 11 in-house games released in Q2, and 39 games released since end of Q2 2024 15 ▪ 11 third party studio games released on OpenRGS platform in Q2, and 34 games 10 released since end of Q2 2
Slide 5: In-House Developed Game Releases
IN-HOUSE DEVELOPED GAME RELEASES 3 April 17 April 24 April 8 May 22 May 30 April 29 May 5 June 12 June 19 June 26 June 5
Slide 6: 3rd Party Studios Active on OpenRGS Platform
3RD PARTY STUDIOS ACTIVE ON OPENRGS PLATFORM 6
Slide 7: Key Operational Performance Indicators
KEY OPERATIONAL PERFORMANCE INDICATORS AVERAGE DAILY NUMBER OF Rounds PLAYED (INDeXED) 300 262 250 236 ▪ 72% YoY increase in average number of daily 219 rounds played in Q2 200 183 152 150 122 100 100 50 0 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 GROSS GAMING REVENUE per game 14% ▪ Broadening of ga
Slide 8: Development in Number of Employees
DEVELOPMENT IN NUMBER OF EMPLOYEES FTE 200 150 ▪ Continued increase in FTEs as we scale the business 100 ▪ 185 FTEs at end of Q2 after 70% yoy increase 50 ▪ Emphasis on quality of culture and working environment in order to attract and retain the best talent 0 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1
Slide 9: Financial Highlights
FINANCIAL HIGHLIGHTS Revenue EURm 50 ▪ 53% YoY revenue growth to 45.4 MEUR 40 - growth in # of customers and deals 30 - growth in # of games 20 - growth in # of rounds played 10 0 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Adjusted* Operating profit EURm % 50 100 ▪ Adjusted* operating profit (E
Slide 10: Cash Flow & CapEx
CASH FLOW & CAPEX cash flow from operating activities EURm 80 ▪ Cash flow from operating activities up 30% 60 YoY to 25 MEUR 40 ▪ Changes in working capital fluctuate between quarters largely due to changes in VAT and 20 tax, including withholding taxes paid on dividends 0 Q2 24 Q2 25 H1 24 H1 25 ▪
Slide 11: Financial Position
FINANCIAL POSITION CASH and cash equivalents EURm 100 ▪ Healthy financial position with cash and cash equivalents of 53 MEUR at end of Q2 ▪ 106.3 (45.7) MEUR of dividends paid out in H1 75 ▪ No outstanding financial debt 50 ▪ 64% YoY increase in total asset base to 99.5 MEUR and 70% increase in tota
Slide 12: Long-Term Financial Targets & Capital Allocation Policy
LONG-TERM FINANCIAL TARGETS & CAPITAL ALLOCATION POLICY Revenue target ADJUSTED EBIT margin Capital allocation policy Annual growth above Maintain margin above Return at least 30% 80% 75% of net profit to shareholders through dividends and/or share buy-backs 12
Slide 13: Summary
SUMMARY ▪ Large and fast-growing underlying iGaming market ▪ Purpose-built proprietary technology platform ▪ Global reach via existing distribution network ▪ Robust and streamlined game development ▪ Strong corporate culture ▪ Fast growing, highly profitable, and cash generative 13
Slide 14: Q&A
Q&A 14