Qiiwi Games AB (publ) (QIIWI) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello everyone and welcome to the QVGames presentation and the first quarter of 2025. My name is Erik Dahlrenberg, CEO and CEO of QVGames. We go through the quarter on a number of slides. We will also have participants from Daniel Svensson, Head of New Games, and Marcus Dahle, who is responsible for Live Operations and is CTO at Kiwi Games. And after that, we have a Q&A question time where it is possible to ask questions to the company where we answer what we have the opportunity to answer. And we start. If we look at the first quarter, we sum up that we have had a high efficiency in the organization, but that Backpacker Go does not really reach the whole way. During the quarter, we have Backpacker Go has been our main focus in connection with the fact that the global launch started at the end of December. I will talk more about the outcome of the launch so far and how we have worked with the game title. During the quarter, we have since allocated more resources to New Games. so that we can quickly develop more game ideas and so that it is possible to achieve greater scalability than what we have so far seen from the results of Backpacker Go. If we look at our EBITDA result, we achieve an improved EBITDA result compared to the previous year with about 1.4 million SEK. We still have a negative result of 1.6 million SEK. And we can see in the graph that we have a sequentially reduced EBITDA compared to Q3 and Q4 of 2024. And that we have a reduced GDP is mainly due to the fact that we have launched Backpacker Go, where we have increased the marketing investments and that these investments have not met the expectations that we had hoped for. We see A sequentially increased turnover from the gaming industry is also related to the launch of Backpacker Go. On the other han...