Revenue increases by 34% in Q3 compared to the same quarter the previous year
Summary of the period March 2019 – May 2020:
Comment from the CEO in summary
“Q3 revenue amounted to SEK 65 million, an increase of 34% compared to the same quarter the previous year. This is the highest turnover in a quarter for MAG since the company went public. Compared to Q2, revenue grew by 28% with the combination of several positive factors leading to the rapid growth. The EBITDA in Q3 lands at MSEK 3.4 compared to MSEK 0.5 during the same quarter the previous year.
As noted in connection with the Q2 Interim Report on April 1st, we saw a significant increase in the number of downloads during March, a direct effect of many countries shutting down due to the COVID-19 pandemic. The large influx of players was mostly evident in our most established games Ruzzle and QuizDuel and has continued to yield positive effects in April and May. Organic growth has generated substantial surpluses in that part of the portfolio during Q3.
During the quarter, we had the opportunity to increase the investment in user acquisition for our most recently launched games, Wordzee and New QuizDuel, which led to increased turnover in that part of the portfolio as well. The cost of user acquisition amounted to SEK 26 million in the quarter, which is SEK 12 million more than in Q2. We see increased investment in user acquisition as something fundamentally positive as it lays the foundation for future growth and profits.
With a strong quarter behind us, we now look forward with excitement to how New QuizDuel and Wordzee will continue to develop during 2020 and beyond”, says Daniel Hasselberg, CEO of MAG Interactive.
Summary of the period September 2019 – May 2020 (9 months):
Presentation & Report
On June 30th, 2020 at 10:00 CET, CEO Daniel Hasselberg and CFO Magnus Wiklander will present the Interim Report live on Twitch. The presentation will be held in English. Link to the Twitch feed here www.twitch.com/maginteractive. Daniel Hasselberg will also take questions on Twitter during the course of the day, write to @d_hasselberg or @maginteractive. For more information and to read the full report please visit https://www.maginteractive.com/investors/investor-relations/reports/.
This is information that MAG Interactive AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out below, at 08:00 on June 30th, 2020.