MindArk PE AB (publ) ("MindArk", the "Company") hereby announces that the Company's interim report for Q3 2024 has been published. Comment from acting CEO Leif Evander Andersson: "We have closed the books for a quarter that has been relatively calm in terms of content releases, which has been reflected in a certain revenue shortfall. At the same time, we have been working intensively on events planned for Q4 and the turn of the year. We know from experience that content releases and events tend to act as revenue catalysts, but we must also be cautious about how frequently such content is released to avoid oversaturating Entropia Universe and its users. During the third quarter of 2024, we have recruited new talent to our marketing team to enhance organic growth. Moving forward, we will work more methodically and strategically to attract new players. These players, in turn, can expect a significantly smoother onboarding process, as we have now integrated AI functionality into the NPCs that guide new users. We believe this will lead to substantial improvements in both acquisition costs and retention rates for new users. I also want to highlight that, although the third quarter did not deliver impressive results, we remain well-capitalized with a strong balance sheet and no external loans. This solid foundation makes us resilient to occasional revenue dips, allowing us to continue future-proofing Entropia Universe through innovation and forward-thinking initiatives." Reporting period The report covers the period July 1 – September 30, 2024 (“Q3”) and January 1 – September 30, 2024. July 1 – September 30, 2024 Group figures. Comparative figures in parentheses refer to the same period last year. Turnover amounted to 19.4 MSEK (22.9 MSEK) Work in progress amounted to 5.4 MSEK (6.1 MSEK) Operating profit amounted to -87 TSEK (1.8 MSEK) Profit before tax amounted to 1.1 MSEK (1.7 MSEK) Cash & cash equivalents including short-term investments 33.6 MSEK No interest-bearing liabilities Provision for unconsumed user holdings 32.5 MSEK Earnings per share for the period amounted to 0.05 SEK (0.07 SEK) January 1 – September 30, 2024 Group figures. Comparative figures in parentheses refer to the same period last year. Turnover amounted to 66.9 MSEK (75.7 MSEK) Work in progress amounted to 15.4 MSEK (21.4 MSEK) Operating profit amounted to 6.5 MSEK (-5.5 MSEK) Profit before tax amounted to 6.9 MSEK (-7.5 MSEK) Cash & cash equivalents including short-term investments 33.6 MSEK No interest-bearing liabilities Provision for unconsumed user holdings 32.5 MSEK Earnings per share for the period amounted to 0.13 SEK (-0.29 SEK) Significant events during Q3 No significant event has occurred during the quarter. Significant events after the end of the reporting period The liquidation of all subsidiaries has been completed according to plan. ... Auditor This financial statement has been reviewed by the Company’s auditor. Financial calendar Interim Report Q4, 2024 February 28, 2025 Annual Report 2024 March 26, 2025 Annual General Meeting 2025 April 16, 2025 Interim Report Q1, 2024 May 28, 2025 This disclosure contains information that Mindark PE AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 28-11-2024 08:00 CET.
