Jumpgate AB: Year-End Report and report for the fourth quarter for January 1, 2024 to December 31, 2024

• Net turnover in the period amounted to 68 100 TSEK (52 075 TSEK). Net turnover in the fourth quarter amounted to 14 135 TSEK (19 685 TSEK).

• Earnings before interest and taxes (EBIT) amounted to -7 879 TSEK (-29 869 TSEK). Earnings before interest and taxes (EBIT) in the fourth quarter amounted to -4 188 TSEK (-15 904 TSEK).

• The result after financial items amounted to -16 949 TSEK (-34 079 TSEK). The result after financial items in the fourth quarter amounted to -5 604 TSEK (-14 509 TSEK).

• The result per share amounted to -1,523 SEK (-0,073 SEK) in the period. The result per share in the fourth quarter amounted to -0,516 SEK (-0,032 SEK).*

• On November 18, FATE: Reawakened was announced for PlayStation, Xbox and Nintendo Switch. Jumpgate has participated in the development project for the game through work-for-hire for Gamigo.

• On December 19, it was announced that the Board of Directors of the Company had resolved to do a directed conversion share issue of 114 393 shares to ATO Consulting GmbH, Daniel Kuhn and Stephan Reichart at a subscription price of 6 SEK per share. The conversion is for debt comprising ca 0.7 MSEK.

• After the period, on February 27, it was announced that the game studio Tableflip Entertainment is being divested to the studio management and that the Board of Directors has resolved to execute a substantial cost savings program.

The "Company" or "Jumpgate" means Jumpgate AB with corporate registration number 556842-4062. Information in parentheses relate to the previous year.

*The numbers have NOT been adjusted to reflect the reverse share split 100:1 in the Company with effect as of Oct 2, 2024.

Comment to the Year-End Report

CEO Comment

Increased Turnover and reduced losses compared with the previous year

The past year provided significant improvements of key figures compared with the previous year on the back of increased turnover and reduced costs. The net turnover amounted to 68.1 MSEK 2024, an increase of more than 30 % compared with 2023. The EBIT result amounted to -7.9 MSEK 2024, a significant improvement compared with -29.9 MSEK 2023. The result after financial items was also significantly improved 2024 with -16.9 MSEK compared to -34.1 MSEK 2023. Furthermore, the result for the fourth quarter was significantly stronger compared to the previous year, despite a decreased net turnover.

Continued focus on cost savings

The goal and expectation was to close an additional deal for an externally financed game project in the end of the fourth quarter, where Tableflip Entertainment was meant to have a significant role. Unfortunately, the game market remains challenging and despite far advanced negotiations we were unable to close the deal. Thus, the Board of Directors have resolved to execute further cost savings, where the most important is the divestment of Tableflip Entertainment to the studio management for a symbolic consideration. Additionally, the staff is significantly reduced in the remaining group through a combination of expiring project employments and cancelled employment contracts, which together with the divestment of Tableflip bring down the total number of employees with ca 50 %.

Signed partner agreements for new game projects to unlock significant public financing

The German program for public funding of game development projects opened up for new applications in the end of 2024 and our studios have applied for funds for several new projects. It is satisfying to conclude that we have contracted matching partner financing amounting to ca 16.6 MSEK, which allows for a total financing of ca 30 MSEK, provided that the applications for public funding are approved. Furthermore, we are in evaluation processes for several potential larger work for hire projects. Additionally, we are working on securing a strong external IP and financing for our inhouse developed game with the project title Battle Castles.

Significant upside in coming releases

The work is continuing successfully with our three key game releases during 2025: gameXcite's Star Trek based game with the project name Galactic Journey, the kart racing game Ed & Edda: GRAND PRIX - Racing Champions, and a yet to be announced game, which will be published by THQ Nordic. All three projects have the potential to provide significant revenue streams from successful launches.

2024 was a year when we made great strides to turn the Company around. We have increased the turnover and reduced the costs, which has resulted in substantially lower losses compared to the previous year. Additionally, we have decreased the indebtedness significantly. In Q2 and Q3 we also achieved a positive EBIT result. With the above-mentioned substantial downsizing of the Company, we are positioning ourselves for profitability and with every week we come closer to the game releases of the year with potential to provide significant revenue and a strong result for 2025.

Harald Riegler

VD, Jumpgate AB 

About the Company

Jumpgate AB is an independent group of game development companies founded in 2011, comprising four game studios: Nukklear (Hannover), Tivola Games (Hamburg), gameXcite (Hamburg) and Funatics (Düsseldorf). The group develops and publishes its own games as well as developing games and other digital products for external companies. The companies in the group have established collaborations with strong industry partners and exciting product portfolios with large potential. The group is engaged in the global market, distributing games on a worldwide basis and has a large international network. For more information: www.jumpgategames.se

This information is such information Jumpgate AB (publ) is obliged to make public in accordance with the EU Market Abuse Regulation (MAR). The information was submitted for publication, through the agency of the contact persons set out above, at 2025-02-27 07:30 CET.

Jumpgate AB Year End Report Q4 2024
Jumpgate AB Interim Report Summary Q4 2024