MAG Interactive AB (publ) publishes Interim Report September - February 2022/2023
STOCKHOLM, March 29, 2023 /PRNewswire/ -- MAG reached its highest Q2 revenue yet; net sales increased 25% to 96 MSEK, and ARPDAU grew 32% compared to the same quarter last year.
Summary of the period December 2022 – February 2023:
Comment from the CEO in summary
"Revenues are up 25% relative to the same period last year, making it our highest Q2 revenues to date. Compared to Q1 the revenues are stable in SEK but slightly up in USD. The fact that revenues remain stable in Q2, while user acquisition (UA) investments are about 10 MSEK lower, shows that UA investments in prior quarters are contributing to this quarter's revenues in a significant way.
"For an outside observer of our business, it can be valuable to see how quickly profitability bounces back when UA investments do not sequentially increase. The EBITDA margin in Q2 was 10%–compared to 0% in Q1–and, given the current pace of investments in UA, we expect the margins to continue to improve. Our cash position has grown since Q2 last year, while concurrently growing the revenue base significantly through investments in UA.
"Our daily active users (DAU) increased by 8% relative to Q1. This is partly thanks to the growing DAU of Wordzee driven by UA and partly thanks to increasing downloads and improved retention of QuizDuel.
"Relative to last year's Q2 the DAU is down by 15%, following the pattern of fewer, but higher quality players coming in from UA as described in previous quarterly reports. Connected to the improved user quality we continue to see a year-over-year increase in IAP revenues by 55%, and the average revenue per daily active user (ARPDAU), which is up 32%.
"We continue to be excited about the potential for our new games and hope to share more news regarding their development during Q3. The multiplayer word game mentioned in the Q1 report continues to develop in a good direction with stronger metrics with every market test release.
Summary of the period September 2022 – February 2023 (6 months):
Presentation & Report
On March 29th at 08:00 CET, a recording of CEO Daniel Hasselberg and CFO Magnus Wiklander's presentation of the Q2 Interim Report will be published on MAG's Youtube channel: https://www.youtube.com/@maginteractive. The presentation is held in English. Daniel Hasselberg will 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 March 29, 2023.
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SOURCE MAG Interactive