Zordix AB (publ) Interim report Q1 2022

Net revenue for the quarter amount to MSEK 237, a very substantial increase from the corresponding period in 2021 mainly thanks to the acquisitions of Just For Games, Merge Games and Maximum Games that took place between Q2 and Q4 2021. The growth is driven by catalog sales, a benefit of the strong line-up of games released at the end of last year with Among Us Crewmate Edition and Kena Bridge of Spirits being the larger ones.

SUMMARY JANUARY– MARCH 2022

  • Net revenue amounted to 236,548 KSEK (754 KSEK)
  • EBITDA amounted to 21,724 KSEK (-2,489 KSEK)
  • EBIT amounted to -8,322 KSEK (-3,367 KSEK)
  • Operational EBIT amounted to 17,701 KSEK (-3,314 KSEK)
  • Cash flow from operating activities before change in working capital amounted to 27,402 KSEK (-2,488 KSEK)

SIGNIFICANT EVENTS DURING THE PERIOD

  • Christina Seelye, founder and CEO of Maximum Games has been appointed CEO of Zordix
  • Maximum Games acquired the IP rights to the game Them's Fightin' Herds® and the team of developers at Mane 6
  • Extraordinary General Meeting summoned for a resolution to amend the terms of warrants of series 2021/2023 and 2021/2024
  • 14 published games released by the Group with Five Nights at Freddy’s Security Breach, In Nightmare, Super Animal Royale, Bassmaster Fishing 2022, Monster Harvest and Andro Dunos 2 being the leading ones
  • Reorganization of the studios under one business unit to optimize use of talents

SIGNIFICANT EVENTS AFTER THE END OF THE PERIOD

  • Current Board member Stefan Lindeberg proposed as the new Chairman of the Board for the 2022 Annual General Meeting
  • Zordix decides on a new issue of 2,381,716 shares as partial payment of additional earn-out for the acquisition of Just For Games

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