“The fourth quarter of 2025 was a period of mixed performance where we saw strong strategic progress and record gross margins, but also continued pressure on our top-line revenue,” said Vlad Suglobov, CEO of G5 Entertainment. “In USD terms, which better reflects the underlying performance of our business, revenue for the quarter decreased 9% year-over-year and 2.2% sequentially. In the first half of the year, we saw a decline of revenue in USD terms of 13.0%, and in the second half - a decline of 8.5%, so we believe we continue to see the slowing down of the decline and we work towards the strategic goal of stabilizing the top-line revenue. From the product perspective, there are three main pillars of our revenue generation with about equal share in the total revenue. One is our game Sherlock, another is our licensed game Hidden City, and the third is what we call Jewels family of games, consisting of six games which are managed by the same team. In the second half of 2025, we achieved progress in stabilizing the performance of Sherlock and Hidden City: in USD terms in Q4 Hidden City grew 8.4% sequentially from Q3. While Sherlock declined sequentially in Q4 by 5.2% after a strong development in Q2 and Q3, year-over-year it only declined by 5%, which is way less than before. Also, Sherlock was negatively impacted by specific events in November, but outside of November the game continued to perform better than previously. The growing sales through the G5 Store played an important role in the stabilization of Sherlock and Hidden City. 23.4% (16.0%) of the group’s gross revenue in Q4 was generated through the G5 Store, and in USD terms G5 Store grew 20% year-over-year. Group’s Gross Margin increased to a record 71.6% (69.1%) due to the growth of the G5 Store, and also because direct payment processing on mobile platforms, including through the web-shop, more than doubled from 3% in Q3 to 6.4% in Q4, as a percentage of total net revenue. If we are successful, 3rd party game distribution through G5 Store can become our fourth revenue pillar in the following quarters. While we are working on stabilizing our main game revenue streams, we are also finding opportunities to create new revenue streams through new games and new business opportunities. During the fourth quarter, a new game successfully cleared another stage of our Soft Launch process. Work is also ongoing on another promising new game in a new genre for G5 but a popular one for mobile players. This game should enter the early Soft Launch stage in the first quarter. Our teams are also making and testing about 6 new concepts every 4 months and we are excited to see what will come out of this initiative over time.”