• Net turnover in the period amounted to 13 648 TSEK (16 400 TSEK).

• Earnings before interest and taxes (EBIT) amounted to -5 612 TSEK (-7 676 TSEK).

• The result after financial items amounted to -5 950 TSEK (-10 976 TSEK).

• The result per share amounted to -0,519 SEK (-2,281 SEK) in 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.

• On February 27, it was announced that Jumpgate had executed partner agreements regarding matching external financing for three publicly partially financed game projects with a total value of ca 30 MSEK, subject to the applications for public funding being approved.

• After the period, on April 30, it was announced that Jumpgate game Grand Prix of Europe is ready for launch in the end of July 2025 and that the Steam-, Xbox- and Play Station versions of the game were approved by the platform owners.

• After the period on May 7, it was announced that the Company had entered into loan agreements for a total of ca 13.6 MSEK (of which ca 4.9 MSEK is refinancing of existing debt), proposes a directed issue of warrants to the lenders and resolves to carry out a rights issue of ca 10.2 MSEK.

• After the period on May 7, the Company published its Board of Directors´ view on the potential of the future sales from the three game releases being planned for the second half of 2025. The view is based on the first 12 months of revenue following launch of each respective title, taking into account that the releases take place at different times and that the revenues therefore will accumulate over time, and comprises an interval of between 14 MSEK and 51 MSEK.

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

Comment to the Interim Report

Improved result compared with the previous year

The first quarter offered no surprises and came in as expected in line with the previous quarter. The EBIT result was significantly improved compared with the previous year from -7.7 MSEK to -5.6 MSEK, an improvement of ca 27 %. Also, the result after financial items was improved from -11 MSEK to – 6 MSEK, corresponding to an improvement of ca 46 %. As a result of the Company´s cost savings program, the operating expenses decreased with ca 13 % from 23.9 MSEK the previous year to 20.9 MSEK. To return to a positive result, increased revenue is required, which are expected to come from new externally financed game projects followed by revenue from game releases in the second half of 2025.

Significant public financing available for new game projects

As previously communicated, 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. We have contracted matching partner financing amounting to ca 16.5 MSEK, which allows for a total potential financing of ca 30 MSEK, and we expect to be able to communicate the outcome of the applications shortly. In addition to this, we are in dialogues and evaluation processes for several larger potential work for hire assignments, which would contribute with substantial revenue in case of a positive outcome. The work also continues on securing a strong external IP and financing for our inhouse developed game with the project title Battle Castles.

Financing positions the Company to capitalize on coming game releases

To add working capital and partially refinance current debt, loans have taken on amounting to ca 13.6 MSEK and a resolution has been put forward to the Annual General Meeting to issue warrants to the lenders (the lenders are entitled to set off their claims towards the exercise proceeds for the warrants, in effect making the loans convertible). The interest is lower compared to the previous loans of the Company and is not paid out until the end of the term of the loan on Dec 31, 2026 which has a positive effect on the cash flow. To allow all shareholders the possibility to participate in the financing, the loan is followed by a rights issue in June with the same subscription price as the exercise price for the warrants.

Through the above we position ourselves to execute the three key releases of the year, all planned for the second half of the year. As previously communicated, the Board estimates that the three releases in aggregate may contribute significant revenue to Jumpgate in an interval of 14-51 MSEK based on three scenarios during the first 12 months of each respective release.

First out of the gate of the three releases is the kart racing game Ed & Edda: GRAND PRIX - Racing Champions which is now completed and approved by the distribution platforms ahead of the release in the end of July. Thereafter follows the remaster of a yet to be announced game to be published by THQ Nordic and afterwards gameXcite´s Star Trek based game with the working title Galactic Journey.

We now work focused on signing new deals for externally financed game projects and continue to add to our pipeline of internally developed and externally financed game projects assisted by financial partners and public financing.

Harald Riegler
CEO, Jumpgate AB