• Net turnover in the period amounted to 30 389 TSEK (53 966 TSEK). Net turnover in the third quarter amounted to 5 468 TSEK (19 115 TSEK).

• Earnings before interest and taxes (EBIT) amounted to -11 342 TSEK (-3 691 TSEK). Earnings before interest and taxes (EBIT) in the third quarter amounted to -4 339 TSEK (2 355 TSEK).

• The result after financial items amounted to -15 009 TSEK (-11 345 TSEK). The result after financial items in the third quarter amounted to -5 408 TSEK (1 546 TSEK).

• The result per share amounted to -1,042 SEK (-1,017 SEK) in the period. The result per share in the third quarter amounted to -0,365 SEK (0,121 SEK).

• On July 1, the outcome of the Company´s rights issue was announced with a subscription rate of 46.9 %. Through the share issue, the Company received ca 3.3 MSEK before transaction costs after conversion of debt amounting to ca 1.5 MSEK.

• On July 24, it was announced that the game Ed & Edda: GRAND PRIX – Racing Champions was released on PC, Sony PlayStation 5, Xbox X|S and Nintendo Switch.

• On July 28, it was announced that the Company had extended the agreement with Professionel Bull Riders regarding rights for the game 8 to Glory.

• On August 5, it was announced that the Company had executed a second tranche of the loan amounting to 2.6 MSEK and resolved to issue free warrants to the lenders,

• On August 8, it was announced that the Company is developing a remaster of Sacred 2 in collaboration with THQ Nordic.

• On August 13, it was announced that the Company had received a payment of 2.2 MSEK for an achieved sales milestone for a work-for-hire project and that subsidiary Funatics had signed a new work-for-hire agreement with a contract value of 5 MSEK.

• On September 17, it was announced that the trailer for the Company´s upcoming game Star Trek: Voyager – Across the Unknown had reached ca 1.5 million views on YouTube.

• After the period, on October 13, it was announced that Sacred 2 Remaster will be launched on November 11, 2025.

• After the period, on October 15, it was announced that the demo for Star Trek: Voyager – Across the Unknown had been released on Steam and that it had reached the top 10 list over most played demos at Steam Next Fest and had ca 87% positive reviews.

• After the period, on November 11, it was announced that Sacred 2 Remaster is now available for PC (Steam), PlayStation 5 and Xbox Series X|S, with a version for Nintendo Switch planned for mid-2026.

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

Decreased revenue and reduced cost base

Due to the downsizing of the group since the previous year with the divestment of Tableflip Entertainment and additional significant layoffs, we keep comparing the quarterly results with the previous quarter to show the development in the current setup of the Company.

The third quarter shows decreased operating revenues compared with the previous quarter from SEK 15.5 million to SEK 8.3 million. The main reason is the completion of Sacred 2 Remaster, without adding any larger project during the quarter. Additional cost reductions have lowered the operating expenses from SEK -16.9 million to SEK -12.7 million compared with the previous quarter, but due to the negative development of the revenue, the operating profit was worsened from SEK -1.4 million to SEK -4.3 million. Financial costs were half compared with the previous quarter from SEK -2.2 million to -1.1 million. In aggregate, this resulted in a result after financial items which was worsened from SEK -3.7 million to SEK -5.4 million.

As previously communicated, increased revenue is necessary for the Company to turn back to a positive result. The goal is to achieve this as quickly as possible based on successful business development and a positive launch of the coming Star Trek game. With our network and the current access to competent developers, we have capacity to rapidly scale up the business again on the back of new externally financed projects.

Continued focus on business development

Focus remains on obtaining additional work for hire deals and external financing of internally developed game projects to increase revenue. During the period, the subsidiary Funatics have obtained a development contract with a contract value of ca SEK 5 million until end of December. We keep working on external financing for the game project Battle Castles and are in promising dialogue with potential publishers about financing. Additionally, we are investigating the possibilities to secure the rights for a suitable IP for the game. Furthermore, parallel dialogues are ongoing with potential partners for additional projects with the goal to sign at least two new deals before the end of the year and to extend the current work for hire assignment for Funatics.

Sacred 2 Remaster

The game Sacred 2 Remaster was released on November 11 and was initially one of the 20 bestselling games on Steam. Unfortunately, the reception from the players was weighing on the negative side, due to unexpected technical issues. These problems had not been identified by internal or external QA ahead of the release. The team is working hard to solve the issues and after initial updates the rate of positive reviews on Steam is increasing steadily. As previously communicated revenue from sales will only be obtained by Jumpgate after the external financers of the game have received a predetermined level of return, which means that we don´t expect any revenue from Sacred 2 Remaster during 2025.

The release of Star Trek: Voyager – Across the Unknown is approaching

After being very positively received by industry media, community forums and fans in connection with the announcement of Star Trek: Voyager - Across the Unknown at Gamescom and more than 1.5 million views on Youtube for the first game trailer, a demo of the game was published on Steam in mid-October. The demo reached the top 10 list for most played demos at Steam Next Fest and has +80% positive reviews on Steam. The number of wishlist signups on Steam is increasing steadily. Jumpgate partakes in the sales revenue from the game from the beginning which gives us a significant upside from the sales. The launch date is expected to be established shortly by the project partners.

As previously communicated, the Board estimates that the launched games Ed & Edda: GRAND PRIX of Europe, Sacred 2 Remaster and the coming Star Trek: Voyager - Across the Unknown combined have the potential to generate revenues in the range of SEK 14–51 million during the 12 months following each release. There are no activated costs for Star Trek and Sacred 2 on the balance sheet, which is very positive for the impact of the game revenues on the result.

The organisation has been scaled down, and significant efforts have been made to reduce costs, which sets the stage for a substantial gearing up on the basis of a successful Star Trek launch and new work for hire assignments. The coming weeks and months will be important and exciting.

Harald Riegler
CEO, Jumpgate AB