• Net sales amounted to MSEK 66.4 (MSEK 55.7), an increase of 19%.
• EBITDA amounted to MSEK 10.1 (MSEK 2.7), an increase of 278%.
• EBIT amounted to MSEK 4.2 (MSEK 1.2), an increase of 239%.
• Profit before tax amounted to MSEK -5.7 of (MSEK 0.5).*
• Cash flow from operating activities before changes in working capital amounted to MSEK 2.5 (MSEK 2.6).
• Cash and cash equivalents amounted to MSEK 57.7 (MSEK 41.5), and in addition, the company has an unutilized overdraft facility of MEUR 25.
• Earnings per share during the quarter amounted to SEK -0.2(SEK 0.0).

* The negative result is attributable to the company's increased interest costs linked to the bond and increased amortization.

CEO-Comment
EBITDA Increases 278% - The Best Ever in the First Quarter

The first quarter ended strongly after a weak start, and overall, we made one of the best first quarters ever with an EBITDA growth of 278% and strong underlying cash flow from ongoing operations. Despite a continued volatile advertising market, especially at the beginning of the year, we have witnessed growth in all assets during the latter part of the quarter for the first time since the COVID period. We see particularly positive revenue trends from our app, Porofessor, and the YouTube network UFG. The second quarter has started strong across the entire asset portfolio.

The gaming industry has experienced weak development during 2023 and into the start of 2024. Globally leading video game companies like Riot and Activision Blizzard have announced layoffs for many employees, we have seen few new game releases, and notably, our direct competitors are really struggling. Against this backdrop, I am incredibly proud of how M.O.B.A. delivers both operationally and financially, which is also a great testament to the fact that we are working from the right business model with a clear focus on creating growth within our operational areas.

First Quarter - Financial Overview
Revenues amounted to 66.4 MSEK (55.7), which means revenues increased by 19.3 percent compared to Q1 2023, and EBITDA amounted to 10.1 MSEK (2.7), an increase of 278 percent. We are also proud of a robust cash flow from ongoing operations of 10 MSEK (-3 MSEK) during the period.

High Operational Activity Yields Results
Operationally, the first quarter was intense on several fronts, and we intensified the development of our new Valorant product, which is planned to be launched shortly. We have also had very high activity in our YouTube network UFG, where we have entered an intensive growth phase together with our partner. During the second half of the quarter, this led to a significant net inflow of new important creators with a positive impact on our revenues, making UFG also show growth and improved profitability. The increased inflow of new creators during the first quarter has contributed new revenues that on an annual basis, Annual Recurring Revenue (ARR), amount to $6.7 MUSD.

Our portfolio of community sites increased revenues by 38% compared to the first quarter of 2023. We also have a high level of operational activity in this business segment, in line with what has previously been communicated, where we place great focus on increasing the quality of traffic acquisition. From the end of the second quarter, the operational focus will be strengthened by expanding the management team with a dedicated COO role.

The Porofessor App - Expanded Investments in App Development Projects
In-game advertising is now the hottest trend in the industry, and we are strong in this area. Our commitment to this dynamic arena demonstrates our ability to follow and lead market trends and create value for users, advertisers, and other stakeholders. M.O.B.A. has strategically decided to increase its investments in projects related to app development with in-game advertising as the primary revenue model. The decision results from the strong growth of the in-game app Porofessor and an assessed positive market outlook for the coming years, supported by external market analyses.
During the quarter, Porofessor reached the new and fantastic milestone of 13 million downloads.

As previously communicated, the group is developing a new in-game app with an associated community for the popular game Valorant, developed by the global game studio Riot, with a planned launch and integration into the company's portfolio during the first half of 2024. Additional in-game apps are planned to be developed and released after this launch.

Strong Start to the Second Quarter
The strong end to the first quarter is holding up during the first half of the second quarter, and revenues are steadily improving.

Strengthening the Organization
M.O.B.A. is undergoing organizational development and strengthening of the group management, which is natural as we grow and goes hand in hand with the strategy we have set for the company moving forward. We have long been a small and efficient team, and with additional strength and competence in the company, I look forward to continuing to develop the company as COO.

This will be my last report as I hand over the CEO role to Anders Ribbing, who takes office on June 3, and I will then take a comprehensive focus on operations in the role of COO. Moving forward, we have much to accomplish and an asset portfolio with all the possibilities for continued strong growth with good underlying profitability. I want to take this opportunity to thank the entire M.O.B.A. team, who all contribute to the company’s development and fantastic corporate culture, and the owners and partners who have supported the company during my time as CEO!

CEO – Björn Mannerqvist, 15th May 2024

Significant events during the period 1 January – 31 March 2024, in brief

• The company made the strategic decision to increase its investments in app development projects with in-game advertising as the primary revenue model. This decision followed the strong growth of the in-game app Porofessor and a projected positive market outlook for the coming years, which is also supported by external market analyses.As previously communicated, the company is developing a new in-game app and community for the extremely popular game Valorant, developed by the game studio Riot, with a planned launch and integration into the company's portfolio in the first half of 2024. Additional in-game apps will follow after this launch.
• The company has appointed Anders Ribbing as the new CEO, as part of the previously communicated strategic review. Anders will assume the role on June 3 24, 2024. Björn Mannerqvist, who has successfully led the company as co-founder and CEO, will continue to contribute to M.O.B.A.'s success in the role of COO. Anders Ribbing comes from a role as Chief Commercial Officer (CCO) at Everysport Group AB (publ) and has extensive experience successfully leading businesses based on digital products and services. Anders has held many key roles at major companies such as the TV4 Group and has also worked as a strategy consultant, CEO, and entrepreneur with successful exits behind him. Anders is well acquainted with the company's current business model and has broad experience in evaluating and applying new business models. In his new role as COO, Björn Mannerqvist will focus on optimizing the company's SEO and AI initiatives, as well as working on the existing business and new growth projects.

Significant events after the period 1 January – 31 March 2024

• On April 26, 2024, the group held its annual general meeting. The meeting resolved to approve the income statement and balance sheet, the consolidated income statement and balance sheet, and the allocation of the company's profit according to the adopted balance sheet. The meeting resolved to discharge the members of the board of directors and the CEO from liability. The re-election of board members Maria A. Grimaldi and Manfred Gottschlich, and the election of new member Mikael Gottschlich, were approved. Jonas Bertilsson was elected chairman. Fredrik Burvall and Henrik Henriksson declined re-election. Authorization was given to issue shares for a potential earn-out to the seller of Wargraphs S.A.S.