Fourth quarter October–December 2024

• Net revenue decreased 29.6 MSEK to 77.4 MSEK (107.0) compared to the same quarter last year.
• Operating profit (EBIT) decreased 76.2 MSEK to –631.5 MSEK (–555.2), corresponding to an operating margin of –815.5 percent (–519.0).
• Write-down of capitalised development cost amounted to 560.2 MSEK for the quarter, of which 444.0 MSEK was acquisition-related goodwill values.
• Adjusted EBITDA increased 7.1 MSEK to –10.8 MSEK (–17.9), corresponding to an adjusted EBITDA margin of –13.9 percent (–16.7).
• Adjusted EBITA increased 0.1 MSEK to –154.8 MSEK (–154.9), corresponding to an adjusted EBITA margin of –199.9 percent (–144.8).
• Profit & loss for the quarter amounted to –492.9 MSEK (–595.1), and for continuing operations –449.1 MSEK (–541.0).
• Earnings per share before and after dilution amounted to –7.01 SEK (–8.47), and for continuing operations –6.39 SEK (–7.70).
• Cash flow from operating activities amounted to 26.7 MSEK (300.0), of which discontinued operations amounted to –7.4 MSEK (489.2).
• Consolidated cash and cash equivalents together with unutilized credit facilities amounted to 150.2 MSEK (209.1) as of 31 December 2024.
• Thunderful has signed an agreement with Jumpship’s former owner, Dino Patti, for the transfer of all shares in Jumpship Limited. The company has also reached a settlement agreement regarding former seller claims on future earnouts in exchange for shares in Jumpship Ltd. According to the settlement agreement, Jumpship shall receive 752,6 TGBP from Thunderful, which corresponds to expected wind-down costs. Thunderful shall also waive all internal loans to Jumpship. The transfer of shares is conditional upon shareholder approval at the extraordinary shareholders’ meeting.

The period January–December 2024

• Net revenue decreased 91.7 MSEK to 292.8 MSEK (384.4) compared to the same period last year.
• Operating profit (EBIT) decreased 371.4 MSEK to –917.3 MSEK (–546.0), corresponding to an operating margin of –313.3 percent (–142.0).
• Write-down of capitalised development cost amounted to 659.3 MSEK for the period, of which 444.0 MSEK was acquisition-related goodwill values.
• Adjusted EBITDA decreased 150.6 MSEK to –41.3 MSEK (109.2), corresponding to an adjusted EBITDA margin of –14.1 percent (28.4).
• Adjusted EBITA decreased 287.4 MSEK to –383.9 MSEK (–96.5), corresponding to an adjusted EBITA margin of –131.1 percent (–25.1).
• Profit & loss for the period amounted to –887.5 MSEK (–629.8), and for continuing operations –665.5 MSEK (–579.6).
• Earnings per share before and after dilution amounted to –12.63 SEK (–8.96), and for continuing operations –9.47 SEK (–8.25).
• Cash flow from operating activities amounted to 241.3 MSEK (299.0), of which discontinued operations amounted to 343.6 MSEK (346.2).

Events after the end of the quarter
On February 10, 2025 the Thunderful shareholders approved the transfer of the Jumpship shares. Closing of the divestment is expected to be concluded shortly.
 
Webcast February 13, 2025, 09:00 CET
The Q4 report for 2024 is presented and thereafter there is an opportunity to ask questions. Questions can be posed in writing via the webcast. A recorded version of the presentation will also be available on Thunderful Group's website. The presentation will be held in English. The presentation will be moderated by Anton Hoof, analyst at Redeye.
 
To access the webcast, please click on the link below:
https://www.redeye.se/events/1067750/live-q-thunderful-group-3