COPENHAGEN, November 24, 2022: 5th Planet Games A/S (OAX: 5PG) is pleased to declare profitability in Q3 2022 with a positive EBITDA of DKK 459.000 for the quarter.
Furthermore 5th Planet Games A/S is showing YoY improvement on all core financial metrics, both for Q3 2022 alone and also on the Q1-3 2022 combined result.
By the end of Q3 we had a cash position of DKK 41m with a future guaranteed cash inflow of another DKK 22m to reach a total cash position of DKK 63m, this puts in a position to execute on our strategy.
Out of a total revenue of DKK 6.7m in Q1-3 2022, almost DKK 4.4m in Q1-3 2022 revenue comes from Before Your Eyes royalties. On top of this, we have signed new co-financing for Escape Academy (already released), WrestleQuest (to be released in 2023), VICE NDRCVR (to be released in 2023) and the recently announced new game based on The Walking Dead IP.
Looking into the next 3 month, the most significant events are the financial performance of Before Your Eyes and Escape Academy together with expected signing of more co-financing agreements.
Highlights:
- EBITDA positive in Q3 2022 with DKK 459k, which is an improvement of DKK 2.0m from DKK -1.6m in Q3 2021.
- Revenue Q1-3 2022 was DKK 6.7m, which is 225% higher than DKK 2.1m in Q1-3 2021.
- EBITDA Q1-3 2022 was DKK -0.7m, which is an improvement of DKK 7.5m from DKK -8.2m in Q1-3 2021.
- Cashflow positive Q1-3 2022 by DKK 27.4m, which is an improvement of DKK 34.8m from DKK -7.4m in Q1-3 2021
Guidance 2022:
- Revenue maintains guidance of DKK 10m to 20m (mainly from Before Your Eyes and Escape Academy) for the full year of 2022.
- EBITDA guidance is also maintained of a level between DKK +0.1m to +2.0m for the full year of 2022 as we expect to deliver a positive EBITDA in Q4 2022.
About 5th Planet Games:
5th Planet Games is a video games publisher located in Copenhagen, active in games across all global platforms and devices. It has a long and successful history of working with established brands and strong IP. Now, in partnership with Skybound Entertainment, the company will extend access to compelling, global IP such as The Walking Dead.