MAG Interactive (MAGI) Q3 25/26 earnings summary

Executive summary

• Revenue grew 9% year-over-year in USD and 4% in SEK, driven by platform expansion, Crozzle, and improved monetization, with ARPDAU up 24%.

• Wordzee and Crozzle migrated to the new tech platform, enabling faster feature deployment and improved margins.

• Over 350 million downloads highlight strong global reach and user engagement.

• Portfolio stability maintained in older games, while new games and platform enhancements drive growth.

• Major product updates launched in Wordzee and QuizDuel; Crozzle fully migrated to the new tech platform.

Financial highlights

• Net sales increased 4% year-over-year in SEK and 9% in USD for Q3, despite currency headwinds.

• Adjusted EBITDA for Q3 was 13,401 KSEK, up 8% from the prior year, with margin pressure from higher UA spend.

• Cash balance at quarter end was 85 MSEK.

• ARPDAU reached $0.088 (8.8 US cents), up 24% year-over-year and flat sequentially.

• User acquisition costs increased 42% year-over-year for Q3.

Outlook and guidance

• Focus on scaling Crozzle and leveraging new platform features for growth in the next six months.

• Sustained higher UA volumes targeted to achieve SEK 500 million annual revenue and SEK 100 million profit.

• Expectation of positive impact from new Match-3 core in Wordzee, with results to be reported in Q4.

• Continued focus on scaling user acquisition guided by profitability models.

• Long-term ambition remains 500 MSEK annual revenue and at least 20% EBIT margin.