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MAG Interactive experiences a remarkable 671,033% increase in Q1 EBITDA

In a recent Q1 interim report spanning from September 2023 to November 2023, MAG Interactive, the developer behind Wordzee, showcased an impressive surge of 671,033% in EBITDA. However, the same period witnessed a substantial 21% year-on-year decline in net sales, dropping from SEK 97.33 million ($9.3 million) to SEK 76.75 million ($7.33 million).

The dip in sales was primarily attributed to a decrease in investment opportunities for user acquisition (UA), posing a considerable challenge in acquiring new users and subsequently affecting overall revenue. The decline in daily active users was relatively minimal, decreasing from 1.2 million to 1.1 million, while monthly active users experienced a more significant drop from 3.5 million to 2.9 million. The total number of unique monthly players also decreased from 52,000 to 41,000.

MAG Interactive CEO Daniel Hasselberg linked the sales slump to the UA challenges, leading to a cascading effect on revenue. Despite these setbacks, the company remains optimistic about the future. MAG’s latest game, Crozzle, has shown promise during its soft launch, achieving robust Key Performance Indicators (KPIs). The company plans to soft launch several more games throughout the year.

On the financial front, the EBITDA witnessed an astounding growth of 671,033%, reaching SEK 20.13 million ($1.92 million) compared to a mere SEK 3,000 ($287) in the previous Q1. Operating profit (EBIT) also experienced growth, reaching 5,892 KSEK, presenting a much more profitable situation than the previous year.

MAG Interactive acknowledges the cyclical nature of quarterly fluctuations but remains committed to its long-term plan of achieving 500 MSEK of yearly revenues with a 20% EBIT margin. The company sees the improvement of player experience reflected in both time and money spent by players. MAG’s popular game, QuizDuel, has shown significant improvement, and with the optimism surrounding Crozzle and future game launches, MAG Interactive anticipates an exciting year ahead.

Source: adapted from an article by Aaron Astle, News Editor for

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