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Swedish developer MAG Interactive celebrates another strong financial year

Net sales are up 14% from the company’s record-breaking 2021
Swedish developer MAG Interactive celebrates another strong financial year

Swedish developer MAG Interactive has released its Q4 and year-end report, showcasing the growth of the company over the past twelve months. (MAG Interactive, like many companies based in Sweden and elsewhere, begins the financial year in September).

The group’s net sales for Q4 (June 22-August 22) were $8 million, a 29 percent increase from Q4 2021.

Other operating income was $3 million, a sharp increase from just $58.3 thousand in the same period the previous year. The majority of this operating income comes from a $2.9 million write-down of the earn-out to Sventertainment AB. Game contribution for the period was $3.1 million, a 27 percent year-on-year decrease.

Active users were also down compared to the previous year’s report, with 1.3 million daily active users (a decrease of 21 percent) and 3.8 million monthly active users (a 30 percent decrease.)

“We are finishing off a financial year that saw us reach record revenues of 328 MSEK while also being profitable on a yearly basis,” said MAG Interactive CEO Daniel Hasselberg. “Our financial goals are to grow faster than the industry average and to work towards an EBIT margin of at least 20 percent. This financial year was another step in that direction with a 14 percent revenue growth and a full year of profitability.”

“During Q4 we generated an organic revenue growth of 29 percent on the back of high-performing User Acquisition (UA) combined with a favourable exchange rate to the USD compared to last year. The UA investment grew to 43 MSEK, reaching its highest level in several years.”

A year in review

Net sales for the entire financial year were $29.3 million, a 14 percent increase from $25.6 million the previous year. This includes a $1.3 million transfer bonus from AppLovin. Adjusted net sales were $28 million.

Other operating income for the entire year, including Q4, came to $3.4 million, showing that the majority of such income came during the year’s final quarter.

Throughout the financial year, the group’s game contributions came to $16.4 million, representing a 3 percent year-on-year increase.

Last quarter, MAG Interactive reported its highest ever revenue quarter.