Comment from acting CEO Leif Evander Andersson: "We have closed the books for a quarter that has been relatively calm in terms of content releases, which has been reflected in a certain revenue shortfall. At the same time, we have been working intensively on events planned for Q4 and the turn of the year. We know from experience that content releases and events tend to act as revenue catalysts, but we must also be cautious about how frequently such content is released to avoid oversaturating Entropia Universe and its users.
During the third quarter of 2024, we have recruited new talent to our marketing team to enhance organic growth. Moving forward, we will work more methodically and strategically to attract new players. These players, in turn, can expect a significantly smoother onboarding process, as we have now integrated AI functionality into the NPCs that guide new users. We believe this will lead to substantial improvements in both acquisition costs and retention rates for new users.
I also want to highlight that, although the third quarter did not deliver impressive results, we remain well-capitalized with a strong balance sheet and no external loans. This solid foundation makes us resilient to occasional revenue dips, allowing us to continue future-proofing Entropia Universe through innovation and forward-thinking initiatives."
Reporting period The report covers the period July 1 – September 30, 2024 (“Q3”) and January 1 – September 30, 2024.
July 1 – September 30, 2024 Group figures. Comparative figures in parentheses refer to the same period last year.
January 1 – September 30, 2024 Group figures. Comparative figures in parentheses refer to the same period last year.
Financial reports The Company's financial statements, including the forthcoming report, are available on the Company's website, www.mindark.se/investor-relations/financial-reports/. It is available in a Swedish and an English version.
This disclosure contains information that Mindark PE AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 28-11-2024 08:00 CET.
Gunilla Krogh CFO, MindArk PE AB (publ) [email protected] Tel: +46 31 607 260 MindArk PE AB (publ) Org. nr. 556640-4769 Masthamnsgatan 5 413 29 Gothenburg www.mindark.com
MindArk PE AB (publ) (“the Company” or “MindArk”) develops and operates Entropia Universe, the world's first MMORPG (Massive Multiplayer Online Role-playing Game) with a “Real-Cash-Economy”, and Entropia Platform. Entropia Universe is a virtual universe consisting of a number of planets with different themes and activities. The software is provided globally and free of charge with the possibility to spend money in the virtual universe for anyone with access to PC and the internet. Entropia Universe consists of a digital economy where resources, materials, land, and buildings are represented as digital assets with an underlying base value. Entropia Platform is the technology platform that powers Entropia Universe. The platform is shared with partners who develop their own unique game content for their planets in Entropia Universe.
