INTERIM REPORT FOR THE FINANCIAL YEAR 2021Intensive development work was done on the new game form Multimaker in 2021. Rickard Riblom was appointed new CEO in the last quarter and Hans Richter was contracted as the new CFO. After that, work began on restructuring the company to achieve significantly reduced costs to achieve longer endurance at the same time as the company focuses on delivery speed. Adventure Box, the leading social cloud platform for consumer-created computer games, makes it easy and fun to create, share and play 3D games online.
QUARTER OCTOBER 1 - DECEMBER 31 IN SUMMARY
· The company's net sales during the quarter amounted to SEK 0 thousand (SEK 18 thousand)
· Net profit amounted to SEK -30,020 thousand (SEK -6,511 thousand)
· Earnings per share was SEK -1.99 (SEK -0.45)
· Net cash flow before financial items was SEK -5,399 thousand (SEK -5,888 thousand)
· The company's cash and cash equivalents amounted to SEK 29,565 thousand (SEK 57,490 thousand) at the end of the quarter
· The company's equity at the end of the quarter amounted to SEK 31,967 thousand (SEK 77,093 thousand)
· CFO Sofia Nilsson has decided to leave her current position in Adventure Box. Former CFO Hans Richter has been contracted as new CFO.
· The multimaker will be launched in January 2022, which is somewhat later than previously planned.
· The company is implementing changes to the organization, which will result in significant cost savings in 2022.
· Average customer acquisition cost (cost per purchased visitor) is unchanged compared to Q3 and landed at SEK 0.25 on average over the quarter.
PERIOD JANUARY 1 - DECEMBER 31 IN SUMMARY
· The company's net sales during the period amounted to SEK 1 thousand (SEK 133 thousand)
· Net profit amounted to SEK -45,198 thousand (SEK -20,520 thousand) or SEK -3.00 (SEK -1.84) per share before dilution. The profit effect of retiring capitalized development expenses was SEK -19,320 thousand.
· Net cash flow before financial items was SEK -27,184 thousand (SEK -21,291 thousand)
· The company has entered a partnership with Gestrument to enable Adventure Box game creators to easily create and use interactive music in the computer games and audiovisual experiences they create.
· Since April 1, the company has new premises in Wenner-Gren Center, Sveavägen 166, Stockholm.
· Adventure Box changed certified adviser to Aktieinvest. Aktieinvest FK AB took over on August 17, 2021. Redeye AB acted as Certified Adviser for the company until that date.
· Board member Christine Rankin resigned at her own request as a member of the Adventure Box board on October 20.
· At the Annual General Meeting, it was decided that the board should consist of seven board members. Rikard Herlitz was elected as new board member.
· The Annual General Meeting also resolved on the establishment of a warrant-based incentive program for key personnel in accordance with the board's proposal, involving the issue of a maximum of 100,000 warrants of series 2021/2024: 1 as well as the establishment of a warrant-based incentive program for board members 20,000 warrants of series 2021/2024: 2.
· Adventure Box has appointed a new CEO, Rickard Riblom, who took over as new CEO of Adventure Box on October 11, 2021. Christopher Kingdon has left the company and is no longer a member of the board.
· During the last quarter of the year, scrapped development of software in the old platform took place to a new platform at a cost of SEK 19,320 thousand.
SIGNIFICANT EVENTS AFTER THE END OF THE PERIOD
· Continued focus on cost savings to improve the company's endurance.
· The Multimaker in alpha-version went live on Jan 27.
The report is attached to this press release and is available via the following link: https://corp.adventurebox.com/en/investors/financial-reports/
This information is such that Adventure Box Technology AB (publ) is required to disclose in accordance with the EU Market Abuse Regulation. Information was provided through the below contact persons' publication for publication on 25 February 2022 at 8:00 CET. FOR MORE INFORMATION CONTACT:
Rickard Riblom, CEO Adventure Box, +46 (0)70 444 24 79,
[email protected], corp.adventurebox.com
The following documents can be retrieved from beQuoted
22023-ADV-BOX-EN-Q4-Final.pdf
20220225-Adventure-Box-Technologies-Year-end-Report-2021Q4-E.pdf ABOUT ADVENTURE BOX TECHNOLOGY AB
Adventure Box, the leading social cloud gaming platform for user-created games, makes it easy and fun to make, share and play 3D games online. The company's world-leading streaming technology is patent protected. Founded in Stockholm 2014, the company also has staff in Seville, Copenhagen, and Madrid. Adventure Box is traded at Nasdaq First North Growth Market under the short name ADVBOX and ISIN code SE0012955276. Aktieinvest FK AB with email [email protected] and phone number +46 739 49 62 50 is the company's Certified Adviser.
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