QUARTERLY REPORT THIRD QUARTER 2022During the quarter, the company's continued focus on costs was successful and led to reduced costs, mainly due to lower organizational costs and fewer employees. On September 12, it was announced that Adventure Box is acquiring Danish Multiverse with the popular gaming platform KoGaMa. The acquisition propels Adventure Box several years ahead in terms of product development and market position. With KoGaMa the company gets a thriving platform with a large and active gaming community. Apart from making the company one of the best in its segment, the acquisition also means revenue streams from advertisements, in-game micro transactions and consulting assignments. QUARTER JULY - SEPTEMBER IN SUMMARY
Excluding Multiverse/KoGaMa
- The Group's net sales during the quarter were SEK 0 thousand (SEK 0 thousand).
- Net income amounted to SEK -2,786 thousand (SEK -4,569 thousand) or SEK -0.18 (SEK -0.30) per share before dilution.
- Net cash flow before financial items was SEK -3,739 thousand (SEK -6,835 thousand).
- The company's cash and cash equivalents at the end of the quarter amounted to SEK 14,374 thousand (SEK 35,619 thousand).
- The Group's equity at the end of the quarter amounted to SEK 24,280 thousand (SEK 61,971 thousand).
- At the extraordinary general meeting on September 30, the meeting decided to issue 15,069,686 shares as liquidation for the acquisition of all shares in Danish Multiverse ApS.
- At the same general meeting, Jakob Sillesen was elected to the board.
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 24 November 2022 at 8:32 CET. FOR MORE INFORMATION CONTACT:
Michal Bendtsen, CEO Adventure Box, +46 (0) 26 355 377,
[email protected], corp.adventurebox.com
The following documents can be retrieved from beQuoted
PM-20221124-Adventure-Box-Technology-2022Q3-EN.pdf
Quarterly-Report-third-quarter-2022-final.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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