Enad Global 7: Q2 Interim Report 2026
April – June 2026
- Net Revenue of SEK 474.6 (378.8) million, up 25.3 percent, corresponding to an FX-adjusted organic growth of 30.3 percent.
- EBITDA of SEK 99.1 (35.8) million and Adjusted EBITDA of SEK 99.4 (37.5) million.
- EBIT of SEK 62.2 (-38.3) million and Adjusted EBIT of SEK 62.5 (-36.7) million.
- Profit before tax of SEK 59.6 (-47.2) million.
- Earnings per share were SEK 0.52 (0.09). Adjusted earnings per share of SEK 0.52 (0.11).
- Cash flow from operations came in at SEK 120.5 (-22.3) million, including a temporary working capital benefit at Fireshine. Excluding working capital movements, cash flow from operations was SEK 93.8 (16.1) million.
- Cash balance of SEK 344.2 million, and an unutilized revolving credit facility of SEK 100.0 million.
- Net debt by the end of the quarter amounted to SEK 3.6 million.
Comment in summary from Ji Ham, CEO of EG7
For the second quarter, Net Revenue was SEK 474.6 (378.8) million, up 25.3 percent, corresponding to an FX-adjusted organic growth of 30.3 percent. EBITDA amounted to SEK 99.1 (35.8) million, while Adjusted EBITDA was SEK 99.4 (37.5) million, corresponding to an Adjusted EBITDA margin of 20.9 (9.9) percent. Net Profit amounted to SEK 46.0 (8.4) million and Operating Cash Flow came in at SEK 120.5 (-22.3) million. Operating Cash Flow includes a temporary working capital benefit at Fireshine, where revenue from Far Far West was collected during the quarter while the related developer royalties remain payable. Excluding working capital movements, cash flow from operations was SEK 93.8 (16.1) million.
Fireshine delivered the quarter’s largest contribution, with Net Revenue growth of 127.2 percent in local currency, primarily driven by the successful early access launch of Far Far West in April, which reached over 1 million units sold on Steam within two weeks. Big Blue Bubble continued its strong momentum with Net Revenue growing 21.4 percent year-over-year in local currency, supported by the success of the new Clubbox gameplay feature, together with the ongoing influencer strategy. Daybreak delivered another stable quarter driven by DC Universe Online and Palia. During the quarter, Palia surpassed 10 million lifetime players and successfully launched the Royal Highlands expansion in May. Piranha also contributed positively through the release of its 8th DLC, Chaos Reign, for MechWarrior 5: Mercenaries in May.
After the quarter, the acquisition of Cold Iron was completed. The studio’s upcoming title, Aliens: Fireteam Elite 2, is scheduled for release on August 25 and has received positive early feedback ahead of launch. With several recent launches completed and further releases planned, we remain focused on delivering profitable growth over time.
Significant events after the period
On July 15, 2026, EG7 announced that Denshattack!, published by Fireshine Games and developed by Undercoders, is available worldwide on PlayStation 5, Xbox Series X|S, Nintendo Switch 2 and PC. Ahead of launch, Denshattack! generated more than 250,000 wishlists on Steam with a user review score of 97 percent for the pre-launch demo.
On July 29, 2026, EG7 announced that Daybreak Games launched EverQuest Legends, a reimagined version of the original EverQuest developed in collaboration with the independent studio Game Jawn.
On August 19, 2026, EG7 announced that the acquisition of Cold Iron have been completed. The transaction was structured as an asset purchase, with Daybreak Game Company LLC, a wholly owned subsidiary of EG7, acquiring the assets and contractual rights relating to Cold Iron’s business.