Strong first quarter – sales grew 815%

FINANCIAL HIGHLIGHTS – 1 January 2022 – 31 MARCH 2022

  • Net sales amounted to MSEK 67.4 (MSEK 7.4), a growth of 815%.
  • EBITDA amounted to MSEK 8.5 (MSEK 3.4), an increase of 148%.
  • EBIT amounted to MSEK 7.4 (MSEK 2.8), an increase of 162%.
  • Profit before tax amounted to MSEK 6.9 (MSEK 2.8), an increase of 144%.
  • Cash flow from operating activities before changes in working capital amounted to MSEK 8.1 (MSEK 3.5) during the quarter.
  • Cash and cash equivalents amounted to MSEK 34.8 (MSEK 19.8), and in addition the company has an unutilized overdraft facility of MSEK 15.
  • Earnings per share during the quarter amounted to SEK 0.3, normalized for the split of shares that took place last financial year of 1/10 earnings per share were SEK 3 (SEK 1.2).


Significant events during the period January – March 2022

  • On January 13, 2022, the company launched the new community brand Farmfriends. The new brand is aimed at the gaming genre “farming simulator games” which is a large and popular genre.
  • On February 14, 2022, the company launched the new community brand Forzafire. The new brand is aimed at the gaming genre “iRacing”, which is a large genre that is seeing significant growth. For-zafire targets the gaming community around the game Forza Horizon 5, a racing game on the Xbox console that has a large number of players and a large and dedicated content creator network that is active on YouTube, Twitch, TikTok and other major channels.
  • The company extended its contract with the global ad tech platform Venatus Media. The new contract has improved terms to solidify the relationship further, which means that the partnership can grow strongly into the future.
  • The company has updated its business idea, vision, and mission to reflect its strategy better. The company has also launched an updated version of its company website The update aims to clearly show the company’s various brands and business legs and create a better platform/communication channel for our partners, customers, and content creators. In connection with the update of the website, the company also updated its graphic profile and logo for M.O.B.A. and a completely updated section for Investor relations.
  • The Board proposes that no dividend be paid for the period October 2020 – December 2021. The Board intends to continue applying a growth-oriented strategy, including organic growth and an offensive acquisition strategy.
  • M.O.B.A. Network announces that subscription of share options (series TO1), which was resolved at the Annual General Meeting in February 2020, was completed on March 31, 2022. A total of 29,700 options were exercised, which gives 297,000 shares. Through the exercise of share options, the company’s number of shares will increase to 22,682,820 and the share capital will amount to 2,268,282. M.O.B.A. Network receives approx. MSEK 6 after the exercise of options.

Significant events after the period 1 January 2022 – 31 March 2022

  • The company held the Annual General Meeting on 21 April 2022. The AGM resolved to adopt the income statement and balance sheet and the consolidated income statement and consolidated balance sheet. The AGM resolved to discharge all individuals who had served as Board members or CEO from liability for the administration of the company. The AGM resolved in favour of re-election of the board members Henrik Henriksson, Maria A. Grimaldi, Jonas Bertilsson och Manfred Gottschlich and Chairman of the Board Fredrik Burvall. 

Comments by the CEO

Strong first quarter – sales grew 815%

M.O.B.A. Network reports a solid first quarter with increased sales of 815 percent to SEK 67.4 million and an increase in EBITDA of 148 percent to SEK 8.5 million compared to the same period last year. The first quarter is usually the weakest of the year.

With the acquisitions of, Magic Find, and ResetEra last year, M.O.B.A. Network significantly strengthened its position in the gaming market by broadening its operations to new verticals and expanding the network. The acquisitions have meant, among other things, that we have taken the step into the video segment with the Youtube network Union For Gamers and introduced the direct sales company Creator1 with attractive offers for content creators in gaming. These are important strategic steps in our growth strategy.

Part of our growth strategy is also to launch new community brands. We started 2022 by introducing two new community brands. First out was the Farmfriends brand, which is aimed at “farming simulator games,” a large and popular genre. The launch of Farmfriends was followed by the Forzafire brand, which targets the fast-growing genre “iRacing.” The target group for the new brand is the community around Forza Horizon 5, which is a racing game on the Xbox console. Forza Horizon 5 has a large number of players and a significant and committed network of content creators who are active on YouTube, Twitch, TikTok, and other essential channels. We will release more in-house developed brands in the next few quarters as we see an exciting pipeline of new games and target groups we can reach.

Improved advertising conditions increase profitability

We have extended the contract with the global ad tech platform Venatus Media as we previously communicated. The new agreement contains improved terms, which strengthens our relationship and gives us opportunities to grow strongly both in terms of revenue and profitability. Based on the sales figures for 2021, we estimate that the new terms would have increased EBITDA during the calendar year 2021 by an additional approximately SEK 2.7 million.

An important goal for us in 2022 is to bring out the identified synergies between our acquisitions and the existing business. As part of bringing out the synergies, we continue to build and invest in the central organization. By creating a centralized organization, we will develop the content creator business and increase the growth of the web-based brands. The goal is that these activities will also contribute to increased profitability in the long run.

Continued focus on value-creating acquisitions

We also continue to search for and evaluate potential acquisitions. M.O.B.A. Network has a robust financial position and good cash flows, which creates room for more value-creating acquisitions. Our financial position was further strengthened during the quarter when we completed a successful warrant program. Following the option redemption, M.O.B.A. Network received approximately SEK 6 million, and on March 31, 2022, we had cash of SEK 34.8 million and credit commitments of SEK 15 million. I want to emphasize that we continue to be careful when acquiring. All acquisitions undergo proper analysis, and we must be able to identify both operational and financial benefits to complete the transaction.

Future prospects

Following a successful 2021, M.O.B.A. Network has significantly strengthened its position in the gaming market. The good start to 2022 shows that we have the potential to continue to create shareholder value through stable growth with good profitability and good cash flows. By successfully offering platforms and tools that enable content creators to share content with people worldwide, we will achieve the vision of becoming the world’s most engaging and largest content creator community for gaming and pop culture.




This disclosure contains information that M.O.B.A Network 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 18-05-2022 07:30 CET.


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