Ten Square Games SA
WSE:TEN
Ten Square Games SA
Ten Square Games SA engages in the design, production and distribution of browser and mobile games. The company is headquartered in Wroclaw, Woj. Dolnoslaskie and currently employs 235 full-time employees. The company went IPO on 2018-05-11. The firm is focused on 3D simulation hobby games for people who seek outdoor experiences on their mobile devices, like fishing or hunting games. Its games are available on social platforms, a network of partner sites, as well as on Google Play, App Store and Microsoft Store.
Ten Square Games SA engages in the design, production and distribution of browser and mobile games. The company is headquartered in Wroclaw, Woj. Dolnoslaskie and currently employs 235 full-time employees. The company went IPO on 2018-05-11. The firm is focused on 3D simulation hobby games for people who seek outdoor experiences on their mobile devices, like fishing or hunting games. Its games are available on social platforms, a network of partner sites, as well as on Google Play, App Store and Microsoft Store.
Revenue drivers: Lower revenue in Q2 was mainly due to deliberately reduced marketing spend, which management expects to pay off in future quarters as new game features and tests conclude.
Profitability: Adjusted EBITDA for the quarter was PLN 27 million, flat year-on-year, and net profit was PLN 20 million, signaling stable bottom-line performance.
Product launches: Trophy Hunter had a strong debut with promising early KPIs and a revenue mix of about 25% from advertising, while Wings of Heroes saw a 30% revenue uplift after increased marketing.
TSG Store growth: The TSG Store now accounts for 23% of total company revenue, with 32% share in Fishing Clash and 21% in Hunting Clash.
Cost control: Operating expenses remain under tight control, and the company maintains a strong cash position, closing Q2 with PLN 83.4 million in cash.
Tax audit: The ongoing tax audit has been extended into October and may continue further, but the company holds sufficient tax provisions.
No job cuts: Management stated there are no plans to reduce headcount.
Outlook: Management is optimistic about future growth, citing improved product iteration, robust cash flow, and successful new game launches.
