Q4-osavuosiraportti
UUTTA
7 päivää sitten‧15 min
1,00 SEK/osake
Viimeisin osinko
10,71 %
Tuotto/v
Tarjoustasot
First North Sweden
Määrä
Osto
150
Myynti
Määrä
1 005
Viimeisimmät kaupat
| Aika | Hinta | Määrä | Ostaja | Myyjä |
|---|---|---|---|---|
| 1 | - | - | ||
| 149 | - | - | ||
| 989 | - | - | ||
| 591 | - | - | ||
| 420 | - | - |
Ylin
9,62VWAP
Alin
9VaihtoMäärä
0,4 45 352
VWAP
Ylin
9,62Alin
9VaihtoMäärä
0,4 45 352
Välittäjätilasto
Dataa ei löytynyt
Yhtiötapahtumat
| Seuraava tapahtuma | |
|---|---|
| 2026 Q1-osavuosiraportti | 21.1.2026 |
| Menneet tapahtumat | ||
|---|---|---|
| 2025 Q4-osavuosiraportti | 22.10. | |
| 2025 Q3-osavuosiraportti | 25.6. | |
| 2025 Q2-osavuosiraportti | 2.4. | |
| 2025 Q1-osavuosiraportti | 22.1. | |
| 2024 Yhtiökokous | 22.1. |
Datan lähde: Millistream, Quartr
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Kirjaudu
2 päivää sitten·💥 Part 3 – When the market catches up with the formula What many of us are wondering right now is the most fundamental: Will our investment in MAG develop well – and when will the market start to understand the potential? This text builds on “From minus to profit” (Part 1) and “The growth machine in operation” (Part 2). If you haven’t read them, I recommend doing so first – they lay the foundation for how MAG found its “winning formula”. Now it’s about the next step: When does distrust turn to faith? ⸻ 🧭 From numbers to trust The stock market is rarely rational in real time. Good numbers are not enough; trust is required. As long as the memory of years of squeezed margins lives on, the broad revaluation will be delayed. But as the CEO emphasizes in the reports, there is now both a working model and an effective platform. With each new quarter of stable growth and controlled UA, trust is built – quietly but steadily. ⸻ 🔄 Three steps to trust 1️⃣ The proof – it has already arrived. Crozzle delivers >50% payback within the quarter and shows profitable UA. 2️⃣ The trust – it is happening now. When two to three quarters in a row show a continued journey towards 100 MSEK per quarter, analysts start talking about MAG as the company that has found the winning formula – where the game is strong enough to carry high UA and still deliver exceptional key figures. 3️⃣ The re-rating – when EBIT passes ~15% and sales approach 500 MSEK/year. Then things move quickly. The valuation is not rushing because something new is happening right then, but because the market finally dares to believe in the future. ⸻ 📈 Why it takes time – and then it moves quickly Analysts want to see at least two strong quarters in a row before changing their models. This means that figures that are already pointing to the right are often discounted a year too late. But once they write “MAG 2.0 has found its profitable growth model”, things move quickly: small notices → larger analysis → broader interest. Historically, this happens within 2–3 quarters after the trend becomes clear. ⸻ 💬 Summary MAG's CEO has two milestones: 100 MSEK per quarter – and 500 MSEK per year with ~20% EBIT. The first goal is close; the path to the second is set. The question is no longer whether the model works – but when the market realizes it. When distrust turns to belief, the valuation will catch up with reality – and then it will happen quickly. ⸻ 💭 Closing reflection I share my thoughts and analyses primarily for my own sake – to understand my most important investment in depth. The hope is that the series will help you see the great potential that the masses do not yet see. On the stock market, it is rarely the one who shouts the loudest who is ahead — but the one who understands in time.- 2 päivää sitten·🚀 Part 2 – The growth machine in operation – MAG 2.0 takes shape In the previous post, we looked at how Crozzle already during its first quarter proved MAG's "winning formula" – over 50% of the UA cost repaid within the same quarter and full payback within the year. This time we look at the big picture: how MAG is now building a machine for profitable growth that can take the company to the CEO's long-term goal – 500 million SEK in annual sales and 20% EBIT margin. ⸻ ⚙️ From squeezed margins to the "formula" Historically, MAG has delivered stable revenues but squeezed margins. The problem has not been creativity, but that the UA investments have not provided sufficient payback. This is what has now fundamentally changed. In the quarterly report, the CEO describes how the company has “unlocked the engine of user acquisition” and found “a winning formula” – where effective UA is combined with strong games, high retention and a clear path to profitable growth. Added to this is a cost-effective and quality-assured platform, built by a lean but experienced team, which allows MAG to develop and operate more titles without the costs increasing at the same rate. ⸻ 🔁 Two years of UA per title – the evergreen strategy MAG's new model is based on simple but powerful logic: • Crozzle: active UA between Q4 2025 – Q4 2027 (proof of the formula) • Title 2: active UA Q4 2026 – Q4 2028 (next-generation pun) • Title 3: active UA Q4 2027 – Q4 2029 (following thereafter) Each title receives two years of intensive UA investment (around SEK 21 million per quarter) and then lives on as evergreen games with a stable tail. This means that MAG effectively has two active titles at a time, while the older ones continue to contribute profitable revenue without increased costs. ⸻ 📊 Simulated development 2026–2028 – MAG's growth machine in operation • 2026: Crozzle alone. UA 84 MSEK → revenue ≈ 114 MSEK → EBITDA +30 MSEK. The formula is proven – first year with profitable UA. • 2027: Crozzle + Title 2. UA 168 MSEK → revenue ≈ 230 MSEK → EBITDA +62 MSEK. The machine accelerates. • 2028: Title 2 + Title 3 (and Crozzle tail). UA 168 MSEK → revenue ≈ 320 MSEK → EBITDA +152 MSEK. Full operation – evergreen effect. Already in 2028, MAG looks set to exceed its long-term goal, with sales exceeding 500 MSEK per year and an EBIT margin of around 20%. 🎉 A time to actually start celebrating for us shareholders – this is the point where MAG's new platform and formula really start to deliver. ⸻ 📈 Why our assumptions are reasonable MAG's CEO states in the report that the company's standard target is 1.5 – 2.0 × LTV in 2–3 years. According to the CEO, Crozzle has “exceptional key figures”, which speaks for a ROAS level above 2.0. Our model therefore assumes 2.2 × UA in 3 years – a reasonable but positive scenario that confirms that Crozzle-type games provide real profitable growth. ⸻ 🌱 A MAG 2.0 is emerging What we are now seeing is a MAG 2.0 emerging – a company that is no longer chasing short-term volume, but is building sustainable and scalable growth. In a mobile gaming market where many are forced to close down unprofitable titles, MAG stands out as one of the few survivors with a proven profitable model. This is the company that has gone from stable but pressured results to self-financing expansion – where each new title strengthens the previous one. ⸻ 💬 Summary To simplify the simulation, we focus here on Crozzle and upcoming titles that are based on the same “winning formula”. Of course, there is also a positive development in MAG’s other products, not least through the ongoing platform change and optimization of existing games, which further strengthens the whole. MAG’s success is no longer just about an individual game, but about the whole: strong games, high retention, a cost-effective platform and a clear path to profitable growth. Crozzle showed the way – now it’s about scaling up the formula with more titles and putting the new machine to work. ⸻ 💭 Final reflection We have tried to make a simple but realistic simulation of how MAG’s new strategy can develop over three years. Do you think we have managed to explain the principle behind the “winning formula” in an understandable way? Or is there something you think we should delve into in the next post?
- 3 päivää sitten·💪 From minus to 20 MSEK in profit – Crozzle shows how MAG found the formula MAG's CEO described Crozzle as "exceptionally strong", with more than half of the investment repaid within the same quarter. But the success is not just about effective marketing (UA). What makes the difference now is the combination – stronger game content, higher willingness to pay among players and a more precise UA model that interacts in a new, profitable whole. ⸻ The UA investment that changes everything In Q4 2025, MAG increased its marketing (UA, User Acquisition) for Crozzle to approximately 21 MSEK net. The cost was taken directly, which temporarily weighed on EBITDA and cash by approximately –7 MSEK – exactly what is illustrated in the graph below. According to the CEO, more than half of the investment was repaid during the quarter. But it is the following year, 2026, that the really interesting thing happens: the players recruited in Q4 continue to generate revenue without the cost needing to be recouped. Since the cost has already been taken, this revenue becomes pure profit – directly on EBITDA and cash. ⸻ A winning formula In the CEO’s letter, management describes how the company has “unlocked the engine of user acquisition” and that it has now found “a winning formula” for profitable growth. The formula is not just about UA, but about the whole: • an engaging game concept, • strong retention, • more and higher payments (IAP), and • an effective UA strategy that reinforces all of this. Historically, MAG has had stable revenue but squeezed margins. Now Crozzle is showing that the new strategy is working – the company can grow quickly without compromising profitability. ⸻ The industry is getting tougher – only those with the formula survive When the existing investment provides a stable revenue stream in 2026, it is not only a statement of strength for Crozzle – it also shows why MAG’s new strategy is crucial for the company’s future. In today’s mobile gaming market, only those who have found their winning formula survive – a combination of strong game content, high willingness to pay and effective marketing. Major players such as Stillfront have recently announced that they are closing down around thirty unprofitable games. Crozzle shows the opposite: that MAG has now found the model that works and can be scaled. This is also confirmed by the CEO’s words that Crozzle is showing “exceptional key figures.” ⸻ From minus to machine When MAG enters 2026, the UA cost has already been taken in Q4 2025, but the revenue from the first cohort continues to roll in. This contributes to around SEK 20 million in net revenue for the year – pure profit on EBITDA and cash. The margin is already turning around in Q1, and as new investments are added quarter after quarter, the returns from previous investments will strengthen with each subsequent quarter. This is how MAG builds its growth machine – a model where investments finance themselves after just a few months. Our own calculations show that Crozzle already in Q4 2025 repaid around 66% of the UA cost within the quarter – completely in line with the CEO’s statement of “more than half”. The CEO’s letter also mentions that the Android version still needs to be optimized for better ad revenue, which confirms the picture we see in Sensor Tower: that MAG is currently putting a larger share of UA on iOS, where monetization is already stronger. This means that the current UA mix will likely yield even higher ARPDAU and faster payback in the future – further support that the CEO is right when he says that the company has found the formula. ⸻ 💬 Summary Crozzle is not just a new game – it is proof that MAG has found the formula. The first cohort from Q4 2025 alone is expected to generate around SEK 20 million in new revenue in 2026 – pure profit on EBITDA and cash. But the point is bigger than that: it is the principle that is decisive. Crozzle shows how the UA strategy builds value over time and what it can mean for MAG when multiple investments are running in parallel. We also expect revenue to remain higher than for previous titles like Wordzee – see the graph below. The CEO’s goal is to reach over SEK 100 million per quarter, and it is at that level that MAG’s business begins to show its full profitability. As the CEO himself writes – “we have unlocked the engine of user acquisition” – and 2026 looks to be a year of new opportunities. MAG already has the base, the team and now also the formula for profitable growth – a combination that is becoming increasingly rare in the mobile gaming industry. ⸻ 💭 What do you think? The price is still depressed after the sales from a couple of larger owners in recent weeks – but the fundamentals look stronger than they have in a long time. Do you think it's time to increase now, before more people discover what's going on – or will you wait until FOMO takes hold?
- 24.10.·Crozzle climbs – tops the charts in Sweden in just one week 💥 MAG Interactive's new word game Crozzle has had a really strong start on the Swedish market. The game is currently: • 🥇 #1 in Word Games on the App Store • 🥈 #2 overall in Games and Arcade Games • 🥈 #2 on Google Play – Top New Free Word • 💰 Already seen on Top Grossing within word games on iOS That a new game climbs to the top of Top Free on both platforms is impressive in itself – but that it already appears on Top Grossing after just one week is unusual. This indicates that Swedish players are not only testing Crozzle but also starting to spend early, which suggests both strong engagement and well-calibrated monetization. 👉 Have you downloaded Crozzle yet? Source: AppBrain (images attached below)
- 23.10.·🔹 MAG Interactive 2026 – From stable cash flow to the next level 💥 After yesterday's report and presentation, it feels clear that MAG is facing a new phase – and that 2026 could be the year when the company really shifts gears. Crozzle has already proven that MAG's new data-driven model works: fast payback, strong ARPDAU and high retention – while keeping cash flow stable despite record levels of UA. CEO Daniel Hasselberg described Crozzle's figures as "exceptional key figures" and emphasized that this is just the beginning. ⸻ 🔸 How 2026 could develop quarter by quarter Q1 25/26 (Sep–Nov 2025, reported in Jan 2026) Crozzle is growing in Europe with improved margins compared to the US thanks to currency effects and lower advertising costs. This will be the first quarter where Crozzle really starts to show its breadth in several EU markets. Q2 25/26 (Dec 2025–Feb 2026, reported in Apr) Crozzle gets a new boost when the Android version is optimized for better ad revenue. Wordzee takes off with the new platform and UA strategy, which could be the starting point for the next big wave of growth. Quizduell continues to deliver stable cash flow and growing engagement thanks to the team function. MAG is now clearly becoming a multi-legged growth case, where several games contribute simultaneously. Q3 25/26 (Mar–May 2026, reported in July) MAG is approaching 100 MSEK in quarterly revenue. New titles enter soft-launch. Crozzle and Wordzee continue to deliver strong retention and fast payback. This is often when investors start looking forward to 2027 as the first truly profitable year of growth. Q4 25/26 (Jun–Aug 2026, reported in Oct) The company passes 100 MSEK in sales, several titles are growing simultaneously and the cash flow becomes clearly positive. MAG is established as a scalable growth company with several active engines. ⸻ 🔸 Summary and outlook MAG enters 2026 with a proven model, stable cash flow and several games that are already showing results. This is no longer a turnaround – but the beginning of a new growth chapter. The CEO's words sum it up well: “A year of new opportunities.” Crozzle's success, the growing pipeline of new titles and the transition to a platform-based working method mean that each new game can be launched faster, smarter and with higher profitability. It's that kind of scalability that makes company values grow significantly over time – and that makes 2026 the year when MAG seriously steps up as a European premium player in casual games. 💭 What happens to company value when the “year of new opportunities” starts to be reflected in the results?
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Q4-osavuosiraportti
UUTTA
7 päivää sitten‧15 min
1,00 SEK/osake
Viimeisin osinko
10,71 %
Tuotto/v
Uutiset ja analyysit
Tämän sivun uutiset ja/tai sijoitussuositukset tai otteet niistä sekä niihin liittyvät linkit ovat mainitun tahon tuottamia ja toimittamia. Nordnet ei ole osallistunut materiaalin laatimiseen, eikä ole tarkistanut sen sisältöä tai tehnyt sisältöön muutoksia. Lue lisää sijoitussuosituksista.
Shareville
Liity keskusteluun SharevillessäShareville on aktiivisten yksityissijoittajien yhteisö, jossa voit seurata muiden asiakkaiden kaupankäyntiä ja omistuksia.
Kirjaudu
- 2 päivää sitten·💥 Part 3 – When the market catches up with the formula What many of us are wondering right now is the most fundamental: Will our investment in MAG develop well – and when will the market start to understand the potential? This text builds on “From minus to profit” (Part 1) and “The growth machine in operation” (Part 2). If you haven’t read them, I recommend doing so first – they lay the foundation for how MAG found its “winning formula”. Now it’s about the next step: When does distrust turn to faith? ⸻ 🧭 From numbers to trust The stock market is rarely rational in real time. Good numbers are not enough; trust is required. As long as the memory of years of squeezed margins lives on, the broad revaluation will be delayed. But as the CEO emphasizes in the reports, there is now both a working model and an effective platform. With each new quarter of stable growth and controlled UA, trust is built – quietly but steadily. ⸻ 🔄 Three steps to trust 1️⃣ The proof – it has already arrived. Crozzle delivers >50% payback within the quarter and shows profitable UA. 2️⃣ The trust – it is happening now. When two to three quarters in a row show a continued journey towards 100 MSEK per quarter, analysts start talking about MAG as the company that has found the winning formula – where the game is strong enough to carry high UA and still deliver exceptional key figures. 3️⃣ The re-rating – when EBIT passes ~15% and sales approach 500 MSEK/year. Then things move quickly. The valuation is not rushing because something new is happening right then, but because the market finally dares to believe in the future. ⸻ 📈 Why it takes time – and then it moves quickly Analysts want to see at least two strong quarters in a row before changing their models. This means that figures that are already pointing to the right are often discounted a year too late. But once they write “MAG 2.0 has found its profitable growth model”, things move quickly: small notices → larger analysis → broader interest. Historically, this happens within 2–3 quarters after the trend becomes clear. ⸻ 💬 Summary MAG's CEO has two milestones: 100 MSEK per quarter – and 500 MSEK per year with ~20% EBIT. The first goal is close; the path to the second is set. The question is no longer whether the model works – but when the market realizes it. When distrust turns to belief, the valuation will catch up with reality – and then it will happen quickly. ⸻ 💭 Closing reflection I share my thoughts and analyses primarily for my own sake – to understand my most important investment in depth. The hope is that the series will help you see the great potential that the masses do not yet see. On the stock market, it is rarely the one who shouts the loudest who is ahead — but the one who understands in time.
- 2 päivää sitten·🚀 Part 2 – The growth machine in operation – MAG 2.0 takes shape In the previous post, we looked at how Crozzle already during its first quarter proved MAG's "winning formula" – over 50% of the UA cost repaid within the same quarter and full payback within the year. This time we look at the big picture: how MAG is now building a machine for profitable growth that can take the company to the CEO's long-term goal – 500 million SEK in annual sales and 20% EBIT margin. ⸻ ⚙️ From squeezed margins to the "formula" Historically, MAG has delivered stable revenues but squeezed margins. The problem has not been creativity, but that the UA investments have not provided sufficient payback. This is what has now fundamentally changed. In the quarterly report, the CEO describes how the company has “unlocked the engine of user acquisition” and found “a winning formula” – where effective UA is combined with strong games, high retention and a clear path to profitable growth. Added to this is a cost-effective and quality-assured platform, built by a lean but experienced team, which allows MAG to develop and operate more titles without the costs increasing at the same rate. ⸻ 🔁 Two years of UA per title – the evergreen strategy MAG's new model is based on simple but powerful logic: • Crozzle: active UA between Q4 2025 – Q4 2027 (proof of the formula) • Title 2: active UA Q4 2026 – Q4 2028 (next-generation pun) • Title 3: active UA Q4 2027 – Q4 2029 (following thereafter) Each title receives two years of intensive UA investment (around SEK 21 million per quarter) and then lives on as evergreen games with a stable tail. This means that MAG effectively has two active titles at a time, while the older ones continue to contribute profitable revenue without increased costs. ⸻ 📊 Simulated development 2026–2028 – MAG's growth machine in operation • 2026: Crozzle alone. UA 84 MSEK → revenue ≈ 114 MSEK → EBITDA +30 MSEK. The formula is proven – first year with profitable UA. • 2027: Crozzle + Title 2. UA 168 MSEK → revenue ≈ 230 MSEK → EBITDA +62 MSEK. The machine accelerates. • 2028: Title 2 + Title 3 (and Crozzle tail). UA 168 MSEK → revenue ≈ 320 MSEK → EBITDA +152 MSEK. Full operation – evergreen effect. Already in 2028, MAG looks set to exceed its long-term goal, with sales exceeding 500 MSEK per year and an EBIT margin of around 20%. 🎉 A time to actually start celebrating for us shareholders – this is the point where MAG's new platform and formula really start to deliver. ⸻ 📈 Why our assumptions are reasonable MAG's CEO states in the report that the company's standard target is 1.5 – 2.0 × LTV in 2–3 years. According to the CEO, Crozzle has “exceptional key figures”, which speaks for a ROAS level above 2.0. Our model therefore assumes 2.2 × UA in 3 years – a reasonable but positive scenario that confirms that Crozzle-type games provide real profitable growth. ⸻ 🌱 A MAG 2.0 is emerging What we are now seeing is a MAG 2.0 emerging – a company that is no longer chasing short-term volume, but is building sustainable and scalable growth. In a mobile gaming market where many are forced to close down unprofitable titles, MAG stands out as one of the few survivors with a proven profitable model. This is the company that has gone from stable but pressured results to self-financing expansion – where each new title strengthens the previous one. ⸻ 💬 Summary To simplify the simulation, we focus here on Crozzle and upcoming titles that are based on the same “winning formula”. Of course, there is also a positive development in MAG’s other products, not least through the ongoing platform change and optimization of existing games, which further strengthens the whole. MAG’s success is no longer just about an individual game, but about the whole: strong games, high retention, a cost-effective platform and a clear path to profitable growth. Crozzle showed the way – now it’s about scaling up the formula with more titles and putting the new machine to work. ⸻ 💭 Final reflection We have tried to make a simple but realistic simulation of how MAG’s new strategy can develop over three years. Do you think we have managed to explain the principle behind the “winning formula” in an understandable way? Or is there something you think we should delve into in the next post?
- 3 päivää sitten·💪 From minus to 20 MSEK in profit – Crozzle shows how MAG found the formula MAG's CEO described Crozzle as "exceptionally strong", with more than half of the investment repaid within the same quarter. But the success is not just about effective marketing (UA). What makes the difference now is the combination – stronger game content, higher willingness to pay among players and a more precise UA model that interacts in a new, profitable whole. ⸻ The UA investment that changes everything In Q4 2025, MAG increased its marketing (UA, User Acquisition) for Crozzle to approximately 21 MSEK net. The cost was taken directly, which temporarily weighed on EBITDA and cash by approximately –7 MSEK – exactly what is illustrated in the graph below. According to the CEO, more than half of the investment was repaid during the quarter. But it is the following year, 2026, that the really interesting thing happens: the players recruited in Q4 continue to generate revenue without the cost needing to be recouped. Since the cost has already been taken, this revenue becomes pure profit – directly on EBITDA and cash. ⸻ A winning formula In the CEO’s letter, management describes how the company has “unlocked the engine of user acquisition” and that it has now found “a winning formula” for profitable growth. The formula is not just about UA, but about the whole: • an engaging game concept, • strong retention, • more and higher payments (IAP), and • an effective UA strategy that reinforces all of this. Historically, MAG has had stable revenue but squeezed margins. Now Crozzle is showing that the new strategy is working – the company can grow quickly without compromising profitability. ⸻ The industry is getting tougher – only those with the formula survive When the existing investment provides a stable revenue stream in 2026, it is not only a statement of strength for Crozzle – it also shows why MAG’s new strategy is crucial for the company’s future. In today’s mobile gaming market, only those who have found their winning formula survive – a combination of strong game content, high willingness to pay and effective marketing. Major players such as Stillfront have recently announced that they are closing down around thirty unprofitable games. Crozzle shows the opposite: that MAG has now found the model that works and can be scaled. This is also confirmed by the CEO’s words that Crozzle is showing “exceptional key figures.” ⸻ From minus to machine When MAG enters 2026, the UA cost has already been taken in Q4 2025, but the revenue from the first cohort continues to roll in. This contributes to around SEK 20 million in net revenue for the year – pure profit on EBITDA and cash. The margin is already turning around in Q1, and as new investments are added quarter after quarter, the returns from previous investments will strengthen with each subsequent quarter. This is how MAG builds its growth machine – a model where investments finance themselves after just a few months. Our own calculations show that Crozzle already in Q4 2025 repaid around 66% of the UA cost within the quarter – completely in line with the CEO’s statement of “more than half”. The CEO’s letter also mentions that the Android version still needs to be optimized for better ad revenue, which confirms the picture we see in Sensor Tower: that MAG is currently putting a larger share of UA on iOS, where monetization is already stronger. This means that the current UA mix will likely yield even higher ARPDAU and faster payback in the future – further support that the CEO is right when he says that the company has found the formula. ⸻ 💬 Summary Crozzle is not just a new game – it is proof that MAG has found the formula. The first cohort from Q4 2025 alone is expected to generate around SEK 20 million in new revenue in 2026 – pure profit on EBITDA and cash. But the point is bigger than that: it is the principle that is decisive. Crozzle shows how the UA strategy builds value over time and what it can mean for MAG when multiple investments are running in parallel. We also expect revenue to remain higher than for previous titles like Wordzee – see the graph below. The CEO’s goal is to reach over SEK 100 million per quarter, and it is at that level that MAG’s business begins to show its full profitability. As the CEO himself writes – “we have unlocked the engine of user acquisition” – and 2026 looks to be a year of new opportunities. MAG already has the base, the team and now also the formula for profitable growth – a combination that is becoming increasingly rare in the mobile gaming industry. ⸻ 💭 What do you think? The price is still depressed after the sales from a couple of larger owners in recent weeks – but the fundamentals look stronger than they have in a long time. Do you think it's time to increase now, before more people discover what's going on – or will you wait until FOMO takes hold?
- 24.10.·Crozzle climbs – tops the charts in Sweden in just one week 💥 MAG Interactive's new word game Crozzle has had a really strong start on the Swedish market. The game is currently: • 🥇 #1 in Word Games on the App Store • 🥈 #2 overall in Games and Arcade Games • 🥈 #2 on Google Play – Top New Free Word • 💰 Already seen on Top Grossing within word games on iOS That a new game climbs to the top of Top Free on both platforms is impressive in itself – but that it already appears on Top Grossing after just one week is unusual. This indicates that Swedish players are not only testing Crozzle but also starting to spend early, which suggests both strong engagement and well-calibrated monetization. 👉 Have you downloaded Crozzle yet? Source: AppBrain (images attached below)
- 23.10.·🔹 MAG Interactive 2026 – From stable cash flow to the next level 💥 After yesterday's report and presentation, it feels clear that MAG is facing a new phase – and that 2026 could be the year when the company really shifts gears. Crozzle has already proven that MAG's new data-driven model works: fast payback, strong ARPDAU and high retention – while keeping cash flow stable despite record levels of UA. CEO Daniel Hasselberg described Crozzle's figures as "exceptional key figures" and emphasized that this is just the beginning. ⸻ 🔸 How 2026 could develop quarter by quarter Q1 25/26 (Sep–Nov 2025, reported in Jan 2026) Crozzle is growing in Europe with improved margins compared to the US thanks to currency effects and lower advertising costs. This will be the first quarter where Crozzle really starts to show its breadth in several EU markets. Q2 25/26 (Dec 2025–Feb 2026, reported in Apr) Crozzle gets a new boost when the Android version is optimized for better ad revenue. Wordzee takes off with the new platform and UA strategy, which could be the starting point for the next big wave of growth. Quizduell continues to deliver stable cash flow and growing engagement thanks to the team function. MAG is now clearly becoming a multi-legged growth case, where several games contribute simultaneously. Q3 25/26 (Mar–May 2026, reported in July) MAG is approaching 100 MSEK in quarterly revenue. New titles enter soft-launch. Crozzle and Wordzee continue to deliver strong retention and fast payback. This is often when investors start looking forward to 2027 as the first truly profitable year of growth. Q4 25/26 (Jun–Aug 2026, reported in Oct) The company passes 100 MSEK in sales, several titles are growing simultaneously and the cash flow becomes clearly positive. MAG is established as a scalable growth company with several active engines. ⸻ 🔸 Summary and outlook MAG enters 2026 with a proven model, stable cash flow and several games that are already showing results. This is no longer a turnaround – but the beginning of a new growth chapter. The CEO's words sum it up well: “A year of new opportunities.” Crozzle's success, the growing pipeline of new titles and the transition to a platform-based working method mean that each new game can be launched faster, smarter and with higher profitability. It's that kind of scalability that makes company values grow significantly over time – and that makes 2026 the year when MAG seriously steps up as a European premium player in casual games. 💭 What happens to company value when the “year of new opportunities” starts to be reflected in the results?
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Yhtiötapahtumat
| Seuraava tapahtuma | |
|---|---|
| 2026 Q1-osavuosiraportti | 21.1.2026 |
| Menneet tapahtumat | ||
|---|---|---|
| 2025 Q4-osavuosiraportti | 22.10. | |
| 2025 Q3-osavuosiraportti | 25.6. | |
| 2025 Q2-osavuosiraportti | 2.4. | |
| 2025 Q1-osavuosiraportti | 22.1. | |
| 2024 Yhtiökokous | 22.1. |
Datan lähde: Millistream, Quartr
Q4-osavuosiraportti
UUTTA
7 päivää sitten‧15 min
Uutiset ja analyysit
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Yhtiötapahtumat
| Seuraava tapahtuma | |
|---|---|
| 2026 Q1-osavuosiraportti | 21.1.2026 |
| Menneet tapahtumat | ||
|---|---|---|
| 2025 Q4-osavuosiraportti | 22.10. | |
| 2025 Q3-osavuosiraportti | 25.6. | |
| 2025 Q2-osavuosiraportti | 2.4. | |
| 2025 Q1-osavuosiraportti | 22.1. | |
| 2024 Yhtiökokous | 22.1. |
Datan lähde: Millistream, Quartr
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- 2 päivää sitten·💥 Part 3 – When the market catches up with the formula What many of us are wondering right now is the most fundamental: Will our investment in MAG develop well – and when will the market start to understand the potential? This text builds on “From minus to profit” (Part 1) and “The growth machine in operation” (Part 2). If you haven’t read them, I recommend doing so first – they lay the foundation for how MAG found its “winning formula”. Now it’s about the next step: When does distrust turn to faith? ⸻ 🧭 From numbers to trust The stock market is rarely rational in real time. Good numbers are not enough; trust is required. As long as the memory of years of squeezed margins lives on, the broad revaluation will be delayed. But as the CEO emphasizes in the reports, there is now both a working model and an effective platform. With each new quarter of stable growth and controlled UA, trust is built – quietly but steadily. ⸻ 🔄 Three steps to trust 1️⃣ The proof – it has already arrived. Crozzle delivers >50% payback within the quarter and shows profitable UA. 2️⃣ The trust – it is happening now. When two to three quarters in a row show a continued journey towards 100 MSEK per quarter, analysts start talking about MAG as the company that has found the winning formula – where the game is strong enough to carry high UA and still deliver exceptional key figures. 3️⃣ The re-rating – when EBIT passes ~15% and sales approach 500 MSEK/year. Then things move quickly. The valuation is not rushing because something new is happening right then, but because the market finally dares to believe in the future. ⸻ 📈 Why it takes time – and then it moves quickly Analysts want to see at least two strong quarters in a row before changing their models. This means that figures that are already pointing to the right are often discounted a year too late. But once they write “MAG 2.0 has found its profitable growth model”, things move quickly: small notices → larger analysis → broader interest. Historically, this happens within 2–3 quarters after the trend becomes clear. ⸻ 💬 Summary MAG's CEO has two milestones: 100 MSEK per quarter – and 500 MSEK per year with ~20% EBIT. The first goal is close; the path to the second is set. The question is no longer whether the model works – but when the market realizes it. When distrust turns to belief, the valuation will catch up with reality – and then it will happen quickly. ⸻ 💭 Closing reflection I share my thoughts and analyses primarily for my own sake – to understand my most important investment in depth. The hope is that the series will help you see the great potential that the masses do not yet see. On the stock market, it is rarely the one who shouts the loudest who is ahead — but the one who understands in time.
- 2 päivää sitten·🚀 Part 2 – The growth machine in operation – MAG 2.0 takes shape In the previous post, we looked at how Crozzle already during its first quarter proved MAG's "winning formula" – over 50% of the UA cost repaid within the same quarter and full payback within the year. This time we look at the big picture: how MAG is now building a machine for profitable growth that can take the company to the CEO's long-term goal – 500 million SEK in annual sales and 20% EBIT margin. ⸻ ⚙️ From squeezed margins to the "formula" Historically, MAG has delivered stable revenues but squeezed margins. The problem has not been creativity, but that the UA investments have not provided sufficient payback. This is what has now fundamentally changed. In the quarterly report, the CEO describes how the company has “unlocked the engine of user acquisition” and found “a winning formula” – where effective UA is combined with strong games, high retention and a clear path to profitable growth. Added to this is a cost-effective and quality-assured platform, built by a lean but experienced team, which allows MAG to develop and operate more titles without the costs increasing at the same rate. ⸻ 🔁 Two years of UA per title – the evergreen strategy MAG's new model is based on simple but powerful logic: • Crozzle: active UA between Q4 2025 – Q4 2027 (proof of the formula) • Title 2: active UA Q4 2026 – Q4 2028 (next-generation pun) • Title 3: active UA Q4 2027 – Q4 2029 (following thereafter) Each title receives two years of intensive UA investment (around SEK 21 million per quarter) and then lives on as evergreen games with a stable tail. This means that MAG effectively has two active titles at a time, while the older ones continue to contribute profitable revenue without increased costs. ⸻ 📊 Simulated development 2026–2028 – MAG's growth machine in operation • 2026: Crozzle alone. UA 84 MSEK → revenue ≈ 114 MSEK → EBITDA +30 MSEK. The formula is proven – first year with profitable UA. • 2027: Crozzle + Title 2. UA 168 MSEK → revenue ≈ 230 MSEK → EBITDA +62 MSEK. The machine accelerates. • 2028: Title 2 + Title 3 (and Crozzle tail). UA 168 MSEK → revenue ≈ 320 MSEK → EBITDA +152 MSEK. Full operation – evergreen effect. Already in 2028, MAG looks set to exceed its long-term goal, with sales exceeding 500 MSEK per year and an EBIT margin of around 20%. 🎉 A time to actually start celebrating for us shareholders – this is the point where MAG's new platform and formula really start to deliver. ⸻ 📈 Why our assumptions are reasonable MAG's CEO states in the report that the company's standard target is 1.5 – 2.0 × LTV in 2–3 years. According to the CEO, Crozzle has “exceptional key figures”, which speaks for a ROAS level above 2.0. Our model therefore assumes 2.2 × UA in 3 years – a reasonable but positive scenario that confirms that Crozzle-type games provide real profitable growth. ⸻ 🌱 A MAG 2.0 is emerging What we are now seeing is a MAG 2.0 emerging – a company that is no longer chasing short-term volume, but is building sustainable and scalable growth. In a mobile gaming market where many are forced to close down unprofitable titles, MAG stands out as one of the few survivors with a proven profitable model. This is the company that has gone from stable but pressured results to self-financing expansion – where each new title strengthens the previous one. ⸻ 💬 Summary To simplify the simulation, we focus here on Crozzle and upcoming titles that are based on the same “winning formula”. Of course, there is also a positive development in MAG’s other products, not least through the ongoing platform change and optimization of existing games, which further strengthens the whole. MAG’s success is no longer just about an individual game, but about the whole: strong games, high retention, a cost-effective platform and a clear path to profitable growth. Crozzle showed the way – now it’s about scaling up the formula with more titles and putting the new machine to work. ⸻ 💭 Final reflection We have tried to make a simple but realistic simulation of how MAG’s new strategy can develop over three years. Do you think we have managed to explain the principle behind the “winning formula” in an understandable way? Or is there something you think we should delve into in the next post?
- 3 päivää sitten·💪 From minus to 20 MSEK in profit – Crozzle shows how MAG found the formula MAG's CEO described Crozzle as "exceptionally strong", with more than half of the investment repaid within the same quarter. But the success is not just about effective marketing (UA). What makes the difference now is the combination – stronger game content, higher willingness to pay among players and a more precise UA model that interacts in a new, profitable whole. ⸻ The UA investment that changes everything In Q4 2025, MAG increased its marketing (UA, User Acquisition) for Crozzle to approximately 21 MSEK net. The cost was taken directly, which temporarily weighed on EBITDA and cash by approximately –7 MSEK – exactly what is illustrated in the graph below. According to the CEO, more than half of the investment was repaid during the quarter. But it is the following year, 2026, that the really interesting thing happens: the players recruited in Q4 continue to generate revenue without the cost needing to be recouped. Since the cost has already been taken, this revenue becomes pure profit – directly on EBITDA and cash. ⸻ A winning formula In the CEO’s letter, management describes how the company has “unlocked the engine of user acquisition” and that it has now found “a winning formula” for profitable growth. The formula is not just about UA, but about the whole: • an engaging game concept, • strong retention, • more and higher payments (IAP), and • an effective UA strategy that reinforces all of this. Historically, MAG has had stable revenue but squeezed margins. Now Crozzle is showing that the new strategy is working – the company can grow quickly without compromising profitability. ⸻ The industry is getting tougher – only those with the formula survive When the existing investment provides a stable revenue stream in 2026, it is not only a statement of strength for Crozzle – it also shows why MAG’s new strategy is crucial for the company’s future. In today’s mobile gaming market, only those who have found their winning formula survive – a combination of strong game content, high willingness to pay and effective marketing. Major players such as Stillfront have recently announced that they are closing down around thirty unprofitable games. Crozzle shows the opposite: that MAG has now found the model that works and can be scaled. This is also confirmed by the CEO’s words that Crozzle is showing “exceptional key figures.” ⸻ From minus to machine When MAG enters 2026, the UA cost has already been taken in Q4 2025, but the revenue from the first cohort continues to roll in. This contributes to around SEK 20 million in net revenue for the year – pure profit on EBITDA and cash. The margin is already turning around in Q1, and as new investments are added quarter after quarter, the returns from previous investments will strengthen with each subsequent quarter. This is how MAG builds its growth machine – a model where investments finance themselves after just a few months. Our own calculations show that Crozzle already in Q4 2025 repaid around 66% of the UA cost within the quarter – completely in line with the CEO’s statement of “more than half”. The CEO’s letter also mentions that the Android version still needs to be optimized for better ad revenue, which confirms the picture we see in Sensor Tower: that MAG is currently putting a larger share of UA on iOS, where monetization is already stronger. This means that the current UA mix will likely yield even higher ARPDAU and faster payback in the future – further support that the CEO is right when he says that the company has found the formula. ⸻ 💬 Summary Crozzle is not just a new game – it is proof that MAG has found the formula. The first cohort from Q4 2025 alone is expected to generate around SEK 20 million in new revenue in 2026 – pure profit on EBITDA and cash. But the point is bigger than that: it is the principle that is decisive. Crozzle shows how the UA strategy builds value over time and what it can mean for MAG when multiple investments are running in parallel. We also expect revenue to remain higher than for previous titles like Wordzee – see the graph below. The CEO’s goal is to reach over SEK 100 million per quarter, and it is at that level that MAG’s business begins to show its full profitability. As the CEO himself writes – “we have unlocked the engine of user acquisition” – and 2026 looks to be a year of new opportunities. MAG already has the base, the team and now also the formula for profitable growth – a combination that is becoming increasingly rare in the mobile gaming industry. ⸻ 💭 What do you think? The price is still depressed after the sales from a couple of larger owners in recent weeks – but the fundamentals look stronger than they have in a long time. Do you think it's time to increase now, before more people discover what's going on – or will you wait until FOMO takes hold?
- 24.10.·Crozzle climbs – tops the charts in Sweden in just one week 💥 MAG Interactive's new word game Crozzle has had a really strong start on the Swedish market. The game is currently: • 🥇 #1 in Word Games on the App Store • 🥈 #2 overall in Games and Arcade Games • 🥈 #2 on Google Play – Top New Free Word • 💰 Already seen on Top Grossing within word games on iOS That a new game climbs to the top of Top Free on both platforms is impressive in itself – but that it already appears on Top Grossing after just one week is unusual. This indicates that Swedish players are not only testing Crozzle but also starting to spend early, which suggests both strong engagement and well-calibrated monetization. 👉 Have you downloaded Crozzle yet? Source: AppBrain (images attached below)
- 23.10.·🔹 MAG Interactive 2026 – From stable cash flow to the next level 💥 After yesterday's report and presentation, it feels clear that MAG is facing a new phase – and that 2026 could be the year when the company really shifts gears. Crozzle has already proven that MAG's new data-driven model works: fast payback, strong ARPDAU and high retention – while keeping cash flow stable despite record levels of UA. CEO Daniel Hasselberg described Crozzle's figures as "exceptional key figures" and emphasized that this is just the beginning. ⸻ 🔸 How 2026 could develop quarter by quarter Q1 25/26 (Sep–Nov 2025, reported in Jan 2026) Crozzle is growing in Europe with improved margins compared to the US thanks to currency effects and lower advertising costs. This will be the first quarter where Crozzle really starts to show its breadth in several EU markets. Q2 25/26 (Dec 2025–Feb 2026, reported in Apr) Crozzle gets a new boost when the Android version is optimized for better ad revenue. Wordzee takes off with the new platform and UA strategy, which could be the starting point for the next big wave of growth. Quizduell continues to deliver stable cash flow and growing engagement thanks to the team function. MAG is now clearly becoming a multi-legged growth case, where several games contribute simultaneously. Q3 25/26 (Mar–May 2026, reported in July) MAG is approaching 100 MSEK in quarterly revenue. New titles enter soft-launch. Crozzle and Wordzee continue to deliver strong retention and fast payback. This is often when investors start looking forward to 2027 as the first truly profitable year of growth. Q4 25/26 (Jun–Aug 2026, reported in Oct) The company passes 100 MSEK in sales, several titles are growing simultaneously and the cash flow becomes clearly positive. MAG is established as a scalable growth company with several active engines. ⸻ 🔸 Summary and outlook MAG enters 2026 with a proven model, stable cash flow and several games that are already showing results. This is no longer a turnaround – but the beginning of a new growth chapter. The CEO's words sum it up well: “A year of new opportunities.” Crozzle's success, the growing pipeline of new titles and the transition to a platform-based working method mean that each new game can be launched faster, smarter and with higher profitability. It's that kind of scalability that makes company values grow significantly over time – and that makes 2026 the year when MAG seriously steps up as a European premium player in casual games. 💭 What happens to company value when the “year of new opportunities” starts to be reflected in the results?
Yllä olevat kommentit ovat peräisin Nordnetin sosiaalisen verkoston Sharevillen käyttäjiltä, eikä niitä ole muokattu eikä Nordnet ole tarkastanut niitä etukäteen. Ne eivät tarkoita, että Nordnet tarjoaisi sijoitusneuvoja tai sijoitussuosituksia. Nordnet ei ota vastuuta kommenteista.
Tarjoustasot
First North Sweden
Määrä
Osto
150
Myynti
Määrä
1 005
Viimeisimmät kaupat
| Aika | Hinta | Määrä | Ostaja | Myyjä |
|---|---|---|---|---|
| 1 | - | - | ||
| 149 | - | - | ||
| 989 | - | - | ||
| 591 | - | - | ||
| 420 | - | - |
Ylin
9,62VWAP
Alin
9VaihtoMäärä
0,4 45 352
VWAP
Ylin
9,62Alin
9VaihtoMäärä
0,4 45 352
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Dataa ei löytynyt