G5ENNasdaq StockholmConsumer DiscretionaryIFRS · SEK

G5 Entertainment

G5 Entertainment is a Swedish developer and publisher of high-quality free-to-play mobile and PC games. The company is known for its popular game titles such as Sherlock, Hidden City, and the Jewels family of games. G5 Entertainment operates its own distribution platform, the G5 Store, which aims to be a top destination for casual PC gamers. The company focuses on organic growth through product development and marketing, reinvesting profits to maintain its competitive edge in the fast-paced gaming industry.

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Revenue942m SEK
−17.0 %y/y
Operating profit (EBIT)23.0m SEK
−80.3 %y/y
EBIT margin2.4%
−7.9 ppy/y
Net income30.0m SEK
−74.8 %y/y

Fiscal year 2025 · change from previous year

Development 2021–2025

05001,0001,500m SEK2021: 1,316 m SEK2021: EBIT 216 m SEK20212022: 1,400 m SEK2022: EBIT 79 m SEK20222023: 1,320 m SEK2023: EBIT 111 m SEK20232024: 1,135 m SEK2024: EBIT 117 m SEK20242025: 942 m SEK2025: EBIT 23 m SEK202594223
RevenueOperating profit (EBIT)

Business

Share of revenue
Sherlock Game Series33 %

Includes all games under the Sherlock brand.

Hidden City33 %

Licensed game with a strong player base.

Jewels Family33 %

A collection of six games managed by the same team.

G5 Store1 %

Platform for distributing high-quality casual PC games.

Customers

G5 Entertainment primarily targets casual gamers who enjoy free-to-play games on mobile and PC platforms. The company's games appeal to a broad demographic, including older casual players who prefer high-quality gaming experiences on larger screens. G5's customer base is global, with significant revenue contributions from North America and Europe. The company also attracts third-party developers looking to distribute their games through the G5 Store.

Casual Mobile Gamers

Players who enjoy free-to-play games on mobile devices.

Casual PC Gamers

Older players seeking high-quality games on PC.

Third-party Developers

Developers looking to distribute games via G5 Store.

Strategy

G5 Entertainment's strategic priorities focus on stabilizing top-line revenue and expanding its game portfolio. The company invests heavily in user acquisition to support key titles like Sherlock and Hidden City. G5 is also developing new games and enhancing its G5 Store platform to become a leading destination for casual PC games. These strategies aim to leverage G5's expertise in profitable user acquisition and expand its revenue streams.

Stabilize RevenueShort term

To maintain financial health amid market pressures.

Expand Game PortfolioMedium term

To diversify revenue streams and attract new players.

Enhance G5 StoreLong term

To capture the casual PC gaming market.

Geography

G5 Entertainment has a strong geographic presence, with North America accounting for 60% of its revenue, followed by Europe at 29%. The company also has a growing presence in Asia and other regions. G5's operations are supported by a subsidiary in Malta, where the rights to its games are held and senior management is based. This geographic distribution allows G5 to tap into diverse markets and mitigate regional risks.

Risks

G5 Entertainment faces several risks, including the volatility of the gaming market and the need for continuous innovation to retain players. Currency fluctuations can impact financial performance, given the company's global operations. Additionally, the high cost of user acquisition poses a financial risk if not managed effectively. The company also faces competition from other gaming platforms and potential regulatory changes in key markets.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Market Volatility1User Acquisition Costs2Currency Fluctuations3
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Market VolatilityImpact: HighLikelihood: Low

    Affects player engagement and revenue stability.

  2. User Acquisition CostsImpact: HighLikelihood: Low

    High costs can reduce profitability if not managed.

  3. Currency FluctuationsImpact: MediumLikelihood: Medium

    Global operations expose the company to exchange rate risks.

Accounting

Judgemental items
Capitalized Development Expenses

Impact amortization and reported R&D costs.

Revenue Recognition Timing

Affects comparability of quarterly results.

Currency Exchange Differences

Influence financial performance due to global operations.

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Last updated: 24/09/2026