Enad Global 7 AB (ENADF) Q4 2025 Earnings Call Highlights: Strong Revenue Growth Amidst Challenges

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Wed, February 18, 2026 at 12:00 AM GMT+9 3 min read

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ENADF

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This article first appeared on GuruFocus.

Release Date: February 17, 2026

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

Enad Global 7 AB (ENADF) reported a strong net revenue of 437 million SEK for Q4 2025, despite a 4.4% decline from the previous year.

Daybreak delivered an 11% net revenue growth year over year in local currency, with adjusted EBITDA increasing by 26%.

Paleo showed impressive performance with a 146% net revenue growth year over year, becoming the largest revenue contributor for Daybreak's portfolio.

Big Blue Bubble experienced a 27% growth in MAU and a 59% net revenue increase from November to December, with momentum carrying into January.

Fire Shine's net revenue grew by 10% year over year, supported by the release of Jurassic World Evolution 3 and other digital launches.

Negative Points

Net revenue for the full year 2025 declined by 1.1% when excluding foreign exchange impacts, with a significant distortion due to volatile currency fluctuations.

My Singing Monsters experienced lower user numbers throughout 2025, impacting revenues and profitability.

EverQuest faced performance issues due to IP infringement, affecting Daybreak's portfolio numbers.

The release of Cold Iron's game was delayed to Q3 2026, impacting 2025 performance.

Piranha Games' net revenue declined by 45% year over year due to the absence of new game releases in 2025.

Q & A Highlights

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Q: Do you believe the improved performance for My Singing Monsters is sustainable? A: It’s too early to tell, but the strategy for Big Blue Bubble is to continue partnerships with influencers to maintain high engagement on platforms like TikTok. This approach could replicate recent success, though it depends on the influencers’ reach. We are optimistic about sustaining engagement levels.

Q: What are your expectations for Paleo from here? Is it stable at the new level, or do you see further upside potential? A: We expect Paleo to continue growing. The game is not yet complete, and with planned expansions and new content, we anticipate further growth. The upcoming annual expansion in 2026 is expected to drive additional growth.

Q: How firm is the release date of the Cold Iron game project? Is it mainly timing or optimized sold units, or does the game still need additional polishing? A: We have a high degree of confidence for a Q3 release. While polishing and improvements are ongoing, the current development trajectory supports this timeline.

Story Continues  

Q: How should we view the MechWarrior franchise following the write-down? Is the IP still relevant for your long-term portfolio? A: The write-down was related to a specific underperforming title, not the MechWarrior IP itself. The DLC strategy for MechWarrior is performing well, and we see continued potential for the IP.

Q: Can you explain a bit more about the write-down and shift of development assets to Canada? Will it lower your employee cost in 2026? A: Moving development to Canada is expected to lower costs significantly, with potential savings of up to 40% compared to California. This strategic shift aims to reduce long-term development costs, though immediate savings in 2026 may not be substantial.

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

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