Beyond Frames Reports Record Revenue Despite Challenges
Beyond Frames Entertainment AB posts record-breaking revenue for 2024, showcasing resilience amidst industry challenges.
Sammanfattning
Beyond Frames Entertainment AB achieved its highest revenue in history for 2024 despite industry challenges, driven by strategic partnerships and a diversified portfolio.
Beyond Frames Entertainment AB, a notable player in the immersive entertainment sector, has reported a record-breaking year in terms of revenue for 2024. Sales for the fourth quarter amounted to 43,264 kSEK, a 7.1% increase compared to the same period in 2023. The company's full-year sales reached 175,834 kSEK, marking an impressive 28.4% growth year-over-year.
The CEO, Ace St. Germain, attributed this success to the company’s strategic diversification and robust operational framework, which enabled Beyond Frames to navigate a challenging year for the VR and gaming industries. Despite fluctuations in cash flow due to changes in the Meta Quest store, the company maintained a secure cash position by executing a directed share issue of 10 million SEK in January 2025.
Beyond Frames is actively working on several promising projects. The development of a game in partnership with Devolver Digital is on track, and the much-anticipated Teenage Mutant Ninja Turtles (TMNT) VR game is expected to generate significant revenue between 350-700 mSEK from mid-FY 2026 to FY 2029. The company also reported strong performance from its publishing pipeline, with titles like GRIM and Ghosts of Tabor showing promising growth and engagement metrics.
In the broader market context, the VR industry continues to expand, with Meta’s Reality Labs posting a 40% revenue increase YoY and Google re-entering the XR market with its AndroidXR platform. These developments, alongside Beyond Frames' diverse portfolio, position the company well for future growth.
Despite the positive revenue trends, Beyond Frames reported a loss after financial items of -19,264 kSEK for the year, reflecting the ongoing investment in its development pipeline and market expansion strategies. However, the increase in EBITDA per share to 0.72 SEK from 0.59 SEK indicates improved operational efficiency.
Given the company's strategic positioning, strong pipeline, and industry trends, investors may consider holding their positions in Beyond Frames. The company's focus on diversification and strategic partnerships provides a solid foundation for future growth, despite current financial losses.
Källa
Sammanfattning
During the fourth quarter of 2024, Beyond Frames reported a 7.1% increase in sales compared to the previous year, reaching 43,264 kSEK. However, the operating profit before depreciation (EBITDA) decreased slightly to 3,637 kSEK, and the profit after financial items was negative at -4,395 kSEK. Cash holdings were lower at the end of the quarter, but the company raised additional capital in January 2025 to secure its cash position. For the full year 2024, sales grew by 28.4% to 175,834 kSEK, marking the highest revenue year in the company's history. Despite this growth, the profit after financial items was -19,264 kSEK. The CEO expressed pride in the company's performance amidst industry challenges and highlighted efforts to maintain a secure cash position. In terms of development, Beyond Frames is progressing with its game projects, including a partnership with Devolver Digital and a new Teenage Mutant Ninja Turtles title. The company is optimistic about its publishing pipeline, with successful launches like Combat Waffle’s GRIM and anticipated releases such as Silent North. Market trends show growth in XR, with Meta’s Reality Labs reporting a significant revenue increase and Google re-entering the market with AndroidXR. Changes in the Meta Quest store impacted some of Beyond Frames' portfolio, but the company's diverse strategy helped mitigate potential negative effects. Looking ahead, Beyond Frames sees opportunities in the current economic climate and aims to leverage its strong performance to pursue strategic opportunities. The company remains committed to becoming a leading provider of immersive entertainment.
