Coffee Stain Group FY2026 Q1 Earnings Release

Q1
FY 2026/27

Net sales amounted 253 million
APRIL-JUNE 2026 (COMPARED TO APRIL-JUNE 2025
$ Net sale increased by 37% ( 41% organic ) to SEK 253 million ( 184 ).
$ EBIT amounted to SEK 15 million ( 2 ), an EBIT margin of 6% ( 1% ).
$ Cash EBIT amounted to SEK 95 million ( 36 ) , a Cash EBIT margin of 38% ( 20% ).
$ Cash flow from operating activities amounted to SEK 133 million ( 132 ). Net investments in intangible
assets amounted to SE K -30 ( -43 . Free cash flow after working capital amounted to SEK 100
million ( 85 ).
$ Adjusted earnings per share amounted to SEK 0.25 ( 0.03 ).

XUX:X122e:X\(X1 Apr-Jun
Mar 2026
253 184 961
EBIT
20% 35%
Adjusted EBIT
23% 30%
Cash flow from operating activities 133 132 453
Headcount 246 249 243i>>((AIb@i
COFFEE STAIN GROUP AB (PUBL) | APRIL-JUNE 2026>
be+\2\(I
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fordefinitions
InthisreportDallfiguresinbracketsrefertothecorrespondingperiodofthepreviousyearD be+\2\(I
SEK m

CEO COMMENTS
The>core>portfolio>remained>resilientD>while>weaker>engagement>in>two>recent>releases>>is>shaping>our>
development>priorities>and>next>stepsI
The first quarter generated net sales of SEK 253 million, Cash EBIT of SEK 95 million and free cash flow
after working capital of SEK 100 million. This strong cash generation, despite weaker-than-planned
outcomes in Deep>Rock>GalacticC>Rogue>Core> Fellowship Season 3, demonstrates the resilience of
Satisfactory and the rest of our core portfolio# .
Our proven games continue to generate revenue and cash, giving us room to take selective risks on new
games. But that freedom must be matched by discipline. When the evidence changes, we need to
respond quickly improve the product where we see a credible path, or reduce investment where traction
no longer supports the original case.
Game portfolio
Satisfactory continued to expand its audience, with net sales growing significantly year-on-year. The
console release remained an important contributor, while Update 1.2, released in June, was well received
and further improved the experience for both new and existing players.
Deep>Rock>GalacticC>Rogue>Core
the Deep>Rock
engagement declined faster than expected. We have a clear view of what did not work as intended and
are taking focused action with the development team. Further commitment will depend on evidence of
improved player engagement.
Multiplayer game Fellowship launched Season 3 in June, but engagement remained below our targets.
Following the discussions described in the previous quarter, we have agreed a more sustainable setup
with the external developer. From Q3 FY 2026/27, the game will be developed by a more focused core
team of 15 FTEs, compared with 35 FTE previously. This creates a more efficient development setup,
better aligned with the gameIs current traction and priorities, while materially reducing our ongoing
investment.
Looking ahead
Valheim 1.0 and releases on PlayStation 5 and Nintendo Switch
2, scheduled for September 2026. After six years in Early Access, existing players will finally receive the 1.0
release, while the launches on additional platforms will make the game available to new audiences.
Taking creative risks is part of building games, but so is acting when the evidence changes. As player
response and commercial traction evolve, we adjust the product, the development plan and the level of
investment. The actions will differ by game, but the principle is the same support credible opportunities
and remain disciplined.
This is our model in practice. Our established games provide a solid base and fund selective new bets.
Small, empowered teams can respond quickly. When an outcome falls short, we can adjust our
commitment and limit the downside while preserving the upside.
—————————————————————————————————————————————
Anton>Westbergh
APRIL-JUNE 2026# >
SatisfactoryD>Goat>SimulatorD>>Deep>Rock>GalacticD>Welcome>to>BloxburgD>Teardown>>and>Valheim

FINANCIAL PERFORMANCE
FIRST QUARTER
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2025 Mar 31,
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EQUITY AND LIABILITIES
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Non-controlling interests 17 25 19
Total equity 3,686 1,690 3,644
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Liabilities to owners — 1,631 —
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Provisions — 0 0
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Liabilities to owners — 232 —
Other current liabilities 13 31 13
Accrued expenses and prepaid income
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TOTAL EQUITY AND LIABILITIES 4,027 4,053 4,005
COFFEE STAIN GROUP AB (PUBL) APRIL-JUNE 2026 10

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
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DEFINITIONS OF KEY PERFORMANCE INDICATORS (KPIs)
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<
SimulatorD> SatisfactoryD>
Teardown and
Welcome> to> Bloxburg . The Group consists of around
240 employees and 12 game studios including Coffee
Stain, Ghost Ship and Tuxedo Labs. They share a
common ambition N small teams making big games
for huge audiences N
Coffee Stain Group AB (publ)
Tullhusgatan 1B
SE-652 09 Karlstad
Sweden
coffeestain.com