2024-04-26 11:17:40 ET
Paradox Interactive AB (publ) (PRXXF)
Q1 2024 Results Conference Call
April 25, 2024 6:00 AM ET
Company Participants
Fredrik Wester - Founder, Director & CEO
Alexander Bricca - Chief Financial Officer
Presentation
Fredrik Wester
Hello everyone, and welcome to the Paradox Interactive Q1 livestream with me, Fred, and --
Alexander Bricca
I'm Alex. Welcome, everyone.
Fredrik Wester
And we're going to take you through, some of the things that has happened this quarter, and obviously, the numbers of the quarter as well. So, we might just as well jump right into it, and that's my name right there.
To summarize, where the company is, not over this quarter, but in general. Our core business has really good momentum. We can see that our underlying sales are really good. So if you compare to Q1 last year, it was basically the same in terms of sales numbers -- gross sales.
But this year, we didn't have any revenue from subscription services, for example, which accounted to at least some revenue last year. I don't remember how much. But --
Alexander Bricca
It's an undisclosed amount, but it was significant.
Fredrik Wester
It was a significant amount. We are also, as an industry, experiencing probably the most turbulent period that I've seen since I joined almost 21 years ago into this industry. And we have a very good position with no debt, money in the bank, good cash flow, and with a good delivery on our key IPs. So a lot of opportunities will present itself in a market like this, and we hope to be able to take advantage of at least a few of those.
And obviously, I mean, we have a clear area of improvement for the future, and it's increasing the quality of what we do in all delivery across the whole company....
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Paradox Interactive AB (publ) (PRXXF) Q1 2024 Earnings Call Transcript