MOV MOVIE GAMES Giełda Papierów Wartościowych w Warszawie · Quarterly · publ. May 29, 2026

Q1 2026 report

Przychody Grupy spadły drastycznie (-66% r/r, do 1,25 mln PLN) - efekt wygasania sprzedaży Drug Dealer Simulator 2 bez nowej premiery w kwartale

Sentiment

Neutral No guidance change

Website

MOV Q1 2026 report

Revenue

1,250 k PLN

— YoY

Net income

-469 k PLN

— YoY

EBITDA

410 k PLN

— YoY

FCF

-230 k PLN

— YoY

Summary

Investment thesis

Strata netto (-469 tys. PLN przypisana akcjonariuszom) jest znacznie mniejsza niż rok wcześniej (-2 976 tys. PLN), głównie dzięki braku jednorazowych kosztów finansowych z 2025 r.
Bilans wciąż silny: pozycja gotówki netto (dług netto -760 tys. PLN), kapitał własny 14,1 mln PLN, zobowiązania minimalne (4,9 mln PLN)
Nowy istotny czynnik ryzyka: pozew od Rafała Pęcherzewskiego (Byterunners) na 6,5 mln PLN o podwyższenie wynagrodzenia za DDS1/DDS2 - to ponad 46% kapitałów własnych Grupy
Kluczowe wydarzenie do obserwacji: premiera konsolowej wersji Drug Dealer Simulator 2 zapowiedziana na 17 czerwca 2026

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Financials

BETA

Q1 2026

MOV · Q1 2026

Metric	Q1 2026	Q1 2025	Δ YoY	Value type	Segment	Conf.

Revenue	1,250	—	—	reported	—	1.00
EBITDA	410	—	—	reported	—	1.00
EBIT	-419	—	—	reported	—	1.00
EBT	-367	—	—	reported	—	1.00
Net income	-469	—	—	reported	—	1.00
EPS (basic) (PLN)	-0.18	—	—	reported	—	1.00
EPS (diluted) (PLN)	-0.18	—	—	reported	—	1.00
D&A	829	—	—	reported	—	1.00
Interest expense	29	—	—	reported	—	0.80
Shares (basic) (m units)	2.57	—	—	reported	—	1.00
Shares (diluted) (m units)	2.57	—	—	reported	—	0.80

EBITDA margin	32.8%	—	—	reported	—	1.00
EBIT margin	-33.52%	—	—	reported	—	1.00
Net margin	-37.52%	—	—	reported	—	1.00
D&A margin	66.32%	—	—	reported	—	0.90

Cash	1,359	—	—	reported	—	1.00
Total debt	599	—	—	derived	—	0.90
Net debt	-760	—	—	derived	—	0.90
Equity	14,054	—	—	reported	—	1.00
Total assets	20,582	—	—	reported	—	1.00
Working capital	2,927	—	—	reported	—	0.90
Current assets	4,219	—	—	reported	—	1.00
Current liabilities	1,292	—	—	reported	—	1.00
Goodwill	13,678	—	—	reported	—	0.60

CFO	804	—	—	reported	—	1.00
CapEx	1,034	—	—	reported	—	1.00
FCF	-230	—	—	derived	—	0.90
FCF conversion	-56.1%	—	—	reported	—	0.80
CFO conversion	196.1%	—	—	reported	—	0.80

Current ratio	3.26x	—	—	reported	—	1.00
Quick ratio	3.26x	—	—	reported	—	0.90
Cash ratio	1.05x	—	—	reported	—	0.90
Interest coverage	-14.45x	—	—	reported	—	0.60

Debt / equity	0.04x	—	—	reported	—	0.85
Net debt / equity	-0.05x	—	—	reported	—	0.85

Revenue growth (YoY)	-66.24%	—	—	reported	—	1.00
EBITDA growth (YoY)	-82.81%	—	—	reported	—	1.00
EBIT growth (YoY)	-173.9%	—	—	reported	—	1.00
Net income growth (YoY)	84.24%	—	—	reported	—	1.00
EPS growth (YoY)	84.48%	—	—	reported	—	1.00
EBITDA margin Δ (YoY)	-31.6 pp	—	—	reported	—	1.00
EBIT margin Δ (YoY)	-48.83 pp	—	—	reported	—	1.00
Net margin Δ (YoY)	42.85 pp	—	—	reported	—	1.00

Q1 2026 · Δ YoY

Revenue

1,250 —

Q1 2025: —

EBITDA

410 —

Q1 2025: —

EBIT

-419 —

Q1 2025: —

EBT

-367 —

Q1 2025: —

Net income

-469 —

Q1 2025: —

EPS (basic) (PLN)

-0.18 —

Q1 2025: —

EPS (diluted) (PLN)

-0.18 —

Q1 2025: —

D&A

829 —

Q1 2025: —

Interest expense

29 —

Q1 2025: —

Shares (basic) (m units)

2.57 —

Q1 2025: —

Shares (diluted) (m units)

2.57 —

Q1 2025: —

EBITDA margin

32.8% —

Q1 2025: —

EBIT margin

-33.52% —

Q1 2025: —

Net margin

-37.52% —

Q1 2025: —

D&A margin

66.32% —

Q1 2025: —

Cash

1,359 —

Q1 2025: —

Total debt

599 —

Q1 2025: —

Net debt

-760 —

Q1 2025: —

Equity

14,054 —

Q1 2025: —

Total assets

20,582 —

Q1 2025: —

Working capital

2,927 —

Q1 2025: —

Current assets

4,219 —

Q1 2025: —

Current liabilities

1,292 —

Q1 2025: —

Goodwill

13,678 —

Q1 2025: —

CFO

804 —

Q1 2025: —

CapEx

1,034 —

Q1 2025: —

FCF

-230 —

Q1 2025: —

FCF conversion

-56.1% —

Q1 2025: —

CFO conversion

196.1% —

Q1 2025: —

Current ratio

3.26x —

Q1 2025: —

Quick ratio

3.26x —

Q1 2025: —

Cash ratio

1.05x —

Q1 2025: —

Interest coverage

-14.45x —

Q1 2025: —

Debt / equity

0.04x —

Q1 2025: —

Net debt / equity

-0.05x —

Q1 2025: —

Revenue growth (YoY)

-66.24% —

Q1 2025: —

EBITDA growth (YoY)

-82.81% —

Q1 2025: —

EBIT growth (YoY)

-173.9% —

Q1 2025: —

Net income growth (YoY)

84.24% —

Q1 2025: —

EPS growth (YoY)

84.48% —

Q1 2025: —

EBITDA margin Δ (YoY)

-31.6 pp —

Q1 2025: —

EBIT margin Δ (YoY)

-48.83 pp —

Q1 2025: —

Net margin Δ (YoY)

42.85 pp —

Q1 2025: —