CEO search continues at Stillfront as revenue holds steady, key franchises grow 10%

Stillfront said it is still looking for a new chief executive to replace Alexis Bonte as it published its second-quarter results.

The Stockholm-listed mobile games group posted Q2 net revenue of $136m (SEK 1,323m), down from SEK 1,436m a year ago, though organic growth was close to flat at -1.3%. The company said the wider gap reflects FX, divestments and a settlement with rival Gameberry.

Adjusted EBITDAC climbed to $40m (SEK 387m) from $38.6m (SEK 374m), pushing the margin to 29% from 26%, as marketing spend eased after a run of game launches.

The group’s key franchises grew 10% organically, Stillfront said, a second straight quarter of double-digit growth. But smaller titles fell 24%, dragging the average down.

Empire, developed by Goodgame Studios, grew 2% year-on-year, the best quarterly performance since 2024 for the 14-year-old game. A new instalment of the franchise, Empire: Titans and Dragons, is in development.

Albion Online, Sandbox Interactive’s cross-platform MMO, grew 10% following its first console launch on Xbox Series X/S in April. Jawaker grew 11% after a slower first quarter.

Free cash flow came in at $53.5m (SEK 519m) for the quarter, which Stillfront said was going towards paying down debt.

The company also confirmed a strategic review is under way but offered no further details.