Half Year 2026 Ten Square Games S.A. Earnings Call Transcript
Key Points
- Improved KPIs in Fishing Clash, allowing for increased marketing spend while maintaining the same benchmarks, despite the game being nearly a decade old.
- Trophy Hunter's bookings per player improved nearly threefold, with July bookings reaching PLN5.1 million, aided by successful LiveOps operations.
- Successful launch of Medal Hunter, which achieved twice the downloads of Trophy Hunter in the same initial period and reached new markets like South Korea.
- The product line model is working, with Medal Hunter developed in 12 months at a cost of less than PLN2 million, enabling faster and cheaper game development.
- D2C platform is gaining traction, with 24% of revenue coming through direct channels, including a 33% share for Fishing Clash and 26% for Hunting Clash.
- Real Flight Simulator revenues slightly declined in Q2 due to a new feature in a competitive game causing some players to hop between titles.
- Trophy Hunter experienced production problems with one feature, causing a delay, which the CEO personally acknowledged as a concern.
- Medal Hunter's marketing costs are higher than Trophy Hunter's initial spend, and the company is still in the observation phase for algorithm optimization.
- New players are less eager to use alternative payment methods, which is a slight problem for the D2C platform's growth in newer titles.
- The company is cautious about the potential of Fishing Trip, noting it is too early to assess its potential as monetization has not yet been implemented.
Good morning or good afternoon to our earnings call for the second quarter of 2026. My name is Andrzej Ilczuk, and with me is Magdalena Jurewicz, our CFO; and Janusz Dziemidowicz, our CTO; and Nina Grabos, who is our Investor Relations Officer.
Let's move on to our performance in the second quarter where we consistently implemented our strategy which is based on three pillars. So, stabilizing the core portfolio, strengthening our growth titles and thirdly, building new product lines. By way of introduction, we have seen an improvement in our performance, so we can improve -- we can increase our marketing spend. In Trophy Hunter and Wings of Heroes, we have improved metrics, and we launched our Medal Hunter, which we are very pleased of. Before we discuss all those games individually, let us give you some background information about how we do marketing.
Right. Before we move on to the business results
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