Goodbye Kansas Group Interim Report, Apr-Jun 2026

Second quarter, April 1 – June 30, 2026

• Growth in Net sales 52% vs Q2 2025, 15% vs Q1 2026
• Net sales amounted to SEK 65.6 million (43.1), up SEK 22.5 million versus same period last year.
• Order intake amounted to SEK 57.5 million (23.7), an increase of 143 percent versus same period last year.
• The order book amounted to SEK 50.1 million (17.5) at the end of the quarter, up SEK 32.6 million or 186 percent versus same period last year.
• Gross profit amounted to SEK 49.0 million (32.2), up SEK 16.8 million versus same period prior year.
• Operating profit before depreciation and amortization (EBITDA) amounted to SEK 5.7 million (-12.4), up SEK 18.1 million versus same period prior year.
• Operating profit (EBIT) amounted to SEK 5.3 million (-12.8), up SEK 18.1 million versus same period last year.
• Profit before tax amounted to SEK 4.9 million (-13.1), up SEK 18.0 million vs same period prior year
• Earnings per share before dilution amounted to SEK 0.13 (-1.17) and after dilution SEK 0.13 (-1.17).
• Cash and cash equivalents amounted to SEK 10.2 million (3.1) as of June 30, 2026.
• The Group’s net debt, long-term liabilities and short-term interest-bearing liabilities minus cash and cash equivalents, amounted to SEK 5.5 million (7.9) as of June 30, 2026.

First half-year, January 1 – June 30, 2026

• Growth in Net sales 38% vs H1 2025, 42% vs H2 2025
• Net sales amounted to SEK 122.5 million (88.5), up SEK 34.0 million versus same period last year.
• Order intake amounted to SEK 68.3 million (83.0), a decrease of 18 percent versus same period last year.
• The order book amounted to SEK 50.1 million (17.5) at the end of period, up SEK 32.6 million or 186 percent versus same period last year.
• Gross profit amounted to SEK 93.5 million (70.2), up SEK 23.3 million versus same period prior year.
• Operating profit before depreciation and amortization (EBITDA) amounted to SEK 7.9 million (-15.5), up SEK 23.4 million versus same period prior year.
• Operating profit (EBIT) amounted to SEK 7.0 million (-16.3), up SEK 23.3 million versus same period last year.
• Profit before tax amounted to SEK 7.1 million (-18.6), up SEK 25.7 million vs same period prior year
• Earnings per share before dilution amounted to SEK 0.19 (-0.56) and after dilution SEK 0.19 (-0.56).
• Cash and cash equivalents amounted to SEK 10.2 million (3.1) as of June 30, 2026.
• The Group’s net debt, long-term liabilities and short-term interest-bearing liabilities minus cash and cash equivalents, amounted to SEK 5.5 million (7.9) as of June 30, 2026.

Significant events during the second quarter

• On April 1, 2026, Goodbye Kansas Group announced the order of a significant Visual Effects (VFX) contract for an upcoming international independent feature film. The project, which the production company has described as “one of the most ambitious projects we’ve ever undertaken,” will showcase the studio’s world-leading expertise in high-fidelity creature work and emotive storytelling.
• On April 10, 2026, Goodbye Kansas Group announced a prestigious contract for the end-to-end production of a high-fidelity cinematic trailer for an upcoming AAA game title. This project represents a significant expansion of the company’s global footprint, successfully broadening our operational reach and diversifying its international portfolio.
• On May 21, 2026, Goodbye Kansas announced a major order to produce high-fidelity in-game cinematics for a highly anticipated upcoming title based on a globally recognised entertainment IP. The order value amounts to approximately SEK 26 million, with final delivery expected during Q4 2026.

Significant events after the period

• On July 27, 2026, Goodbye Kansas announced it signed a new project within the Experiential business segment, marking the start of a strategic relationship with a new international client. The project represents a key win for Goodbye Kansas, validating its capabilities in delivering high-fidelity immersive content.

CEO comments

Dear shareholders,

Q2 represented another positive step for Goodbye Kansas. Q1 marked the return to profitability. Q2 shows that this was not a one-off. The first half of the year shows material year-over-year improvement across all principal financial indicators, with continued positive EBITDA momentum compared with the same period last year. Our focus remains clear: to turn Goodbye Kansas’ creative and technical strengths into a sustainably profitable company that creates long-term shareholder value.

Profitability remains the priority

The year-to-date improvement in profitability is not the result of one single action. In a project-based business, client timing and production schedules can vary between quarters. That makes cost discipline, project control, clearer focus and a disciplined approach to pricing, scoping, resourcing and delivery especially important.

Growth matters, but growth alone is not enough. We will continue to focus on projects where client value, pricing, resource planning and delivery model are aligned from the start. This is how we support sustainable margins over time and build a stronger company.

Business area development

Our business continues to develop across Games, Animation, VFX and Experiential

Games remains the engine of Goodbye Kansas. The value of our games work also extends beyond one business area. The standards required in high-end cinematics, performance capture, digital humans, animation and real-time workflows strengthen the capabilities we bring into the wider business. Games is therefore not only a revenue driver. It gives us the capabilities and credibility to expand Goodbye Kansas into adjacent areas.

The market continues to evolve quickly. Clients are looking for partners that can combine creative quality, technical depth and reliable delivery. That plays to our strengths. As a specialist partner serving the vast global games services market, Goodbye Kansas does not need a large share of that market to build a profitable business. We need to win the right projects, with the right clients, where our capabilities can make the greatest difference.

In VFX, our approach remains selective and profitability-focused. We will pursue work where creative complexity, client value and project economics align with our strengths. VFX remains an important part of our offering, but we will not chase volume where the commercial conditions do not support our financial objectives.

The Experiential market segment represents a significant growth opportunity for Goodbye Kansas. It allows us to apply our visual storytelling, real-time technology, digital human expertise and high-fidelity content capabilities in new commercial contexts, including immersive and location-based experiences. Importantly, this is not a disconnected new initiative. It is a way to build from the technology platform, creative talent and production expertise we already have.

We have also taken meaningful steps with strategic partners in this area, supporting our belief that Goodbye Kansas can be a relevant creative and technical partner in a growing experiential market. The case study in this report provides further context on why we see Experiential as a natural extension of Goodbye Kansas’ existing strengths, and as an opportunity for long-term profitable growth.

Across all business areas, sales pipeline conversion remains a key priority. Clearer business-area ownership is designed to bring commercial opportunity, resourcing and delivery accountability closer together, helping us convert qualified opportunities into profitable work more consistently.

Productisation and Freya

Goodbye Kansas remains primarily a project-based business. That is our foundation, and it remains the core of what we do. At the same time, one of our long-term priorities is to explore how parts of our creative and technical expertise can be shaped into more scalable tools and offerings.

Productization is not about moving away from our core business. It is about building on it.

Project Freya is an example of this work: a facial animation solution based on Goodbye Kansas’ creative and technical expertise, designed to address a major production challenge by helping clients create high-quality facial animation in a way that can be more efficient, consistent and scalable.

We are approaching this work in a disciplined and client-led way. Project Freya is now in active validation with selected key partners, and the soft launch is being prepared in parallel. The ambition is to support revenue opportunities that are more scalable over time than traditional project work.

Together, the formation of a dedicated Experiential business unit and the continued development of Project Freya show how Goodbye Kansas can build on existing strengths while remaining focused on profitability, commercial discipline and client value.

Looking ahead

The first half strengthens our confidence in achieving profitability for the full year. We will continue to balance that objective with selective investment in growth areas that can strengthen the company over time.

Q2 was another positive step. Our focus in the second half of the year is clear: maintain financial discipline, convert the sales pipeline into profitable projects, and deliver the creative and technical quality required by the world’s most prestigious entertainment companies.

Carsten Myhill
CEO
Goodbye Kansas Group AB

For further information, please contact:
Carsten Myhill, Group CEO, Goodbye Kansas Group
E-mail: carsten.myhill@goodbyekansas.com
Direct: +46 8-556 990 00

About Goodbye Kansas Group
Goodbye Kansas Group is a provider of technology-driven visual content, developing visual effects (VFX), animations, game trailers and In-Game solutions. The Group has some of the world's leading entertainment companies as its clients. Goodbye Kansas Group is headquartered in Stockholm and is listed on the Nasdaq First North Growth Market with Bergs Securities as Certified Adviser.

This information is information that Goodbye Kansas Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2026-07-29 08:00 CEST.