everplay Group - strong start to H2 sends forecasts and shares higher
Shares in independent video games developer and publisher everplay group (EVPL) have gained 7% to 453.5p after the firm announced an upbeat trading update. Since the publication of interim results earlier in the month, trading has continued to be very strong.
Wardogs, a 100-player tactical first-person shooter, and Hell Let Loose: Vietnam, a first-person shooter set during the Vietnam war, are said to both be performing ahead of expectations, while back catalogue performance remains resilient. Hell Let Loose: Vietnam has recently exceeded one million copies sold across PC and console. Meanwhile, Wardogs is said to have now sold around three million copies in Early Access on PC since its launch on 10th September, after selling over one million copies on the first day of release.
While the important Q4 period includes a number of high profile launches from other major studios (e.g. Grand Theft Auto VI), revenues and adjusted EBITDA for FY 2026 are now expected to be materially ahead of current market expectations. The consensus following the interim results is for revenues of £197.6 million and adjusted EBITDA of £57.2 million. That compares to FY 2025 when revenues of £166 million and adjusted EBITDA of £48.5 million were posted.
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The business
everplay group, previously known as Team17 until January 2025, is an award-winning and leading global indie games label developer and publisher of premium video games and apps, comprising three distinct divisions: Team17, Astragon and StoryToys.
Team17 is a games developer, publisher and creative partner for indie developers around the world, known for iconic IP such as Hell Let Loose, Worms, Wardogs, Dredge and Overcooked!
Astragon is a leading games publisher, developer and distributor of sophisticated working simulation games, including Construction Simulator and Police Simulator, targeting a broad audience from young enthusiasts to technical experts and casual gamers.
StoryToys is a world-class developer and publisher of educational entertainment apps, bringing the world's most popular characters, worlds and stories to life for children under the age of eight, with apps including Disney Colouring World and LEGO® Bluey.
everplay Group share price performance since IPO
Interims numbers down ahead of an expected stronger H2
Everplay’s recent interims to 30th June 2026 showed revenues down by 8% to £66.9 million, reflecting a period with no major new releases. However, there was a strong performance from the back catalogue which grew sales by £0.8 million to £64.3 million, with contributions from more than 150 titles. Adjusted EBITDA more than halved, down by 52% to £9.2 million, reflecting the lower revenues and investment ahead of the major H2 release programme. everplay ended the period with cash & cash equivalents of £57.1 million, which the firm says provides capacity to fund organic growth initiatives and selective M&A opportunities.
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Disclosures
everplay Group is not a corporate client of Optimo Research Ltd.
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