Ten Square Games Q2 2026 Bookings Jump 14.6% with Medal Hunter Global Launch

Ten Square Games Group posted a 14.6% year-on-year rise in Q2 2026 bookings, driven by its core franchises and an expanded product pipeline, which now includes the worldwide launch of Medal Hunter. Bookings for Q2 totalled PLN 93.3 million, with H1 2026 bookings reaching PLN 191.7 million—an 11.5% increase compared to H1 2025. The company highlighted progress stemming from portfolio diversification and data-driven strategies, aiming not to build growth around a single title but a more balanced model.

Core Titles Fuel Bookings Growth

Group CEO Andrzej Ilczuk attributed this quarter's visible portfolio progress to Ten Square Games' renewed strategy. "Q2 shows that our growth strategy is starting to translate into visible progress across the portfolio. We are not building future growth around a single title, but around a more diversified model: a stronger core portfolio, growth titles with further scaling potential and new product lines that can open additional opportunities... Positive signals continued in July, with bookings improving in key titles including Fishing Clash, Hunting Clash, Trophy Hunter and Wings of Heroes," Ilczuk said.

Fishing Clash showed improving KPIs, supporting increased marketing expenditure, as bookings continued their upward trajectory in July. Technical enhancements in Hunting Clash corresponded to month-on-month booking growth for the title. The emphasis remains on refining product performance metrics to justify further investment, consistent with Ilczuk's comments around tangible signals in legacy franchises.

New Launch: Medal Hunter and the Shooter Line Strategy

Medal Hunter made its global debut on July 30, 2026, as the second title in Ten Square Games' shooter portfolio following Trophy Hunter. The company stated that Medal Hunter was developed under a repeatable development framework, taking under 12 months from the global launch of Trophy Hunter. Medal Hunter is now in the scaling and validation phase, with ongoing support contingent on cohort performance in retention, monetisation, and marketing return.

This product line initiative reflects a deliberate shift away from reliance on individual hits in favour of a pipeline model, aiming to replicate success systematically. Trophy Hunter remained a focus, with Q2 dedicated to monetisation improvements, resulting in PLN 5.1 million in bookings in July—reported as the game's second-highest monthly figure. Wings of Heroes updates in Q2 included new progression systems, campaign features, fresh game modes, and a controlled test exploring settings beyond WWII, with evaluation ongoing.

Fishing Trip continues under market testing across additional countries, with potential for a soft launch if future cohort data meets internal benchmarks. The product pipeline's breadth is positioned as a hedge, allowing operational flexibility as market feedback evolves.

Direct-to-Consumer Growth and Payments Strategy

Direct-to-consumer (D2C) sales expanded in Q2 and June 2026, accounting for 24% of group bookings. Fishing Clash saw D2C make up 33% of its bookings and Hunting Clash reached 26%. Newer releases showed lower, though rising, D2C penetration: Trophy Hunter at 11%, and Wings of Heroes at 21%. Medal Hunter launched in July with alternative payment mechanisms from day one, part of the company's move to embed D2C channels earlier in its product lifecycle. This approach aligns with broader shifts in payments strategy across digital gaming.

Financial Performance: Q2 2026 Figures and Capital Allocation

Despite quarter-on-quarter bookings declining due to reduced marketing spend, Adjusted EBITDA rose 13.5% sequentially to PLN 21.4 million. Net profit increased to PLN 14.6 million. CFO Magdalena Jurewicz emphasised the company's balance between investment and discipline, stating, "Q2 shows that we can balance investment in growth with financial discipline... Our approach is data-driven. Every marketing investment must have a clear rationale, a defined payback path and the potential to create value for the Group."

Operating cash flow was reported at PLN 20.1 million. As of June 30, cash and cash equivalents stood at PLN 73.1 million, following a PLN 63.7 million dividend payment and an PLN 18.0 million earn-out obligation related to Rortos. The company describes its current financial position as providing flexibility for selective investment aligned with performance metrics.

Outlook: Portfolio Model and Market Testing

Ten Square Games is maintaining its strategy of portfolio diversification, pairing core titles, growth projects and new lines like shooters to distribute operational risk and opportunities. Market feedback will continue to guide product support and commercial focus. Fishing Trip, still in testing, may progress to soft launch depending on country-level results. Medal Hunter’s continued roll-out depends on real-time cohort analytics around retention and monetisation. The repeatable development template applied here may serve as a reference for further launches, as Ten Square aims to scale up portfolio-based growth while embedding direct payment channels early in new products.