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M PLAY MAGNUS GROUP OF COMPANIES Play Magnus Group ( PMG ) - Q3 2021 : Continued Strong Growth in Q3 2021 with Bookings up 210 % Y / Y and Revenue up 176 % Y / Y 17.11.2021 07:00:00 CET | Play Magnus AS | Half yearly financial reports and audit reports / limited reviews ( Oslo , 17 November 2021 ) - Play Magnus Group , a global leader in the chess industry , today published its financial results for the third quarter 2021. In the third quarter , bookings grew by 210 percent year over year to USD 6.0 million and revenue grew by 176 percent year over year to USD 5.5 million . The growth was driven by strong performance in the Courses segment and increased partnerships for the Tour which ended a successful first season during the Final in October 2021. Organic growth in bookings was 149 percent year over year in the third quarter . " With 650 million players worldwide , we have only begun to tap the surface of the potential of chess as a game , sport and educational tool . We have a strong financial platform and are continuing to set up the Group for long - term growth , " said Andreas Thome , CEO of Play Magnus Group . In 2021 , the elearning segment added high - quality learning content from the world's leading chess players as well as through a string of acquisitions . " Looking ahead to 2022 we will focus on user growth , engagement and retention on our Chessable platform and begin scaling the Classroom to establish a footprint in the US scholastic market for chess , " said Andreas Thome , CEO of Play Magnus Group . In parallel , Play Magnus Group has continued to strengthen its esports business . Play Magnus Group is taking a leading role in establishing chess in the professional sports world exemplified through signing global partners such as Mastercard and exploring growth areas such as NFTS . " In November 2021 , we are releasing our new playing experience and mobile app for chess24 which will allow us to grow our userbase and begin competing and innovating in the play segment of chess , " said Andreas Thome . Near term , Play Magnus Group is preparing for the upcoming World Championship match between Magnus Carlsen and lan Nepomniachtchi beginning late November which will generate media attention and global excitement around chess . Play Magnus Group invested significantly into growth initiatives and operations , in particular the Meltwater Champions Chess Tour and the development of digital chess services , and in the third quarter 2021 , adjusted EBITDA was negative with USD 3.7 million . Financial highlights in Q3 2021 : • Q3 Bookings USD 6.0 million ( + 210 % Y / Y ) • Q3 Revenue USD 5.5 million ( + 176 % Y / Y ) Q3 Monthly Paying Users 60,300 ( + 69 % Y / Y ) Q3 Average Revenue per Paying User ( ARPPU ) USD 18.2 ( + 29 % Y / Y ) FY 2021 guidance of Bookings USD 23-25 million Q3 Adjusted EBITDA USD -3.7 million Please find enclosed Play Magnus Group's Q3 2021 presentation material . An English language presentation for investors , analysts and media , followed by a Q & A session will be hosted by CEO Andreas Thome and CFO Dmitri Shneider today , 17 November 2021 at 08:00 CET at Høyres Hus , Stortingsgaten 20 , 7th floor , Oslo . The event will also be streamed live as a webcast , and viewers are encouraged to submit questions through the webcast player during and after the presentation . The webcast will be available via the Investor section of the Play Magnus Group website : http://www.playmagnusgroup.com/investor or the following link : https://channel.royalcast.com/landingpage/hegnarmedia/20211117 2 / A recording of the webcast will be available at the same link shortly after the end of the presentation .