Ten Square Games is changing the way it drives growth: rather than focusing primarily on individual major launches, it aims to test new games more quickly, develop proven mechanics across entire product lines, and increase investment only once the data confirms their success.
The first signs of this strategy are evident in the results. In the second quarter of 2026, user payments totalled PLN 93.3 million, 14.6 per cent more than a year earlier, whilst for the half-year as a whole they rose by 11.5 per cent to PLN 191.7 million. Adjusted EBITDA reached PLN 21.4 million, up 13.5 per cent on the previous quarter.
At the same time, TSG is scaling back its ‘growth at any cost’ approach. Marketing expenditure remains more than double that of the previous year, but the company states it will only scale up campaigns when specific player groups deliver the expected return. This is crucial in an increasingly competitive market. Global spending on acquiring mobile game users reached $25 billion in 2025, whilst the number of ad impressions rose by 20 per cent.
This strategy is complemented by the growth of direct-to-consumer (D2C) sales. By June, the D2C channel already accounted for 24 per cent of TSG’s payments, and 33 per cent for Fishing Clash. This helps improve transaction economics and reduce reliance on the Apple and Google app stores.
This direction is in line with changes across the mobile gaming industry as a whole, which is increasingly focusing on monetisation and retaining existing players. In 2025, revenue from in-app purchases in mobile games rose by just 1 per cent, to $82 billion.
For TSG, this marks an attempt to move away from a business model reliant on the success of individual launches towards a more predictable portfolio management approach. However, success will depend on whether Wings of Heroes, Trophy Hunter and new projects actually achieve the performance metrics required for profitable scaling.
