Vivid Games has reported results for June. The company is focusing on the development of new projects.
11.07.2023
Vivid Games has reported results for June.
The company is focusing on the development of new projects.
Vivid Games generated PLN 1.6 million in sales revenues and a small loss of PLN 40,000 in June, due to a seasonal decline in the profitability of UA campaigns. Revenues for the first half of the year are close to PLN 12 million, with a net profit of PLN 0.5 million and EBITDA of PLN 2.3 million. In recent weeks, the Company paid off the penultimate arrangement installment and concluded an agreement for a new game with BoomBit, which is important for the implemented strategy. It also announced the release of a port of the game Eroblast for the Nintendo Switch console, which will hit players on July 14.
"The results for June are in line with our forecasts. We see a seasonal deterioration in UA's results. We have also already felt a decline in advertising rates in June, which negatively affected the effectiveness of ad monetization. We anticipate that the trend should reverse after the vacations, but the project teams are now focusing on implementing mechanisms that will increase the profitability of monetization from micropayments in the following months" - emphasizes Piotr Gamracy, CEO of Vivid Games. "In parallel, we are working on the development of new games and looking for more partners. In addition to Real Boxing 3, we are starting work on Easy Boxing, which will be released and promoted by BoomBit. Before the end of the vacations, we should also know the commercial success of the port of Eroblast for Nintendo Switch, which will go on sale in the US and Europe on July 14" - adds the CEO.