Vivid Games accelerates work on Real Boxing 3, focusing on building a global brand.
11.10.2024
Vivid Games accelerates work on Real Boxing 3, focusing on building a global brand.
The company reported preliminary financial results for September and the third quarter of 2024, reporting September sales revenues of PLN 0.8 million and a relatively small net loss. Cumulative EBITDA for the three quarters was PLN 1.43 million. These results are in line with earlier forecasts and reflect the current stage of the production cycle of key projects.
In September, the company secured a strategic investor, allowing it to accelerate work on its flagship title, Real Boxing 3, a key component in building its global brand. The Company's internal analyses and the forecasts of its business partners confirm the right direction. Management Board anticipates the new game will contribute to significant revenue growth in 2025. At the same time, the company continues to develop older productions, such as Real Boxing 2, and testing several smaller games based on technology developed under the Zozole Run project.
Piotr Gamracy, CEO of Vivid Games, stresses that short-term results, including lower revenues in the third quarter, are in line with plan and natural in a phase of intensive investment. “We accept temporary losses - the historical portfolio is not able to provide us with the expected growth. We are investing in the development of new products that are key to building long-term value for the company. Real Boxing 3 has the potential to become a global blockbuster, and our international partnerships provide a solid foundation to realize this vision. Such projects don't happen overnight - they require patience, the right partnership structure and a strategic approach. We also plan to test smaller titles based on the technology developed with Zozole Run, which should positively impact revenues in the shorter term as well.” - Gamracy emphasizes.
The capital raised in September and the international relationships developed, including through a review of strategic options, make it possible to implement a long-term strategy. Vivid Games' management is confident that the current operations will be successful, and the company will rebound financially in future periods, focusing on long-term value growth.