Vivid Games reported results for January. Eroblast and Real Boxing maintained stable revenue levels.
Vivid Games reported results for January.
Eroblast and Real Boxing maintained stable revenue levels.
The Studio's key titles generated revenues in January at December levels, and the reduction in the number of test paid-user acquisition (UA) campaigns helped increase the profitability of the portfolio. The company generated PLN 1.9 million in game sales revenue in January, and EBITDA was PLN 0.2 million. The net result for January, is better than in December. At the end of January, there was PLN 1.0 million in the Company's accounts.
"We are focused on maximizing the profitability of our portfolio. In January we raised profitability on Real Boxing 2 by several percent. We are working to raise margins on other titles as well. We are limiting UA spending to the most secure channels. This, somewhat conservative, strategy allows us to raise profits, despite lower revenues. In late December, the game Knight Fights 2: New Blood returned to distribution. Its distribution, however, had no impact on January results. The title was being prepared for the launch of the UA campaign. Only after technical updates will it be able to generate revenue at the level we expect. The global testing of LoveNest, which began in the last days of January, should allow the title to grow, at least to the level of Eroblast, in the following months" - Piotr Gamracy, member of Vivid Games' Board of Directors, emphas.
"The cost optimization carried out in November is not yet fully reflected in the net result. We are still incurring some employee costs, related to notice periods. The reduction in expenses will not be fully felt in March" - Gamracy adds.
A few days ago, the Company announced the conclusion of an agreement with the NCBiR for funding to implement a technology project, under the Fast Track program. Within a year, Vivid Games will receive PLN 3.8 million in support. The level generator created under the project will accelerate the development of blast segment games.