DeNA has released its financials for its Q3 FY2019 for the nine months ending December 31st 2019.

The company posted overall revenues of 91.1 billion yen ($830.7 million), down 3.7 per cent year-on-year. However, it also posted a loss of 50.4 billion yen ($459.6 million) for the period, compared to a profit of 8.4 billion yen ($76.6 million) for the same period last year.

Breaking this down further, DeNA's Game Business segment posted revenues of 60.1 billion yen ($548.1 million), down 3.8 per cent year-on-year, and profits of 8.9 billion yen ($81.2 million), down 32.6 per cent year-on-year.

Falling behind

The firm noted that while new releases had started to make contributions to revenue, it was still relying on existing titles for the bulk of its business. A decrease in the sales of virtual currency is blamed for the fall in revenue, with the weaker performance of the entire segment blamed for the company's overall losses.

DeNA was likely banking on major titles such as Pokemon Masters and Mario Kart Tour to fuel its revenues, though neither game has been wildly successful. Pokemon Masters only recently surpassed 20 million players, while Mario Kart Tour is only the fourth-best performing game in Nintendo's suite of mobile titles.

Two of DeNA's games are due to be shuttered in March 2020. Both Torikago Scrap Merch and Fantasy Earth Genesis are to be closed, the latter of which was co-developed with Square Enix.