Glu Mobile (NASDAQ:GLUU) has announced its figures for Q2 FY12, the three months ending 30 June.
Revenue was $23.6 million, up 33 percent year-on-year.
However, the company made a loss of $3.0 million, compared to a loss of $1.8 million 12 months ago.
This is due to higher operational costs as it has doubled development staff, and continues to spend on user acquisition and building up its gaming community, especially on Android.
During the quarter, Glu said it generated $1.6 million in terms of generated cash flow or $1.2 million when measured by adjusted EBITDA.
Both measures are up significantly from 12 months ago.
On the up
"We are very pleased with our strong execution during the second quarter," stated Niccolo de Masi, Glu's CEO.
"Our ability to grow our quarterly smartphone revenues by 111 percent year-over-year was driven by our strength in freemium, male-oriented games such as Deer Hunter Reloaded and Frontline Commando across iOS, Android, and Amazon.
"We remain excited about our strong slate of sequel and new franchise titles that will launch primarily between September and December. We believe that Glu is well positioned for strength in Q4 and beyond."
Making Android pay
In terms business breakdown, Glu saw its smartphone revenue rise to $19.9 million, up 111 percent. This category - which consists of micro-transactions, in-game advertising and offers - now accounts for 84 percent of its overall revenue.
The company is also acting bullish to further build out its capacity in this area.
It's the first third party developer to use in-app purchasing on Windows Phone, has created its own Glu Credits - the first universal currency on Google Play - as well as launching the Glu VIP Club, an Android subscription service.
This enables players to receive additional Glu Credits as part of a monthly membership fee.
Next challenge
Glu ended the quarter with $24.5 million in cash and cash equivalents, down $7.7 million compared to $28.9 million three months ago.
It expects full year revenue to be $94.4 million to $96.4 million, although this is measured using non-GAAP calculations.
It also predicts it will achieve non-GAAP operating income profitability during Q4 2012.
[source: Glu Mobile]
News
Contributing Editor
A Pocket Gamer co-founder, Jon is Contributing Editor at PG.biz which means he acts like a slightly confused uncle who's forgotten where he's left his glasses. As well as letters and cameras, he likes imaginary numbers and legumes.
Top Stories
as
News
4 hours, 20 minutes ago
Nexon banks on big Dungeon & Fighter Mobile China launch as Q1 revenue declines
as
News
5 hours, 30 minutes ago
Netmarble cuts losses but revenue falls in Q1 after lack of new game releases
News
9 hours, 19 minutes ago
Epic Games hit with €1.1m fine for unfair commercial practices in Netherlands
Feature
May 14th, 2024
Matej Lančarič's Squad Busters deep dive: Under the skin of 2024's biggest launch yet
Feature
May 14th, 2024
53 top mobile games in soft launch: Squad Busters, Battle Guys: Royale, Plants vs. Zombies 3, LEGO Hill Climb Adventures, and more
Events
Valencia Indie Summit 2024 | Europe | May 16th |
Mobidictum Meetup Berlin May 2024 | Europe | May 16th |
Digital Dragons | Europe | May 19th |
GamesBeat Summit 2024 | North America | May 20th |
Mobidictum Meetup Tallinn May 2024 | Europe | May 21st |
Nordic Game Spring 2024 | Nordic | May 21st |
Impact 2024 - Indie Games | May 23rd | |
Morocco Gaming Expo | Africa | May 24th |