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Animoca Brands posts record $6m revenue for Q2 2018

Profits come in at $193,000
Animoca Brands posts record $6m revenue for Q2 2018
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Hong Kong-floated publisher Animoca Brands posted a record $6 million in quarterly revenue in Q2 2018.

The figure represents a 355 per cent growth year-on-year. The huge increase was largely put down to the sale of the company’s casual games portfolio to iCandy Interactive in a $3.8 million deal.

Revenue from its userbase meanwhile hit nearly $2.7 million, a rise of seven per cent quarter-on-quarter and 92 per cent year-on-year - also a record.

Profits for Q2 2018 came in at $193,000, making it the company's second consecutive quarter of positive cashflow.

Busy period

The news comes after a busy few months for Animoca that earlier this month saw it raise $4.5 million through a share placement.

The funds are set to be used to push forward the company’s blockchain-focused initiatives, content development, marketing, AI-related investment and potential acquisitions.

New key staff have also joined the company, including Kabam co-founder Holly Liu and Chris Whiteman as non-executive directors, former Rovio EVP of games Wilhelm Taht as strategic advisor.

Animoca has also signed a deal with Beijing Bosi Interactive to give the company exclusive Chinese distribution rights to upcoming ports of Crazy Kings.