Chinese/US internet outfit NG Mobile (NYSE: NQ), which includes games outfit FL Mobile, has announced its unaudited financials for its FY13 Q3, the three months ending 30 September 2013.
Net revenues were $54.2 million, up 110 percent year-on-year.
Mobile Value Added Service revenues, including consumer mobile security and mobile game revenues, rose 46 percent to $26.9 million.
NQ Mobile said the increase in mobile games revenues was primarily due to the rapid user growth of FL Mobile's game platform and the launch of new games in the third quarter of 2013.
The company made a loss, however, of $3.1 million, mainly due to a $20.1 million share-based compensation expense.
Platform play
In term of reach, NG Mobile has 427 million cumulative registered user accounts; a number that includes 98 million FL Mobile (aka Beijing Feiliu Jiutian Technology Co) registered user accounts.
In terms of active monthly accounts the totals for the companies were 133 million and 19 million, respectively.
FL Mobile operates 22 iOS games and 52 Android games, of which 11 titles ranked in the top 100 top grossing charts. Three iOS games were top 30 top grossing in the Chinese App Store.
FL Mobile's DAU total across all titles was 127,448.
Buying frenzy
"I am pleased to report that we once again achieved record revenues in the third quarter of 2013," commented NQ Mobile's chairman and co-CEO Dr. Henry Lin.
"The realization of our platform business model is showing up in tangible ways. We are now not only generating consumer security subscription revenues, but also significant gaming, advertising and enterprise mobility revenues as well."
During the quarter, NQ Mobile completed its purchase of NationSky, buying the remaining 45 percent in the mobile device management company for $11 million cash and 12 million restricted shares.
It also bought offer-wall based mobile advertising network Best Partner for 10 million shares, mobile healthcare provider Beijing Tianya Co., Ltd. for $162,000 and 5.9 million shares, and 49 percent of Chinese off-line user acquisition channel Beijing Fanyue for $86,000 and 7.6 million shares.
The company ended the quarter with cash and equivalents worth $150 million.
[source: NQ Mobile]
