It's ironic that when US mobile developer Backflip Studios formed less than two years ago, CEO Julian Farrior was worried he'd missed the smartphone gaming boat.

The announcement that the studio, which focuses on both freemium and ad-funded games, has now surpassed 100 million downloads - 80 percent iOS and 20 percent Android - proves that concern ill-founded however.

Indeed, the company's network of more than 25 games now sees 2.5 million daily active users and over 25 million monthly active users.

Key performers, in terms of download volume are Paper Toss, NinJump, Paper Toss: World Tour, Strike Knight and Ragdoll Blaster 2.

Three-way split

Yet, more than download or activity numbers, what's really significant about Backflip's business is the way it's split in terms of monetisation.

Around a third of revenues come from premium game sales, a third is from advertising and a third from in-app purchases - a balance that's likely unique amongst big mobile developers.

Farrior says the company continues to see its revenue and user numbers growing in the range of two to three-fold year-on-year (both in terms of on monthly and quarterly views).

And particularly impressive is that its advertising network now generates more than 1 billion impressions a month.