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Glu Mobile sees FY14 Q2 revenue up 68% to $40.9 million

Glu Mobile sees FY14 Q2 revenue up 68% to $40.9 million

Glu Mobile (NASDAQ: GLUU) has announced its FY14 Q2 financials, for the three months ending 30 June 2014.

Revenue was $40.9 million, up 68 percent year-on-year.

However, the company made a net loss of $3.9 million, compared to a net loss of $2.9 million 12 months ago.

It generated $5 million in operational cash flow compared to using $1.9 million of cash in FY13 Q2.

The rewards of fame

There were a number of reasons for the growth in revenue.

In part it was due to the continued strong performance of the Deer Hunter 2014 and Eternity Warriors 3 games during the quarter.

More recently, though, Glu has seen strong success with Dino Hunter: Deadly Shores - its dinosaur retheming of Deer Hunter - and casual celebrity-branded game Kim Kardashian: Hollywood.

The latter has been in the US top 10 top grossing chart since release.

However, it didn't impact this quarter's performance too heavily as the game was globally released on the last week in June, hence the posting of a GAAP loss for the quarter.

Future bright

"As a result of these titles' momentum, we now expect company record non-GAAP revenue and adjusted EBITDA in Q3," noted CEO Niccolo de Masi.

Non-GAAP net income is expected to be between $10 and $12 million in Q3.

De Masi also said the company expected 2014 non-GAAP revenue to be between $222 million and $232 million, with Glu predicted to end the year with $64 million in cash.

[source: Glu Mobile]


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.

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