Canadian free-to-play mobile game developer Leaf Mobile revealed its Q3 2021 financials for the period ending September 30th 2021.
The studio reported it generated $15 million in revenue for the period, an increase of 3.8 per cent year-over-year
The firm’s revenue for the nine months to date reached approximately $51.1 million, a rise of $32.1 per cent.
Adjusted EBITDA reached $6.3 million for the nine month period, an increase of 16.5 per cent compared with the same period the year prior.
Historically slow quarter
"We saw steady results for our third quarter, which is historically our slowest quarter and the slowest for the mobile game industry as a whole," said Leaf Mobile CEO Darcy Taylor.
"This quarter we also continued to see the global reopening amplify traditional seasonality and Apple’s App Tracking Transparency introduction still working its way through the mobile marketing ecosystem.
"In response to this transitory period, we maintained our reduced marketing investments in our games to more measured levels until the final month of Q3, as we started to increase user acquisition investments when we started to see positive signs of ecosystem adaptation working their way through the industry, while continuing to focus resources on our ramping pipeline of Q4 game launches."
Looking forward, Leaf released its first game in Q4, RuPaul’s Drag Race Superstar on October 25th. It has since surpassed 1 million downloads and avergaes 150,000 daily active users.
As of November 11th, the title was ranked the number one role playing or simulation game on the App Store in 44 countries.
In September, Leaf announced the development of The Office: Somehow We Manage, a role-playing game based on the American version of workplace sitcom, The Office.