Flexion sees 52% Q4 revenue growth to $13.8 million

Strongest quarter in company history

Flexion sees 52% Q4 revenue growth to $13.8 million

Flexion Mobile has released its Q4 financials for the period ending December 31 2021, reporting a revenue increase of 52 per cent to £10.5 million ($13.8 million).

The firm reported gross profits of £1.5 million ($1.98 million), an increase of 63 per cent year-over-year. Net profit for the quarter was £600,000 ($790,000).

Additionally, adjusted EBITDA for the period reached £330,000 ($434,000), a rise of 163 per cent.

Flexion published three titles during the quarter, Evony: The King’s Return, The Ants: Underground Kingdom and Puzzles and Survival, which collectively generated $40 million in consumer spending in December 2021 alone.

Flexion CEO Jens Lauritzson stated that the quarter was the "best so far", and that launching the three aforementioned titles during the Christmas period allowed the company to benefit from store promotions.

Best year yet

"In 2021, we reached critical mass on the platform, and that’s why we now see a positive effect on our EBITDA for each new game we launch," said Lauritzson.

"I am also very happy that we generated £0.6m in net profit for the period partly thanks to the recovery of GBP 0.4m from the impairment write-down we made in March 2020. These titles performed better than expected and are now generating positive contribution (sic)."

Looking forward, the firm forecasts that its annual revenue will rise between 40 to 60 per cent in 2022 setting the firm up for a "strong and exciting" year.

Earlier this year, Flexion made a $500,000 investment to acquire a 20 per cent stake in Liteup Media, a mobile games influencer marketing startup, in a bid to boost revenues for its partners.

News Editor

The man formerly known as News Editor.