Market stays cautious on ASX gamers as profit results come in
Tech
Tech
Some of Australia’s listed gaming companies are beginning to turn some revenue, but the market is still watching cautiously for now.
eSports outfit Emerge Gaming’s (ASX: EM1) half-year results yesterday showed the company booked its first sales revenue of $102,579 in the six months to December.
However, half-year losses increased to $887k as the company booked new expense items across consulting, marketing and research & development.
Blockchain gaming company Animoca Brands (ASX: AB1) presented its full-year results this morning, with operating revenue up 107.5% to $13,461,243 for the year ended December 31.
Animoca’s full year loss decreased to $2.524 million, an improvement on prior-year losses of $8.048 million.
Shares in Animoca were unchanged this morning at 9 cents, while Emerge Gaming dipped by 10 per cent to 1.8 cents per share into midday trade.
Emerge Gaming is still focused on its ArcadeX gaming platform, which it hopes will provide a one-stop streaming shop akin to a “Netflix of gaming”.
Accompanying its audited accounts, the company highlighted three revenue streams it says differentiate it from competitors:
By the end of last year, the company had about 60,000 users on its ArcadeX platform, with plans to expand from Australia to international markets.
The technology allows gamers to play more than 300 gaming titles against each other via mobile, console or PC.
Earlier this month, Emerge shares spiked on news that ArcadeX is set to launch in Australia this month.