Score! Mobile gaming has handed Animoca Brands a flawless victory in Q2
Link copied to
Special Report: Positive operating cash flow? Record customer receipts? Record revenue? It’s all in a quarter’s work for mobile gaming tech company Animoca Brands.
The Animoca Brands (ASX:AB1) share price closed up 17 per cent on Wednesday, to 20c, after the company released its quarterly report featuring a host of impressive figures.
Unaudited revenue for the June quarter was $8.7 million, comfortably the highest in the history of the company. That was on the back of a record $9.1 million in customer receipts, up 117 per cent quarter-on-quarter.
The company estimates that its half-year revenue will total $13 million, also a record. It also nearly doubled its cash position to $10.2 million, with expected cash outflows in the September quarter of $7.1 million.
All in a great quarter’s work, according to chairman Yat Siu. And Animoca’s just getting started.
“We’re extremely grateful for the support that Animoca Brands has received from investors so far in 2019 and we look forward to creating more value for shareholders,” Siu told Stockhead.
“Having just reported the best quarterly revenue and cash receipts in our company’s history, we believe that we are on the right track and well prepared for future challenges and opportunities.”
The momentum has been built on a slew of recent announcements that have made Animoca Brands one of the quickest-moving small cap tech stocks on the ASX.
The company has signed a number of deals in the lucrative mobile sports games market, including an investment into Lucid Sight, US-based developer of a blockchain-based game for Major League Baseball and an acquisition of German-based Stryking Entertainment, owner of popular fantasy sports game Football-Stars. It also kicked off its blockchain-based official Formula 1 game, F1 Delta Time.
The quarter also included a successful $4.6 million cap raise, a significant investment into Hong Kong-based mobile games developer Skytree Digital as well as several other acquisitions that further strengthen the company’s developmental capabilities.