Animoca Brands achieves solid increase in revenue supported by core mobile games business
Monday, 2 September 2019 Animoca Brands Corporation Ltd (ASX:AB1) has reported operating revenue of $8.3 million for the half-year ended June 30, 2019 which is a 47% year-on-year increase. The company has achieved a solid increase in revenue supported by the strong performance of its core mobile games business, as well as incremental contributions from the developing blockchain game segment. Animoca ended the half-year with $16.6 million in cash, digital and financial current assets, up 177% year-on-year, due to an increase in cash generation and an increase in the value of digital assets. The company believes these results are an indication not only of the health of its core mobile games business but also of the potential of its partnerships with iClick and Talenthouse in mobile marketing and the strong foundation it has laid in blockchain gaming. Exciting quarter ahead Animoca has good reasons to be excited about the coming quarter, which will see the performance of Crazy Defense Heroes for Google Play (officially launched at the end of Q2). Furthermore, later in Q3 the company’s subsidiary Pixowl will launch The Addams Family Mystery Mansion, and The Sandbox will release its marketplace. Animoca’s core mobile games business continues to tick over, with strong performance from existing titles like Crazy Kings and Crazy Defense Heroes, as well as new branded titles for the films Wonder Park from Paramount Pictures and, post the half-year, The Addams Family from MGM. Burgeoning blockchain gaming business The half-year saw the company’s burgeoning blockchain gaming business begin to generate revenues, led by the flagship in-house titles F1® Delta Time and The Sandbox. Animoca has worked quickly to consolidate a leadership position in the sports vertical category of blockchain gaming, and has done so via both development and acquisition. In March, the company revealed that it had signed a global licensing agreement with Formula 1® to develop and publish the blockchain game F1® Delta Time based on non-fungible tokens (NFTs). The company then auctioned the first three collectible F1® NFT cars, the first of which sold for 415.9 ETH (about $160,000 at the time of auction). Animoca also announced the acquisition of Stryking Entertainment (to be finalised in second half of 2019), a leading Germany-based company and the operator of the popular fantasy sports game Football-Stars, who holds an official license from the Bundesliga soccer league as well as the globally popular team Bayern Munich. The company has also become the exclusive partner in Asia for Lucid Sight, whose portfolio includes the blockchain game MLB Champions, an officially licensed product of Major League Baseball and the Major League Baseball Players Association.
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