LONDON, 14th of April 2021 – Flexion Mobile Plc (Nasdaq: FLEXM), the Android games distribution company today releases its 4th quarter trading update which completes an exceptionally strong financial year where the company grew its core business with an estimated 160%.
Flexion estimates revenue and margin growth above expectations for the traditionally slower 4th quarter. Gross margin was slightly more volatile than revenue, partly due to FX effects and to short term movement of key titles.
Quarterly estimates for March 2021:
Revenue
- IAP revenue estimated to increase by 144% (YoY) and -4% (QoQ) to GBP 6.5m
- Total revenue estimated to increase by 136% (YoY) and -4% (QoQ) to GBP 6.6m
Gross Profit
- IAP gross profit estimated to increase by 145% (YoY) and -16% (QoQ) to GBP 0.7m
- Total gross profit estimated to increase by 114% (YoY) and -9% (QoQ) to GBP 0.8m
Yearly estimates for financial year March 2021:
Revenue
- IAP revenue estimated to increase by 160% to GBP 24.2m (GBP 9.3m)
- Total revenue estimated to increase by 158% to GBP 24.4m (GBP 9.5m)
Gross Profit
- IAP gross profit estimated to increase by 186% to GBP 2.9m (GBP 1.0m)
- Total gross profit estimated to increase by 178% to GBP 3.2m (GBP 1.2m)
During the quarter three new games were signed. A five-title agreement with contractual expiry in December 2020 was extended for at least six months and an important two-year agreement for a top-tier game with expiry in April 2021 was automatically renewed after exceeding financial performance targets. Flexion does not currently have any future Minimum Guarantee exposure and all extensions were achieved without any such guarantees. Flexion currently has 21 live titles including the recently launched Clash of Empire and six games pending launch.
Final numbers will be presented in the quarterly report on 15th June 2021.
For more information
Niklas Koresaar CFO, Email: ir@flexionmobile.com. Tel: +44 207 351 5944
This is information that Flexion Mobile Plc is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 CET on April 14th, 2021.
About Flexion Mobile Plc: Flexion offers a distribution service for free-to-play Android games. The service allows developers to distribute their games in multiple channels such as Huawei, Amazon, Samsung, ONE store and Xiaomi. These are channels that developers are struggling to reach and support without Flexion. At the core of the service is Flexion’s patented enabling and enhancement software that converts existing Android games into specific game versions for each store without any work required by the developers. Flexion Mobile Plc is listed on Nasdaq First North Growth Market, Shortname: FLEXM. Certified Adviser is FNCA Sweden AB, +46(0)8-528 00 399, info@fnca.se.