BoomBit Group financial results for H1 2021
- Record level of revenue from games*: USD 30.4M
- 4 months in a row with revenue surpassing the USD 5M threshold
- Record breaking month in terms of Revenue: USD 7.6M in May
- Revenue increased 134% from USD 8.1M in Q2 2020 to USD 19M in Q2 2021
- Adjusted Net Profit increased 219% from USD 500K in Q2 2020 to USD 1.6M in Q2 2021
- Cash increased 164% from USD 2.8M in Q2 2020 to USD 7.4M in Q2 2021
- 113.9M downloads in H1 2021, 1B downloads milestone reached
- Development of External Publishing with BoomHits
- 3 Successful Joint Ventures
BoomBit, one of the fastest growing mobile gaming companies, summarizes H1 2021.
The record results achieved by the BoomBit Group in H1 2021 are due to the consistent implementation of our strategy based on three pillars of diversified activity. This systematic improvement of results is reflected in the three months in a row of record revenue from games, and the four consecutive months, in which we exceeded the level of USD 5 million in revenue from games. This year, we have already released around 20 games, we are intensively developing BoomHits, our external publishing division, and we have concluded another Joint Venture bringing the total to 3 of these Partnerships to date. We have also devoted a lot of work to the development of proprietary solutions and tech tools in the area of Business Intelligence and User Acquisition, thanks to which we are currently able to conduct effective marketing campaigns for any number of games. All these elements are the basis of the achieved results and a solid foundation on which we want to further build and develop the position of the BoomBit Group in the world – says Marcin Olejarz, Co-CEO of BoomBit S.A.
In H1 2021 BoomBit reached a record revenue level from games of USD 30.4M (+75% YoY). The main driver of this growth was the revenue generated by Hyper-Casual games (USD 21.1M), which are monetized primarily through advertising. Ad revenue increased by 75% YoY and revenue from in app purchases increased by 76% YoY, mainly due to Hunt Royale.
The Group achieved USD 4.9M EBITDA (+22% YoY), and the adjusted net profit was USD 2.6M (+24% YoY).
In Q2 2021 the BoomBit Group had a record level of investment in User Acquisition of USD 11.2M. Most of the campaigns concerned Hyper-Casual games (almost USD 7.7M), and the remaining USD 3.5M were invested in scaling the Mid-Core titles including Hunt Royale, which was a significant increase vs
The number of downloads of the BoomBit Group games reached 113.9M in H1 2021 and the lifetime total number of downloads has passed the 1B threshold. At the current rate of growth, BoomBit should reach the 2B mark in half the time.
Since the beginning of the year, the Group has released a total of 18 games on iOS and Android platforms, developed under the 3 pillars of BoomBit Group activities, including 16 Hyper-Casual titles (incl. Shoe Race, Make It Fly, Kiss in Public, Base Jump Wingsuit Flying and SuperHero Race) and 2 Mid-Core games (incl. Hunt Royale). Among the titles that significantly contribute to the result are also games from 2020 like Slingshot Stunt Driver (from TapNice studio) and Bike Jump.
The market is extremely favourable. Mobile gaming is still growing and Hyper-Casual games is the leading genre. New gamers, especially from younger generations, want to explore Hyper-Casual games, increasing the audience. We are focused on what we do best, game production and publishing and we are constantly looking for further development opportunities. Our main strategy is to scale and grow across all three business lines: In-House Development, our Publishing Division, BoomHits and our various Joint Ventures which are performing extremely well. After the successful cooperation with TapNice in 2020, we established 2 further Joint Ventures, this time ADC Games with a British developer and Skyloft with the Turkish studio responsible for one of the great publishing successes of the BoomBit Group this year – Shoe Race – adds Hannibal Soares, Co-CEO of BoomBit S.A.
*Including revenue from soft launch, which according to Groups’ accounting policy are capitalised as development costs.