BoomBit Group financial results for Q1 2021 – Best Quarter in History

Investor news
27 May 2021

BoomBit, one of the fastest growing mobile gaming companies, summarizes Q1 2021.

  • Record level of revenue from games*: USD 11.3M
  • Expansion of the publishing business
  • Shoe Race success, strong results of Hunt Royale

We achieved a record level of revenue from games in Q1 2021 and exceeded 900 million lifetime downloads. The most important events of this period that need to be mentioned are the consistent development of our Hyper-Casual games portfolio and the success of Shoe Race. Launched in March 2021 as part of our publishing operations, the game has become a worldwide hit. At the end of March we also released Hunt Royale, a new Mid-Core game, with very satisfying results – says Marcin Olejarz, Co-CEO of BoomBit S.A.

In Q1 2021 BoomBit reached a record revenue level from games of USD 11.3M (+28% vs Q4 2020). Vast majority (USD 9.4M) came from Hyper-Casual games (+33% q/q).

The Group achieved USD 2.1M EBITDA, while the net profit amounted to USD 1.0M.

In Q1 2021 the BoomBit Group had a record level of investment in User Acquisition of USD 6.1M while maintaining high performance.

BoomBit Group games were downloaded 43.5M times and its lifetime total number of downloads passed the 900M threshold. The Group is heading towards 1 billion downloads, which is expected to happen later this year.

Since the beginning of the year, the Group has released a total of 10 games on iOS and Android platforms, including 8 Hyper-Casual titles (incl. Shoe Race, Make It Fly and SuperHero Race), 2 Mid-Core games (Hunt Royale and Idle Inventor – Factory Tycoon), and 8 games released in the Premium model on the Nintendo Switch platform.

The BoomBit Group is expanding its publishing business, BoomHits, which is expected to become a significant part of the Group’s results in the future. Thanks to the successful launch of Shoe Race, BoomHits is already starting to contribute to our results in 2021. BoomHits is responsible for cooperating with Hyper-Casual game developers from around the world incl. UK, US, France, Russia, Ukraine, Korea, Turkey and India.

Mobile gaming already represents approx. 50% of all gaming and Hyper-Casual games have been growing at a faster pace than all the other segments. Expansion of Hyper-Casual is our focus, we have a strong game portfolio in this genre and we want them to be profitable for a long time. However, we didn’t stop working on Mid-Core games, an example of which is Hunt Royale, one of our latest releases which has good KPIs and over 1M downloads to date. I’m also glad to see how our publishing division BoomHits is growing and we believe that it will be a significant part of our future revenue. In addition to external publishing we work with producers in the form of Joint Ventures. Together with TapNice, we developed Slingshot Stunt Driver, which was downloaded over 20 million times, and Make It Fly, which reached the 5th place on USA’s Google Play store. Another JV partnership we are excited about is ADC Games with whom we just launched a new promising title – SuperHero 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.