BoomBit Group revenue in February 2021

Investor news
3 March 2021
  • Total BoomBit Group revenue after deducting platform holders’ fees and UA: 5.4M PLN (+4% m/m)
  • Total game revenue: 12.1 mln PLN (+9% m/m)
  • 13.2 mln game downloads

In February 2021 the BoomBit Group revenue after deducting User Acquisition costs and distribution platform fees reached around 5.4M PLN compared to around 5.2M PLN in January 2021 (+4% month to month).

The total BoomBit Group revenue from games reached around 12.1M PLN (+9% m/m). Marketing costs were around 6.1M PLN (+14% m/m) while platform fees were 0.58M PLN (+9% m/m).

In February 2021 the total number of Boombit Group games downloads was around 13.2M. In February BoomBit began scaling recently launched hyper-casual games, incl. Base Jump Wing Suit Flying and Jump the Car.

There are currently 14 BoomBit titles on the Nintendo Switch with more planned to launch this year.

We are very happy with the February revenue results. It’s worth noting that the result we’ve achieved was made possible by the current game portfolio. Once again we’ve seen a very good contribution from the hyper-casual games thanks to the new content in our most important HC games and effective marketing campaigns using our own BI tools. We’ve worked very hard on that during the last few months and we’re very happy with the current capabilities of those solutions. They allow us to not only analyze previous results of our campaigns but also forecast and purposefully shape our own pricing policy in the user acquisition field. We’ve mentioned that our own solutions will positively affect the effectiveness of marketing campaigns a few months ago and we can now see the results of that – says Marcin Olejarz, President of the Management Board of BoomBit S.A.

In the upcoming weeks we’re planning to release a midcore (GaaS) game – Hunt Royale – that saw great KPIs during its soft launch, including conversion and retention, and that keep getting positive reviews and rating from players. We have high hopes for this game and its, hopefully, successful launch would serve as a reminder that we still do have a know-how of the GaaS game market and can still profit from it – adds Marcin Olejarz.

Looking at the February revenue we have to take into account the fact that it’s 3 days shorter than January – in comparison to the same number of days, our February result would  be over 20% better than the one achieved in January 2021. Meanwhile comparing our revenue year-to-year it’s worth mentioning that in February 2021 the revenue in USD would be higher than in the very good February of last year – adds Hannibal Soares, Vice-President of BoomBit S.A.

On February 26th BoomBit informed about write-offs of 6.33M PLN development costs from the consolidated results for 2020.

Making write-offs is never pleasant, but we have to remember that it is a non-cash accounting expense and it does not affect the real profitability and perspectives of our business which are better than ever. Write-offs are the last cleanup step that allows us to further expand our hyper-casual segment that has given us such a dynamic growth in 2020, and at the same time develop games from other segments, which thanks to our experience and BI tools can achieve great financial results. We’ve written off projects that in our opinion did not have a sufficient monetization potential. We have to act quickly and decisively, allocating our resources where we see the highest profit potential. Results from the last few months prove our competence in that regard – says Marcin Olejarz.

As I said while discussing the January results – we look to the future with big optimism, and the very good February result proves our good outlook on the half-year and yearly results. In February Slingshot Stunt Driver again managed to get into TOP 50 ranking on Google Play in the USA – which is a great proof that successful hyper-casual games can live for a really long time. We have another months of very good monetization of our current portfolio together with new hyper-casual, midcore and Nintendo Switch game releases – sums up Marcin Olejarz.