Flexion Mobile updates its June 2020 quarter estimate as revenue grows faster than expected
Total revenue for the quarter estimated to be GBP 4.8m resulting in 153% growth compared to the same period last year
LONDON, 15th of July, 2020 – Flexion Mobile Plc (Nasdaq: FLEXM), the Android games distribution company today released a trading update on its sales performance for the quarter ending June 2020. Flexion has previously communicated that this quarter would see an accelerated growth of + 50% compared to the March 2020 quarter. The company now estimates its total revenue for this quarter to be 74% compared with the previous quarter. Total revenue is estimated to be GBP 4.8m resulting in 153 % growth compared with the same period last year. The rapid growth is attributed to a general upswing in the mobile games market partly due to the pandemic but more importantly a broader and stronger performing portfolio which will continue to drive revenue growth in the future.
"It is great that we have beaten our own growth expectations this quarter and we have really good momentum with new games and active channels providing a strong platform for further growth", says Jens Lauritzson CEO of Flexion Mobile PLC.
In the last 3 months Flexion has signed 5 new games. The company now has a live portfolio of 16 games and 5 pending launch.
More information will be provided in its quarterly report which will be released on the 26th of August.
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 July 15th, 2020.
About Flexion Mobile Plc: Flexion offers a distribution service for free-to-play Android games. Using the service games can be distributed in multiple channels such as Amazon, Huawei,Samsung, ONE store and Xiaomi. These are channels that developers are struggling to reach and support. At the core of Flexion's service is the patented enabling and enhancement software that converts developer’s existing Android games into specific game versions for the new stores 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.