Stronger than expected growth in Flexion Mobile prompts update of market guidance
The group predicts revenue growth of 90-110 percent for 2022
LONDON, 15th of June 2022 – Flexion Mobile Plc (Nasdaq: FLEXM) updates its market guidance for the group due to stronger than expected organic growth and the acquisition of influencer marketing agency Audiencly. Group revenues are predicted to grow by 90-110 percent in 2022, of which organic growth is expected to be 60-80 percent, up from previous estimate of 40-60 percent. A broader and stronger portfolio of games, including some recent successful game launches, are contributing to the faster growth.
" Our focus on bigger titles and influencer marketing is paying dividend. It is great to see such strong revenue growth and I am also expecting continued growth in EBITDA margin through our new marketing services. The revised, strong growth manifests our leading market position and it is now clear to the world´s leading game developers. We generate additional revenues helping them reach the untapped Android market, propelling us to an unthreatened leading position in this growing market,” says Flexion Mobile CEO, Jens Lauritzson.
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 CEST on 15 June 2022.
About Flexion Mobile Plc: Flexion offers a distribution service for free-to-play Android games. Using the service developers can distribute their games in multiple channels like Amazon, Samsung, Huawei, Xiaomi and ONE Store. These are channels that the developers are struggling to reach and support. At the core of Flexion's service is the patented enabling and enhancement software that converts developers' 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