In 2021, the revenue of the BoomBit Group amounted to $61.7M and was 71% higher than in 2020. The majority of the revenue was generated by Hyper-Casual games, which accounted for approx. $40.5M (66% of the total Group’s revenue). The best games of this genre are Slingshot Stunt Driver and Bike Jump which generated $6.2M and $4.5M respectively. The results were also positively influenced by Mid-Core games, which brought approximately $17.3M, representing 28% of all revenues. The largest impact was from Hunt Royale – $10.8M, and Darts Club – $3.8M.
Along with the increase in revenue from games, the costs of sales also increased. In 2021, they totalled $53.9M, and this increase was mainly due to higher expenditure on User Acquisition, which amounted to almost $35.6M. In nominal terms, the revenue share costs and platform fees also increased, while the share of these costs in relation to revenues was at a similar level as in 2020. The total amount of expenses incurred on User Acquisition, revenue share as well as platform fees in the Hyper-Casual segment amounted to approximately $28.4M, and in Mid-Core games – $13.3M.
Adjusted EBITDA in 2021 was $8,6M and was 16% higher than $7.4M a year earlier, while the adjusted net profit amounted to approximately $4.3M and increased by 29% from $3.3M in the previous year. Operating cash flows in all quarters of 2021 were positive, and the cash balance at the end of the year amounted to over $8M, i.e. 49% more than at the end of 2020. In November 2021, $0.8M was paid in advance for dividends. In Q4 2021, the Group generated $16.7M in revenue (+86% Y/Y), which was the second-best quarterly result in history. Adjusted EBITDA in this period amounted to $1.8M (+9% Y/Y), and adjusted net profit amounted to $0.8 (+36% Y/Y).
In 2021, the BoomBit Group intensively scaled three diversified sources of revenue. The primary activity is the internal production and publishing of mobile games. The second pillar is the external publishing activity, which at the beginning of 2021 was transferred to BoomHits. It acts as a vehicle aimed at creating joint ventures with the most promising studios, which are the third source of the Group’s revenue. Currently, the BoomBit Group has four active Joint Ventures. The longest operating one is TapNice. In 2021 two more companies were created: SkyLoft and PlayEmber and in February 2022, BoomPick was created in cooperation with the Polish studio Cherrypick Games.
In terms of downloads, the BoomBit Group delivered 237.8M in 2021, and at the end of the Q3 2021, the total number of downloads to date exceeded the 1B threshold. In 2021, the Group released 26 games for iOS and Android platforms, across all three business lines, including 24 Hyper-Casual titles (Shoe Race, Make It Fly, Base Jump Wingsuit Flying, SuperHero Race, Kiss in Public, Construction Ramp Jumping) and 2 Mid-Core games (including Hunt Royale and Idle Inventor – Factory Tycoon).