BoomBit Group’s financial results for Q1-Q3 2024
BoomBit, an international mobile game producer and publisher, has summarized its results and achievements for Q1-Q3 2024:
- $42.4M in sales revenue, including
$41.0M from mobile games and $1.4M from blockchain projects - $1.7M in adjusted consolidated net profit and $5.2M in adjusted consolidated EBITDA
- ADC Group deconsolidation
- $1.2M of dividend payment ($0.09 per share)
We are working intensively on preparing new titles and introducing additional previously announced Mid-Core games to the market. In September, Clash of Destiny had its premiere, and just a few days ago, the RPG game Loot Heroes debuted, offering gameplay like Hunt Royale. Still in Q4, we plan to release Rest Stop Tycoon, while in Q1 2025, we are preparing the release of Train King Tycoon and the soft launch of Hunt Origin, set in the Hunt Royale universe but featuring entirely new gameplay and mechanics. Also noteworthy are the good and visible results of several Hyper-Casual games introduced during the summer: Downhill Race League, Offroad Runner, and Car Sales Simulator. We are working on further diversifying our revenue streams and are in the process of commercializing our Business Intelligence tools and Playable Ads. We also plan to increase our exposure in the segment of games released on Steam and consoles. As a priority, we intend to launch the free-to-play version of Dawn of Ages on Steam in the first quarter of 2025.
CEO of BoomBit S.A.
In the first three quarters of 2024, BoomBit Group’s total revenues amounted to $42.4M million PLN, including $41.0M from mobile games. Among the most popular titles, Hunt Royale remained at the top (earning $8.0M since the beginning of the year and $2.9M in Q3 2024), followed by Darts Club ($5.6M and $1.7M in Q3 2024). High revenues in the third quarter of 2024 were also generated by Dawn of Ages, launched in May ($0.8M and $1.7M since its release), and Downhill Race League, introduced during the summer ($0.6M). The most significant release in the last quarter was the game Clash of Destiny, which debuted in September, with Offroad Runner and Car Sales Simulator also receiving positive reviews and results. In late November, in collaboration with Madcore studio, the game Loot Heroes was released.
The group continues to work on projects based on blockchain technology, generating revenues of $1.4M in this segment during the three quarters of 2024. This includes $0.4M from NFTs sold by BoomLand for the game Hunters on Chain and $0.4M from a grant received from the Immutable protocol operator. Additionally, this segment’s revenues included $0.6M from grants received from the NEAR Foundation by PlayEmber, part of the ADC Games Group. At the end of June 2024, ADC Games Group was deconsolidated, and in the last days of October, BoomBit signed a shareholders agreement for 16.7% of its shares, reducing its stake in ADC Group to 33.3%.
Adjusted EBITDA (primarily for one-time events reported in the second quarter – accounting recognition of the loss of control over ADC Games and impairment of development expenses) amounted to $5.2M in the three quarters, with an adjusted consolidated net result of $1.7M. In Q3 2024 alone, with no one-time events, the Group achieved $1.9M EBITDA and $0.7M profit. In the mobile games segment, these results were $1.7M EBITDA and $0.5M net profit, respectively. The blockchain segment had $0.3M EBITDA and $0.2M net profit.
Based on the dividend payment approved by the Ordinary General Meeting in June 2024, from part of the net profit for 2023, BoomBit Group distributed $1.2M to its shareholders in two installments, i.e., $0.09 per share.
