Flexion Announces Third Quarter 2022 Financial Results

Flexion has announced its financial results for the quarter ended September 30, 2022. The company has reported a revenue growth of 138% and EBITDA of GBP 1.5 million.

July-September 2022 Performance

• Total revenue increased by 138% to GBP 18.5m
• Gross profit increased by 196% to GBP 3.0m
• Adjusted EBITDA increased to GBP 1.5m
• Adjusted profit before tax increased to GBP 0.3m
• EPS amounted to GBP -1.22 pence
• Adjusted EPS amounted to GBP 0.51 pence
• Operating cashflow amounted to GBP 1.9m
• Cash and cash equivalents amounted to GBP 10.5m

January-September 2022 Performance

• Total revenue increased by 111% to GBP 46.8m
• Gross profit increased by 166% to GBP 7.4m
• Adjusted EBITDA increased to GBP 3.2m
• Adjusted profit before tax increased to GBP 0.8m
• Operating cashflow amounted to GBP 4.9m

Important Events During the Quarter

• Launch of King of Avalon from FunPlus
• Signing and launch of Matchington Mansion from Magic Tavern Inc
• Signing of Call Me Emperor from Clicktouch Co. on the Japanese market
• Signing of Kiss of War from tap4fun
• Completion of USD 500k Liteup Media investment for 20% stake
• Launch of cost-per-install (CPI) service by Liteup Media to target TikTok users

Important Events After the Quarter

• With Amazon-Windows 11 deal, Flexion can help Android games reach PC audiences.