Gaming
Flexion Q4 Report – 31 December 2021
																								
												
												
											
Flexion produces record results: 52% growth in revenue, 63% growth in gross profit and 163% growth in EBITDA
October 2021 to December 2021 performance
- Total revenue increased by 52% to GBP 10.5m (GBP 6.9m)*
 - Gross profit increased by 63% to GBP 1.5m (GBP 0.9m)
 - Adjusted EBITDA‡ increased by 163% to GBP 0.33m (GBP 0.13m)
 - Operating profit increased to GBP 0.63m (GBP 0.06m)
 - Earnings per share amounted to GBP 1.28 pence (GBP 0.13 pence)
 - Cash amounted to GBP 14.5m (GBP 12.4m)
 
April 2021 to December 2021 performance
- Total revenue increased by 46% to GBP 26.1m (GBP 17.9m)*
 - Gross profit increased by 43% to GBP 3.4m (GBP 2.4m)
 - Adjusted EBITDA‡ increased by 68% to GBP 0.43m (GBP 0.25m)
 - Operating result increased by 734% to GBP 0.56m (GBP 0.07m)
 
Important events during the quarter
- Launch of Evony: The King’s Return from Top Games Inc.
 - Launch of The Ants: Underground Kingdom from StarUnion
 - Launch of Puzzles & Survival from 37Games
 - Signing of Mahjong Treasure Quest from Vizor
 
Important events after the quarter
- Strategic investment in mobile game influencer, Liteup Media UG
 - Alignment of the financial year with the calendar year by closing the current financial year after 9 months in December 2021
 
* Comparable number for the same quarter of the previous financial year in brackets
‡ The Company defines adjusted EBITDA as earnings before interest, tax, depreciation, amortisation, finance costs, impairment losses and other income. Adjusted EBITDA (adjusting operating profit for several non-cash items) is used by the Company for internal performance analysis to assess the execution of our strategies. Management believe that this adjusted measure is a more appropriate metric to understand the underlying performance of the Company
Notes from the CEO
What a great quarter we had – our best so far! We entered the 4th quarter with three new top titles leading up to the important Christmas period and I am really pleased that we managed to launch all of them and benefit from store promotions during the festive season.
Evony: The King’s Return, The Ants: Underground Kingdom and Puzzles and Survival are some of the biggest titles in the market and generated more than USD 40m in Google Play during December. These are now part of our portfolio and contributed to our strong performance in Q4. We experienced 52% growth in quarterly revenue compared with the same period last year and an increase of 46% for the whole year, which was in line with our guidance. The strong performance can also be seen in gross profit and EBITDA, up 63% and 163% respectively.
In 2021, we reached critical mass on the platform, and that’s why we now see a positive effect on our EBITDA for each new game we launch. I am also very happy that we generated GBP 0.6m in net profit for the period partly thanks to the recovery of GBP 0.4m from the impairment write-down we made in March 2020. These titles performed better than expected and are now generating positive contribution.
We added one more leading developer during the quarter, Vizor Games, and we are preparing to launch their title Mahjong Treasure Quest. On the back of our current strong performance and growing portfolio, we are actively phasing out low performing titles. This will help us improve the overall portfolio’s performance and increase the average revenue per game. Our top-tier monthly average has improved from USD 560K in Q3 to USD 730K. This can be seen in our KPI section on page 12.
We have now started to invest in new strategic initiatives within paid user-acquisition, with focus on influencer marketing and performance marketing to support our core business and to expand our footprint into the game services market as previously announced. The plan involves acquisition of talent through investments and acquisitions, but we are also strengthening our development and product teams to support these new initiatives. Our first step into influencer marketing was the investment made in January 2022 in Liteup Media. Liteup Media is a promising German start-up that has set out to disrupt influencer marketing and make it more mainstream and accessible to mobile game advertisers. This investment is attractive to us as we get a foot in the door in influencer marketing, while we have the option to acquire the company.
Looking at the wider market, we can see some clear market trends in favour of new services such as influencer marketing. This is partly due to privacy changes such as deprecation of IDFA by Apple, which makes it more difficult to target and track users. Google have also announced that it will make similar changes adding to the problems for traditional performance marketing. In parallel, we are seeing new demand for influencer marketing from blockchain-based games and NFTs. New marketplaces outside the traditional app stores are evolving for these games, adding to more market fragmentation. This in turn will drive new trends in user acquisition which we want to capitalise on. Other interesting recent moves that will expand our market is Microsoft’s support for Android on Windows 11, through their Amazon Appstore partnership. This project is now publicly launched by Microsoft, and Flexion is already supporting it. In addition, Netflix has entered the overall games market principally to support their core business and recently announced it stepped up its push into gaming by acquiring Next Games, a NASDAQ First North listed game developer.
We are now entering a new financial year and the traditionally weaker Q1 period. Our performance has so far been in line with expectations, we are focusing on growing revenue and audiences for our new top titles. On the back of our strong momentum coming into the new year, we expect our annual revenue to grow with 40-60% and our staff cost by 8-12% during 2022. This growth is driven by our core strategy, while new initiatives are ramping up during 2022. Overall, it should set us up for another strong and exciting year.
I would also like to comment on Flexion’s exposure to the terrible events happening in Ukraine and our thoughts are with all those affected. As a company with business in global markets, we have to date not seen any political events where mobile games have been sanctioned and we do not foresee that happening here either. We are very fortunate that our staff have not been exposed to the region, none of our developer contracts are with Russian companies and our settlement structure is relatively well protected against payment freezes or delays. The risks we see lie within the highly volatile Russian Ruble and the ability of our channel partners to transfer funds out of Russia. So far, the effects on Flexion have been limited and in February less than 10% of our global revenue was generated in the Russian market. The situation is very fluid, and we are monitoring it closely.
Finally, I would like to thank all Flexion staff for a fantastic year and welcome our new colleagues at Liteup Media to the Flexion Group.
Jens Lauritzson – CEO
Powered by WPeMatico
Africa
South Africa’s Top Gamers Crowned at 2025 MTN SHIFT Gaming Grand Finals at Canal Walk
														Reading Time: 2 minutes
Massive wins, standout talent and a showdown wrapped up five months of fierce competition across the country.
After months of qualifiers and regional heats at eight Hyprop malls across South Africa, the MTN SHIFT Gaming Experience reached its electrifying conclusion at Canal Walk Shopping Centre. With hundreds of spectators and players packing the gaming arena, the national finals brought the heat and crowned South Africa’s best in EAFC 25
, Beat Saber, Call of Duty and more.
In the EAFC National Final, Hamza Moosa (17) from Sandton, proved why he’s one of the country’s most exciting young talents. A professional esports player for Goliath Gaming, Moosa outplayed the competition to take top honours. A familiar name on the international stage, he recently represented South Africa at the Esports World Cup qualifier in Saudi Arabia. Hamza left the MTN SHIFT Gaming national finals with prize money of R25000.
Beat Saber fans saw a fast-paced, high-score battle won by Michael Prange (17) from Pretoria and Garsfontein High School. Ranked #2 nationally, Prange is also a two-time Beat Saber World Cup competitor and has helped shape South Africa’s competitive VR rhythm community through coaching, mentorship, and global participation. As the 2025 MTN SHIFT Gaming Beat Saber national champion, Michael won a Gaming PC valued at R50000.
In the schools division, Ridhaa April, 15, from Cape Town’s Southern Suburbs, took the EAFC title. A prodigious talent who’s been competing since the age of 12, Ridhaa plays professionally for Goliath Gaming and already holds multiple top finishes, including 1st place at the 2025 ASL.
In the Rocket League school tournament, Curro took top spot, followed by Edgemead High in second place.
Meanwhile, Call of Duty Mobile closed out the finals with serious intensity as returning champions Nixuh held onto their title. The dominant team of Magicz (Raees Ismail), Adnaan (Adnaan Bhamjee), Raz (Rahil Bux) and Enigma (Jameen Essa) walked away with a R30 000 cash prize.
“The atmosphere at this year’s finals was absolutely electric,” said Vanessa Herbst, Marketing Manager at Canal Walk Shopping Centre. “The level of skill on display was unreal, and the crowd brought their energy every day. The bar has been set very high for the 2026 edition.”
The MTN SHIFT Gaming Experience is South Africa’s biggest mall-based gaming tournament, played over five months across Gauteng and the Western Cape. Regional heats were hosted at Rosebank Mall, Clearwater Mall, The Glen, Woodlands, Table Bay Mall, Somerset Mall and Capegate Shopping Centre, with the final week of competition culminating at Canal Walk. The tournament drew thousands of players across all skill levels, offering more than R250 000 in prizes and a platform to compete in front of live audiences.
“The SHIFT Gaming Experience is about bringing high-level competition into public spaces and giving players of all ages the opportunity to compete, connect and grow,” said Christie Stanbridge, Brand and Campaigns Marketing Manager at Hyprop. “From pros representing South Africa on global stages to young players discovering their potential, far more than being entertaining, this year highlighted gaming as a space for learning, discipline and community.”
With the 2025 tournament wrapped, planning is already underway for an even bigger return in 2026.
The post South Africa’s Top Gamers Crowned at 2025 MTN SHIFT Gaming Grand Finals at Canal Walk appeared first on European Gaming Industry News.
Bonus Bag feature
TaDa Gaming Delivers Highway Thrills in Chicken Dash
														Reading Time: 2 minutes
Award-winning TaDa has taken a favourite joke and transformed it into an immersive and humorous crash release. Simple mechanics, personalised risk management controls and a max win of 20,659.1x are enhanced with slick graphics and a fearless chicken.
And with an expanding bonus bag that fell off the back of a lorry, it’s easy to see why this chicken is so determined to get to the other side.
Players begin by setting their preferred gameplay parameters. Three levels of Easy, Normal and Hard will dictate the level length or number of tiles the bird has to cross and the level max multiplier value.
Strong clear colours and polished visuals set the scene for the determined chicken to make it across the motorway. Beginning on the grass verge, players click to send the bird across the lanes one multiplier tile at a time against the oncoming traffic.
Each safe step will see a safety barrier land to protect the chicken but one false move and it’s game over and back to the grass verge.
Keeping players on high alert, the Chicken Dash feature can randomly trigger multiple times in a game. The appearance and squawking of the rooster starts the bonus feature which protects the chicken from traffic throughout and allows it to pass over two or three tiles in one go.
A Bonus Bag feature can also randomly trigger. Players must land the chicken on the tile where the bag dropped to collect the prize. And the higher the risk level, the higher the prize.
A clear UI and straightforward gameplay mean players can focus on getting the chicken across the road in one piece – and hopefully with the bonus prize – while enjoying Chicken Dash’s crisp graphics and sly details in this high volatility and amusing game.
Sean Liu, Director of Product Management at TaDa Gaming, said: “Chicken Dash is a hugely entertaining crash game that will have players laughing out loud. The cartoon graphics add to the experiential play and we promise no chickens were hurt in making of this game.”
The post TaDa Gaming Delivers Highway Thrills in Chicken Dash appeared first on European Gaming Industry News.
Cash Rain Event
TaDa Gaming Releases Cash Stack
														Reading Time: < 1 minute
TaDa Gaming, a leading provider of innovative casino content, is redefining fast-play entertainment with the release of Cash Stack, an adrenaline-pumping crash game that puts timing, control and strategy directly in the player’s hands. With a max multiplier of 100x, Cash Stack delivers rapid gameplay, instant decisions and nonstop engagement.
Built for players who love simplicity and control, Cash Stack starts at a 1.01x multiplier, with the tension rising as players manually tap DROP to increase their payout potential. Every decision carries risk — one mistimed move and the round ends instantly. For those who dare, the game can soar up to 100x before the stack collapses.
The twist comes with the Cash Rain Event, a random in-game boost that can multiply winnings by 0.1x to 10x. Players must hit CASH OUT before the round ends to claim the bonus value, adding a thrilling layer of timing and anticipation. The result is a fast, skill-driven experience that rewards quick reactions and nerve.
Cash Stack embodies TaDa Gaming’s next step in the evolution of crash games — sleek visuals, simple mechanics and an emphasis on player control over automatic outcomes.
Sean Liu, Director of Product Management at TaDa Gaming, said: “Cash Stack takes the essence of crash gameplay and turns it into a true test of timing and instinct. Every round is a balance between greed and precision — do you cash out early or chase the big win? We’ve designed it to be fast, flexible, and highly engaging for players who want to feel in control.”
The post TaDa Gaming Releases Cash Stack appeared first on European Gaming Industry News.
- 
																	
										
																			Latest News4 days agoBoomerang Partners has announced a gift auction at their booth during the upcoming SiGMA Europe 2025 in Rome
 - 
																	
										
																			Alina Popa Chief Commercial Officer at ICONIC217 days agoICONIC21 Expands in Southeastern Europe Through Strategic Partnership with Soccerbet
 - 
																	
										
																			Australia6 days agoVGCCC: Footy Legends Team Up to Champion Limit Setting
 - 
																	
										
																			Ivelina Balova Product Owner at Sneaky Slots6 days agoSneaky Slots reveals a bunch of freaks in its second release, Freak Show Revelation
 - 
																	
										
																			Africa6 days agoSouth Africa’s Top Gamers Crowned at 2025 MTN SHIFT Gaming Grand Finals at Canal Walk
 - 
																	
										
																			BGaming6 days agoLand Colourful Cluster Wins in BGaming’s Merge Up™ 2
 - 
																	
										
																			Asia4 days agoNagaWorld Achieves Exceptional Great Place To Work Certification with Near-Perfect 95% Trust Index Score
 - 
																	
										
																			Latest News7 days agoFairspin Receives Nomination for “Best Crypto Casino 2025”
 



