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
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Amusnet
Amusnet Adds Wet and Wild Fun to Crash Gaming with Hippo Splash
Amusnet is poised to elevate the thrill in the crash game segment with the imminent launch of Hippo Splash – a lively, quick-paced game that merges fun narratives with exhilarating gameplay and a verifiably fair algorithm.
At the core of Hippo Splash is a memorable image: a playful hippo gingerly balancing on a log in the center of a lake. Every action heightens the suspense, every moment raises the stakes… until a single mistake causes the hippo to plunge into the water. That’s the moment players anticipate – and the secret to transforming clever timing into substantial victories.
Created with player enthusiasm as a priority, Hippo Splash allows gamers complete control over their tactics. They have the option to cash out early at 50% for a more secure strategy or remain in the game longer to pursue higher multipliers before the eventual drop. Each round is fast, easy to grasp, and filled with tension, allowing for immediate participation while maintaining high adrenaline.
With its colorful theme, engaging mechanics, and modern crash gameplay, Hippo Splash is poised to appeal to both seasoned crash game fans and newcomers looking for something fun, fast, and rewarding.
Get ready to watch the log, track the multiplier, and decide the perfect moment to cash out – because in Hippo Splash, every step counts, and every splash could send winnings soaring.
Gamble
Play the game and multiply your winnings through the Gambling feature!
Multipliers
The game starts with a multiplier set at 1x and rises gradually and can go up to a max coefficient of 1,000,000.
Multiplier can potentially crash at 1x, ending the game round.
50% Cash Out
Players can cash out 50% of their bet during the game round and continue playing with the remaining 50%.
Jackpot Cards
The Jackpot Cards bonus game is triggered at random during the gameplay to allow players to win impressive jackpots.
The post Amusnet Adds Wet and Wild Fun to Crash Gaming with Hippo Splash appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
155.io
155.io Breaks the Mold Again, Introducing the CCTV Game Genre via Rush Hour
155.io, the live content studio transforming real-world games, has launched CCTV.Game, an innovative genre created entirely from live CCTV footage collected worldwide. The category debuts with its inaugural title, Rush Hour. The live game operates around the clock to convert real-life traffic into immediate viewing and wagering entertainment.
The CCTV Game signifies a new path for 155.io, broadening its chaos-oriented philosophy into completely live, real-world settings. Created using numerous live CCTV feeds from around the globe, the game transforms everyday activities into quick, engaging, and immediately bettable entertainment.
Running nonstop, Rush Hour enables players to wager on straightforward, distinct results during rounds lasting under a minute – such as the number of cars that cross a junction or the quantity that turns left or right within a specified timeframe. Each round is dynamic, spontaneous, and influenced by the organic rhythms of the world, instead of standard RNG methods.
Rush Hour’s live recordings feature diverse locations such as Sydney, Swindon, Arizona, and Taipei, as well as landmarks like Patong Beach in Thailand and Abbey Road in London. From everyday crossroads to landmark locations, the entire world transforms into the game board. Crafted for mobile devices, Rush Hour is immediately comprehensible and genuinely engaging, providing a much-needed option to conventional casino formats. CCTV Game embodies 155.io’s fundamental philosophy: chaotic reality, straightforward games, and entertainment designed primarily for mobile.
The launch enhances 155.io’s attraction to the upcoming player generation, merging live-stream culture with instant betting features.
CCTV Game and Rush Hour can now be accessed via Hub88 or through direct integration.
Sam Jones, Founder & CEO of 155.io, commented: “Rush Hour is the first expression of our CCTV Game genre – think Big Brother blended with Polymarket. It’s completely live, and the world is now our studio. CCTV.game takes real-world chaos and turns it into something instantly playable and genuinely entertaining – this is content the next generation will queue up to try.”
He added: “Once you realise the entire world can be a live game feed, there are no boundaries. Live traffic content is just the start – from live wildlife to iconic sporting locations – we’re only just setting off on our journey of what real-world chaos entertainment can be.”
The post 155.io Breaks the Mold Again, Introducing the CCTV Game Genre via Rush Hour appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Chicken X & Friends
Million Games Launches Chicken X & Friends Today Following Strong ICE Reception
Million Games announces today the official launch of Chicken X & Friends, its real-time multiplayer crash game and the highly anticipated sequel to the award-nominated hit Chicken X.
Following a successful showcase at ICE 2026, where the game attracted strong interest and positive feedback from operators, partners, and industry professionals, Chicken X & Friends is now live and available to play.
Set across a chaotic multi-lane highway, Chicken X & Friends brings Jack Chicken back into action—this time in a shared, unlimited multiplayer environment. Unlike traditional crash games, gameplay never pauses. There are no waiting rounds or session start times. Players can jump in instantly and start playing at any moment.
Multiplayer Crash Gameplay, Evolved
Chicken X & Friends introduces unlimited, real-time multiplayer gameplay to the crash genre. Players are visible live on screen as they navigate traffic lanes, build multipliers, and decide when to cash out before the crash.
“This launch marks an important step for us,” said Thomas Nimstad, CEO of Million Games. “Chicken X & Friends builds on everything players loved about the original, but adds a social layer that fundamentally changes how crash games feel. Seeing other players make decisions in real time adds tension, strategy, and excitement—and that was very clear from the feedback we received at ICE.”
Player Choice, Progression, and Personalisation
Gameplay takes place across multiple traffic lanes, each offering a distinct risk-and-reward profile. Slower lanes provide steadier multiplier growth with lighter traffic, while faster lanes increase volatility with denser traffic and quicker multiplier escalation.
Players actively choose how and where to play—staying safe, pushing into danger, or switching lanes as conditions change. Safe zones offer a brief pause from traffic, but staying too long triggers an automatic cash-out, ensuring the pace remains high and the pressure stays on.
As players progress, they unlock levels and cosmetic customisations, including different skins and hats for Jack Chicken. These visual rewards allow players to stand out on the road and showcase their experience and performance without affecting gameplay balance.
Movement is fast and intuitive, controlled through taps or directional inputs, allowing players to react instantly as traffic patterns evolve.
Social, Competitive, and Always On
In public playgrounds, up to ten players appear live on screen. Each player is represented by Jack Chicken, while competitors appear as pigeons, creating instant visual awareness of who is still in the race. The leading player is highlighted with a unique “king” skin and a visible live multiplier.
Live leaderboards track top performances over the past hour and 24 hours, encouraging repeat play and competition. Players can also choose to play solo or create private rooms with friends, offering flexibility without compromising the core gameplay experience.
Now Live and Available
Chicken X & Friends is launching today and can be played now on the Million Games website. Operators and partners interested in integrating the game or learning more about distribution opportunities are encouraged to get in touch with the Million Games team.
“This game represents something genuinely new for our industry,” added Thomas Nimstad. “We’re pushing beyond familiar formats to create experiences that players haven’t seen before. Unlimited gameplay, visible multiplayer tension, and shared decision-making open up a new direction for crash games—and that’s exactly the kind of innovation we want Million Games to be known for.”
The post Million Games Launches Chicken X & Friends Today Following Strong ICE Reception appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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