Gaming Realms profits as revenue surges 27% in 2022

Finance News

Gaming Realms the developer and licensor of mobile focused gaming content, announces its annual results for the year ended 31 December 2022 and Q1 highlights for 2023.

Gaming Realms’ continued focus on content licensing has seen further growth in revenues and high margins. This growth has been in pre-existing markets as well as entering new markets in the year. With the current strong pipeline of games and operators to onboard, the Group’s growth is expected to continue in 2023.

Revenue increased by 27% to £18.7m (2021: £14.7m), Licensing revenue increased by 35% to £14.9m (2021: £11.1m). Social publishing revenue increased by 3% to £3.7m (2021: £3.6m). EBITDA before share option and related charges (Adjusted EBITDA) increased 34% to £7.8m (2021: £5.8m. Profit before tax for the year increased 224% to £3.5m (2021: £1.1m). Year-end cash balance of £2.9m (2021: £4.4m) after making a repayment to Gamesys Group of £3.4m resulting in the Group ending the year debt free.