Tag: earnings

Funcom Q3 2018 Report: Highest Quarterly Earnings In Company History


Funcom yesterday posted its third quarter earnings for 2018, and the results are rather positive. Third quarter earnings amounted to $7.5 million, a 25% increase over last year, with earnings before interest, tax, depreciation, and amortization amounted to $4.6 million. The developer happily notes that not only has cash flow beaten the full year’s numbers for last year, which was the highest in Funcom histroy, but that the company is now free of interest-bearing debt for the first time since 2009 and holds a cash balance of $20.9 million.

On the road ahead, Funcom has six titles in its lineup including Mutant Year Zero: Road to Eden, Petroglyph’s Conan game set for the second quarter 2019, Rock Pocket’s Funcom IP game set for Halloween 2019, a cooperative shooter from Funcom North Carolina, a single-player Conan game from Funcom Oslo, and an open-world multiplayer game also from Funcom Oslo. It appears that Petroglyph’s Conan game will release on PC while Rock Pocket’s title is set for PC, Xbox, and Playstation. Funcom NC’s title utilizes a premium business model while both of Funcom Oslo’s titles are in pre-production stages.

Conan Exiles continues to be a strong seller for Funcom.

(Source: Funcom)

Funcom Q2 Release Points Toward “Experimental” Games


jomali

Funcom has released their second quarter earnings for 2015 and it doesn’t take a genius to know that the results are not good, because the geniuses have already been telling us for the past month. Revenues at the company are down, from $3.19 million over the same period last year to $2.65 million this quarter. While we knew that Lego Minifigures Online was not a financial success, Funcom notes in its report that the company was forced to write off $2.9 million in the second quarter on “impairment charges,” a fancier term for worthless assets.

In response to its dwindling sales, equity, and cash in the bank, Funcom has announced a new development strategy focused on developing small, experimental, low risk titles that can be released at a rate of at least one per year with one larger game in production at all times. The new plan also includes upgrading the Dreamworld engine to integrate it with third parties (licensing), as well as making further use of in-house properties.

The first product of this new experiment is “The Park,” an experimental single player game set in the horror theme park from The Secret World and set for release in October. Check out the trailer below.

(Source: Funcom)

Star Vault Posts Higher Q1 Earnings


Screenshot 2015-05-22 at 11.12.56 AM

Star Vault has released their first quarter sales for 2015, and the results are rather positive. While sales are down from where they were last year, net sales increased over the fourth quarter to $68 thousand. Likewise, Star Vault’s net loss fell substantially from over $100 thousand in Q4 to $61 thousand this quarter.

According to Star Vault’s report, the number of subscribers remained about the same over last quarter.

CEO Henrik Nystrom’s note:

We have recruited a further enhancement to our team, in the form of an experienced programmer with great interest in game development. This gives us the resources for the Steam release. Our new additions will work in several areas of development in Mortal Online – it’s great with fresh eyes coming from outside that can give feedback on what areas can be improved. We also have an additional encoder remotely in the US who now helps us with GUI and flash programming.

(Source: Aktie Torget)

Disclosure: Star Vault’s finances are published on the Aktie Torget stock exchange in Swedish, linked above, and translated using Google’s automatic tools. Figures shown above are based off of the SEK to USD conversion rates as of the day of their publishing. This is for informational purposes and is not meant to advise investment.)

(Editor’s note: Henrik Nystrom’s note only includes the last of three paragraphs. The first two were removed for brevity and poor translation, and cover outdated information on the Sarducca update)

Revenue Doubled Under Free To Play


cathar

As much as I know there is a subsection of gamers who want nothing more than for The Old Republic to be down and out so they can justify kicking it over and over, I have bad news for you: According to an earnings call by Electronic Arts, The Old Republic has not only grown exponentially in size, it is making lods of emone. 1.7 million new players have joined since the game went free to play, bringing up subscriptions to just under half a million.

“The really interesting thing that’s happening inside the service right now is monthly average revenue for the game has more than doubled since we introduced the free-to-play option. And as we look forward, we’re going to continually invest in new content for the service and for players every six weeks or so.”

Granted that news shouldn’t exactly be surprising. We would have been more surprised if The Old Republic had somehow managed to have less players and be making less money after the transition.

(Source: Polygon)