GAMIVO decided not to wait until the second half of November and published the report for the third quarter of 2024 on October 25. According to the report, the company generated PLN 4 million in revenue, PLN 960 thousand in net profit, and EBITDA reached PLN 1.55 million. This means that GAMIVO has again surpassed the achievements of the same period last year.
“We are consistently executing our strategy, evident in our financial results. If we look at our last three quarters, we have recorded a recurring increase in net profit, and EBITDA remains stable. In the third quarter, we generated PLN 4 million in revenue, PLN 960 thousand in net profit, and PLN 1.55 million in EBITDA” – comments Mateusz Śmieżewski, CEO GAMIVO SA. “The results we have achieved show that our platform development strategy is having an effect. It is important to remember that the situation in the game industry in recent quarters has been challenging. Yet, we have been able to achieve a satisfactory level of results. The company’s financial results are stable and more predictable” stresses Mateusz Śmieżewski.
In September, the company launched a new product category for the mobile market. This sector generates almost half of all profits in the gaming industry. Moreover, mobile gamers are characterized by different, more dynamic gaming habits, so GAMIVO assumes that the new category will increase the number of users on the platform, as well as the number of suppliers. In addition, the company, together with the platform operator, carried out several marketing campaigns in the third quarter.
New partners include Eventim, a company that specializes in selling tickets for concerts, festivals, and similar events. In August, GAMIVO conducted a marketing campaign with Surfshark. Additionally, a promotion related to the game World of Warships was made available to users. Smaller campaigns featured partnerships with names such as Centre of Excellence, Babbel, Novakid, and MyHeritage.
In Q3, the company recorded nearly 5.8 million user accounts registered on the platform (up 151,000 users q/q.) and 1,475 sellers.
“GAMIVO is already at a stage when we feel our position is well established and strong. On the other hand, we are invariably looking for new methods and directions of development, including in the perspective of strengthening our reach in high-potential markets. Launching products for mobile players on the platform is another important step for us. We started work towards this earlier this year. The first effects, as well as the reactions of users, are very positive” explains Bartłomiej Skarbiński, GAMIVO S.A. board member.
The strategy of expanding the offer will also be implemented in the coming months. After introducing products for mobile gaming, the next goal is to reach new audiences by adding another category, this time unrelated to gaming. Its launch is planned for the end of 2024.
