GAMIVO S.A. has published a report presenting its results and activities in the opening quarter of 2024. In the first full period after the implementation of the new strategy, the company generated PLN 3.6 million in revenue, while EBITDA amounted to PLN 1.3 million.
GAMIVO’s performance in the first quarter of 2024:
- – Revenue: PLN 3,6 mln
- – Net profit: PLN 0,82 mln
- – EBITDA: PLN 1,3 mln
“We have just completed a significant chapter in GAMIVO’s history, demonstrating the outcomes of our newly implemented development strategy. The financial results achieved illustrate that the adopted development plan is yielding the desired outcomes. The results are lower than in the record Q1 of 2023 as the first quarter was supported by global launches and a favorable market situation. However, despite the sale of Gamivo.com Ltd. we achieved an EBITDA and net result at the level of Q3 2023, and we are satisfied with the optimization of our business”, says Mateusz Śmieżewski, CEO of GAMIVO SA.
“A necessary step was to raise the license fee, which allows us to generate even more revenue from our core business – providing licenses to platform operators. The new rates and revised allocation of responsibilities better match market requirements. At the beginning of 2024, we also introduced improvements to QuizVenture – this is one of the projects that, in the long run, are expected to allow us to diversify the business and explore new avenues of growth. We want to add new functionalities including those focused on monetization,” adds Mateusz Śmieżewski.
The QuizVenture game has also appeared on Google Play and is available to all owners of Android devices. The company is focused on further development of the GAMIVO platform and building new business partnerships, it is from the area of platform licensing that the company records the highest revenues. In Q1 2024, GAMIVO generated PLN 3.6 million in revenue, PLN 0.82 million in net profit, and EBITDA of PLN 1.3 million.
“The implementation of the new strategy has allowed us to optimize and simplify our business. As you can see, the results are really good. We have focused on the heart of our business and key customer values. We have achieved higher efficiency, increased the number of suppliers we serve, as well as our reach in international markets. The new strategy also paves the way for business diversification, and providing more variety on our platform results in better-tailored offers for gamers and other customers,” explains Tomasz Lewandowski, board member of GAMIVO SA.
“In the coming months, we are going to focus on new partnerships, broader marketing campaigns, and attracting new audiences. In Q1, there were 5.5 million users on our platform, an increase of 170,000 accounts quarter-on-quarter. This is a great result that will certainly translate into business growth, as the higher number of customers and transactions affects the license fee. We are also constantly developing the platform, adding new options to meet the needs of both customers and suppliers,” adds Tomasz Lewandowski.
