GAMIVO has issued its financial statement for the second quarter of 2024. Compared to the previous period, the company increased its profit and revenues. EBITDA also increased. Achieving such results was possible due to the optimization of operations and revenues from license fees.
“In Q2, we generated PLN 4 million in revenue and PLN 0.94 million in profit, while EBITDA was close to PLN 1.7 million. These indicators are higher than in the previous quarter this year, which confirms that the successive implementation of the new strategy is bringing the expected results. Importantly, the second quarter also showed that we can improve margins and increase profitability,” says Mateusz Śmieżewski, CEO of GAMIVO SA.
“It is worth noting that, despite a decrease in revenue compared to last year due to the exclusion from the GAMIVO Group and the sale of the Maltese company Gamivo.com Ltd, we recorded an increase in adjusted net profit of 3 percent year-on-year. This perfectly demonstrates that moving away from day-to-day sales support to focus on developing a technologically advanced platform was a good move. Our operations are driven by data and analytics, and looking at the broad market, we see room for further growth”, adds Mateusz Śmieżewski.
The company has embarked on another project to optimise the platform’s performance and enhance the experience of users and platform operators. With the change in strategy at the end of 2023, GAMIVO has also gained flexibility. The company intends to introduce a new product type, which is expected to result in new audience groups and open up to further licensees.
In the second quarter, the company recorded more than 5.6 million user accounts registered on the platform (an increase of 143,000 users q/q.) and 1,418 suppliers. It also worked together with its existing licensee to develop business collaborations, resulting in partnerships with brands such as Eventim and Wargaming.
“Thanks to the use of our know-how, the platform operator can successfully carry out marketing campaigns contributing to the increase in popularity of the service we have created. An example is the cooperation with the mobile operator a2mobile, which started in the second quarter,” explains Tomasz Lewandowski, a member of the board of GAMIVO SA.
