East Side Games Reports Q3 2024 Financial Growth

Leaf Mobile Inc ( (EAGRF) ) has released its Q3 earnings. Here is a breakdown of the information Leaf Mobile Inc presented to its investors.

East Side Games Group is a prominent free-to-play mobile game developer based in Vancouver, Canada, known for creating engaging games that foster player loyalty through a unique blend of original and licensed IP titles.

In its latest earnings report for the third quarter of 2024, East Side Games Group announced a revenue of $21.4 million, marking a 4% increase from the previous quarter and a 3% rise from the same period last year. The company also reported an adjusted EBITDA of $2.56 million, maintaining a 12% margin and achieving its eighth consecutive profitable quarter above $2.5 million.

Key highlights from the report include the successful global launch of ‘POWER RANGERS: MIGHTY FORCE’ and the introduction of innovative revenue strategies like bi-monthly season passes, which led to a 40% increase in season pass revenue. Moreover, the company’s collaboration with BBC and Paramount to create a crossover event between ‘Star Trek Lower Decks’ and ‘Doctor Who’ significantly boosted organic traffic and set new records for average revenue per daily active user (ARPDAU).

Looking ahead, East Side Games Group aims to enhance player engagement by introducing team-based features in popular titles. The company is also set to expand its reach with the launch of ‘Trailer Park Boys: Greasy Money’ on the Epic Games Store and anticipates a promising reception for its upcoming title, ‘RuPaul’s Drag Race Match Queen,’ in 2025.

With a strong cash position of $8.3 million, the highest since Q2 2022, the company is well-positioned to invest in future game launches and bolster its share buyback program, reflecting a confident outlook for continued growth and development in the mobile gaming sector.