Home Games Animoca Brands records strong financial results underpinned by increase in gaming – Small Caps
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Animoca Brands records strong financial results underpinned by increase in gaming – Small Caps

Animoca Brands revenue nWay Quidd Inc Gamee The Sandbox

Delisted game developer Animoca Brands continues to post strong results for the 2020 financial year, buoyed by an increase in video game usage during worldwide COVID lockdowns.

Gaming companies have experienced a greater number of downloads and increased revenue generation during the pandemic, which served to grow the business and bring in record quarterly and monthly revenues for the first four months of the year.

It helped the company realise a record unaudited revenue, including $49 million of revenue received in advance, and a net operating cashflow of $3 million.

Receipts from customers came in at $34 million, representing a record increase on the same period in 2019, and all results included contributions from recently-acquired businesses nWay Inc, Quidd Inc, and Gamee Limited.

Cryptocurrency

At 31 October, Animoca Brands’ cash and cryptocurrencies on hand totalled $17.6 million – of this, $16.4 million was in cash, Bitcoin, Tether, and Ether; while $1.2 million was in other cryptocurrencies.

The significant increase in Bitcoin and Ether holdings came from a
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