Business
LEAF Games May 2020 Revenue Continues to Build on Record April Results
Growth Driven by Revenue Acceleration of Cheech & Chong Bud Farm VANCOUVER, BC / AC...
About this update from East Side Games Group Inc
[{"type":"text","content":"LEAF Games May 2020 Revenue Continues to Build on Record April ResultsGrowth Driven by Revenue Acceleration of Cheech & Chong Bud Farm VANCOUVER, BC / ACCESSWIRE / July 7, 2020 / LEAF Mobile Inc. (TSXV:LEAF), a leading creator and publisher of counter culture mobile games, had continued revenue growth in May 2020, building on April's record results. The results are post-completion of its previously announced qualifying transaction where, on April 17, 2020, Leaf Mobile completed the acquisition of LDRLY (Technologies) Inc., assets, including titles such as Bud Farm Idle Tycoon. Leaf Mobile is now the parent company of LDRLY (Technologies) Inc.HIGHLIGHTS*All figures in $CADMay 2020 topline game operating revenues of $3.6M, an increase of $0.6M or 20% month-over-month based on April topline of $3.0M.7th consecutive month of top line revenue growth across our game portfolio.May 2020 income from operations of $0.38M vs $0.36M in April.YTD income from game operations of $1.1M.Cheech & Chong Bud Farm was the primary driver of month‐over‐month revenue growth of 490% vs April, achieving $0.6M in monthly revenue and $0.2M net operating income.Darcy Taylor, Chief Executive Officer, stated, \"We continue to build top line business momentum with May delivering $3.6M in game operating revenue. The strength of the past 2 months builds on our record Q1 2020 revenue of $5.6M, resulting in achievements as of May of $12.3M in revenue, surpassing our FY 2019 record revenue performance of $8.5M in the first 5 months of this year. The velocity of monthly revenue growth is driven by the first full month results of our newest title Cheech & Chong Bud Farm strong reception progressing ahead of expectations. We also acknowledge the post qualifying transaction phase of LEAF welcomes a financial results communication cadence simplicity as we go forward.\"Game Title Portfolio May 2020 ResultsGrowth Games:Bud Farm Idle Tycoon achieved a monthly revenue of $2.7M and $0.2M in net operating income. This was driven by continued investment in player acquisition and strong total monthly ARPDAU* of $1.18.Cheech & Chong Bud Farm achieved a monthly revenue of $0.6M and $0.2M net operating income, with first full month of revenue post 4.20 launch. Supported by increased organic daily installs and investment in player acquisition driving D...