Business
RE TRANSMITTAL: Leaf Announces Full Year 2019 and First Quarter 2020 Financial Results of the Business Acquired "LDRLY" Pursuant to the Subsequent Events Announced April 17, 2020
2019 Top line revenue surges 280% YoY to $8.4 Million Q1 2020 Top line revenue up 424% ...
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[{"type":"text","content":"RE TRANSMITTAL: Leaf Announces Full Year 2019 and First Quarter 2020 Financial Results of the Business Acquired \"LDRLY\" Pursuant to the Subsequent Events Announced April 17, 20202019 Top line revenue surges 280% YoY to $8.4 MillionQ1 2020 Top line revenue up 424% YoY to $5.6 MillionVANCOUVER, BC / ACCESSWIRE / June 23, 2020 / LEAF Mobile Inc. (TSX.V:LEAF), a leading creator and publisher of counter culture mobile games, today released financial results for its year end 2019 and first quarter ended March 31, 2020. The results are prior to subsequent events, the completion of its previously announced April 17th qualifying transaction where the acquisition of LDRLY (Technologies) Inc., assets, which includes titles such as Bud Farm Idle Tycoon. As a result, Leaf Mobile is now the parent company of LDRLY (Technologies) Inc.HIGHLIGHTS2019 Record topline game operating revenue of $8.5M, an increase of $6.3M or 280% year-over-yearReports 2019 income from operations of $122,075 vs (-$52,033) in 2018Q1 2020 was best first quarter game revenue in LEAF history of $5.6M, up 424% year-over-year.Bud Farm Idle Tycoon was the primary driver of year‐over‐year and first quarter 2020 topline growthQ4 2019 performance capped off an outstanding year as the portfolio of games delivered the highest annual revenue in LEAF history. The Q4 momentum continued to build through Q1 2020 and the company anticipates this trend to continue through 2020 based on record revenue results in April of $2.9M, as previously announced in the Company's May 23rd press release.These results demonstrate the Company's ability to scale as it executes its growth strategy.In Q4 2019, its mobile gaming portfolio achieved revenue of $3.1M, up 343% year-over-year, driven by strong growth game momentum of new title lunch, Bud Farm Idle Tycoon and stable revenue from legacy games, Bud Farm Grass Roots, Bud Farm 420, Quest for Buds and Pot Farm.In 2019, LEAF delivered a record topline game performance with revenue of $8.5M, up $6.3M or 280% year-over-year. The Company's focused execution and new game title generated positive income from operations of $122K, versus -$52K in the previous year.In Q1 2020, LEAF reported its best first quarter game revenue in LEAF history driven by continued growth momentum of Bud Farm Idle Tycoon achieving revenue of $5.6M, up 424% year-o...