Business
Final year results for the year ended 30 June 2022
Final year results for the year ended 30 June 2022.
About this update from Gfinity Plc
[{"type":"text","content":"\n \n \n 23 December 2022\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Gfinity plc\n \n \n (\"Gfinity\" or the \"Company\")\n \n \n \n Final year results for the year ended 30 June 2022\n \n \n \n \n Continued progress on path to profitability\n \n \n \n Gfinity plc (AIM: GFIN), a world-leading esports technology and media business, today announces its audited final results for the year ended 30 June 2022.\n \n \n \n Financial highlights\n \n \n \n ·\n Reduction of 28% in Adjusted Operating Loss[1] to £2.0m (2021: £2.7m), building on reductions of 50% in 2021 and 36% in 2020.\n \n \n ·\n Revenue of £5.3m (2021: £5.7m), a decrease of 8%, but including a 33% increase in revenue attached to Gfinity's owned audience, technology and esports properties.\n \n \n ·\n Gross profit of £2.7m (2021: £2.6m), a 4% increase, despite the reduction in revenue, reflecting the higher margins attached to Gfinity owned properties.\n \n \n ·\n Adjusted administrative expenses of £4.7m (2021: £5.4m) down 13% year on year.\n \n \n ·\n Closing year-end cash of £2.1m, with a further £2.7m of unexercised warrants.\n \n \n \n \n \n \n Gfinity CEO, John Clarke, commented:\n \n \n \n \"The transformation of Gfinity's business model is now well underway. It is delivering improved financial performance and we continue on a pathway towards profitable growth. We are building shareholder value through Athlos, our owned tech IP licensing business. The plug and play nature of what the team has built is gaining momentum, being adopted by game publishers large and small. Our owned community of hard to reach gamers, GDM, is driving value by deepening engagement with users. And our excellence in the digital racing and football space makes Gfinity a partner of choice with leading sports rights holders and brands. Competitive gaming is a growth sector and Gfinity has carved a niche for itself in the evolving ecosystem in the past year. This will serve us well in the years ahead.\"\n \n \n \n \n \n \n \n \n Operational highlights\n \n \n \n \n Gfinity Digital Media\n \n \n \n ·\n Average monthly active users of 14.5m, a 36% year on year increase\n \n \n ·\n Revenue per monthly active user 20p...