Huuuge is an international free-to-play games developer and a global publisher of digital games on mobile and web platforms, with a mission to empower billions of people to play together, as part of the Huuuge vision to transform mobile gaming into a massively social experience.
Huuuge develops and publishes games globally and its users play its games in almost every country in the world. Development encompasses a full range of activities from generation of the initial idea, through beta testing and ultimately to global launch and live-operations. Huuuge has a proven track record of developing successful games within the social casino genre with its core titles: Huuuge Casino and Billionaire Casino. Publishing encompasses activities from the launch of a game onwards, including building relationships with distributors, marketing and continuous post-launch game optimisation.
The Huuuge Games brand was launched by Anton Gauffin in 2014. Anton created Huuuge when he reacquired Gamelion, a mobile game developer in Finland that he had initially established in 2002 and later sold to BLStream, from whom he bought it back.
Our incorporation in Delaware gave us an increased ability to maintain relationships with venture capital investors in the United States.
Our main operations, including game development operations, are located in Poland. We operate ten offices in different cities worldwide, including Tel Aviv, Israel; Limassol, Cyprus; and Las Vegas, Nevada. Our structure means that we have game development teams based in different locations globally and our senior management team likewise operates from various offices. Our largest three locations are in Poland, in Warsaw, Bydgoszcz and Szczecin.
Huuuge had 607 employees as of 30th September 2020.
We have over 5 million monthly active users as of 9M20.
We have multiple games at various stages of maturity in our portfolio, including, among others: social casino games: Huuuge Casino; Billionaire Casino; Stars Slots; and Huuuge Bingo. Huuuge’s portfolio also includes casual games, such as those under our Coffee Break Games label, as well as: Traffic Puzzle; Transport it!; Trolls Pop; Luna’s Quest Bubble Shooter; and games in the early stages of development: Arena, Rogue Land, Arrows & Empires, and Solitaire TriPeaks: Adventure Journey. Our most popular games are Huuuge Casino and Billionaire Casino. The majority of our revenue comes from two main titles Huuuge Casino (61% of 9M20 revenue) and Billionaire Cassino (34% of 9M20 revenue).
We expect to be publishing our results for the Full Year 2020 shortly.
For the nine months ended September 30, 2020 Huuuge generated consolidated revenue of USD 243.5 million compared to USD 187.3 million for the nine months ended September 30, 2019, reflecting a year-to-year growth of 30.0%. In the same period Huuuge’s consolidated adjusted EBITDA increased from USD 9.3 million to USD 54.2 million and its consolidated adjusted EBITDA margin increased from 4.9% to 22.3%.
Huuuge has achieved significant business growth in a short period of time. From 2017 to 2019, the Company’s consolidated revenue increased from USD 152.1 million to USD 259.4 million, reflecting a CAGR of 30.6%. In the same period its consolidated adjusted EBITDA increased from negative USD 4.3 million to USD 24.8 million and its consolidated adjusted EBITDA margin increased from negative 2.9% to 9.6%.
Huuge recorded a net profit of USD 4.3 million for 2019, while for the first nine months of 2020 it achieved a net profit of USD 24.8 million.
We generate revenue mainly through in-app purchases by players seeking greater engagement with our games and to a lesser extent through in-app advertisements.
Our independent auditors are PwC Polska.
Our business has been resilient in the period of the pandemic. Especially during lockdown, we have seen the popularity of mobile gaming increase as players spend a greater amount of time on our games and we expect this trend to continue. We have also successfully managed the company in the conditions of working from home and remote working.
We operate in a rapidly growing industry, and in order to capitalize on this, we need to prioritize growth activities, in particular, potential acquisitions, so we currently do not have a policy of paying dividends.
Huuuge is traded on the main market of the Warsaw Stock Exchange.
Our ticker symbol is HUGE. the abbreviated name is “HUUUGE-S144.
Huuuge completed its IPO in February 2021.
Shares in Huuuge can be purchase through a licensed securities broker licensed to trade on the Warsaw Stock Exchange shares under Regulation S/ 144A principle.
You can find a list of licensed brokers here: https://www.gpw.pl/lista-czlonkow-gieldy-regs
Our ISIN is US44853H1086.