In Q1 2021 the Company generated record-high revenue of USD 95.7m, an increase of 26% year-on-year. The main growth driver was the continued improvement in monetization across the Company's portfolio. In-app purchases, which accounted for 96% of revenues in the first quarter, increased by USD 16.5m (22% yoy), while advertising revenue increased almost fivefold due mainly to the development and scaling of new casual games.
- Revenue from the Company’s core franchises (Huuuge Casino and Billionaire Casino) increased by 16%, thereby confirming the evergreen nature of these titles.
- The revenue from new titles tripled compared to Q1 2020, and was 28% higher than in Q4 2020, constituting 12% of total revenues in Q1 2021 (compared to 5% in Q1 2020 and 9% in Q4 2020). This rapid increase was attributable mainly to the growing user base and improving monetization measured by the number of daily paying users. The development of new products and the scaling of new franchises is one of Huuuge’s key focuses in 2021.
According to Anton Gauffin, founder and CEO of Huuuge: “After the first quarter we are well on track to delivering our goals for 2021. Revenues from our core franchises increased by 16% in the first quarter and the growth in revenue from our new titles tripled compared to Q1 2020, growing for the fourth consecutive quarter. In April 2021 we completed the acquisition of Traffic Puzzle, the top-grossing match-3 hit game in our publishing portfolio. This marked the first milestone in the Company’s growth and M&A journey, as we expanded our reach into the high-growth casual games segment worth USD 10.6 bn. We continue to focus on improving our profitability and further expanding business through M&A, while increasing the monetization metrics within our existing games and scaling new franchises”.