Huuuge Games Reports $140.934 Million Revenue in H1 2023
Huuuge Games, a leading mobile gaming company, has released its latest financial report, revealing that it generated $140.934 million in revenue in the first half of 2023. Although this represents a 13.76% decline compared to the same period in 2022, the company also experienced significant growth in operating profit.
Operating profit increased by an impressive 123.71%, rising from $21.859 million to $48.902 million. Additionally, Huuuge Games saw a substantial increase in EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization), which surged by 97.9%, reaching $53.589 million in H1 2023.
Furthermore, the company’s EBITDA margin witnessed a significant improvement, rising by 21 percentage points from 16.6% to 38%. Huuuge Games also recorded a 32.5% year-on-year increase in sales profit, which grew from $64.495 million to $85.442 million.
Huuuge Games President and CEO Anton Gauffin expressed his delight in the company’s progress, stating, “I am delighted to present to you our comprehensive report, showcasing the extraordinary progress we have achieved in the first half of 2023. This milestone marks an unparalleled achievement for Huuuge.”
Strong Performance From Core Franchises
During the second quarter of 2023, Huuuge Casino and Billionaire Casino, the company’s core franchises, accounted for 96% of its total revenue. Huuuge Casino alone contributed 63% and generated $1.2 billion in lifetime revenue. Billionaire Casino, first launched in October 2016, accounted for an additional 32% of Q2 revenue, with lifetime revenue of $560 million.
Despite a 1.2% quarter-on-quarter decline in the social casino genre, Huuuge Games remains optimistic about future prospects. Gauffin stated, “In this ever-changing landscape, our foremost operational priority is the continued generation of cash flow and the sustained vitality of our core franchises.”
The company’s commitment to enhancing revenue stability and predictability is evident in the recent upgrade to the Huuuge Casino game economy, launched in early August. The initial indications are promising, and Huuuge Games anticipates that this upgrade will establish higher engagement baselines with its core franchises.
Huuuge Games has been recognized as one of the top 50 mobile game makers of 2023.