Revenue of $20.8M in Q1 2024 A-EBITDA of $4.1M in Q1 2024 Launched AEW: Rise to the Top Cash Balance increased to $7.25M
VANCOUVER, BC, May 8, 2024 /CNW/ - East Side Games Group (TSX:EAGR) (OTC:EAGRF) ("ESGG" or the "Company"), today announced financial results for the first quarter of 2024. All amounts are stated in Canadian dollars on an IFRS basis unless otherwise indicated.
The Company is delighted to announce a strong start to 2024, with revenue of $20.8 million and adjusted EBITDA of $4.1 million, representing an impressive 19.65% margin. This performance underscores the company's commitment to prioritizing profitability and building on the momentum generated from last year's restructuring.
Notably, the first quarter also marked the worldwide release of the IdleKit-based mobile game 'AEW: Rise to the Top'. This has set the stage for an exciting year ahead for ESGG within the idle genre as well as new MatchKit-based games. In '23, ESGG launched the Match-3 game, 'Bud Farm Munchie Match', which exceeded industry standards with over 60% Day-One player engagement and Day-Thirty retention exceeding 15%. Building on its success, ESGG has now launched '
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