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Flexion Q4 Report – 31 December 2021

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Flexion produces record results: 52% growth in revenue, 63% growth in gross profit and 163% growth in EBITDA

October 2021 to December 2021 performance

  • Total revenue increased by 52% to GBP 10.5m (GBP 6.9m)*
  • Gross profit increased by 63% to GBP 1.5m (GBP 0.9m)
  • Adjusted EBITDA increased by 163% to GBP 0.33m (GBP 0.13m)
  • Operating profit increased to GBP 0.63m (GBP 0.06m)
  • Earnings per share amounted to GBP 1.28 pence (GBP 0.13 pence)
  • Cash amounted to GBP 14.5m (GBP 12.4m)

April 2021 to December 2021 performance

  • Total revenue increased by 46% to GBP 26.1m (GBP 17.9m)*
  • Gross profit increased by 43% to GBP 3.4m (GBP 2.4m)
  • Adjusted EBITDA increased by 68% to GBP 0.43m (GBP 0.25m)
  • Operating result increased by 734% to GBP 0.56m (GBP 0.07m)

Important events during the quarter

  • Launch of Evony: The King’s Return from Top Games Inc.
  • Launch of The Ants: Underground Kingdom from StarUnion
  • Launch of Puzzles & Survival from 37Games
  • Signing of Mahjong Treasure Quest from Vizor

Important events after the quarter

  • Strategic investment in mobile game influencer, Liteup Media UG
  • Alignment of the financial year with the calendar year by closing the current financial year after 9 months in December 2021

* Comparable number for the same quarter of the previous financial year in brackets
‡ The Company defines adjusted EBITDA as earnings before interest, tax, depreciation, amortisation, finance costs, impairment losses and other income. Adjusted EBITDA (adjusting operating profit for several non-cash items) is used by the Company for internal performance analysis to assess the execution of our strategies. Management believe that this adjusted measure is a more appropriate metric to understand the underlying performance of the Company

Notes from the CEO

What a great quarter we had – our best so far! We entered the 4th quarter with three new top titles leading up to the important Christmas period and I am really pleased that we managed to launch all of them and benefit from store promotions during the festive season.

Evony: The King’s Return, The Ants: Underground Kingdom and Puzzles and Survival are some of the biggest titles in the market and generated more than USD 40m in Google Play during December. These are now part of our portfolio and contributed to our strong performance in Q4. We experienced 52% growth in quarterly revenue compared with the same period last year and an increase of 46% for the whole year, which was in line with our guidance. The strong performance can also be seen in gross profit and EBITDA, up 63% and 163% respectively.

In 2021, we reached critical mass on the platform, and that’s why we now see a positive effect on our EBITDA for each new game we launch. I am also very happy that we generated GBP 0.6m in net profit for the period partly thanks to the recovery of GBP 0.4m from the impairment write-down we made in March 2020. These titles performed better than expected and are now generating positive contribution.

We added one more leading developer during the quarter, Vizor Games, and we are preparing to launch their title Mahjong Treasure Quest. On the back of our current strong performance and growing portfolio, we are actively phasing out low performing titles. This will help us improve the overall portfolio’s performance and increase the average revenue per game. Our top-tier monthly average has improved from USD 560K in Q3 to USD 730K. This can be seen in our KPI section on page 12.

We have now started to invest in new strategic initiatives within paid user-acquisition, with focus on influencer marketing and performance marketing to support our core business and to expand our footprint into the game services market as previously announced. The plan involves acquisition of talent through investments and acquisitions, but we are also strengthening our development and product teams to support these new initiatives. Our first step into influencer marketing was the investment made in January 2022 in Liteup Media. Liteup Media is a promising German start-up that has set out to disrupt influencer marketing and make it more mainstream and accessible to mobile game advertisers. This investment is attractive to us as we get a foot in the door in influencer marketing, while we have the option to acquire the company.

Looking at the wider market, we can see some clear market trends in favour of new services such as influencer marketing. This is partly due to privacy changes such as deprecation of IDFA by Apple, which makes it more difficult to target and track users. Google have also announced that it will make similar changes adding to the problems for traditional performance marketing. In parallel, we are seeing new demand for influencer marketing from blockchain-based games and NFTs. New marketplaces outside the traditional app stores are evolving for these games, adding to more market fragmentation. This in turn will drive new trends in user acquisition which we want to capitalise on. Other interesting recent moves that will expand our market is Microsoft’s support for Android on Windows 11, through their Amazon Appstore partnership. This project is now publicly launched by Microsoft, and Flexion is already supporting it. In addition, Netflix has entered the overall games market principally to support their core business and recently announced it stepped up its push into gaming by acquiring Next Games, a NASDAQ First North listed game developer.

We are now entering a new financial year and the traditionally weaker Q1 period. Our performance has so far been in line with expectations, we are focusing on growing revenue and audiences for our new top titles. On the back of our strong momentum coming into the new year, we expect our annual revenue to grow with 40-60% and our staff cost by 8-12% during 2022. This growth is driven by our core strategy, while new initiatives are ramping up during 2022. Overall, it should set us up for another strong and exciting year.

I would also like to comment on Flexion’s exposure to the terrible events happening in Ukraine and our thoughts are with all those affected. As a company with business in global markets, we have to date not seen any political events where mobile games have been sanctioned and we do not foresee that happening here either. We are very fortunate that our staff have not been exposed to the region, none of our developer contracts are with Russian companies and our settlement structure is relatively well protected against payment freezes or delays. The risks we see lie within the highly volatile Russian Ruble and the ability of our channel partners to transfer funds out of Russia. So far, the effects on Flexion have been limited and in February less than 10% of our global revenue was generated in the Russian market. The situation is very fluid, and we are monitoring it closely.

Finally, I would like to thank all Flexion staff for a fantastic year and welcome our new colleagues at Liteup Media to the Flexion Group.

Jens Lauritzson – CEO

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XSOLLA INTRODUCES INNOVATIVE GAME COMMERCE SOLUTIONS AT GDC 2025

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Xsolla, a leading global video game commerce company, announces its participation at the Game Developers Conference (GDC) 2025, taking place from March 17–21 at the Moscone Center in San Francisco, CA. Xsolla will showcase new and enhanced solutions designed to help developers fund, market, launch, and monetize their games effectively as part of its We Bring Opportunities Together initiative.

“At Xsolla, we’re focused on breaking down the barriers that prevent developers from transforming their ideas into successful businesses,” said Chris Hewish, Chief Strategy Officer at Xsolla. “GDC is a key opportunity to connect with game creators and demonstrate how our solutions streamline game commerce, from launching a game to entering new markets and driving revenue growth.”

Xsolla will highlight advancements across its platform, including enhancements to the industry-leading Web Shop, Cloud Gaming, MENA Payment Solutions, and the launch of new revenue-driving tools.

XSOLLA’S LATEST GAME COMMERCE SOLUTIONS

Xsolla’s latest updates and new solutions address the evolving needs of developers worldwide, enhancing game monetization and player engagement.

  • Xsolla Web Shop – With over 500+ Web Shops launched, generating incremental revenue for mobile game developers, Xsolla Web Shop has introduced new personalization and mobile accessibility features to improve the player purchasing experience. Developers can use real-time player behavior data to create dynamic, personalized promotions that increase conversion rates with the new features, including Progressive Web Apps (PWA), automated regional pricing, and a customizable loyalty program, creating the opportunity to increase Lifetime Value (LTV) by up to +30 percent.
  • Xsolla Cloud Gaming – Xsolla Cloud Gaming – Created and launched two new user acquisition tools for developers. First, the Play Before Your Buy feature allows players to stream time-limited game demos before key purchase or continue play in the cloud. Secondly, players can now play their PC game on a mobile browser using a virtual controller overlay for extended play on the go. These updates attract new types of users and enhance engagement while lowering hardware barriers to premium gaming experiences. ​ In addition, we have enhanced the backbone of the Xsolla Cloud Gaming offering with our latest integrated vendor partners – Amazon AWS and Tencent Cloud; partnering with Aethir on a new $1 million grant in cloud credits for developers.
  • MENA Payment Solutions – Expanded coverage in Egypt, Saudi Arabia, Iraq, Bahrain, and Jordan, with 11 new localized payment methods to improve accessibility for 380 million gamers, taking the total payment methods available for game developers globally to over +1,000.
  • Xsolla Publishing Suite – A direct-to-consumer (D2C) commerce solution giving developers greater control over game distribution, monetization, and marketing strategies. Developers can sell game keys, pre-orders, and in-game content with seamless web and in-game commerce integration with cross-platform purchasing support. This ensures seamless transactions between web stores and in-game purchases and built-in marketing and analytics tools to help developers optimize their sales funnels.
  • Xsolla Loyalty Program – Created a program to enable cashback rewards, cross-title loyalty programs, and tier-based incentives to drive repeat purchases and increase engagement with seamless integration with Xsolla Pay Station with no additional development.
  • Xsolla Offerwall – Delivers revenue-sharing opportunities and player experiences for monetization and advertising by allowing non-paying players to earn in-game rewards through advertiser-driven tasks. It supports CPI, CPA, and CPC models, offering developers up to 90% revenue share—well above the industry average. The platform also enhances security with SMS-based user authentication to prevent fraud and ensure a smooth experience for both players and developers.
  • Xsolla Gold Gift Card – Provides a flexible payment option for players who want to purchase or gift in-game content. Available in both physical and digital formats, enabling co-branded promotions and cross-platform redemption across multiple platforms, delivering seamless redemptions across mobile, PC, and console.
  • Xsolla Ecosystem – A curated marketplace of pre-validated partners, helping developers streamline vendor selection and reduce operational costs. Pre-integrated partners like G-Core, Game Analytics, Adikteev, and AppsFlyer provide trusted third-party services and seamless integration with Xsolla’s monetization, distribution, and payment solutions.
  • Xsolla Partner Network – Introducing advanced influencer marketing tools, making it easier for developers to collaborate with Twitch, YouTube, and TikTok content creators. AI-powered creator discovery, helping developers find the best influencers for their campaigns with built-in promo code and game key distribution tools, streamlining influencer partnerships and creator storefronts on Xsolla Mall, allowing influencers to sell digital game content directly to their audiences.

XSOLLA AT GDC 2025

Day Of The Devs 2025 Sponsored By Xsolla

Sunday, March 16 | 3:00 PM – 8:00 PM | The Midway, 900 Marin Street

Day of the Devs is a dedicated event celebrating independent game developers. It provides a unique opportunity in an inclusive space for indie developers to showcase their creative and innovative projects to a broader audience, which includes industry professionals, media, and gaming enthusiasts. Space is limited, so register here today! ​

Xsolla Booth at Moscone

Booth WL1-2 | Moscone West Lobby | Monday, March 17 – Friday, March 21

Attendees may visit the Xsolla booth located in Moscone West 1st floor lobby. New look, same expert team. Stop by with your questions. Take advantage of today’s opportunities and maximize your game’s commerce efforts. Enjoy SWAG giveaways, product demos, a comfortable lounge space, and more. See you there!

Xsolla’s Open House

Monday, March 17 – Thursday, March 20 | 09:00 AM – 6:00 PM | Friday, March 21 ​ | 09:00 AM – 3:00 PM | The Howard – 661 Howard St.

Everyone is invited – no GDC badge is required! Please join Xsolla at our exclusive Open House all week, steps away, and immerse yourself in a relaxed setting to connect with industry leaders, explore innovative solutions, and learn about best practices with great companies. Enjoy hands-on product demos, insightful conversations, and a comfortable space to unwind – all while discovering new ways to maximize your gaming business.

Join Xsolla GDC Mixer

Monday, March 17 | 8:00 PM – 10:00 PM | The Howard, 661 Howard St. 

The Xsolla GDC Mixer in partnership with AppsFlyer, AWS, and Nazara Technologies is a fantastic opportunity to join the gaming community for a light snack and soft drinks, share your current work, and receive expert input. If you’re an indie developer or creator, hurry up and register! There are a limited number of invitations for this event. Invitees will be notified by email.

Xsolla Salons

Monday, March 17 – Thursday, March 20 | The Howard, 661 Howard St. 

Xsolla Salons with gaming experts will gather at The Howard for open, insightful conversations that move our industry forward.

Xsolla Game Night

Tuesday, March 18 | 6:00 PM – 9:30 PM | Moscone South Esplanade rooms #154 & #156

An evening of classic table games like UNO™, Rock ‘Em Sock ‘Em ​ Robots™, and many more. Are you a soccer fan?? This year, we’re bringing Electronic Arts’ legendary EA FC 2025 for Playstation™, AND we’re introducing a pop quiz with a chance at prizes! Doors open at 6:00 PM, with light snacks and soft drinks to keep you powered up. Play with fellow game enthusiasts, meet great people, and socialize early ahead of GDC!

XSOLLA SPEAKING SESSIONS AT GDC 2025

The Industry: Where We Have Been & Where We Are Going

Tuesday, March 18 | 9:30 AM – 10:30 AM | Moscone West Room #2024

Chris Hewish explores the evolution of gaming, emerging trends, and the future for developers and publishers. The video game industry has evolved from niche entertainment to a global economic powerhouse fueled by rapid technological advancements, shifting player expectations, and new business models. In this session, we’ll look back at the key milestones that have shaped the industry—from the rise of digital distribution and free-to-play monetization to the emergence of cross-platform play and live-service gaming. Join Chris for a deep dive into the past, present, and future of gaming, with insights on how to navigate the industry’s next significant shifts.

The Scariest Threat In Mobile Gaming: Losing Control Of Your Players

Tuesday, March 18 | 10:50 AM – 11:50 AM | Moscone West Room #2024

Berkley Egenes and Josephine Friday discuss how Web Shops help developers regain control over sales, marketing, and player relationships. In mobile gaming, the biggest nightmare isn’t player churn or high UA costs—it’s losing control of your players. When you rely solely on third-party platforms, you give away valuable player data, sacrifice revenue to hefty platform fees, and limit your ability to engage your audience directly. The scariest part? You’re building someone else’s business instead of your own.

Xsolla Pay – Powering Payments, P(l)ay By New Rules

Tuesday, March 18 | 1:20 PM – 1:50 PM | Moscone West Room #2024

Svante Westerberg from Xsolla and Rafael Morgan from Crazygames share how outdated payment models limit revenue and how Xsolla Pay enables global reach and seamless transactions. ​ In gaming, payments aren’t just about transactions—they shape the player experience. Yet, many developers are playing by outdated rules, losing revenue to high fees, limited payment options, and platform restrictions. But what if you could change the game? With new advancements in payment technology, developers now have more control than ever. Imagine offering players seamless, frictionless checkout experiences, supporting their preferred payment methods worldwide, and unlocking new markets without barriers.

Breaking Myths: The Truth About Measuring UX and Player Acquisition in Mobile Games

Tuesday, March 18 | 2:10 PM – 2:40 PM | Moscone West Room #2024

Berkley Egenes from Xsolla and Adam Smart from AppsFlyer break down misleading metrics, player retention strategies, and effective acquisition tactics. When we discuss experience and player acquisition in mobile games, there’s no shortage of myths, misleading metrics, and guesswork. Are your ads bringing in valuable players —or installs that churn? Does your UX keep players engaged, or are hidden friction points driving them away? It’s time to cut through the noise and get to the actual data. In this session, we’re bringing in Xsolla’s Partners at AppsFlyer and a real success story to share real-life case studies and hard-hitting insights on measuring, analyzing, and optimizing retention and acquisition more effectively.

The Dirty Truth About Funding And Games

Tuesday, March 18 | 3:00 PM – 3:30 PM | Moscone West Room #2024

Justin Berenbaum from Xsolla, Jenny Xu from Talofa Games, and Tony Grayson from Summitsphere uncover the biggest mistakes in game funding and how developers can secure investment successfully. Securing funding for your game can be the difference between launching a hit or watching your project crash and burn. But too many developers fall into the same traps—signing bad deals, giving up too much control, or running out of money at the worst possible moment. Don’t let that be you.

Gaming in 2030: The Future of Play

Tuesday, March 18 | 3:50 PM – 4:20 PM | Moscone West Room #2024

Sam Gaglani and industry partners explore the future of gaming, personalization, and new monetization models. The video game industry is evolving faster than ever—so what will gaming look like in 2030? In a future-focused session, we’ll explore the technologies, trends, and challenges shaping the next era of gaming. From hyper-personalized experiences to new ways of owning and monetizing content, we’ll dive into what’s coming—and how studios can stay ahead of the curve.

Influencers in Gaming: Hype? Hustle? Huge ROI?

Tuesday, March 18 | 4:40 PM – 5:10 PM | Moscone West Room #2024

Rix Tran and partners will talk about the impact of influencers in gaming. Influencers are everywhere in gaming—driving hype, shaping player opinions, and making or breaking game launches. But are they worth the investment, or is the industry stuck chasing clout with no clear ROI? In this no-nonsense session, we’ll break down the real impact of influencers in gaming. From massive successes to costly misfires, we’ll explore what works, what doesn’t, and how to tell the difference.

WTF: Web3, Tokens and Fun!

Tuesday, March 18 | 5:30 PM – 6:00 PM | Moscone West Room #2024

Lee Jacobson and Rytis Joseph Jan from Xsolla and Jose Anaya from MatterLabs/ZKsync look candidly at the state of Web3 gaming, separating hype from real opportunities. Web3 promised to change gaming forever with player ownership, decentralized economies, and new monetization models. But let’s be honest: the road has been anything but smooth. So, where do we go from here? Most importantly, how do we make Web3 games that are truly fun—not just financial experiments disguised as gameplay? Join us as we separate fact from fiction, share hard-earned lessons, and explore the future of blockchain-powered gaming.

CONNECT WITH XSOLLA AT GDC 2025

Schedule a meeting with Xsolla’s game commerce experts: GDC 2025 | Schedule a meeting with Xsolla Learn more about speaking sessions and networking events: Join us at GDC 2025! | Xsolla

 

The post XSOLLA INTRODUCES INNOVATIVE GAME COMMERCE SOLUTIONS AT GDC 2025 appeared first on Gaming and Gambling Industry in the Americas.

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XSOLLA LAUNCHES THE XSOLLA GOLD GIFT CARD TO ENHANCE GAME BRAND VISIBILITY THROUGH PHYSICAL AND DIGITAL CHANNELS, OFFERING GAMERS A NEW WAY TO PAY

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Xsolla, a leading global video game commerce company, announces the launch of the Xsolla Gold Gift Card, a flexible payment solution designed to enhance how gamers purchase, gift, and redeem virtual goods. Available in physical and digital formats, the Xsolla Gold Gift Card provides players with an accessible and convenient way to engage with their favorite games across multiple platforms.

As the global gift card market is projected to reach $5.3 trillion by 2033, developers face increasing opportunities to expand their monetization strategies and engage players more effectively. The Xsolla Gold Gift Card offers a seamless way for players to acquire in-game items, gift content to friends, and redeem rewards, enriching their gaming experience. This solution unlocks new revenue streams for developers, enhances brand visibility, and enables targeted marketing initiatives, including co-branded promotions and customized campaigns.

Discover the standout benefits making this gift card a game-changer for players and developers:

  • Flexible Distribution Options: Includes physical and digital cards, ensuring broad accessibility for players worldwide
  • Enhanced Community Engagement: Encourages players to share gaming experiences through gifting, fostering deeper connections within gaming communities
  • Monetization and Marketing Opportunities: Leverages gift cards for cross-promotions, partnerships with retail brands, and exclusive in-game offers, driving increased engagement and revenue for developers
  • Cross-Platform Usability: Fully compatible across multiple platforms and game titles, catering to a diverse player base with various spending preferences

“We’re excited to offer a gift card to help simplify how players purchase and share virtual goods while helping developers increase player retention and engagement through strategic integrations,” said Chris Hewish, Chief Strategy Officer of Xsolla. “The Xsolla Gold Gift Card allows us to continue innovating, enhancing how players interact with their favorite games and how developers can reach a broader audience.”

The Xsolla Gold Gift Card will be available in various denominations, adapting to different player needs. Developers can integrate these cards into their ecosystems to enhance player engagement and drive monetization through tailored campaigns and promotions.

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XSOLLA PARTNERS WITH POCKET GAMER CONNECTS TO EMPOWER MOBILE GAME DEVELOPERS IN 2025

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Xsolla, a leading global video game commerce company, is deepening its commitment to mobile game developers through a strategic partnership with Pocket Gamer Connects (PGC) in 2025. As the industry leader in Web Shop development and management, with over 500+ Web Shops generating revenue, Xsolla is also leading the way in direct-to-consumer monetization in the video game industry. Xsolla will showcase its latest innovations in mobile game monetization, user acquisition, and cross-platform analytics throughout key global PGC events.

Supporting Mobile Developers at PGC Events Worldwide

Xsolla will sponsor Pocket Gamer Connects events in 2025, bringing its expertise in direct-to-consumer monetization and engagement strategies to the following locations:

  • PGC San Francisco (March 17-18)
  • PGC Dubai (May 7-8)
  • PGC Barcelona (June 3-4)
  • PG Summit Shanghai (July 30)
  • Mobile Games Awards at Gamescom (August)
  • PGC Helsinki (October 7-8)

Xsolla will engage with developers at each event through thought leadership sessions, panel discussions, and networking opportunities. It will offer data-driven insights and solutions to help mobile developers maximize revenue beyond traditional app stores.

Advancing Web Shop Monetization with AppsFlyer Integration

A key component of Xsolla’s presence at PGC will be its partnership with AppsFlyer, the global leader in mobile measurement and data analytics. Together, they have developed a first-in-the-industry integration that solves cross-platform attribution challenges, giving mobile game developers the tools to:

  • Measure Web Shop purchases as in-app events for accurate LTV and ROAS tracking.
  • Seamlessly attribute Web Shop revenue to mobile user acquisition, re-engagement, and retention campaigns.
  • Optimize ad spending across mobile and Web Shops with real-time analytics, all without requiring coding from developers.

Xsolla’s Web Shop solution has already transformed mobile game monetization, enabling 500+ developers to generate direct-to-consumer sales online while pushing players to pay on their mobile devices. By integrating AppsFlyer’s measurement tools, Xsolla ensures that mobile developers gain a complete, end-to-end understanding of the user journey across platforms, allowing them to make smarter business decisions and improve ROI.

“Xsolla’s Web Shop has revolutionized how mobile game developers monetize online, and our integration with AppsFlyer takes it to the next level,” said Berkley Egenes, Chief Marketing & Growth Officer at Xsolla. “By bridging the data gap between Web Shops and mobile applications, we empower developers with the insights they need to optimize performance, increase revenue, and engage players more effectively. We look forward to engaging directly with the community and hearing from the Pocket Gamer community throughout the year at each event around the world.”

Strengthening the Global Mobile Gaming Ecosystem

Xsolla’s continued investment in mobile game commerce solutions aligns with Pocket Gamer Connects’ mission to support and connect game developers worldwide. With the combined power of Web Shop, AppsFlyer integration, and a direct presence at major industry events, Xsolla is committed to helping mobile game creators navigate monetization challenges and drive sustainable growth.

“Pocket Gamer Connects is the world’s leading event series for mobile game developers (and others) and we’re thrilled to have Xsolla as a key partner in 2025,” said Chris James, CEO at Steel Media, Pocket Gamer’s parent company. “Xsolla’s expertise in mobile commerce, cross-platform engagement, and Web Shop monetization makes them an invaluable resource for developers looking to scale their businesses.”

By partnering with Pocket Gamer Connects, Xsolla ensures mobile developers worldwide can access the latest technology, insights, and business models to thrive in today’s competitive gaming market.

For more information on Xsolla Web Shop and its integration with AppsFlyer, visit: xsolla.blog/xsolla-appsflyer

Join us at Pocket Gamer Connects 2025 to connect, learn, and explore new opportunities in the gaming industry.

The post XSOLLA PARTNERS WITH POCKET GAMER CONNECTS TO EMPOWER MOBILE GAME DEVELOPERS IN 2025 appeared first on European Gaming Industry News.

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