East Side Games Group (TSX:EAGR, OTCQB:EAGRF) (ESGG) has announced first-quarter 2023 revenue of $24.3 million, along with Adjusted EBITDA of $2.6 million, which the company called a “strong start” to 2023 and the beginning to an “exciting year” following the recent release of its Milk Farm Tycoon and Doctor Who: Lost in Time games.
The free-to-play mobile game group said new collaborations, such as its recently announced Jazwares partnership, will continue to demonstrate the company's commitment to focusing on large IP-driven games with cult-like followings, for which it has had previous success.
“Munchie Match continues to post the most impressive retention numbers of any LDRLY title with Day One retention rates over 50% and Day Seven retention over 25%,” ESGG CEO Jason Bailey said in a statement.
“Event-driven LiveOps are being added to the game with a regular cadence and we expect the game to be ready for a large marketing push by mid Q3,” he added.
ESGG noted that it ended the quarter with $3.1 million in cash as of March 31, 2023.
As well, the company stated that it invested $1.3 million in new game R&D and GameKit during the period.
Based in Vancouver, Canada, East Side Games is a leading free-to-play mobile game group creating engaging games that produce enduring player loyalty.
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