In a statement at its annual general meeting, the AIM-listed video game developer said its development pipeline was “very strong” and was trading in line with expectations ahead of its interim results in September.
The firm added that it was continuing to operate with a positive cash balance and would be exploring “suitable acquisition opportunities” going forward.
Regarding the software market, Sumo said it was “well positioned to take advantage of growth”, citing a report from the Association for UK Interactive Entertainment (UKIE) that the global software market is forecast to grow to US$180.1bn in 2021 from US$137.9bn in 2018.
2018 will be the first full year of the company trading on AIM following its float on 21 December 2017, in which it raised £78.2mln.
Shares were up 12.8% at 185p.