Animoca Brands Corporation Ltd (ASX:AB1) has achieved the strongest financial performance in its history for the 12-month period ending December 31, 2018 (FY18).
The company’s revenue of $13.5 million ($17.5 million including other income) and cash receipts of $15.7 million represents increases of 100.46% and 144.76%, respectively, on FY17.
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Importantly, Animoca became operationally cash flow positive in FY18. The company ended the period well-positioned with $9.2 million in cash.
The financial year 2018 was a transformational year for Animoca, during which time the results of the restructuring undertaken in 2017 began to emerge.
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Following a year of divestment, in 2018 the company focused on growth and expansion as it secured success in its core business of mobile games, generating significant revenues and being named one of the world’s top 50 developers of 2018 by PocketGamer.
Animoca also began expanding into two technology spaces that it believes will significantly impact the mobile game industry: artificial intelligence (AI) and blockchain.
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Shortly after the end of the 2018 financial year, the company announced a strategic partnership with WAX Blockchain to offer digital items from The Sandbox for sale on the WAX platform and launched the Android version of Crazy Defense Heroes on Google Play Early Access.
Animoca also secured a strategic investment of US$1 million into its OliveX subsidiary, further strengthening that company’s position in the burgeoning health and fitness technology market.