![]() ![]() This enables us to drive our existing revenue to completely new levels as can be seen in our average monthly revenue of top-tier games which grew from USD 400,000 in March 2021 to USD 730,000 in December 2021. On the channel side, we are getting closer and closer to our stores, allowing us to make more and more sophisticated marketing strategies for our games. This has been a real team effort and I am very pleased with how we executed on these focus areas. I am very pleased with our shortened delivery times time which allowed us to add a lot of quality users to the games early in their ramp up period. ![]() Our second focus area was to improve delivery times which became even more important as we needed to quickly launch our newly signed top-tier games ahead of the very important Christmas period. This has effectively doubled our revenue potential from our top-tier portfolio. In addition, we secured a two-year contract on six existing games and a new leading title adding in total four new titles to our top-tier games portfolio. During the year we signed some of the biggest titles in the market including Evony: The King’s Return, The Ants: Underground Kingdom and Puzzles and Survival. We started the financial year with focus on strengthening our portfolio of top games, while reducing the launch time for new games and we have clearly delivered on both points. This shows the scalability of our platform and our low marginal cost for generating new revenue. This is even more impressive when we consider that our cost base only grew by 23% for the same period, allowing us to drive adjusted EBITDA to GBP 0.4m. We set a target to grow our revenue by 40-60% during the year and we are very pleased that we generated 46% growth for the period when compared to the same period in the prior year. ![]() I am pleased to share Flexion’s annual report for the nine-month period to 31 December 2021. ![]()
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