In 2023, the game developer and publisher generated 24.9 million PLN in net profit, which is almost double the amount generated in the previous year. Artifex Mundi’s YoY revenue increased by 114% to 82.5 million PLN. The incremental increase in the results recorded by this listed company is attributable to its flagship product, Unsolved, whose commercialization in 2023 brought in over 70 million PLN in revenue, which is 222% more than in the previous year. The company’s goals for 2024 include a double-figure percentage growth in the sales potential of Unsolved and the presentation of a new Artifex Mundi-branded game.
Artifex Mundi’s operating result increased by 142% to 24 million PLN. Normalized EBITDA increased from 16.4 million PLN in 2022 to 29.3 million PLN in 2023. Despite significant investment in the implementation of two game projects, the value of Artifex Mundi’s financial assets (cash and bonds) increased by over 7 million PLN last year and exceeded 31 million PLN at the end of December 2023.
For Unsolved, which is key for the company’s current results, last year was focused on easily achievable business opportunities, such as expanding the game’s content to increase profits. Throughout 2023, Unsolved offered its users access to 12 new adventures, thus increasing their total number to 43. As a result of the implemented changes, the LTV of a statistical consumer of Unsolved increased by over 80% in 2023, which then created space for multiplying marketing investments. The gross margin of the game (income minus user acquisition expenses) increased from an average of 0.8 million PLN per month in 2022 to over 4 million PLN in the last month of 2023.
Przemysław Błaszczyk, CEO of Artifex Mundi, emphasizes that the company still has much to do with the Unsolved project. – The substantial potential of Unsolved is hindered by the lack of an engaging metagame. We expect this situation to drastically change in the not-so-distant future. By the end of 2024, we would like to complete the majority of works related to the development and implementation of the metagame layer to the game, which will lay the foundation for multiplying the LTV of Unsolved and turn it into one of the most profitable titles in this market segment – Błaszczyk explains. The CEO of this listed company emphasizes that the development of Unsolved in 2024 will not be limited to metagame works. – Our expectation is that implementing a few minor changes and continuing to improve the game’s content systematically by adding new adventures will boost the game’s LTV in 2024 by a small double-digit percentage, having a definite positive impact on revenue generation – he adds.
In 2024, Artifex Mundi wants to present players with a new RPG title. The company intends to carry out further testing midyear. Upon the successful completion of tests, the project will be revealed and marketing activities will start. – In 2023, we reaffirmed our belief that we are creating a valuable and, in many aspects, innovative and exceptional product in an attractive business segment. We are pleased with the progress of work on the game and eagerly await the opportunity to present it to a wider audience – says Przemysław Błaszczyk.
