This WSE-listed game developer and publisher ended the first 9 months of 2023 with a 100% increase in revenue up to 59.1 million PLN, thus generating 16.3 million PLN of operating profit (twice the amount generated in the previous year). The company’s normalized EBITDA increased by 7 million PLN to 20.2 million PLN. The driving force behind Artifex Mundi is the company’s key product, Unsolved. The revenue from this game’s commercialization tripled within 9 months and reached 50.1 million PLN.
In Q3, Artifex Mundi increased its revenue by 166% to 23.6 million PLN, generating 7.8 million PLN of normalized EBITDA (4.2 million PLN in the previous year) and 6.4 million PLN EBIT (increased by over 160%).
The company’s net profit for the nine months of this year amounted to 14.3 million PLN (7.8 million PLN in the previous year) and in the previous quarter it reached 4.5 million PLN (1.7 million PLN in Q3 2022).
Unsolved, an application offering its users free-to-play access to some of the best HOPA games from Artifex Mundi’s portfolio, boosts the results every quarter. Its commercialization in Q3 generated 21.0 million PLN in revenue, which is 285% more than in Q3 of this year. In Q2, the company’s revenue increased by 236% and in Q1 by 110%. This dynamic increase in revenue is due to the development of the application and improvement of its key performance indicators (KPIs) that allow the systematic increase of investment in user acquisition (UA) for Unsolved. In Q3, the revenue from the commercialization of Unsolved minus UA expenses amounted to 8.1 million PLN (a YoY increase of 200%) and in the first nine months of 2023, 18.9 million PLN (6.4 million PLN in the same period of 2022).
– Our results this year significantly exceeded our ambitious plan for Artifex Mundi’s development in 2023. We are not resting on our laurels, though. We think Unsolved has the potential to enjoy a much larger base of regular users, bringing in many times more revenue. Releasing the game’s potential is a project spread over years. We systematically implement subsequent modifications in Unsolved while working on greater changes, mostly in the metagame area, which will be implemented within a few quarters, – says Przemysław Błaszczyk, CEO of the listed company.
