According to preliminary financial data, in the 2nd quarter of the current year, the publicly listed game developer and publisher doubled its revenues and recurring operating profit (stripped of the influence of non-cash expenses for an incentive plan), achieving PLN 19.6 million and PLN 5.5 million, respectively. In the past quarter, Artifex Mundi’s recurring net profit increased by 259%, reaching PLN 5.6 million. In the whole first half-year, the publicly listed company earned revenues of PLN 35.6 million (71% YoY increase), generating a recurring operating and net profit of PLN 10 million (56% and 46% increase respectively).
Artifex Mundi ended the first half-year with PLN 22.3 million in cash and short-term investments (bonds), compared to PLN 21.2 million at the end of 2022 and PLN 20.0 million at the end of the second half-year of 2022. The available cash value increased despite the simultaneous investments in the development of a new RPG and the Unsolved application, which provides players with free-to-play access to some of the best HOPA games available in the Artifex Mundi’s portfolio.
The rapid improvement of the company’s results is possible thanks to the Unsolved game, whose YoY increase in revenues from commercialization amounted to PLN 11.8 million in the 2nd quarter and PLN 18.2 million in the whole first half-year period, reaching PLN 16.8 million and PLN 29.1 million respectively. The growing surplus of revenues from the commercialization of Unsolved over the player acquisition costs translated into a dynamic profit growth of Artifex Mundi.
Przemysław Błaszczyk, President of Artifex Mundi, emphasizes that the results obtained in the past are not the limit of what the publicly listed company can achieve in terms of dynamic sales and profit increase.
“Unsolved, which has recently served as our company’s driving force, is not a mature product yet. Quite the contrary – we expect the changes that we are planning to introduce to Unsolved, including the implementation of the so-called metagame, which takes the players’ engagement to the next level, to significantly increase and even multiply its revenue-generating potential. Artifex Mundi’s medium-term goal is to have two commercially performing free-to-play games. Every month of working on the second of the company’s strategic projects – the development of a new mobile RPG, for which we have equally high hopes – brings us closer to achieving this goal,” says Przemysław Błaszczyk.
