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Animoca Brands delivers strong top line growth in December quarter

The company’s cash receipts from customers of $10.1 million for the quarter is a 47% increase compared to the December 2018 quarter.

Animoca Brands Corporation Ltd - Animoca Brands delivers significant top line growth in December quarter
Animoca is planning to launch The Sandbox blockchain platform in the first half of 2020

Animoca Brands Corporation Ltd (ASX:AB1) has achieved significant growth during the December quarter through strategic agreements and acquisitions.

The company reported cash receipts from customers of $10.1 million for the quarter and $25.1 million for the year.

Sky Mavis investment round

During the December quarter, Animoca acquired US$420,000 worth of shares in Sky Mavis, the maker of blockchain game Axie Infinity, which is among the highest-grossing blockchain games ever.

The company led an investment round into Sky Mavis totalling US1.4 million which included leading investment groups Hashed, Pangea Blockchain Fund, ConsenSys and 500 Startups.

nWay acquisition

Animoca entered into an agreement in December 2019 to acquire nWay, a San Francisco based developer and publisher of competitive multiplayer games across mobile, consoles, and PC.

nWay holds the global licence, granted by Lionsgate and Hasbro, to make use of the Power Rangers brand and boasts a revenue of ~US$7 million.

The acquisition is for US$7.69 million (US$.194 million in cash and the remainder in shares priced at 18 cents per share).

nWay management has experience with Google, Tencent Sony, Nintendo, LucasArts and Kabam and is expected to be highly complementary to Animoca’s established team.

Looking forward

Animoca is planning to launch The Sandbox blockchain gaming platform in the first half of 2020 to underpin further growth

The Sandbox is a community-driven platform where creators can monetise digital assets and gaming experiences.

Quick facts: Animoca Brands Corporation Ltd

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ASX:AB1
Market: ASX
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