10 May 2024: Asphere Innovations Public Company Limited has announced its Q1/2024 operating results, reporting revenue of Baht 351.6 million, a growth of 9.8%, and net profit of Baht 76.9 million, an increase of 76.9% compared to the same period last year. Compared to Q4/2023, while revenue experienced a slight decrease of 9.6%, net profit continued to grow by 21.3%.
Mr. Gerry Ung, Chief Financial Officer (CFO) of Asphere Innovations PLC., revealed, “For the first quarter of 2024, the Online Gaming business unit launched three new mobile games (Black Moon in Southeast Asia, Immortal Kingdoms expanded services in Vietnam, Super Samkok Awakening in Thailand), Although the response to the new games did not meet expectations, the sustained player base of existing games resulted in revenue growth of Baht 31.4 million (9.8%) compared to the same quarter of the previous year. Despite a reduction in the number of existing games in service compared to the previous year, coupled with intensified expense management, absence of game impairment expenses, and profit from exchange rates, net profit increased by Baht 33.4 million (76.9%).
Furthermore, when comparing operating results with the previous quarter, net profit continued to increase by Baht 13.5 million (21.3%) for the reasons mentioned earlier. Revenue saw a decrease of Baht 37.3 million (9.6%), mainly attributed to the launch of two new mobile games in Q3/2023, which still managed to generate momentum. Additionally, when looking at the overall performance of the Company, it is evident that the latter part of the year typically yields higher revenue, aligning with the business’s seasonality and the success factors of new game launches.
Moving forward into the next quarter, the Online Gaming business unit will continue to execute its established strategies. Plans include the ongoing rollout of new mobile games, covering the Southeast Asia region. In Q2/2024, the Company launched Immortal Kingdoms in Indonesia and the Philippines, along with the casual game Wandering Ark in Southeast Asia. Moreover, negotiations are underway to partner with game developers from Europe to co-publish games in Southeast Asia, another business model aimed at bolstering the online gaming segment.
As for the Blockchain and Innovation Technologies business unit, the official launch of TSX game on the Astronize platform covered 26 countries worldwide on 18 April 2024. The game has received overwhelming responses from players, with over 200,000 downloads within the first two weeks. It ranked as the top free game on the App Store and second in the Role-Playing Game category on the Google Play Store in Thailand, the primary market followed by Vietnam. Plans are also in place to launch an additional new game later in the year.”
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