9 August 2024: Asphere Innovations Public Company Limited has announced its financial results for the first half of 2024, demonstrating a strong commitment to sustainable growth despite challenges in the online gaming market. The Company managed to maintain its revenue level close to that of the first half of the previous year, with a total revenue of Baht 622.5 million, a slight decline of 2.3% compared to the same period last year. This was primarily due to a reduction in the number of online games offered, as well as the sale of its subsidiary in Malaysia at the end of the previous year.
However, through effective cost and expense management, particularly in marketing expenses and channeling fees, along with the ability to maintain the customer base of existing games, especially in the PC game segment, the Company achieved a net profit of Baht 125.8 million, representing an increase of 74.0% compared to the same period last year.
In Q2/2024, the Company recorded revenue of Baht 270.9 million and a net profit of Baht 49.0 million, a decline of 22.9% and 36.3%, respectively, from the previous quarter. This decline was due to the overall economic conditions affecting consumer spending, as well as the addition of only one new game (Immortal Kingdoms, expanded to the Philippines and Indonesia).
For the second half of the year, the Company plans to launch at least 3 new games. One of the flagship titles, MeloJam, a mobile music game, will be released in Southeast Asia in Q3. Building on the success of Audition, which is available in Thailand, Singapore, Malaysia, and the Philippines, MeloJam offers diverse features, including challenging gameplay modes for gamers and social interaction systems that allow players to engage in activities, create content, and share directly on social media. With its ability to meet the diverse needs of players, MeloJam has strong potential to penetrate the market and expand the player base significantly.
Finally, to align with the current economic conditions, the Company has adjusted its revenue target for 2024 to be on par with the previous year.
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