BUCHAREST (Romania), May 30 (SeeNews) – Romanian mobile game developer Firebyte Games said on Monday it recorded a net profit of 195,000 lei ($42,400/39,400 euros) in the first quarter of 2022, after posting a loss from 714,000 lei during the same period last year.
Firebyte Games reported revenue of 1.6 million lei for the first three months of 2022, a tenfold increase from the same period last year, the company said in a stock exchange filing. from Bucharest.
In April, the company signed a 90,000 euro ($96,800) per month contract with French video game developer Voodoo, for Firebyte to extend the functionality of some of Voodoo’s existing products.
Firebyte also entered into a revenue-sharing deal with an undisclosed publisher in February, which is expected to generate revenue totaling at least €168,000, paid out over the next 12 months, plus additional revenue of 40% profits generated by the proceeds of the partnership.
In May 2021, Firebyte established a subsidiary in Turkey, citing lower development costs.
Founded in 2017, Firebyte Games is a Cluj-based video game development company specializing in mobile games. Based on a financial report filed on the Bucharest Stock Exchange, the company recorded losses of 2.3 million lei in 2021, as well as a net profit of 304,000 lei in 2020. Its turnover has reached 2.6 million lei in 2021, as well as 689,300 lei in 2020.
Shares of Firebyte traded up 1.02% at 0.495 lei/share at 10:25 CET on Monday at the Bucharest Stock Exchange.
(1 euro = 4.9429 lei)