Developer of mobile casino games and B2B mobile gaming platforms NEKTAN PLC posted information about its financial performance during the fiscal year ended 30 June 2015. Revenue amounted to £528,000 compared to the £1.87 million reported for the same period a year ago.
The company posted EBITDA loss of £5.1 million for the period in review compared to last year’s loss of £3.5 million. It said that EBITDA for the fiscal year was slightly ahead of expectations. The developer also noted that it has experienced strong growth in some of its key markets over the past year.
Operating loss amounted to £7.2 million. In comparison, the amount of £5.7 million was posted for the twelve-month period ended June 30, 2014. Loss before taxation totaled £8.1 million compared to the £5.7 million for the previous financial year. Adjusted loss before taxation amounted to £6.9 million compared to £5.5 million reported last year.
Despite the decrease in its key performance indicators, NEKTAN said that it was content with its performance over the fiscal year ended June 30, 2015. During the period in review, the company launched Sun Play, a product of its partnership with News UK, which proved to be quite successful across desktop, mobile, and tablet.
NEKTAN also said that Respin LLC, its joint venture with Spin Games LLC in the Untied States, continued gaining considerable momentum over the reported period.
What is more, in April and May, it announced its new financing package of about £8 million, in order to secure its positions in various markets and continue its growth. As previously reported, NEKTAN also managed to raise the additional amount of £2.75 million in order to fund its further expansion in the US commercial and tribal gambling market.
David Gosen, CEO of the company, said that it has progressed considerably over the past fiscal year and its growth has continued in the first quarter of the new year. The executive also noted that their pipeline is quite encouraging and puts an emphasis on the strength of the developer’s “proprietary, scalable platform, content and sector expertise.” Thus, the company is well-positioned in a market that has been constantly growing.
Mr. Gosen also said they are confident in NEKTAN’s outlook for the current financial year, as the developer’s Europe Q1 revenue surpasses the overall figures posted for the twelve months ended June 30, 2015. Furthermore, the company has grown and is expected to further expand its presence on the US market as the number of its land-based gambling partners has increased significantly.
