Canada F2P gaming outfit Leaf Mobile (TSX: LEAF) announced its financial results for Q1 FY21.
Revenue was up 95 per cent year-on-year or 10 percent quarter-on-quarter to $25 million.
Adjusted EBITDA was $3 million compared to a loss of $1.4 million in Q4 2020.
Leaf Mobile acquired East Side Gaming in February 2021 for $159 million, and so this quarter’s financial performance is the first to reflect the acquisition, albeit partially.
Off we go
“We are off to an excellent start in 2021 with record Q1 results for LEAF, doubling quarterly revenue over the previous year,” commented CEO Darcy Taylor.
During the quarter, Leaf closed a public offering, raising $23 million.
It’s also in the process of acquiring Vancouver-based Truly Social Games, and has announced publishing partnerships with Night Garden Studios, Bigfoot Gaming, Mighty Kingdom Games, TinyRex Games, and Game Masons.