Global free-to-play game developer and publisher, Huuuge Games has released its financial results for the first quarter of 2023. In the last quarter, adjusted EBITDA nearly doubled (USD 27.6m) compared to the previous year (USD 14.4m), achieving an all-time high in adjusted EBITDA profitability.

This accomplishment sets a new record for Huuuge. During the last four quarters (Q1 2022 – Q1 2023) the company has delivered significant progress, with combined adjusted EBITDA totalling USD 95.5m for the period.

The mobile gaming sector is continuing its realignment to the changing macro and market realities, and the Social Casino category revenue declined by 1.7% YoY in Q1 2023, according to Eilers & Krejcik. In that environment, the operational priority is to focus on continued cash generation and longevity of core franchises.

Read the full report here

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