Proposes name change to Tangelo Games
Toronto-listed social and mobile gaming developer Imperus Technologies delivered strong growth in its first quarter 2016 financial report for the three month period ending March 31, 2016.
Imperus generated revenue of CAD 10.9 million (Q4/2015: CAD 8.4 million) and Adjusted EBITDA of CAD 3.0 million (Q4/2015: CAD 2.6 million).
Operating EBITDA for the three months ended March 31, 2016, excluding corporate overheads, was CAD 3.6 million (Q4/2015: CAD 3.4 million).
Imperus subsidiary Akamon achieved a significant milestone in February 2016, reaching 25,000 cumulative paying users through its partnership with UOL, a prominent Brazilian telecommunication and DSL provider.
Under this agreement, UOL DSL subscribers can opt-in for a package deal that includes a subscription to a localized white-label version of Akamon's games.
Imperus said it was pursuing additional white label distribution agreements following Akamon's successful growth of its white label business, which currently drives 25 percent of Akamon's revenue from more than 45 white label partners.
"In the first quarter, strong performances in February and March helped us recover from the typical seasonal low of January," James Lanthier, chief executive officer of Imperus, commented. "We see this momentum continuing in Q2 to date."
Lanthier highlighted the growth of the company's Spanish language mobile games saying they had generated double digit growth rates month-over-month.
In support of Imperus' strategy towards one unified organisation, a name change to Tangelo Games Corp has been proposed, integrating its Diwip and Akamon subsidiaries under one roof.
"We believe this name better conveys our goal, which is to create social game content that delights and engages users around the world," Lanthier said.
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