Azerion, which is frequently on the agenda with Habbo, blockchain game investments, and partnerships with game companies, has published its 2022 first-quarter financial report. According to the report, the company saw a nearly 100% increase in net revenues compared to the same period last year.
Azerion’s net income for the first quarter of 2022 was announced as 94 million Euros. The unaudited first-quarter report reported that adjusted EBITDA increased by 118% compared to the first quarter of 2021, reaching approximately 6 million Euros. The company went public in the middle of last year and has seen rapid growth since then.
In Azerion’s report, this growth was associated with several activities. Chief among these activities is completing the integration of NFT avatars to Habbo. Following the successful development, release, and distribution of Hungry Shark Arena, the scope of the partnership between Ubisoft and Azerion has also been enhanced.
In addition, the company acquired digital marketing company Infinia this fiscal year to expand its media operations in Spain and Latin America. Azerion also received the Digital Media Owners Spring Award based on a survey conducted in the UK in May.
Umut Akpinar, Co-CEO of Azerion, said the following regarding the financial quarter:
“This quarter demonstrated our capacity to deliver results while completing our listing on Euronext Amsterdam. Our financial performance continued to improve and, despite macroeconomic volatility, we remain confident in our guidance to deliver at least EUR 450 million revenue this year. We will continue integrating our acquisitions and further drive volumes across our owned and operated platform.”
Atilla Aytekin, Azerion’s other Co-CEO, added:
“Listing Azerion was an important milestone for our company, welcomed by our clients and partners, who increasingly approach us with business propositions. Our market continues to consolidate and we remain actively working on our acquisition funnel to complement our organic growth with more volume, capabilities, and technology. As we continue to mature our M&A pipeline, we will consider a variety of options to fund acquisitions, including raising equity.”
More financial data for the first quarter of 2022 can be found in the original report published by Azerion.