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iCandy Interactive (ASX:ICI) reports first-ever positive EBITDA
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  • iCandy Interactive (ICI) has reported its first-ever positive earnings before interest, tax, depreciation and amortisation (EBITDA) of $800,000
  • The company also reported a 62 per cent increase in revenue to $3.6 million and lessened its losses by 72 per cent to $600,000
  • iCandy credits these increases to the successful launch of its mobile game, Masketeers: Idle Has Fallen, in early October
  • Revenue for Masketeers reached $1 million just 63 days after the game was launched — the fastest-ever million dollars made from an iCandy game
  • iCandy is now preparing the launch of Claw Stars, which is currently undergoing a trial period
  • This financial year the company is planning to expand the distribution of its mobile games with an initial focus on mainland China
  • iCandy is down 3.57 per cent on the market and shares are trading at 13.5 cents

iCandy Interactive (ICI) has reported its first-ever positive earnings before interest, tax, depreciation and amortisation of $800,000.

The company also reported a 62 per cent increase in revenue from $2.2 million in FY19 to $3.6 million in FY20.

Furthermore, iCandy lessened its losses by 72 per cent from $2.3 million in FY19 to $600,000 in FY20.

iCandy credits these increases to the successful launch of its mobile game, Masketeers: Idle Has Fallen, in early October.

Revenue for Masketeers reached $1 million just 63 days after the game was launched – the fastest-ever million dollars made from an iCandy game.

For comparison, Crab War, the company's previous most successful game, took between eight and nine months to reach $1 million in revenue.

iCandy is now in the process of preparing the launch of Claw Stars, which is currently undergoing a trial period.

This financial year, iCandy is planning to expand the distribution of its mobile games with an initial focus on the world's largest gaming market, mainland China.

With this in mind, iCandy has entered a three-year partnership with leading Chinese game publisher Ohayoo to publish, localise and market Masketeers.

"Over the last two years, iCandy has been focusing on building up its fundamental capabilities and focusing on doing what we do best – developing and publishing excellent games that are highly encouraging, interactive and fun to play," Chairman Kin W Lau said.

"The management is now focusing on launching its new game Claw Stars, as well as expanding iCandy's distribution channels to China and other international markets," he added.

iCandy is down 3.57 per cent on the market and shares are trading at 13.5 cents at 11:56 am AEDT.

ICI by the numbers
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