Home Financial CMON Revenue, Profit Boosted in First Quarter by Wholesale Orders and Kickstarter...

CMON Revenue, Profit Boosted in First Quarter by Wholesale Orders and Kickstarter Games

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CMON Limited released their 2019 first quarter earnings seeing about a 150% increase in revenue when compared to last year. First quarter revenue was $6.8 million compared to $2.7 million last year.

The company said the increase was due to US wholesale orders and the shipment of several Kickstarters including, Cthulhu: Death May Die, HATE, Starcadia Quest and Zombicide: Invader. Kickstarter games contributed $1.6 million in revenue for the first quarter.

Gross profit increased from $761,000 in the first quarter of 2018 to $2.7 million in 2019. CMON said this was due in part to Kickstarter sales, which the company said have higher margins than other sales channels.

Inventories kept expenses up, as the cost of sales increased from $1.9 million last year to $4.2 million in the same period this year.

“We will continue to launch games that attract and retain a significant number of players so that we can grow our revenue base and sustain our competitive position,” the company said of their long range goals,

CMON also said it is working to increase market share in Asia, and been running a wholly-owned subsidiary in China since October of 2018.