Kuuhubb Reports Third Quarter Financial Results

Kuuhubb (TSXV:KUU), a mobile gaming company announced revenues of C$2.29 million while adjusted earnings before interest, tax, depreciation and amortization totaled negative C$741,000. The company projects accelerated growth in 2020 as it commercializes its second generation Match-3 games and Recolor by Numbers into next year.

As quoted in the press release:

Jouni Keränen, CEO of Kuuhubb Inc., commented, “With a challenging year now behind us, we are well positioned to move forward and focus on the execution of our key priorities and our new product roll-out strategy. With the commercial release of Recolor by Numbers, we believe that revenues will start to stabilize and return to sequential growth in calendar 2020 especially together with the release of our second-generation Match-3 games. The approximately US$1 million received subsequent to the end of fiscal Q1 provides initial resources for our marketing efforts as we exit calendar 2019.”

Kuuhubb is building a leading lifestyle game portfolio and is solidifying its position as an industry innovator, targeting the female demographic. As a mobile game development and publishing company focused on providing the female audience with creative interactive gaming experiences, the Company’s strategy is to use its experienced development teams located in Helsinki, Finland and Zagreb, Croatia to leverage its existing communities built through the Recolor franchise as well as its in-house developed game engines to enter popular gaming genres and commercialize new titles in the coming 12 to 24 months.

Click here to read the full press release.