Flexion Mobile: The Growth Journey Continues
Today, Flexion communicated a so-called “Trading Update”. Estimated revenue during the quarter is GBP 6.9 million, in-line with our forecasted revenue of GBP 7.3 million. We had estimated a weakened gross margin in the quarter due to the assumed absence of two portfolio games from Yoozoo in October 2020 and “favorable historical adjustments” in Q2. However, gross margin stayed flat from the previous quarter around 13% resulting in a gross profit of GBP 0.9 million (estimated GBP 0.82 million)..