The B2B mobile gaming platform and content provider Nektan has issued an update on trading ahead of its results for the full year, which ended on June 30.
The company is expecting full-year net gaming revenue to be £0.5m with the adjusted EBITDA loss to be better than expected at around £5.5m, which Nektan said was the result of tighter management of the fixed costs.
Nektan has made progress in the year in its quest to target both the US and European markets despite a hold-up in acquiring additional funding earlier this year. This delayed the rate of investment and revenue growth in the second half.
The company is confident of achieving significant revenue and EBITDA growth from more focused investment in the real-money gaming sectors, which have high growth and higher margins.
The “freemium” gaming business will continue to be secondary in focus until the company demonstrates its revenue and profit potential, reported the board.
Full preliminary results will be released in September.
