Contagious hails Digitote acquisition as finances jump in Q3

Contagious Gaming has cited its recent acquisition of Digitote as the main reason behind “significant” quarter-on-quarter revenue growth during the three months to December 31, 2105.

Revenue in the third quarter totalled $678,700 (€624,800), which represents quarter-on-quarter growth of 214%.

The company also revealed a decline in adjusted earnings before interest, tax, deprecation and amortisation from negative $456,400 to a loss of $272,600.

In addition, earnings slightly improved from a loss of $771,400 to a negative figure of $696,300.

Peter Glancy, chief executive and director of Contagious, said: “We are pleased to announce the company's Q3 financial results, which show significant improvement to our previous quarter's results.

“This improvement is primarily due to the closing of the Digitote acquisition in December 2015.

“We look forward to further expected improvement of our financial metrics as we report a full quarter of consolidated financials including Digitote's results.”

Related article: Contagious Gaming completes Digitote acquisition