Glu Mobile had an overall bad, but still sort of good fiscal year 2013

February 7, 2014
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Glu Mobile is one of the bigger smartphone and tablet game companies in the industry, but it didn't have a particularly good 2013, according to the company's fiscal report.

At $105.6 million, revenue fell 2% compared with 2012, and losses fell only slightly from $20.5 million in 2012 to $20.1 million.

But things picked up in the fourth quarter, indicating the company's fortunes could be turning around. Sales rose 32 percent to $34.8 million, while net loss fell from $7.1 million during the same period in 2012 to just $3.7 million. Of that $34.8 million, $27.4 million came directly from Deer Hunter 2014, which overall has been downloaded 71 million times around the world.

"In Q4 2013 we delivered the strongest quarterly financial performance in our company's history with both non-GAAP revenue and adjusted EBITDA setting Glu all-time records," Glu CEO Niccolo de Masi said in the company's report. "We believe we have begun a new era at Glu. One with solid foundations for a more predictable and sustainably Adjusted EBITDA profitable, operational rhythm."

The company expects to make a profit again by the end of 2014.


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