Huuuge Inc
WSE:HUG
Huuuge Inc
Huuuge, Inc. engages in the provision of mobile free-to-play social casino services. The company is headquartered in Palo Alto, California and currently employs 638 full-time employees. The company went IPO on 2021-02-10. The firm is also engaged in holding activities. The Company’s products include Huuuge Casino, Billionaire Casino, and Traffic Puzzle. Huuuge Casino offers players over 100 casino slot machines, as well as card games and roulette. Billionaire Casino offers players casino slot machines, as well as card games and roulette. Traffic Puzzle offers different levels in which players assist vehicles such as the police, fire trucks and ambulances to reach their destinations. The Company’s has its operations in United States, Germany, United Kingdom, Canada, Japan, France, Netherlands, Australia, Poland, Switzerland, Taiwan, Italy, South Africa, Spain and Austria. The Company’s subsidiaries include Huuuge Games Sp. z o.o., Huuuge Global Ltd, Huuuge Publishing Ltd, Huuuge Block Ltd, Billionaire Games Limited and Huuuge Digital Ltd.
Huuuge, Inc. engages in the provision of mobile free-to-play social casino services. The company is headquartered in Palo Alto, California and currently employs 638 full-time employees. The company went IPO on 2021-02-10. The firm is also engaged in holding activities. The Company’s products include Huuuge Casino, Billionaire Casino, and Traffic Puzzle. Huuuge Casino offers players over 100 casino slot machines, as well as card games and roulette. Billionaire Casino offers players casino slot machines, as well as card games and roulette. Traffic Puzzle offers different levels in which players assist vehicles such as the police, fire trucks and ambulances to reach their destinations. The Company’s has its operations in United States, Germany, United Kingdom, Canada, Japan, France, Netherlands, Australia, Poland, Switzerland, Taiwan, Italy, South Africa, Spain and Austria. The Company’s subsidiaries include Huuuge Games Sp. z o.o., Huuuge Global Ltd, Huuuge Publishing Ltd, Huuuge Block Ltd, Billionaire Games Limited and Huuuge Digital Ltd.
Record Margins: Huuuge delivered its second consecutive quarter of record sales and EBITDA margins, with a sales margin of 51% and adjusted EBITDA margin of 32%.
Profitability Focus: Despite a 15.7% year-on-year revenue decline in Q3, the company improved cash flow and profitability through cost discipline and a focus on high-margin revenue channels.
Strong Cash Position: The company ended September 2022 with $193 million in cash, even after a $20.1 million share buyback and $29.4 million payment for Traffic Puzzle.
Industry Outperformance: Huuuge's monetization metrics and conversion to payer rates reached industry highs, with a 10.7% monthly payer rate.
Web Shop Success: The new direct-to-consumer web shop exceeded internal expectations by 20%, contributing positively to margins.
Strategic Review: The ongoing strategic options review limits forward-looking statements and strategy discussion.
Cost Cuts: Significant reductions in user acquisition and operating expenses helped offset market headwinds.