Devolver Digital Annual Report and Accounts: 2021

Key insights

6 takeaways

01
Final audited net income for the twelve months ended 31 December 2021 is $30.6 million, $1.8 million lower than the preliminary unaudited figure.See it on page 1
02
The reduction is attributed to accounting adjustments in contingent consideration for 2021 subsidiary acquisitions, which the company describes as one-time and non-recurring.See it on page 1
03
The company states the adjustment does not impact its previously reported normalised adjusted EBITDA or cash balances.See it on page 1
04
Devolver has published more than 90 titles and has more than 30 titles in the pipeline scheduled for release over the next two years and beyond.See it on page 1
05
The company describes its portfolio as a balanced mix of third-party and own-IP titles, with an emphasis on premium games.See it on page 1
06
The company plans to hold its Annual Meeting on 24 June 2022, with its notice of meeting to be published shortly.See it on page 1

Summary

Devolver Digital, Inc., an award-winning publisher and developer of indie video games traded on AIM (DEVO), has published its Annual Report and Final Accounts for the twelve months ended 31 December 2021. The company is registered in Wilmington, Delaware, USA. It describes its portfolio as a balanced mix of third-party and own-IP titles, with in-house studios developing first-party IP and a complementary publishing brand. It has published more than 90 titles.

The final audited net income is $30.6 million, which is $1.8 million lower than the preliminary unaudited figure announced on 4 April 2022. The company states that the reduction is driven by accounting adjustments in contingent consideration relating to the acquisition of some subsidiary companies in 2021, and that these adjustments are one-time and non-recurring.

According to the company, the adjustment does not affect previously reported normalised adjusted EBITDA or cash balances, and all other aspects of the preliminary results are unchanged. The annual meeting is planned for 24 June 2022. More than 30 titles are scheduled for release over the next two years and beyond.