Rovio Q1 2022 Financial Report

Rovio’s financial performance for the first quarter of 2022 demonstrates significant top-line growth despite a broader contraction in the mobile free-to-play market. The company achieved record gaming revenue of €85 million, representing a 26.6% increase year-over-year, while games gross bookings rose 25.8% to €80.8 million. This growth was supported by a substantial expansion in user engagement, with monthly active users reaching 53.3 million—a 120% increase—and daily active users climbing 73.8% to 7.3 million.

Key portfolio contributors included the flagship title Angry Birds 2, which generated €30.3 million in gross bookings, and Angry Birds Friends, which saw a 15.2% year-over-year increase. Additionally, the newly launched Angry Birds Journey contributed €10.1 million, and the acquisition of Ruby Gems added €6.1 million to the quarterly bookings. Despite these revenue gains, the company’s operating profit fell by 21.5% to €7.5 million, partly due to a €31.1 million investment in user acquisition, which consumed 37.8% of total games revenue.

Looking forward, leadership anticipates continued market volatility driven by the normalization of post-pandemic consumer spending and the ongoing impact of Apple’s App Tracking Transparency policies on marketing efficiency. The company remains committed to its current strategic framework, focusing on portfolio growth and operational adaptation to navigate these industry-wide challenges.