Animoca Brands
Hong Kong-based games and blockchain company behind The Sandbox and a large web3 gaming investment portfolio. Its investor relations page publishes annual reports and investor updates.
Documents
Animoca Brands FY2025 Performance and FY2026 Outlook
Animoca Brands Corporation Limited, a digital assets group, issued an unaudited investor update covering its fiscal year ending 31 December 2025 (FY2025) and its FY2026 outlook, dated September 2026.
- FY2025 Bookings totaled US$173 million, split into US$25 million for Digital Asset Advisory, US$95 million for Digital Asset Operating Businesses, and US$53 million for Investments and Asset Management.
- Operating expenses excluding non-cash and non-token-based payments were US$175 million, a US$65 million reduction from the prior year.
- The average valuation of token launches contracted by approximately 75% over the previous year, although 24 token launches were completed compared with 25 in FY2024.
Animoca Brands Annual Report 2022
Animoca Brands Corporation Limited, an Australian-incorporated company with its principal office in Hong Kong, publishes its consolidated annual report for the financial year ended 31 December 2022, authorised for issue on 21 January 2026.
- Consolidated revenue for FY2022 was A$680,685,467, while bookings were A$612,218,000 after a A$68,467,000 change in deferred revenue.
- The consolidated net loss narrowed to A$519,095,544 from A$670,952,399 in 2021.
- Net operating cash flow turned from an inflow of A$382,125,406 in 2021 to an outflow of A$66,736,275 in 2022.
Animoca Brands Annual General Meeting Presentation 2025
This is a December 18, 2025 annual general meeting presentation from Animoca Brands Corporation Limited, covering a proposed reverse merger with Nasdaq-listed Currenc Group (NASDAQGM:CURR), business update, core projects, financial updates, audit update, and FY2021 financial statements.
- Animoca Brands and Currenc Group entered a non-binding term sheet for a potential reverse merger on November 3, 2025, with 95% of the resulting entity going to Animoca Brands shareholders.
- For year-to-date performance, the company reports $172MM in revenues and $43MM in EBITDA, with Web3 Operation contributing $99MM of revenue.
- The company's Q3'25 asset balance is shown as $1,585MM on a non-IFRS basis, including $624MM in cash and stablecoin and $576MM in digital assets.
Animoca Brands Annual Report 2021
Animoca Brands Corporation Limited, an Australian-incorporated company with its principal office in Hong Kong, released its annual report for the financial year ended 31 December 2021, with the directors' report, chairman's letter, financial statements and auditor's opinion dated 11 June 2025.
- Consolidated bookings for FY2021 were $450,286 thousand, against a net loss of $670,952 thousand, a gap the report links to non-cash accounting charges.
- Operating cash flow turned positive at $382,125 thousand, compared with a negative $7,768 thousand in the prior year.
- The chairman states that the FY2021 net loss of A$671 million arose from non-cash accounting charges while cash flow was positive A$382 million.
Animoca Brands Annual Report 2023
Animoca Brands Corporation Limited, an Australian-incorporated company with its principal office in Hong Kong, published its consolidated annual financial report for the financial year ended 31 December 2023, authorised for issue on 17 July 2026.
- Consolidated revenue fell year on year, with the report attributing the decline mainly to a normalisation of platform metrics after the initial launch of token advisory services and token market making.
- The consolidated net loss decreased from A$519,095,544 to A$359,051,677 in 2023.
- Net operating cash inflow increased to A$147,824,845 from A$27,874,672, which the report says was largely attributable to a significant increase in net proceeds from trading digital assets.
Animoca Brands Annual Report 2020
The document is the FY2020 annual report of Animoca Brands Corporation Limited, an Australian-incorporated company with its principal office in Hong Kong, covering the financial year ended 31 December 2020.
- Consolidated net loss after tax increased to $60,431,619 in 2020 from $33,191,750 in 2019.
- Consolidated revenue from operating activities for 2020 was $28,315,385, compared with $16,150,893 in 2019.
- Deferred revenue rose from $6,946,881 at 31 December 2019 to $27,889,956 at 31 December 2020.
Animoca Brands Annual Report 2019
Animoca Brands Corporation Limited, an Australian-incorporated company with its principal office in Hong Kong, released its annual report for the financial year ended 31 December 2019, with the financial statements authorised for issue on 14 July 2022.
- The consolidated entity's 2019 revenue was 16,150,893, up from 12,769,667 in 2018, while it recorded a loss after tax of 33,191,750.
- The auditor drew attention to a material uncertainty related to going concern, though the audit opinion was not modified for this matter.
- Goodwill on acquisition of 9,426,223 was impaired in 2019, and intellectual property amortisation was 2,299,601.
Animoca Brands Annual Financial Report 2018
Animoca Brands Corporation Limited, an ASX-listed (code AB1) mobile games developer with operations in Hong Kong, Finland, the USA, Canada and Argentina, reports its 2018 annual financial results for the year ended 31 December 2018.
- Consolidated revenue from operating activities rose to $12,769,667 in 2018 from $6,488,559 in 2017, and the report describes it as a record.
- The Group reported a loss after income tax of $3,109,137 for 2018, including a one-off gain of $2,788,704 from the sale of mobile application games.
- The auditor drew attention to a material uncertainty about the Company's ability to continue as a going concern, citing a net loss and an operating cash outflow of $3,340,400.
Annual Financial Report 2017: Animoca Brands
Animoca Brands Corporation Limited, an ASX-listed (AB1) developer and publisher of mobile games and apps headquartered in Hong Kong, presents its Annual Financial Report for the year ended 31 December 2017, including chairman and CEO reports, directors' report, remuneration report, consolidated financial statements, notes, and…
- Consolidated revenue fell to $6,488,559 in 2017 from $8,697,633 in 2016, while the group recorded a loss before income tax of $8,047,840.
- The auditor drew attention to a material uncertainty related to going concern, citing a 2017 net loss and an operating cash outflow.
- Hong Kong headcount was reduced from over 110 people to fewer than 70 people during 2017.
Animoca Brands Annual Financial Report 2016
Animoca Brands Corporation Limited, an Australian ASX-listed (code AB1) developer and publisher of mobile games and apps, presents its annual financial report for the year ended 31 December 2016, including consolidated financial statements, directors' and remuneration reports, and an independent audit report from Grant Thornton.
- Consolidated operating revenue for 2016 was $8,697,633, a 15% rise on 2015, with in-app purchases at $4,266,448 and app advertising at $2,516,775.
- The group's loss before income tax widened to $7,925,266 in 2016 from $2,934,459 in 2015, with research and development expenses rising to $4,854,743.
- Operating cash outflow was $8,138,997 in 2016, and cash at year end fell to $1,526,919 from $4,935,747.
Annual Financial Report 2015: Animoca Brands
This is the audited Annual Financial Report for the year ended 31 December 2015 of Animoca Brands Corporation Limited, an Australian-listed (ASX: AB1) developer and publisher of mobile games for smartphones and tablets.
- Consolidated revenue for 2015 was $7,544,457, compared with $1,033,916 in the 2014 comparative period.
- The group recorded a loss before income tax of $2,934,459 for 2015, against $7,699,115 in the prior period.
- Reported revenue comprised in-app purchases of $3,842,562, service revenue of $1,995,787 and app advertising of $1,706,108.
Animoca Brands Annual Report 2014
Animoca Brands Corporation Limited's annual report for the year ended 31 December 2014 covers a mobile game developer that completed a reverse acquisition of Animoca Brands (BVI) on 24 December 2014 and relisted on the Australian Securities Exchange as AB1 in January 2015.
- Consolidated revenue for 2014 was US$933,485, made up of US$780,440 in app advertising revenue and US$153,045 in in-app purchase revenue.
- The group reported a consolidated loss of US$6,360,537 for 2014, primarily driven by US$5,446,669 of transaction costs from acquiring Animoca Brands.
- Average daily active users rose 17% to 503,407 in 2014, and cumulative app downloads reached 113.4 million at year end.
Reports about Animoca Brands
58 documents by other writers name Animoca Brands in the title or summary.
Global Gaming Report 2023: Investment & M&A Overview
The global gaming industry experienced a significant year for deal-making in 2023, characterized by record-breaking transaction values and a return to pre-pandemic activity levels.
- The global gaming industry recorded $86 billion in total closed transaction value in 2023, largely driven by Microsoft’s $69 billion acquisition of Activision Blizzard.
- Beyond mega-deals, the industry saw 960 announced transactions totaling $20 billion, with robust M&A activity in PC/console (44 deals) and mobile (37 deals).
- Private financing remained active with over $3.5 billion raised across 750+ rounds, with 85% of Q4 funding directed toward seed and early-stage companies.
Game Radar: Guild of Guardians, Phantom Galaxies, Illuvium
Naavik's Game Radar deep dive, published December 5, 2022, rates three upcoming blockchain games: Guild of Guardians (Immutable and Stepico), Phantom Galaxies (Blowfish Studios, a subsidiary of Animoca Brands), and Illuvium.
- Illuvium's land sale of 20,000 plots totalled about $72M, but the document states that this was not a fundraising event and that Illuvium itself saw no direct revenue from it.
- Naavik gives Illuvium's Arena mode a 4.0 fun score but rates its Overworld and Illuvium: Zero modes 1.5.
- Phantom Galaxies received a sustainability score of 2.0 because the document found no explicit mention of sustainability in its litepaper or Medium posts.
Hypercasual Meets Web3: Gameta, Joyride, and Benji Bananas
This Naavik deep dive, written by Karan Gaikwad and Max Lowenthal and published November 21, 2022, examines three hypercasual web3 games: Gameta, Joyride, and Benji Bananas.
- Hypercasual games make up 54% of all UAWs, with Gameta at 34%.
- The authors state that more than 85% of Gameta's downloads come from its top three games, all of which are runners.
- Benji Bananas' on-chain rewards are limited to holders of Membership Pass NFTs, and only 5K were made available in the first sale.
Upland: Property Tycoon On-Chain
This Naavik deep dive, published October 17, 2022, analyses Upland, a virtual property trading game in which players buy and sell plots of land on a map of the real world, with ownership secured on the EOS blockchain.
- Upland's cumulative mobile revenues are $11.1M, with the US accounting for 63% of that share, and the document links this to 22 in-game cities being US-based.
- The document identifies the cold start problem of buying a first property as the biggest critique of Upland, citing the lack of a global directory of properties.
- Metaventure trading volume is barely 4% of property trading volume, according to the document.
2022 Blockchain Gaming Report: New Frontiers And The Path Forward
This CoinMarketCap Research and Naavik report, published in collaboration with CoinMarketCap, reviews the state of blockchain gaming over Q3 2022.
- The report states that Q3 2022 was the first quarter in which blockchain gaming saw negative year-over-year growth metrics, with total deal value down 19% year over year.
- The report states that token prices of major first-era games, including Axie Infinity, Pegaxy, Crabada and STEPN, were down approximately 80% or more from their peaks.
- The report states that blockchain gaming's key adoption metrics remained small, with around 1M unique active wallets, around $500M in NFT transaction volume and around 2,000 blockchain games.
REVV Racing: The Last Lap?
This Naavik deep dive, written by Aaron Bush and Abhimanyu Kumar and dated September 29, 2022, examines REVV Racing, a web-based arcade-simulation racing game developed and published by Animoca Brands and built on Polygon.
- Over the past 30 days, DappRadar showed only 2.2k unique wallet addresses interacting with REVV Racing and $9.2k in transaction volume, which the authors note should be taken with a grain of salt.
- The REVV token is reported as down 97% from its highs, trading at a $4.7M market cap or a $51M diluted market cap.
- The authors state that the Fusion System does not help control car supply, because total car count across the marketplace remains the same after a fusion action.
Animoca Brands: Building the Open Metaverse
This Naavik deep dive, published September 26, 2022 and written by Lawrence Hsieh, profiles Animoca Brands, founded in 2014 as a mobile gaming studio, and its strategy of delivering digital property rights mainly via NFTs and gaming.
- Animoca Brands raised over $500M in 2022 so far, and the article describes its fundraising as building a war chest during the crypto winter.
- The company's most recent raise was a $110M round led by Temasek in September 2022.
- The Sandbox's Alpha Season 2 had about 350K MAUs, a tenfold increase over Alpha Season 1, and Alpha Season 3 participation was expected to be similar to Alpha Season 2 or even lower.
Drake Star Global Gaming Report Q3 2022
Drake Star Partners, a global media and tech M&A investment bank with offices in Los Angeles, San Francisco, New York, London, Paris, Munich, Berlin, Dubai and Singapore, published this Q3 2022 gaming report covering deal and financing activity in the video games sector.
- For the first nine months of 2022, disclosed deal value totalled $123B across 976 announced and/or closed transactions.
- Q3 2022 M&A volume rose to 81 announced deals, up from 70 in Q2 2022.
- Unity's announced $4.4B acquisition of ironSource was the largest deal in the quarter.
Gaming Deals Activity Report Q1‑Q3'22
InvestGame's Gaming Deals Activity Report for Q1–Q3'22 tracks closed transactions in the video games industry, with target companies whose core business relates to video games.
- Q1–Q3'22 closed M&A deal value reached a new high of $37.6B, compared with $28.7B in the same period of 2021.
- The number of closed M&A deals in Q3'22 declined 31%, from 80 deals in Q3'21 to 55 deals.
- Strategic investors reached a record YTD deal value of $101.4B, while their closed deal count fell to 81 from 134.
What's Next For Play-To-Earn Gaming Guilds? - The Metacast by Naavik
The play-to-earn gaming sector is undergoing a fundamental transformation as the initial model of asset-based scholarship programs collapses under the pressure of crypto market volatility and depreciating in-game token values.
- The play-to-earn scholarship model has collapsed due to crypto market volatility and the depreciation of in-game token values, forcing a shift away from mass-recruitment and yield-farming.
- Surviving guilds are pivoting from asset-based lending to professionalized service provision, including game quality assurance, economic stress testing, and targeted user acquisition.
- Organizations are repositioning themselves as web3-native consultancies that leverage aggregated data and global talent pools to advise developers on blockchain integration and game design.
Global Gaming Report H1 2022
This Drake Star Partners publication, titled "Global Gaming Report H1 2022", covers gaming-industry mergers and acquisitions, private placements, public markets, valuation multiples and league tables for the first half of 2022, with data sourced from CapIQ, Pitchbook and DSP Research.
- The report counts 651 announced and/or closed deals in the first half of 2022, with total deal value above $107B.
- Over $95B of announced and/or closed M&A activity is reported across mobile, PC/console and esports, with mobile the most active segment at 47 deals.
- A record $7B+ was invested through VCs and strategics in private gaming companies in the first half, including 11 rounds of $100M or more.
July 2022: Monthly Market Update
Blockchain gaming in July 2022 was in a consolidation phase: no industry-changing releases or NFT hype, but early signs of recovery as Bitcoin and Ethereum rebounded and fallout from the Luna crash faded.
- Total web3 gaming funding reached $291 million in July 2022, marking a 21% increase over June despite broader market volatility.
- Secondary NFT transaction volumes remained stagnant, continuing a downward trend that has returned to levels seen one year prior.
- Unique Active Wallets (UAW) for top blockchain games remained relatively flat in July, with casual titles like Solitaire Blitz showing significant growth while Arc8 saw a 35% decline in UAW.
Do you work at Animoca Brands? Get a free report of how these documents are read and cited here.