Thunderful's full-year profits rise to $106.3m

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Thunderful Group has released its full-year financial results for 2022, showing a rise in profit despite a slight dip in revenues.

The publisher and distributor posted gross profit of SEK 1.1 billion ($106.3 million) for the twelve months ended December 31, 2022 – an increase of over 15% year-on-year. Revenues reached SEK 3.03 billion ($292.8 million, down 3.5%).

Games account for less than a quarter of the company's revenues, but in its full-year report the company said this segment was growing stronger, driven by some successful Q4 releases.

Here's what you need to know:

Q4 (three months ended December 31, 2022)

Full year

For the games segment, Thunderful drew attention to its Q4 releases, which accounted for just under half of this division's revenue. This also marked the third quarter running that revenue from new games had increased.

The biggest sellers were Lego Bricktales, The Last Hero of Nostalgaia and Jumpship-developed adventure Somerville. Thunderful announced it had acquired Jumpship on the day Somerville launched.

Today, the company announced it has also acquired Say No! More developer Studio Fizbin, with acting CEO Anders Maiqvist adding in the annual report that Thunderful hopes to grow its developer portfolio further.

"An improved cash flow in the Group affords Thunderful Games greater opportunities to make acquisitions," he said.

"In an uncertain world, it is even more important to assess every acquisition opportunity judiciously to create the best possible shareholder value. With the right structure and the right conditions, the management is not closing the door on further acquisitions."

However, video games