Atari posts €56 million revenue, returns to profit via acquisitions
Atari, the classic gaming brand from Paris, just posted its highest annual revenue in over a decade, €56 million ($65 million), and is back in the black after years of losses.
The secret? Bringing back old favorites and snapping up new studios and game rights.
Acquisitions push games revenue to €46.1 million
Atari's recent shopping spree made a real impact: it grabbed 97% of Swedish publisher Thunderful, bought Hipster Whale (the team behind Crossy Road) for $29.3 million, and scored IP rights for five Ubisoft games like Child of Eden and Grow Home.
These moves pushed Games revenue up 67.7% to €46.1 million and Hardware up 83% to €7.3 million.
Operating income €0.9 million excluding Thunderful
Operating income (excluding Thunderful) jumped to €0.9 million after last year's loss, with net income (excluding Thunderful) at €0.1 million compared to a €12.6 million loss before.
Cash flow also surged to €11 million.
CEO Wade Rosen says he's confident Atari can keep this momentum going, so expect more good news soon!