During a H1 downturn Atari’s blockchain division sees growth
The firm says that for the next six months it will focus on a turnaround strategy for all four of its business segments
The first six months of the fiscal year saw 50% of Atari's business segments decline year-on-year.
The company released its financial results for H1 which ended on September 30, 2022. Here's what you need to know:
The numbers:
- Revenue: €4M ($4.24 million), down 27% year-over-year
- Games: €3M ($3.18 million), up 10% year-over-year
- Hardware: €200,000 ($212,000), down 92% year-over-year
- Licensing: €600,000 ($636,000), down 18% year-over-year
The highlights:
Although half of Atari's business segments were on a downturn, its blockchain division was also ahealthy performer. It pulled in €1M ($1 million) during the six months, up 101% year-over-year.
"The first half of the period was primarily focused on laying the foundation of Atari X which included collaborations and partnerships with Web3 partners as well as the implementation of NFT sales that were successful, despite unfavorable market conditions, for blockchain-related activities," the company said.
Looking ahead, Atari said that it will prioritize a turnaround strategy for its business divisions.
The effort will include releasing more premium titles and co-producing new games as well. Additionally, the firm said that it will continue to develop new NFT initiatives.
Sign up for the GI Daily here to get the biggest news straight to your inbox