Atari Hits Decade-High Revenue Thanks to Gaming Comeback
Video game developer Atari announced on Monday that it achieved annual revenue of €56 million, equivalent to $65 million, marking its highest earnings in over ten years. This resurgence can be attributed to a strategic focus on revitalising classic franchises and acquiring studios, which has successfully returned the Paris-based company to profitability. Atari, the arcade and console pioneer that filed for bankruptcy protection just over a decade ago, is capitalising on a broader industry shift towards leveraging back catalogues and nostalgia-driven franchises rather than investing in expensive new blockbusters. This trend has been embraced through a series of studio and intellectual property acquisitions over the past year.
Over the past year, Atari increased its ownership in Swedish video game publisher Thunderful to 97%, acquired Crossy Road developer Hipster Whale for $29.3 million, and obtained the intellectual property rights to five Ubisoft titles, including Child of Eden and Grow Home. CEO Wade Rosen stated that Atari was “reaching operational profitability for the first time in several years” and expressed confidence that it would continue to generate sustainable growth.
Atari’s Games revenue experienced a significant increase of 67.7%, reaching €46.1 million, while Hardware revenue surged by 83%, amounting to €7.3 million. Current operating income has reached €0.9 million, in contrast to a €0.8 million loss recorded in the previous year, excluding Thunderful. Net income, excluding Thunderful, stood at €0.1 million, a notable improvement from the €12.6 million loss recorded in the previous year; cash flow from operations amounted to €11.0 million.
