Devolver Digital Inc - Delaware, US-based video game publisher - Posts smaller profit in 2021 due to costs related to the initial public offering and lower revenue from the game Fall Guys, which it sold in April that year. Pretax profit falls 33% to $51.9 million in 2021 from $77.2 million the year before. Revenue more than halves to $98.2 million from $212.7 million. The company does not expect to declare any dividend for 2021.

Normalised revenue grows by 38% to $98.2 million from $71.1 million in 2020, boosted by the popularity of its games Death’s Door, Loop Hero and Inscryption. Normalised revenue excludes revenue outside budget from the Fall Guys title and one-time exceptional costs from the November 2021 initial public offering. The sale of Fall Guys to Epic Games in April 2021 and a sale of an intellectual property owned by a subsidiary development studio during 2021 amounted to a combined sum of $116.1 million that year, Devolver Digital says.

For 2022, the firm expects to release 10 to 15 new titles. ‘We have good momentum, a clear and proven strategy and an outstanding team with a unique culture. Combined, these support our confidence in further progress in 2022,’ says Chief Executive Officer Douglas Morin.

Current stock price: 171.90 pence, up 4.2% on Monday

12-month change: down 7.1%

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