Oops, the wrong link was sent indeed. First, the press release about the service launch, and second, the Q1 results.
In my opinion, it all looks quite positive. With Direct, developers have clear incentives to drive traffic away from app stores, and Flexion can negotiate a higher take rate for itself. Players can be lured to developers’ own stores with bonuses that aren’t offered in Google’s or Apple’s app stores. Everyone wins.
Highlights:
- Exprexion Direct: This service enables developers to sell to their players no matter where those players are. By moving transactions outside of the major app stores, studios can make better margins and reclaim the 30% fee typically charged by platform owners. The service uses proven payment technology from trusted suppliers, like Xsolla, to ensure the buying experience remains smooth.
- Working smarter: Our new team structure reduces overhead significantly and speeds up delivery. We are combining marketing and outreach and where possible we use AI to make our workflows even more efficient. Year on year we have reduced headcount by 18%.
- New regulations continue to drive demand for independent stores and payments. We are excited about this and are strategically positioned to capitalize on a wave of new stores as a result of stronger market regulations. In Q1, we launched a few games on the new Epic Mobile Game Store. Our product and marketing partnership with Xsolla also puts us in a great position to meet this new demand through Exprexion Direct. Our updated SDK gives studios easy access to top-tier payment services, a unique integration that includes app stores distribution. Its value is already being validated by several big titles currently testing it out.
- Net profit: GBP 0.03m (- 0.71m), + 105% year-on-year from Q1 2025.
- Operating cash flow: GBP - 0.05m (1.49m)
- The movement in operating cash flow for the quarter is primarily driven by the timing of working capital requirements and one-off costs associated with the ongoing restructuring of the Creators segment.
- Cash position: As of 31 March 2026, cash reserve of GBP 13.9m (14.4m), no debt.
Edit: So, net cash is 16.1 million euros and market cap is 15.3 million euros. This means you don’t have to pay anything for the actual business.