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2 FLEXION Q3 Report - 30 September 2021 Flexion sees its best - ever quarter in terms of game signings and continues to grow its quarterly revenue by 26 % and gross profit by 27 % year on year . July 2021 to September 2021 performance • Total revenue increased by 26 % to GBP 7.8m ( GBP 6.2m ) * • Gross profit increased by 27 % to GBP 10m ( GBP 0.8m ) Adjusted EBITDA * remained flat at GBP 0.07m ( GBP 0.11m ) Operating result remained flat at GBP -0.02m ( GBP 0.05m ) • Earnings per share amounted to GBP -0.07 pence ( GBP 0.08 pence ) • Cash amounted to GBP 15.1m ( GBP 3.7m ) April 2021 to September 2021 performance • Total revenue increased by 42 % to GBP 15.6m ( GBP 110m ) * • Gross profit increased by 30 % to GBP 2.0m ( GBP 15m ) • Adjusted EBITDA * decreased by 26 % to GBP 0.09m ( GBP 0.1m ) Operating result remained flat at GBP -0.07m ( GBP 0.01m ) Important events during the quarter • Launch of Legendary Game of Heroes and Guardians of Cloudia • Signing of Evony : The King's Return from Top Games Inc. Signing of The Ants : Underground Kingdom from StarUnion • Signing of Puzzles & Survival from 37Games • Signing of a top grossing game as part of a seven - game de al Important events after the quarter • Launch of Evony : The King's Return • Alignment of the financial year with the calendar year by closing the current financial year after 9 months in December 2021 * Comparable number for the same quarter of the previous financial year in brackets # The Company defines adjusted EBITDA as earnings before interest , tax , depreciation , amortisation , finance costs , impairment losses and other income . Adjusted EBITDA ( adjusting operating profit for several non - cash items ) is used by the Company for internal performance analysis to assess the execution of our strategies . Management believe that this adjusted measure is a more appropriate metric to understand the underlying performance of the Company