Funcom has released its fourth quarter 2015 financials, and the news is both good and bad. The studio’s latest quarterly revenues were up $342,000 US over its third quarter numbers, which we might have guessed were due to The Park’s performance through the holiday season, though Funcom notes its “[m]ain sources of revenues are The Secret World, Age of Conan and Anarchy Online.” The company’s finances are down year over year, however, “due to ageing of the Live Games.” Operating expenses are down quarter over quarter as well. Fortunately, the company’s been granted quite a long reprieve by its bond-holders:
“The main creditors have confirmed that they are willing to restructure the the USD 3,950k working capital loan into the existing USD 4,000k convertible loan, and to postpone the maturity date of the USD 6,200k convertible bonds and of the convertible loan to respectively December 2018 and June 2019.”
Finally, Funcom says it’s planning an “equity issue […] with the goal of funding the execution of the new strategy and the securing of additional revenue streams,” meaning that it’s planning to sell additional stock to raise that money.
Last autumn, the company petitioned its investors to defer its loan repayment. The studio subsequently published The Park and revealed plans to post three new games in 2016, one of which has been revealed to be a Conan-themed multiplayer survival sandbox.
