Finding Growth with Kickstarter, in Asia
Posted by Milton Griepp on May 17, 2018 @ 9:13 pm CT
CMON sales were up 42% for the full year 2017, to $29.8 million from $21.0 million in 2016. And the Q1 2018 percentage increase was even stronger, 80%, with sales increasing to $2.7 million in 2018 from $1.5 million in Q1 2017.
Kickstarter accounted for all of the CMON sales increase in 2017, up 80% from 2016 to $20.6 million. Although CMON recognizes the revenue when the product is shipped, not when the game is funded, it’s worth comparing CMON’s Kickstarter sales to overall Kickstarter tabletop game revenues for 2017 (see "Tabletop Games Up 36% on Kickstarter"), which puts CMON at 20% of Kickstarter funding in the category.
Sales to wholesalers were actually down a hair in 2017 and accounted for only 28% of CMON’s sales.
In Q1 2018, sales to wholesalers accounted for all of CMON’s growth, but they were primarily wholesalers in Asia, according to the report.
Profits were strong in 2017, up 244%. The company made $3.5 million in 2017, vs. $1 million in 2016 (see "CMON Made $1 Million in 2016"). The big impact on profitability was the absence of over $3 million in professional fees the company booked in 2016 related to CMON becoming a publicly traded company.
Profitability also improved in Q1. Losses were $1 million in Q1 2018, compared to $1.1 million in Q1 2017.