Animoca 2023 Earnings: signed contract value down 30% YoY, off-balance sheet token reserves at ~$1.6 billion

On July 10, Animoca Brands today reported unaudited key financial and operational highlights for the year ending December 31, 2023, as well as results for the quarter ending March 31, 2024. Its bookings (signed contract value) decreased 30% to $280 million in 2023 from $402 million in 2022. Despite the year-on-year decline in bookings, results at the end of 2023 improved as the crypto market rebounded last year, and bookings in the fourth quarter of 2023 were up 59% from the previous quarter.

Animoca Brands reported an order book of $77 million in 2023 for digital asset advisory activities, which includes fees for token advisory, trading and blockchain node operations. Sales from its subsidiaries and incubation programs were $182 million, including token sales, NFT sales, in-app purchases and other non-blockchain sales. Animoca Brands operating expenses were $246 million for the 12 months ended December 31, 2023, up from $234 million in 2022.

In addition, Animoca Brands has a cash and stablecoin balance of $175 million. Digital assets held on its balance sheet amounted to $203 million. Approximately 70% of these assets are held in a combination of BTC, ETH, APE and MATIC. Animoca Brands and its subsidiaries have off-balance sheet token reserves of approximately $1.6 billion, including approximately $930 million in liquid tokens (listed on mainstream centralized digital asset trading platforms or with 24-hour trading volume of more than $25 million) and $665 million in less liquid tokens. liquid tokens.