Improbable sees losses rise to $88.5 million on virtual worlds quest

ANASTASIA ZYG


Improbable Co-Founder and CEO Herman Narula

Courtesy of Improbable

LONDON — SoftBank-backed Improbable on Wednesday posted a pre-tax loss of £64.8 million ($88.5 million) for the seven months leading up to Dec. 31, 2019, according to a filing on U.K. company register Companies House. 

It’s a sharp rise on the £39 million pre-tax loss reported in the year leading up to May 31, 2019.

The London firm, one of SoftBank’s biggest bets in Britain, is aiming to develop large-scale computer simulations and “synthetic environments” that have applications in gaming and defense. Its core technology platform, or main product, is known as SpatialOS.

Audited by PwC, the filing shows that Improbable had a turnover of £10.8 million during the latest period. Of that, £8.3 million came from the U.K., £2.4 million came from the U.S. and £87,188 came from the rest of the world. 

Revenue was up significantly on the £1.2 million it posted in the year that ended May 31, 2019, but the company is yet to release a blockbuster game.

Cambridge origins 

Pivot to defense



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