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Income increased by 24% year on year but costs before capex were also up 23% and capex more than doubled as the Company continued to invest into the business, growing its development and content delivery whilst also investing into its G&A and infrastructure to prepare itself for the plans ahead. In 2019, Cloud Imperium continued on its steady growth path. Trading costs are broken down by territory and year into 5 broad categories. It also includes any exchange differences as referred above.
Star citizen 2019 software#
The other income line represents partnership income with various hardware and software vendors, sponsorship income, and various local incentives based upon the nature and location of our development and production activities. Again, any differences due to exchange rate movements have been accounted for in the final income line. The subscriptions line is the value of our subscriptions using standard exchange rates. Other than subscriptions (referred below) these differences are included in the final income line, to give an accurate representation of total revenue received. However due to exchange differences and small items that are not included in the counter, such as collected shipping costs on physical goods, the counter does not completely represent all revenue received. This line is taken directly from our daily published Funding Stats Counter, showing the net receipts from our backers and customers.
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To recap: the top three lines describe our revenue sources: Pledges / Counter Other income was 20% higher than 2018 at $9.5M, providing a pledges and income total of $60.7M, $11.8M (24%) up on the previous year. IncomeĢ019 was another record year for income with pledges up 26% to $47.6M and subscriptions up 12% to $3.6M. Towards the end of the year, the 2018 investors exercised their pre-agreed option to extend their investment, adding a further $17.25M to the Group’s reserves to pave the way for further expansion and funds to market and promote the ground-breaking projects we are undertaking. 2019 saw an increase in the “nuts and bolts” infrastructure of the business to accommodate the planned growth, and a step up in the Community and Marketing operations, particularly in the UK, with a very successful CitizenCon being held there this year.
Star citizen 2019 upgrade#
The additional security afforded by the minority investment received in 2018 allowed the group to plan and invest more for the future with a much needed upgrade of its UK offices and the acquisition of a minority stake in Turbulent Inc, Star Citizen’s Online and Publishing platform partner, to further strengthen and secure that relationship. The 2019 accounting shows Cloud Imperium continued on its growth path with another record-breaking year for new customers and community engagement. The aim of the Accounting continues to be simplicity and understandability for the average reader, showing “income,” net of sales taxes, as invoiced or accrued, and costs as incurred, adding capital expenditure as “spent.”īut using the numbers our auditors have reviewed and verified as part of their audit work relating to this financial year. This means without the requisite formats and disclosures required in our financial statements and without revenue recognition adjustments or intellectual property amortization entries. It is that time of year again to set out our Accounting for the 2019 Financial Year, adopting the same format as prior years and following the same simple cost accounting rules.