EVR earns first revenues but profits remain elusive

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EVR earns first revenues but profits remain elusive
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Virtual reality and music software developer EVR (LON:EVRH) earned its first revenues in the six months ended 30th June, but still made a £4.4 million loss for the period. Management said that they would be spending the next 12 months trying to raise awareness of their MelodyVR platform. Early adoption of the Oculus Go VR system has been positive, but the company is keen to expand with the other VR hardware systems on the market.

Chairman Anthony Matchett said that consumer conversion metrics were very encouraging and that the company would be looking to expand its range of original content in the coming months.

Shares in EVR dropped by 8.09% to 7.10p (as 0f 10:00 BST).

 

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