Despite Contagious Gaming’s 35% year-on-year decline in revenue, Global Maxfin Capital analyst Manish Grigo believed that the company is just getting started.

Contagious Gaming has posted a $209,398 revenue for first quarter ending June 30th, compared to $323,847 posted over the same period last year, attributable to lower revenues from third-party development contracts.

The company generated an Adjusted EBITDA loss of $546,722 from a $30,163 gain in Q1 2014. Adjusted earnings also fell from a loss of $5,278 last year to a larger loss of $1m in Q1 2015.

The company noted that the decrease in the Adjusted EBITDA is primarily due to general and administrative and regulatory compliance costs the Company did not incur until completion of the RTO on September 19, 2014