King Digital Entertainment, maker of the popular game Candy Crush Saga, has filed paperwork with the Securities and Exchange Commission to go public.
The company's Form F-1 Registration shows the company posted a profit of $567.6 million on revenues of $1.89 billion last year. Some 78% of revenues came from one game, Candy Crush Saga, which now has 93 million daily active users and more than 1 billion daily active game plays. King doesn't charge to download Candy Crush Saga, but instead makes money off of users who buy "virtual power ups" to improve their game.
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None of King's other games come close to matching those stats. In its section on "risk factors," the company notes that most of its revenue is generated by a "small number of games." There's also evidence that Candy Crush's popularity may be waning: Revenues for the company were $602 million in the fourth quarter, a drop from $621 million in 3Q.
In relying on a handful of games, King is in league with Rovio, the Finnish company behind the wildly successful Angry Birds franchise. Rovio, which is believed to have posted revenues in the $2.4 billion range in 2012, has denied that it plans to go public.