Limassol-based Top App Games reported $29 million in gross turnover in the first half of 2026 from its mobile game Ludus: Merge Arena on Thursday, as the Cyprus-based developer said the title had surpassed 12 million players worldwide.

The company said the game generated $14.80 million in the second quarter alone, making it the strongest quarter in Ludus’s history and representing a 5.2 per cent increase from the first quarter.

Top App Games said that, if the second-quarter rate were maintained for a full year, gross turnover would amount to approximately $59.2 million, while stressing that this was an annualised measure of the game’s current scale rather than a forecast for its full-year results.

“Ludus is now a stable, compounding business, and that stability is what lets us invest in bigger content, bigger collaborations and our next titles,” said Vladimir Markov, chief executive officer and studio head of Top App Games Ltd.

The latest figures follow sustained growth in both the game and its player community, with the cumulative worldwide player base increasing from more than 11 million in July to over 12 million subsequently.

Ludus has also expanded considerably since its soft launch, when it featured 25 heroes, to more than 100 heroes today.

In July 2026, the game recorded 765,684 monthly active users and an average of 127,491 daily active users, according to the company.

Players opened more than 403,000 sessions each day, equivalent to approximately 3.2 sessions per daily active user.

The company reported a payer conversion rate of 5.1 per cent, indicating the proportion of users who made payments within the game.

Vladimir Markov

Top App Games has expanded Ludus through successive updates beyond its original merge-and-battle gameplay.

Clan Wars introduced coordinated competition between clans, while Hero Perks gave players additional ways to customise individual heroes.

Divisions subsequently added a new structure for seasonal competitive play, while collaborations have introduced additional characters and events.

Among these has been a collaboration with Corvus Belli’s Warcrow, which brought new characters and events to the game.

The company also said that users acquired through advertising in July generated revenue equivalent to 31.6 per cent of the amount spent acquiring them during the month.

“What stands out in these numbers is the consistency,” said Vladimir Nikolsky, chief executive officer of Utmost Games and an investor in Top App Games.

“A game that holds three-quarters of a million monthly players and converts them at this rate has moved beyond being a hit, it is infrastructure the studio can build a portfolio on,” he added.

Top App Games said it planned to release further content updates, seasonal competitive events and platform expansions for Ludus during the second half of 2026.

The studio is also preparing to expand beyond its existing title, having already completed development of two as-yet unannounced games that it said would be unveiled soon.

Ludus is a real-time player-versus-player strategy game in which users collect, merge and upgrade heroes with unique abilities before building decks to compete against opponents worldwide.

The game combines tactical battles and role-playing game progression with seasonal tournaments, clan competitions and regular events.

Top App Games Ltd is a Cyprus-based mobile game developer and publisher whose activities focus on strategy games combining real-time player-versus-player gameplay with card-based role-playing elements and continuing content development.