REG - tinyBuild, Inc. - Pre-Close Trading Update

tinyBuildAnnouncement

06/02/2025 07:00

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RNS Number : 0849W  tinyBuild, Inc.  06 February 2025

6 February 2025

tinyBuild, Inc

("tinyBuild" or the "Company")

Pre-Close Trading Update

 

tinyBuild (AIM:TBLD), a premium video games publisher and developer with
global operations, is pleased to provide a trading update for the twelve
months ended 31 December 2024 ("FY 2024").

Highlights

·  Revenue and Adjusted EBITDA broadly in line with expectations for FY
2024

· Cash and cash equivalents of low single digit millions at the end of
December 2024, in line with expectations, with cash seasonally improving at
the end of January 2025

· The pipeline for 2025 is strong and the Company continues to manage cash
carefully on a lower cost base ahead of new high-potential releases

 

Current Trading

The industry backdrop remains difficult with few signs of near-term
improvement. tinyBuild is carefully managing its catalogue while investing in
high-potential new IP (e.g. Kingmakers, SAND, Streets of Rogue 2) set for
release in 2025.

As at 31 December 2024, the Company had cash levels of low single digit
millions. Cash and cash equivalents are anticipated to reach a trough point in
the summer of 2025 and improve post the launch of certain high-potential new
games. The cash position will be carefully managed as the Company invests in
upcoming game releases in a disciplined manner. The Company has no borrowings
and it continues to assess its IP portfolio for strategic opportunities.

Pipeline

Upcoming launches are showing strong performance in terms of wishlists, one of
the most important indicators for future sales. In particular, Kingmakers,
SAND and FEROCIOUS are now in the top 20, 50 and 140 Most Wishlisted Games on
Steam.

The exact release dates will be set taking into account competitive launches
and, as is standard, risk remains around new launches and the ability to
convert wishlists into revenue. As a mitigating factor, the Company remains
fully focused on cost control and regularly reviews investment in new games to
align with audience validation.

Employee Benefit Trust

As at today's date, the Employee Benefit Trust holds a total of 3,937,587
ordinary shares with no new purchases in H2 2024. The EBT was set up in 2022
for the benefit of current and future employees and will continue to act
independently of the Company to satisfy future share awards and option
exercises of vested options granted.

Outlook

The pipeline for 2025 is strong and includes a number of larger-budget (above
$1m), high-potential games alongside continuous investment in the catalogue
such as updates, DLCs and platform launches.

The implication of the conflict in Ukraine along with the evolving
macroeconomic situation impose caution and vigilance in the medium and long
term. In particular, tinyBuild continues to carefully assess the position of
its staff, its exposure in terms of revenues and carefully manage cash
resources ahead of the release of high-potential new IP in 2025.

All considered, the Board remains confident the Company is on track to deliver
results in line with expectations.

Alex Nichiporchik, Chief Executive Officer of tinyBuild, commented:

"Over the past two years we rightsized the business to cope with increasingly
difficult market conditions and refocused on the 1000-hour game model, while
managing cash carefully. We are looking at a strong pipeline of upcoming
high-potential games scheduled for launch in 2025 and we remain excited about
the future."

Enquiries:

 tinyBuild, Inc                                               investorrelations@tinybuild.com (mailto:investorrelations@tinybuild.com)

 Alex Nichiporchik - Chief Executive Officer and co-founder

 Giasone (Jaz) Salati - Chief Financial Officer

 Berenberg (Nominated Adviser and Broker)                     +44 (0)20 3207 7800

 Mark Whitmore, Ciaran Walsh, Milo Bonser

 SEC Newgate (Financial PR)                                   tinybuild@secnewgate.co.uk

 Robin Tozer, Harry Handyside, Molly Gretton                  +44 (0)7540 106366

About tinyBuild:

Founded in 2013, tinyBuild (AIM: TBLD) is a global video games publisher and
developer, with a catalogue of more than 70 premium titles across different
genres. tinyBuild's strategy is to focus on its own intellectual property (IP)
to build multi-game and multimedia franchises, in partnership with developers.

tinyBuild is headquartered in the USA with operations stretching across the
Americas and Europe. The Group's broad geographical footprint enables the
Company to source high-potential IP, access cost-effective development
resources, and build a loyal customer base through its innovative grassroots
marketing.

tinyBuild was admitted to AIM, a market by the London Stock Exchange, in March
2021.

For further information, visit: www.tinybuildinvestors.com
(http://www.tinybuildinvestors.com) .

 

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