Atari (ATA) Q4 25/26 TU earnings summary

Executive summary

• Preliminary FY 2026 revenues expected to reach $64M, marking the third consecutive year of top-line growth and the highest revenue in over a decade, including Thunderful's contribution.

• Organic revenue growth of ~40% to $51M, driven by strong performance in Games, Digital Eclipse, Nightdive, and Infogrames.

• Positive current operating income and operating cash flow anticipated for FY 2026, excluding Thunderful.

• Expansion of gaming platform with 17 new releases across owned and licensed IPs, digital and physical formats, and multiple platforms.

• Recent acquisitions of Thunderful and Implicit Conversions, and a robust upcoming game lineup, support continued growth.

Financial highlights

• FY 2026 revenues expected at $51M (~40% organic growth year-over-year); $64M including Thunderful (~79% growth year-over-year).

• Revenue at highest level in more than a decade.

• Positive operating cash flow and current operating income projected for the fiscal year.

Outlook and guidance

• FY 2027 strategy focuses on retro gaming growth, deeper integration of Thunderful and Implicit Conversions, and continued portfolio expansion.

• Selective consideration of further acquisitions and minority investments in value-added companies and IP.