International Games System (3293) Q4 2025 earnings summary

Executive summary

• Achieved strong revenue and net income growth over the past three years, with 2025 revenue reaching NT$22.0 billion and net income at NT$10.9 billion.

• Consolidated financial statements for 2025 and 2024 were audited with an unmodified opinion, confirming fair presentation in accordance with IFRS and local regulations.

• Maintains a leading position in arcade and online gaming, with significant R&D investment and global market expansion.

• The group operates primarily in arcade and online games, with significant revenue growth and profitability in 2025.

Financial highlights

• Total revenue increased from NT$14.2 billion in 2023 to NT$22.0 billion in 2025, a 55% rise over two years.

• Net income grew from NT$6.4 billion in 2023 to NT$10.9 billion in 2025.

• Basic EPS after tax rose from NT$22.80 in 2023 to NT$38.51 in 2025.

• Gross margin remained high, above 95% for all reported years, reaching 98% in 2025.

• Cash and cash equivalents at year-end 2025 were NT$1,114,804 thousand, down from NT$2,842,817 thousand.

Outlook and guidance

• Online games licensing revenue expected to grow steadily, driven by expansion in Southeast Asia, Europe, and North America.

• Online games APP revenue projected to remain stable, with ongoing product launches and overseas market cultivation.

• Arcade games revenue anticipated to grow modestly, focusing on China and the U.S. markets and new product development.

• New IFRS standards, including IFRS 18, will impact future financial statement presentation and disclosures starting 2027 or later.

• Management is assessing the impact of these standards and will disclose effects when available.