tinyBuild (TBLD) H2 2024 TU earnings summary

Executive summary

• FY 2024 revenue and Adjusted EBITDA broadly in line with expectations; cash at year-end was in the low single-digit millions, also in line with expectations.

• A strong 2025 pipeline is planned alongside continued careful cash management on a lower cost base.

Financial highlights

• FY 2024 revenue and Adjusted EBITDA broadly in line with expectations; no amounts were stated.

• Cash and cash equivalents were in the low single-digit millions at 31 December 2024; cash seasonally improved at the end of January 2025.

Outlook and guidance

• The Board expects results in line with expectations; 2025 pipeline includes larger-budget games above $1m and ongoing catalogue investment through updates, DLCs and platform launches.

• Cash is anticipated to trough in summer 2025 and improve after launches of certain high-potential new games; investment and cash resources will be managed carefully.

• Kingmakers, SAND and Streets of Rogue 2 are among high-potential titles set for release in 2025.