Tinybuild Inc. · LSE:TBLD
Tinybuild — FY2024 Earnings Presentation
29 slides from Tinybuild's earnings presentation, Apr 15, 2025
Slide 1: FY 2024 Results Presentation
FY 2024 RESULTS PRESENTATION
Slide 2: Disclaimer
DISCLAIMER IMPORTANT: You must read the following disclaimer before continuing. The following disclaimer applies to the following presentation and you are therefore advised to read this disclaimer carefully before reading, assessing or making any other use of the presentation. In accessing the prese
Slide 3: Presenting Today
PRESENTING TODAY Alex Nichiporchik - CEO, Founder 20+ years' industry experience. Pro-gamer, shipped over 20 titles as Producer, discovered pillar titles and built relationships with key influencers. Giasone (Jaz) Salati - CFO 20+ years’ finance experience. Top ranked equity research analyst, and Chie
Slide 4: Agenda - FY 2024
AGENDA - FY 2024 OPERATIONAL REVIEW FINANCIAL REVIEW STRATEGY APPENDIX 4
Slide 5: Operational Review
OPERATIONAL REVIEW Alex Nichiporchik, CEO
Slide 6: 2024 Was About Rebuilding
2024 WAS ABOUT REBUILDING ▪ Focus on cash generation while investing in high-potential games ▪ Tight cost management and data-driven capital allocation ▪ Strongest pipeline ever with three games in the top 100 Steam global wishlist 6
Slide 7: FY Highlights
FY 24 HIGHLIGHTS $34.7m $6.2m >90 games portfolio consolidated revenues Cash from operations 77% 87% $3.1m of sales from Own-IP cash at the end of Dec ‘24 of sales from catalogue 7
Slide 8: Own IP Across Multiple Platforms
OWN IP ACROSS MULTIPLE PLATFORMS OVER 90 GAMES CREATING FRANCHISE POTENTIAL FY24 FY17 77% OWN-IP AS % OF GAMING REVENUE* 8 * Gaming revenues exclude revenues from Development Services and Events
Slide 9: Balanced Mix Back Catalogue / Front List
BALANCED MIX BACK CATALOGUE / FRONT LIST 87% BACK CATALOGUE* AS % OF GAMING REVENUES** * Back catalogue is defined as any games released in the prior financial year and before 9 ** Gaming revenues exclude revenues from Development Services and Events
Slide 10: Financial Review
FINANCIAL REVIEW Giasone (Jaz) Salati, CFO
Slide 11: FY 24, A Reset Year
FY 24, A RESET YEAR Net Game Revenues 1 Adj. EBITDA 2 Software Development ▪ Net game revenue dropped $33.3m (-23% ▪ Adj. EBITDA loss was $3.7m in FY 24 ($7.1m ▪ Capitalised software development costs y-o-y) as a result of lower sales across the loss in FY 23) as lower revenues, more than decreased
Slide 12: Profit & Loss
PROFIT & LOSS (12m to 31/12/2024, audited, $'000) 2023 2024 Game and merchandise royalties Development Services 34,296 6,919 27,710 3,456 ▪ Revenues from game sales decreased 19% in a Licensing 2,285 2,152 difficult year despite slightly higher contribution Events 1,163 1,381 from new releases Total
Slide 13: Platform Deals Dropped Sharply in 2024
PLATFORM DEALS DROPPED SHARPLY IN 2024 52% DROP IN PLATFORM DEAL REVS TINYBUILD PLATFORM DEALS PEAKED IN 2022 ▪ Revenues from platform deals down again in 2024 from a low level ▪ tinyBuild saw a peak in 2022 followed by a sharp drop in 2023 ▪ Green shoots in 2025, primarily due to lower cannibalisat
Slide 14: Cash Flow
CASH FLOW (12m to 31/12/2024, unaudited, $'000) Profit/ Loss for the period FY 23 FY 24 (62,844) (20,594) Share-based payments 414 147 Amortisation of intangible assets 15,134 13,892 Impairment of goodwill & intangible assets 48,055 13,663 Depreciation of tangible fixed assets 785 522 Finance costs/ I
Slide 15: Investments Peaked in 2022
INVESTMENTS PEAKED IN 2022 Software development Total investment ▪ Software development investments increased slightly in ▪ Total investments (Software development + M&A) now H2 2024 focused on high-potential projects below 2021 level 15 * 2023E based on consensus for H2 23
Slide 16: Diversified Investments
DIVERSIFIED INVESTMENTS 40+ PROJECTS UNDER DEVELOPMENT BREAKDOWN OF 2024 DEVELOPMENT COSTS ▪ Over 10 projects with annual spend of $500k+, including catalogue and unreleased titles ▪ No game accounted for more than 15% of total ▪ Stricter assessment of games’ potential throughout the development pro
Slide 17: Balance Sheet
BALANCE SHEET (12m to 31/12/2024, audited, $'000) 2023 2024 Intangible Assets 51,512 41,750 Property, plant and Equipment 1,035 661 Other Assets 385 408 Total non-current assets 52,931 42,819 ▪ The decrease in Intangible assets primarily reflects the Trade and other receivables 13,665 7,951 impairmen
Slide 18: Cash Utilisation in FY 24
CASH UTILISATION IN FY 24 $3.1m CASH AT 31 DECEMBER 2024 ▪ $19m investments in development of new games ▪ M&A generated $2.6m proceeds ▪ Cash position at the end of December 2024 was $3.1m (cash in low single digits at end of March 2025) 18
Slide 19: Strategic Review
STRATEGIC REVIEW Alex Nichiporchik (CEO, Founder)
Slide 20: Five Year Plan
FIVE YEAR PLAN IP ORIGINATES FROM REFOCUS ON COST CONTROL, NEW IP LAUNCH, MORE ANIMATIONS & INTERACTIVE MEDIA 1,000 HOUR GAME STRATEGY PROGRESS ON LIVE ACTION MEDIA AND TV SERIES 2023 2024 2025 2026 2027 INVESTMENTS IN HIGH-POTENTIAL CROSS MEDIA FUELED BY TITLES, LIVE ACTION MEDIA PROFITABLE FRANCHI
Slide 21: Case Study: Kingmakers
CASE STUDY: KINGMAKERS ▪ Shooter/real time strategy hybrid ▪ 4-year investment in technology ▪ Millions of views of the announcement trailer -> top 15 wishlisted on Steam, 2025 launch 21
Slide 22: Case Study: Deadside
CASE STUDY: DEADSIDE ▪ Five years Early Access, v1.0 launch on PC ▪ Successful port to console plus free w/e on Steam ▪ Best platform release in company history -> a new top franchise for tinyBuild 22
Slide 23: Case Study: SpeedRunners 2
CASE STUDY: SPEEDRUNNERS 2 ▪ 13y old classic competitive platformer ▪ Highly-anticipated sequel ▪ Developed by talented team -> over 20m YouTube views in three days 23
Slide 24: Announced Pipeline
ANNOUNCED PIPELINE 1. ALL WILL FALL - a physics based city builder 2. Ferocious - a survival shooter in which you will discover a lost prehistoric world full of deadly creatures 3. Hello Neighbor 3 - a physics-powered heist / home-alone game by the creator of Hello Neighbor 4. Kingmakers - an action
Slide 25: Multimedia Progress
MULTIMEDIA PROGRESS ▪ S2 Animated series launched in 2024 ▪ S3 (last one) planned for 2025 ▪ Hello Neighbor movie script and production ongoing -> full multimedia development
Slide 26: Closing Remarks
CLOSING REMARKS Alex Nichiporchik (CEO, Founder)
Slide 27: Core Strategy
CORE STRATEGY …across Global …creating long …focused on IP multiple developer term scalable ownership… media publisher… franchises… formats 27
Slide 28: Outlook
OUTLOOK The Board remains confident the Company has adopted the right strategy and is on track to deliver results in line with expectations 28
Slide 29: Build
Build