**Summary**
World Chess PLC, a London-listed chess organization, reported its financial results for the year ended December 31, 2025. Key highlights include
**Revenue Growth** Revenue from continuing operations increased by 11% to โฌ2,029,433, driven by digital and media activities. The World Chess Online Arena saw a 25% revenue increase to โฌ863,751.
**User Growth** The platform exceeded one million registered users, with India representing 33% of paid subscribers and 25% of total users.
**Product Development** Launched "The Tower," a player progression system, rebuilt the mobile app, and appointed a Head of Mobile Design.
**Partnerships** Extended partnership with Algorand Foundation and added TipRanks as a commercial partner.
**Strategic Shift** Closed the Berlin Chess Club, focusing on digital revenue streams and online subscriber growth.
**Financial Performance** Loss before tax from continuing operations narrowed to โฌ2,685,342, reflecting cost discipline and targeted investment.
**Capital Raising** Secured investment from strategic partners, strengthening the capital base.
**Governance** Maintained focus on governance, liquidity, and risk management.
**Future Outlook** The company aims to scale its user base, offer new ways to enjoy chess, and expand into club and federation technology tools.
Despite challenges, World Chess PLC is positioned for growth, leveraging its digital platform and strategic partnerships to enhance its global chess community.
### Key Observations:
1. **Revenue from Continuing Operations** increased by 11% year-on-year, driven by growth in digital and media activities.
2. **Total Revenue** decreased by 7% due to the closure of the Berlin club, which was part of discontinued operations.
3. **Loss Before Tax from Continuing Operations** improved by 5%, reflecting cost discipline and targeted investment.
4. **Gross Profit Margin** improved from 27% to 30%, driven by a higher proportion of digital revenues.
5. **Net Debt** significantly improved, moving from a net debt position of โฌ2.74 million in 2024 to a near net cash position in 2025, primarily due to equity funding.