**Summary**
TinyBuild, Inc. (AIMTBLD) reported strong FY 2025 results, exceeding expectations with a 17% year-on-year revenue growth to $35.5 million, driven by new releases and back catalogue performance. Adjusted EBITDA improved significantly to $5.6 million, up from a $6.1 million loss in FY 2024, due to favorable revenue mix and lower operating costs. Cash from operating activities rose to $12.7 million, and cash and cash equivalents stood at $4.6 million. The companys own-IP titles contributed 86% of gaming revenues, with back catalogue sales remaining stable at 88%. Notable releases included *The King is Watching*, *Deadside* on console, and *Kill it with Fire 2*. Post-period highlights included the successful console release of *I Am Future* and the first DLC for *The King is Watching*. The company granted stock options and RSAs to key personnel and received capital contributions for DevGAMM LLC. Despite a crowded market, tinyBuild remains confident in its pipeline and expects results to meet or exceed expectations, focusing on IP ownership and long-term franchise development.
| Financial Metric | 2024 ($'000) | 2025 ($'000) | Change ($'000) | Change (%) |
|---|---|---|---|---|
| Revenue from continuing operations | 30,438 | 35,511 | 5,073 | 16.7% |
| Adjusted EBITDA from continuing operations | (6,058) | 5,597 | 11,655 | 192.4% |
| Cash from operating activities | 6,290 | 12,667 | 6,377 | 101.4% |
| Cash and cash equivalents | 3,088 | 4,615 | 1,527 | td>50.1%|
| Total debt (Lease liabilities) | 382 | 71 | (311) | (81.4%) |