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Published on: September 26, 2023

Resilience and operational reset

tinyBuild’s results for the six months ended 30 June demonstrated resilient performance during a challenging period, with a key takeaway being management’s focus on delivering successful games while maintaining financial stability. Revenue in H1 23 fell 19% to $23.3m (H1 22: $28.8m) and adjusted EBITDA turned negative at -$1.2m (H1 22: $9.9m). However, games sales remained stable, and the company is demonstrating tighter control of spending to steady the business in the short term. A strong games pipeline, combined with continuous monitoring of progress, provides potential for mid- to long-term growth, in our view.

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