Alex
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Documents about Alex
Annual Report and Consolidated Financial Statements for the Year Ended 31 December 2024
The 2024 fiscal year represented a strategic pivot for tinyBuild, characterized by a transition toward organic growth and a "1,000-hour game" philosophy.
- tinyBuild narrowed its net loss significantly in 2024 compared to the previous year's $62.9 million, despite a 22% revenue decline to $34.7 million and an operating loss of $20.4 million.
- The company has shifted its strategy to focus on 'Own-IP,' which now generates 77% of total revenue, supported by a back catalogue that accounts for 87% of sales.
- The Group maintains a debt-free balance sheet with $3.1 million in net cash, bolstered by an $11.4 million capital raise and a reduction in impairment charges from $48.1 million to $13.7 million.
Annual Report and Consolidated Financial Statements for the Year Ended 31 December 2023
The 2023 fiscal year represented a strategic "reset" for tinyBuild, characterized by a transition from aggressive acquisition-led growth to a leaner, internal-production model.
- TinyBuild reported a 29% revenue decline to $44.7 million in 2023, resulting in a $62.8 million comprehensive loss driven by $48.1 million in asset impairments and studio closures.
- To address a year-end cash low of $2.5 million, the company secured $12.3 million in early 2024 funding, which included an investment from Atari and increased CEO Alex Nichiporchik’s ownership to 57.9%.
- The company is shifting from an acquisition-led strategy to a leaner internal-production model, focusing on 'games as a service' and high-potential emergent gameplay titles.
Shareholder Circular
TinyBuild, Inc. is undertaking a critical fundraising initiative to raise approximately $14.16 million (£10.3 million) to address a severe liquidity crisis.
- TinyBuild faces a critical liquidity crisis and potential Chapter 11 insolvency if it fails to secure $14.16 million (£10.3 million) in new capital by January 2024.
- The fundraising strategy includes a share issuance priced at 5 pence, a $2 million private placement from Atari, and an open offer for existing stockholders.
- CEO Alex Nichiporchik is underwriting up to $10 million of the raise, a move that could increase his ownership stake from 37.8% to 59.1% and requires a regulatory 'whitewash' waiver.
tinyBuild Annual Report and Consolidated Financial Statements for Year Ended 31 December 2022
During the 2022 fiscal year, tinyBuild achieved record financial performance, reporting a 21% increase in consolidated revenues to $63.3 million and a 39.7% rise in annual profit to $11.5 million.
- tinyBuild achieved record 2022 financial results with $63.3 million in revenue (up 21%) and $11.5 million in profit (up 39.7%).
- The company successfully shifted to an owned-IP portfolio model, which now accounts for 77% of total sales and reduced revenue concentration from its top three titles to 30%.
- Adjusted EBITDA reached $24.4 million despite $11.2 million in impairment charges for underperforming back-catalogue assets and $1.7 million in relocation costs.
AIM Admission Document March 2021
This document outlines the March 2021 admission of tinyBuild, Inc., a Delaware-incorporated video game publisher and developer, to the London Stock Exchange’s AIM market.
- tinyBuild debuted on the London Stock Exchange’s AIM market in March 2021 with a market capitalization of £340.6 million, raising £28.6 million in net proceeds to fund acquisitions and a 23-title development pipeline.
- The company demonstrated significant financial growth between 2017 and 2019, with annual revenues increasing from $11.9 million to $28.0 million.
- Revenue is highly concentrated, with the top five titles accounting for 70% of H1 2020 revenue and the back catalogue contributing nearly 80% of total 2019 revenue.