FinancialtinyBuild
Annual Report and Consolidated Financial Statements for the Year Ended 31 December 2024
1 Apr 202570 pages~154 min full read
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.
See it on page 40The 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.
See it on page 8The 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.
See it on page 64Risk management is centered on a policy where no single project exceeds 10% of the development budget, though the top five titles still account for 42% of total sales.
See it on page 11Marketing relies on a data-centric influencer network that has generated over 5 billion YouTube views, serving as a cost-effective alternative to traditional advertising.
See it on page 13CEO Alex Nichiporchik maintains a 57.9% stake in the company following a $10 million personal investment, signaling strong leadership alignment with long-term shareholder value.
See it on page 35Operational stability is being managed through staff relocations and a cautious M&A approach, with the company identifying 'Kingmakers' and 'Streets of Rogue 2' as key pipeline titles for 2025.
See it on page 6The 2024 fiscal year represented a strategic pivot for tinyBuild, characterized by a transition toward organic growth and a "1,000-hour game" philosophy. Despite a 22% revenue decline to $34.7 million and an operating loss of $20.4 million, the Group significantly narrowed its net loss from the previous year’s $62.9 million. This financial stabilization was supported by an $11.4 million capital raise and a reduction in impairment charges from $48.1 million to $13.7 million. The Group maintains a debt-free position with a net cash balance of $3.1 million, bolstered by the disposal of non-core assets and a streamlined operational footprint.
The core of the current strategy is a shift toward "Own-IP," which now accounts for 77% of revenue, and a robust back catalogue that drives 87% of total sales. By focusing on high-potential franchises like Hello Neighbor and Deadside, the Group aims to mitigate risk through portfolio diversification, ensuring no single project exceeds 10% of the development budget. This data-centric approach is complemented by a multimedia expansion strategy and a vast influencer network that has generated over 5 billion YouTube views, providing a cost-effective alternative to traditional marketing.
Operational risks remain centered on high revenue concentration, with the top five titles accounting for 42% of sales, and ongoing geopolitical instability in Ukraine and Russia. The Group has addressed these challenges through staff relocations, "anti-crunch" labor policies, and a more cautious M&A stance that prioritizes "acquihires." Looking toward 2025, the Group is positioned as a going concern with a high-potential pipeline including Kingmakers and Streets of Rogue 2. Governance remains tightly held, with CEO Alex Nichiporchik maintaining a 57.9% stake following a $10 million personal investment, ensuring strong alignment between leadership and long-term shareholder value.
