Key insights
7 takeaways · ~3 min read- 01tinyBuild experienced a significant decline in revenue and continued operating losses in 2024, with revenue dropping by 22% year-over-year to $34.7 million (from $44.7 million in 2023) and an operating loss of $20.4 million (compared to $63.8 million in 2023).See it on page 18
- 02The revenue decline was primarily due to limited flow-through from new games released in 2023 and a 50% drop in development revenues, largely from platform deals.See it on page 18
- 03Adjusted EBITDA remained negative at -$3.681 million in 2024, an improvement from -$7.113 million in 2023, impacted by revenue decline and a $13.7 million impairment of software development costs.See it on page 57
- 04tinyBuild raised over $11 million in new capital in January 2024 and welcomed Atari as a new core investor, helping to fund promising projects.See it on page 7
- 05The company maintains an organic growth strategy focusing on diversification, internal development teams (e.g., DUCKSIDE), established partnerships (e.g., Potion Craft), and leveraging influencer relationships for marketing, achieving over 5 billion content-related views on YouTube by December 31, 2024.See it on page 9
- 06tinyBuild mitigates the risk of early-stage game development by providing milestone-based funding, acquiring IP, adjusting budgets with data-driven approaches, and intensifying audience validation through playtests and demos.See it on page 22
- 07The company's investment in DevGAMM, an Eastern European-focused video games event organizer, led to successful events in Gdansk, Vilnius, and Lisbon in 2024, increasing events revenue to $1.4 million.See it on page 13
Summary
ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED Chairman’s statement 4 History and background 5 Strategy 7 Business model 9 Chief Executive’s review 14 Chief Financial Officer’s review 16 Environmental, social and governance (ESG) 18 Principal risks and uncertainties ...
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