Everplay Group reported FY 2025 profit before tax of £36.6 million, a 44% increase driven by improved gross margins and reduced royalty expenses, despite flat headline revenue of £166.0 million.
02
Adjusted EBITDA grew 11% to £48.5 million, representing a 29.2% margin, while underlying revenue increased 5% when excluding the exit from low-margin physical distribution.
03
The company’s revenue mix is balanced between first-party (£56.13 million) and third-party IP (£109.86 million), with 75% of total income derived from the back catalogue.
04
Strategic growth was supported by a 25% revenue increase at StoryToys, fueled by licenses like LEGO and Bluey, and a 33% revenue decline at Astragon following the deliberate exit from physical distribution.
05
The Group maintains a strong liquidity position with £51.9 million in cash and £57.7 million in operating cash flow, supporting a 2026 pipeline of over 15 new games, including five first-party titles.
06
Major platform partners including Steam, Microsoft, Sony, Nintendo, and Apple each contributed over 10% of total sales in 2025.
07
Goodwill impairment testing for the Astragon Simulation CGU shows a recoverable amount exceeding carrying value by £78.5 million, up from £31.0 million in 2024.
Insights
01
Everplay Group reported FY 2025 profit before tax of £36.6 million, a 44% increase driven by improved gross margins and reduced royalty expenses, despite flat headline revenue of £166.0 million.
02
Adjusted EBITDA grew 11% to £48.5 million, representing a 29.2% margin, while underlying revenue increased 5% when excluding the exit from low-margin physical distribution.
03
The company’s revenue mix is balanced between first-party (£56.13 million) and third-party IP (£109.86 million), with 75% of total income derived from the back catalogue.
04
Strategic growth was supported by a 25% revenue increase at StoryToys, fueled by licenses like LEGO and Bluey, and a 33% revenue decline at Astragon following the deliberate exit from physical distribution.
05
The Group maintains a strong liquidity position with £51.9 million in cash and £57.7 million in operating cash flow, supporting a 2026 pipeline of over 15 new games, including five first-party titles.
06
Major platform partners including Steam, Microsoft, Sony, Nintendo, and Apple each contributed over 10% of total sales in 2025.
07
Goodwill impairment testing for the Astragon Simulation CGU shows a recoverable amount exceeding carrying value by £78.5 million, up from £31.0 million in 2024.