Highlights

  • Tinybuild reported H1 FY25 revenue of GBP 16.98 million, up 1.3% YoY.
  • Gross profit surged to GBP 10.36 million, a sharp rise from GBP 3.08 million in H1 FY24.
  • Net profit turned positive at GBP 3.28 million, compared with a loss of GBP 6.88 million in H1 FY24.
  • Operational efficiency improved, asset turnover ratio rose to 0.26x, up from 0.25x in H1 FY24.
  • Company maintains positive outlook for H2 FY25, aiming to exceed full-year adjusted EBITDA expectations despite a crowded gaming market.

Tinybuild Inc. (LSE:TBLD), listed on the FTSE AIM All Share Index, is a global publisher and developer of video games, offering a diverse portfolio spanning genres such as horror, action, simulation, and survival. The Company emphasises ownership of intellectual property (IP) to create multi-game and multimedia franchises in collaboration with development partners.

Financial performance

Tinybuild  reported steady growth in the first half of FY25 (H1 FY25), with revenue reaching GBP 16.98 million, up 1.3% from GBP 16.76 million in H1 FY24. The slight increase in revenue was supported by solid performance from the back catalogue, notably boosted by the successful console launch of Deadside.

Gross profit for H1 FY25 surged to GBP 10.36 million, a significant rise from GBP 3.08 million in H1 FY24. This increase was driven by a higher-margin revenue mix and a substantial reduction in development cost impairments. Consequently, net profit for the period turned positive at GBP 3.28 million, compared with a loss of GBP 6.88 million in H1 FY24. The improvement in net profit reflects favourable own-IP sales, reduced operating costs, and lower impairment charges.

Operational efficiency also improved during H1 FY25. The asset turnover ratio increased to 0.26x, compared with 0.25x in H1 FY24, demonstrating enhanced capital efficiency and more effective operational execution. In line with this, the cash cycle days declined to 103.40 days from 120.40 days in H1 FY24, indicating faster inventory turnover and improved cash management.

Company Outlook

Tinybuild maintains a positive outlook for H2 FY25, supported by the flexibility demonstrated in H1 despite a crowded market with 10% more Steam releases. The Board is carefully monitoring macroeconomic risks but remains confident in achieving full-year results above expectations at the adjusted EBITDA level.

Top Seven Shareholders

The top seven shareholders collectively own about ~71.22% of the company's total shares. Nichiporchik (Alexander) and Atari SA hold maximum stake in the company at ~57.92% and ~7.91%, respectively.

Stock Information

TBLD has increased by ~0.25% over the last  week while gaining approximately ~11.00% over the last three months. The stock has a 52-week high and 52-week low of GBX 12.00 and GBX 4.65, respectively, and is currently trading below the average of 52-week high-low level.

Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 13 February 2026. The reference data in this report has been partly sourced from EODHD/Others.

Technical Indicators Defined

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.