tinyBuild Inc (LSE:TBLD) shares plunged 56% lower after the firm said its first-half performance had undershot expectations.
The video game group is blaming recent acquisitions for the alert, which will see hefty downgrades to 2023 and 2024 earnings forecasts. The cash position is expected to be significantly lighter than anticipated.
A review of underperforming titles may also lead to potential asset impairments and studio reorganisations.
The company said chief financial officer Tony Assenza has resigned for personal reasons, and Giasone Salati and Michael Schauble have been immediately appointed as CFO and CCO respectively.
At 8.38am, the shares were changing hands for 15p, down 19.5p.