Gaming Realms PLC (AIM:GMR, OTCQX:PSDMF) had a 'buy' recommendation reiterated by Peel Hunt after it posted an encouraging year-end statement.
The company's house broker also restated its target price of 60p, compared to the last closing price 35.3p.
Gaming Realms announced that revenue for 2024 was around £28.5 million, up 22% on the previous year and ahead of Peel Hunt's £27.5 million forecast.
Adjusted EBITDA landed at roughly £13 million, up 30% and compared to the broker's forecast of £13.5 million.
Net cash was up £7 million to £14.5 million, about 14% of the current market cap.
The company stated that trading in 2025 has been "encouraging" and Peel Hunt analysts said "we are optimistic about its prospects for FY25E".
"The flywheel picks up speed – more games in more markets with more customers continues to pay off for Gaming Realms.
"The cash pile continues to grow, providing more options."