Gaming Realms PLC (AIM:GMR, OTCQX:PSDMF) shares rose 5% in morning trading after the company reported a strong start to 2025 and confirmed it is trading in line with expectations.
The mobile gaming content developer said revenue from its core licensing business is up 22% so far this year, driven by new launches in Brazil and the US.
In full-year results, the company posted a 22% rise in revenue to £28.5 million for 2024, with pre-tax profit up 61% to £8.3 million. Licensing income climbed 23% to £24.5 million, boosted by 44 new distribution deals.
Debt-free with £13.5 million in cash, Gaming Realms also announced a £6 million share buyback and said it expects further growth in South Africa and Canada later this year.
Restating is 'buy' call and 60p price target, Peel Hunt told investors: "The winning formula continues to pay off. GMR is increasingly a play on the buoyant North American market, where content licensing revenue was up 59% [in 2024] to 54% of the total."
On Monday, the stock was changing hands for 37p, up 1.8p on the day.