tinyBuild Inc (LSE:TBLD) shares climbed in Tuesday's early deals after reporting a first-half performance ahead of expectations.
Revenue from continuing operations was $17 million, broadly flat year on year, while earnings (adjusted EBITDA) improved to $4.2 million from a $2.3 million loss in the prior period.
The indie game developer reported an improved gross profit of $10.4 million, including lower development-cost impairments of $1.1 million and reduced operating costs.
Net cash from operating activities increased to $6.8 million, and it ended the half with $4.6 million of cash.
"In a slowly-improving environment, our strategy to invest cautiously in new own-IP with a diversified approach of higher and lower budgets is showing good results," said chief executive Alex Nichiporchik.
"We can look to the future with cautious optimism."
tinyBuild said it remains confident that the company is on track to deliver results ahead of expectations at the adjusted EBITDA level.
In London, tinyBuild shares were up 4.87% changing hands at 10.23p, and at one point reached 11.5p.