The AIM-listed developer posted a $5.6 million adjusted EBITDA turnaround in 2025, driven by back catalogue strength and the console launch of Deadside
Shares in tinyBuild Inc (LSE:TBLD), the AIM-listed video games publisher and developer, rose 16% to 7.25p on Thursday after the company reported full-year results ahead of expectations, including a swing from a $6.1 million adjusted EBITDA loss in 2024 to a $5.6 million profit.
Revenue from continuing operations grew 17% to $35.5 million in the year ended 31 December 2025, supported by new releases and a resilient back catalogue that accounted for 88% of gaming revenues.
Cash generated from operating activities doubled to $12.7 million from $6.3 million, leaving the company with $4.6 million of cash at the year end, though management said this was expected to reduce in spring as investment in upcoming releases continued.
A key driver of the improved revenue mix was the console launch of Deadside, a survival shooter that lifted the contribution from the company's own intellectual property titles to 86% of gaming revenues from 77% in 2024.
Chief executive Alex Nichiporchik said the company now has seven titles on the Steam Top 200 Wishlist chart, a record for the group.
The outlook struck a cautious tone, noting that around 20,000 games were released in 2025, 8% more than the prior year, intensifying competition in an already crowded market.
Geopolitical risks, including the conflicts in Ukraine and the Middle East, were also flagged as factors requiring continued vigilance, given the company's international staff and revenue exposure.
The board said it remained confident of delivering results at least in line with expectations in 2026.