Tinybuild Inc. · LSE:TBLD
Tinybuild — H1 2026 Earnings Presentation
26 slides from Tinybuild's earnings presentation, Sep 24, 2026
Slide 1: H1 2026 Results Presentation
H1 2026 RESULTS PRESENTATION
Slide 2: Disclaimer
DISCLAIMER IMPORTANT: You must read the following disclaimer before continuing. The following disclaimer applies to the following presentation and you are therefore advised to read this disclaimer carefully before reading, assessing or making any other use of the presentation. In accessing the prese
Slide 3: Presenting Today
PRESENTING TODAY Alex Nichiporchik - CEO, Founder 20+ years' industry experience. Pro-gamer, shipped tens of titles as Producer, discovered pillar titles and built relationships with key influencers. Giasone (Jaz) Salati - CFO 20+ years’ finance experience. Top ranked equity research analyst, and Chie
Slide 4: Agenda - H1 2026
AGENDA - H1 2026 OPERATIONAL REVIEW FINANCIAL REVIEW STRATEGY APPENDIX 4
Slide 5: Operational Review
OPERATIONAL REVIEW Alex Nichiporchik, CEO
Slide 6: H1 2026 - Strong Publishing Performance
H1 2026 - STRONG PUBLISHING PERFORMANCE ▪ Impressive series of new launches and announcements (e.g. SAND, GK2) ▪ Back catalogue performance above expectations (e.g. HN and tKiW) ▪ Continued investments into new own-IP (3 games in Steam top 100 wishlists) ▪ Cost management and focus on cash generatio
Slide 7: HY 26 Highlights
HY 26 HIGHLIGHTS $20.0m $3.2m >100 games portfolio consolidated revenues Adj. EBITDA1 85% 68% $4.7m of sales from Own-IP cash at the end of June ‘26 of sales from catalogue 1 Adjusted EBITDA is presented net of amortisation of development costs, excluding impairment of intangible assets, depreciatio
Slide 8: Multi-Franchise of Own-IP
MULTI-FRANCHISE OF OWN-IP OVER 100 GAMES Top 3 titles less than 40% of revs HY26 FY25 85% OWN-IP As % of gaming revenue* 8 * Gaming revenue excludes revenues from Development Services and Events
Slide 9: Back Catalogue / Front List
BACK CATALOGUE / FRONT LIST 68% BACK CATALOGUE* AS % OF GAMING REVENUES** * Back catalogue is defined as any games released in the prior financial year and before 9 ** Gaming revenues exclude revenues from Development Services and Events
Slide 10: Financial Review
FINANCIAL REVIEW Giasone (Jaz) Salati, CFO
Slide 11: HY 26 Financials - Summary
HY 26 FINANCIALS - SUMMARY Net Game Revenues 1 Adj. EBITDA 2 Software Development ▪ Net game revenue grew 18% organic in H1 ▪ Adj. EBITDA was $3.2m in HY 2026 ($4.2m ▪ Investments in software development 2026 to $19.1m ($16.2M H1 2025) thanks to in H1 2025) due to a less favourable remained broadly
Slide 12: Adj. EBITDA and Operating Profit
ADJ. EBITDA and OPERATING PROFIT $3.2m Adj. EBITDA in HY 2026 ▪ Adj. EBITDA was positive $3.2m in H1 26, after deducting: - $6.8m on cost of sales that includes royalties paid to development studios - $3.4m in amortisation of development costs, and - $6.6m SG&A costs, that include marketing and expe
Slide 13: Profit & Loss
PROFIT & LOSS (6m to 06/30/2026, unaudited, $'000) H1 25 H1 26 Change Game and merchandise royalties 16,129 19,096 18% Development Services 100 0 -100% Events 751 925 23% ▪ Revenues from game sales increased 18%, with zero Total Revenue 16,980 20,021 18% contribution from development services. Growt
Slide 14: Development Costs
DEVELOPMENT COSTS $6.4m DEVELOPMENT INVESTMENTS 30+ PROJECTS UNDER DEVELOPMENT ▪ Software development investments were broadly flat in ▪ 4 projects have an annual spend of over $500k, including catalogue and H1 26, including higher budget for games with strong unreleased titles. Spending on a single
Slide 15: Cash Flow
CASH FLOW (6m to 06/30/2026, unaudited, $'000) Profit/ Loss for the period H1 25 2,720 H1 26 1,031 Change -62% Share-based payments 110 750 582% Amortisation of intangible assets 5,525 4,966 -10% Impairment of goodwill & intangible assets 1,081 0 -100% ▪ Net cash generated from operations decreased D
Slide 16: Cash Utilisation
CASH UTILISATION $4.7m CASH AT 30 June 2026 ▪ Cash position at the end of June 2026 was broadly stable ($4.7m Vs $4.6m at the end of 2025) ▪ Cash profit was nearly entirely reinvested in new growth opportunities ($6.4m development investments) 16
Slide 17: Balance Sheet
BALANCE SHEET (6m to 06/30/2026, unaudited, $'000) 12/2025 H1 26 Change Intangible Assets 35,301 36,721 4% Property, Plant and Equipment 133 98 -27% Other Assets 412 414 0% ▪ Receivables/payables remained broadly unchanged Total non-current assets 35,847 37,233 4% compared to H2 25. Trade and Other
Slide 18: Strategic Review
STRATEGIC REVIEW Alex Nichiporchik (CEO, Founder)
Slide 19: Case Study: Graveyard Keeper 2
CASE STUDY: GRAVEYARD KEEPER 2 ▪ Successful single player franchise ▪ Truly innovative marketing, record wishlists ▪ Pre-orders and demo -> #1 tinyBuild game by peak CCUs
Slide 20: Case Study: SAND
CASE STUDY: SAND ▪ New own-IP GaaS developed in-house ▪ Solving complex back-end issues one at a time in EA ▪ Major content update boosted CCUs in September ▪ Working on v1.0 and porting to console -> Most successful game launch ever for tinyBuild 20
Slide 21: Case Study: ReStory
CASE STUDY: ReStory ▪ Highly replayable narrative driven game ▪ Long-term relation with dev studios ▪ Growing a niche into mass market -> Fastest wishlist progression to date 21
Slide 22: Announced Pipeline
ANNOUNCED PIPELINE 1. Hello Neighbor 3 (#694) – an open-world stealth sandbox from the creator of Hello Neighbor. 2. Hull Rupture (#590) – a spaceship management and tower defence roguelite from the developers of Despot’s Game. 3. Kingmakers (#8) – an action and strategy sandbox combining modern wea
Slide 23: Closing Remarks
CLOSING REMARKS Alex Nichiporchik (CEO, Founder)
Slide 24: Core Strategy
CORE STRATEGY …across Integrated …creating long …focused on IP multiple developer term scalable ownership… media publisher… franchises… formats 24
Slide 25: Outlook
OUTLOOK The Board remains confident the Company has adopted the right strategy and is on track to deliver full year results above expectations 25
Slide 26: Q&A
Q&A