REG - Winking Studios Ltd - Half Year Results ended 30 June 2025

About this update from Winking Studios Limited

RNS Number : 0615V Winking Studios Limited 13 August 2025 WINKING STUDIOS LIMITED(Company Registration No. 159882)(Incorporated in the Cayman Islands)13 August 2025Half Year Results ended 30 June 2025M&A strategy fueling growth across a rapidly expanding global gaming marketWinking Studios Limited (AIM / SGX: WKS) ("Winking Studios" or the "Company" and together with its subsidiaries, the "Group"), one of the leading global AAA game art outsourcing studios and an established game development company, announces its unaudited results for the six-month period ended 30 June 2025 ("1H2025").Financial Summary(US$ million)1H20251H2024 Change (%)Revenue19.415.2+27.3Gross ProfitGross Margin (%)5.9 30.24.227.9+38.2+2.3 percentage pointsAdjusted EBITDAAdjusted EBITDA Margin (%)EBITDA2.4112.62.22.1213.61.8+17.9(1.0) percentage points+18.3Adjusted Net ProfitNet Profit1.40.91.10.9+21.1+2.0 Financial & Operational Highlights· Strong growth in the Group's revenue, gross profit and Adjusted EBITDA.· Resilient game outsourcing services demand, with follow-up projects contributing 38.8% of revenue (1H2024: 44.1%).· Healthy balance sheet with cash and cash equivalents and bond investments of US$27.1 million and zero debt as at 30 June 2025 (31 December 2024: US$41.3 million and zero debt).· Largest acquisition to date in Shanghai Mineloader Digital Technology Co., Ltd. ("Mineloader"), one of Asia's leading game art outsourcing and development studios, in April 2025.Outlook· The Board believes the Asian gaming market is experiencing a strong recovery, led by mobile gaming, which continues to drive the demand for art outsourcing.· The Group will continue to scale up in Southeast Asia to meet demand with top-tier talent and enhanced production capacity, including the launch of Vertic Studios in 2H2025, a new high-end art production brand of the Group for the global gaming market. Since 30 June 2025, the Group's headcount has grown from 1,312 to 1,405 as at 31 July 2025.· Growing project pipeline with leading game developers and publishers globally, underpinned by strong indicative artist bookings totalling at least US$49.4 million over the next 24 months (subject to final confirmation from customers) as at 30 June 2025 and of which US$18.4 million is expected to be recognised in 2H2025. · Strong cash position and no debt support plans to continue to execute M&A strategy, includ...

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