tinyBuild Inc. (GB:TBLD) has released an update.
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tinyBuild Inc., a leading video game publisher and developer, reported a challenging financial year with a 29% revenue decline to $44.7 million and a significant operating loss of $63.8 million for 2023, attributed to lower large contract revenues, impairments, and increased costs. Despite the financial setbacks, the company highlighted a strong game pipeline and cost-saving measures aimed at achieving an annualized savings of nearly $10 million in 2024. The company remains confident in its long-term strategy and upcoming game releases, supported by a successful fundraise of $12.3 million in January 2024.
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