Winking Studios Signals Strong FY2025 Growth on Mineloader Deal and Robust Pipeline

An announcement from Winking Studios Limited ( (SG:WKS) ) is now available.

Winking Studios Limited reported a strong FY2025 trading update, expecting revenue to grow by at least 40% from US$31.9 million in FY2024, slightly above market expectations, driven largely by the acquisition of Shanghai Mineloader Digital Technology and mid-to-high single-digit organic growth from its other studios. Adjusted EBITDA is forecast to increase by 7–13% year-on-year, as the group advances its expansion strategy through M&A, new Southeast Asian production capacity including the Vertic Studios high-end art brand, and efforts to build a stronger Western commercial presence; indicative artist bookings of at least US$48.6 million over the next 24 months, with about US$34.6 million expected to be recognised as FY2026 revenue, underscore a solid pipeline and reinforce its positioning as a key outsourcing partner to major global game publishers.

More about Winking Studios Limited

Winking Studios Limited, headquartered in Singapore and dual-listed on the London and Singapore exchanges, is one of Asia’s largest AAA game art outsourcing studios and an established game development company. With more than 25 years of experience, the group provides end-to-end art outsourcing, game development and publishing-related services to the global gaming industry through three business segments, operating 13 studios across Greater China and Malaysia with over 1,400 employees and serving 22 of the world’s top 25 game publishers.

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