Want to see AU:FTI full AI Analyst Report?
Top Page
Mighty Kingdom Ltd
(Sydney:FTI)
Select Model
Select Model
Rating:46Neutral
Price Target:
AU$0.50
▲(2.04% Upside)
Action:Reiterated
Date:08/04/26
The score is primarily held back by ongoing losses and persistent negative free cash flow despite improving revenue and gross margins. A debt-free balance sheet provides some stability, but technicals remain weak (below key moving averages with negative MACD), and valuation is constrained by a negative P/E driven by unprofitable earnings.
Positive Factors
Debt-free balance sheet
Zero reported net debt across FY2024–FY2025 materially lowers financial risk and interest burden, giving the company flexibility to fund operations, absorb project timing mismatches, and pursue selective investments or partnerships over the next several months without immediate refinancing pressure.
Negative Factors
Persistent negative cash flow
Consistent negative operating and free cash flow means the company cannot self-fund growth or cover losses from operations. Even with an improving burn rate, ongoing cash deficits require external funding or reserve drawdowns, constraining investment flexibility and raising financing risk over the coming months.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-free balance sheet
Zero reported net debt across FY2024–FY2025 materially lowers financial risk and interest burden, giving the company flexibility to fund operations, absorb project timing mismatches, and pursue selective investments or partnerships over the next several months without immediate refinancing pressure.
Read all positive factors
Mighty Kingdom Ltd (FTI) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$235.98M
Dividend YieldN/A
Average Volume (3M)142.54K
Price to Earnings (P/E)―
Beta (1Y)0.95
Revenue Growth-22.98%
EPS Growth95.85%
CountryAU
Employees126
SectorCommunication Services
Sector Strength97
IndustryElectronic Gaming & Multimedia
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding344,503,540
10 Day Avg. Volume215,429
30 Day Avg. Volume142,542
Financial Highlights & Ratios
PEG Ratio0.11
Price to Book (P/B)4.41
Price to Sales (P/S)4.58
P/FCF Ratio-5.23
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Mighty Kingdom Ltd Business Overview & Revenue Model
Company Description
Mighty Kingdom Limited operates as an Australian video game developer, crafting titles for a diverse range of platforms including consoles, personal computers, and mobile devices. Their extensive catalog of games features well-known creations such...
How the Company Makes Money
Mighty Kingdom primarily makes money through contracted development services (work-for-hire) for third-party clients. Under this model, the company is paid to produce game content or complete game development projects, with revenue recognized base...
Mighty Kingdom Ltd Financial Statement Overview
Summary
Income Statement
32
Negative
Balance Sheet
61
Positive
Cash Flow
24
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.01M | 4.33M | 5.10M | 6.93M | 4.90M | 3.28M |
| Gross Profit | 950.44K | 3.70M | 4.38M | -9.44M | -10.29M | -5.81M |
| EBITDA | -710.61K | -1.68M | -6.33M | -9.92M | -12.14M | -7.78M |
| Net Income | -812.74K | -1.99M | -6.99M | -9.09M | -10.86M | -7.15M |
Balance Sheet | ||||||
| Total Assets | 5.58M | 5.81M | 6.56M | 8.51M | 11.38M | 19.06M |
| Cash, Cash Equivalents and Short-Term Investments | 2.89M | 3.03M | 3.37M | 301.79K | 3.75M | 13.55M |
| Total Debt | 0.00 | 0.00 | 0.00 | 264.94K | 693.24K | 1.48M |
| Total Liabilities | 1.12M | 1.32M | 3.63M | 5.26M | 6.09M | 7.16M |
| Stockholders Equity | 4.45M | 4.50M | 2.93M | 3.25M | 5.29M | 11.90M |
Cash Flow | ||||||
| Free Cash Flow | -648.53K | -3.79M | -5.62M | -7.38M | -13.43M | -6.28M |
| Operating Cash Flow | -647.74K | -3.78M | -5.60M | -7.36M | -12.71M | -6.07M |
| Investing Cash Flow | -1.98K | -4.07K | 92.90K | -21.54K | -716.56K | -214.09K |
| Financing Cash Flow | 3.27M | 3.46M | 8.58M | 3.93M | 3.63M | 19.88M |
Mighty Kingdom Ltd Technical Analysis
Positive
0.49
Price Trends
0.33
Positive
0.26
Positive
Market Momentum
0.06
Negative
61.80
Neutral
77.50
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:FTI, the sentiment is Positive. The current price of 0.49 is above the 20-day moving average (MA) of 0.38, above the 50-day MA of 0.33, and equal to the 200-day MA of ―, indicating a neutral trend. The MACD of 0.06 indicates Negative momentum. The RSI at 61.80 is Neutral, neither overbought nor oversold. The STOCH value of 77.50 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:FTI.
Mighty Kingdom Ltd Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | AU$85.67M | -101.67 | -3.38% | 8.06% | 5.18% | -162.59% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
48 Neutral | AU$10.56M | -10.00 | -7.56% | ― | 516.43% | -1500.00% | |
46 Neutral | AU$235.98M | -185.37 | -53.59% | ― | -22.98% | 95.85% | |
44 Neutral | AU$9.96M | -3.38 | -14.37% | ― | 8.86% | 58.02% | |
41 Neutral | AU$34.60M | -10.65 | 264.77% | ― | 565.09% | -220.00% | |
41 Neutral | AU$47.65M | 78.57 | 2.43% | ― | -28.64% | ― |
* Communication Services Sector Average
AU:FTI
Mighty Kingdom Ltd
0.70
0.55
366.67%
AU:SHO
SportsHero Limited
0.04
<0.01
2.70%
AU:SEG
Sports Entertainment Group Limited
0.31
0.05
20.08%
AU:SP8
Emerge Gaming Limited
0.01
0.00
0.00%
AU:5GG
Pentanet Ltd
0.02
>-0.01
-20.69%
AU:PLY
Playside Studios Ltd
0.11
-0.10
-47.62%
Mighty Kingdom Ltd Corporate Events
FortifAI’s NOL8 AI Platform Posts 10X Cost Edge in Global Megaport Tests
Aug 2, 2026
FortifAI Limited has reported successful global testing of its NOL8 V1.0 AI Data Plane over Megaport’s private network, demonstrating near-zero latency agentic AI data workflows across sites in Virginia, Tokyo and Sydney, with byte-identical...
FortifAI boosts Nol8 rollout with new leadership, funding and AI exchange deal
Jul 31, 2026
FortifAI Limited has accelerated its Nol8 strategy in the June quarter, appointing Silicon Valley veteran Kelly Herrell as CEO, expanding its U.S. leadership team, and forming a new Board of Advisors with deep industry and commercial expertise. Th...
FortifAI Restructures Director Keret’s Role as Nol8 Consultant
Jul 31, 2026
FortifAI Limited has shifted Director Yosef Keret’s role within its subsidiary Nol8 to a consulting engagement, while he continues to serve as a director of both entities. In response to this change, the company has withdrawn a resolution fr...
FortifAI adds top global sales executive to Nol8 advisory board ahead of AI Data Plane launch
Jul 27, 2026
FortifAI has strengthened the advisory board of its Nol8 subsidiary with the appointment of Jason Forget, a seasoned enterprise software sales leader who has scaled data infrastructure firms Imperva and Redis from inception to hundreds of millions...
FortifAI Issues 1.4 Million New Shares Under Disclosure Exemption
Jul 8, 2026
FortifAI Limited has issued 1,400,000 fully paid ordinary shares without a prospectus or other disclosure under the capital-raising provisions of the Corporations Act, utilising an exemption that allows such issuance to sophisticated or otherwise ...
Fortifai Seeks ASX Quotation for 1.4 Million New Shares
Jul 8, 2026
Fortifai Ltd has lodged an application with the ASX for quotation of an additional 1,400,000 ordinary fully paid shares under its existing FTI code. The new securities were issued on July 8, 2026, and arise from the exercise or conversion of previ...
FortifAI Calls August Meeting to Ratify Prior Share Issues
Jul 8, 2026
FortifAI Limited has called a shareholder meeting for 11:00 a.m. on 7 August 2026 in Perth to consider ratifying prior share issues made under ASX Listing Rule 7.1. The directors have set 7:00 p.m. Sydney time on 5 August 2026 as the record date f...
Fortifai discloses exit of director Duncan Gordon and details indirect option holdings
Jun 26, 2026
Fortifai Limited has announced the cessation of director Duncan Gordon from its board effective 26 June 2026, as disclosed in a final director’s interest notice to the ASX. The filing confirms that Gordon held no securities in his own name a...
FortifAI Director Resigns Amid Ongoing Board Restructuring
Jun 26, 2026
FortifAI Limited has announced the resignation of non-executive director Duncan Gordon, effective 26 June 2026, as he steps down due to increased executive commitments at other listed companies. The board acknowledged Gordon’s contribution d...
FortifAI names inaugural Advisory Board to accelerate Nol8 AI infrastructure push
Jun 26, 2026
FortifAI has formed an Advisory Board to support the build-out and commercialisation of Nol8, its AI Data Plane platform designed to manage and deliver data to AI agents at high speed for cloud and enterprise customers. The move brings in senior i...
Mighty Kingdom Showcases Leadership Team for Agentic AI Infrastructure Push
Jun 22, 2026
Mighty Kingdom Ltd is highlighting its leadership bench as it advances into the emerging field of agentic AI infrastructure and data-plane technologies. The chief technology officer brings expertise in accelerated computing and networking from pri...
FortifAI Issues 1.45 Million New Shares in Routine Capital Management Move
Jun 1, 2026
FortifAI Limited has issued 1,450,000 fully paid ordinary shares on 29 May 2026 under provisions that allow the placement without a full prospectus, and has notified the market in accordance with section 708A of the Corporations Act. The company a...
FortifAI taps veteran Silicon Valley CEO to drive global rollout of Nol8 AI data infrastructure
May 31, 2026
FortifAI has appointed seasoned Silicon Valley executive Kelly Herrell as chief executive of both the company and its AI infrastructure subsidiary Nol8, signaling a strategic push to commercialize its FPGA-accelerated AI Data Plane technology. Her...
Fortifai Seeks ASX Quotation for 1.45 Million New Shares
May 29, 2026
Fortifai Ltd has applied for quotation of 1,450,000 new ordinary fully paid shares on the Australian Securities Exchange under code FTI, with an issue date of 29 May 2026. The move increases the company’s quoted share capital and may enhance...
Kipto Pty Ltd exits substantial holder position in Fortifai Ltd
May 12, 2026
Kipto Pty Ltd has ceased to be a substantial shareholder in Fortifai Ltd after changes in its relevant interests were recorded on 7 May 2026. The change resulted from a dilution due to a placement and an off-market transfer involving 38,433,317 sh...
Fortifai Issues 2.1 Million Unquoted Options in Capital Structure Move
May 8, 2026
Fortifai Ltd has notified the market of a new issue of unquoted equity securities, comprising 2,097,902 options expiring on 7 May 2029 with an exercise price of $1.0725. The options, which form part of previously flagged transactions and are not i...
FortifAI Issues 20.98 Million Shares to Support AI Infrastructure Growth
May 7, 2026
FortifAI Limited has issued 20,979,021 fully paid ordinary shares without a prospectus-style disclosure, relying on provisions of the Corporations Act that allow such placements, and has confirmed ongoing compliance with its financial reporting an...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.