Mighty Kingdom Ltd (AU:FTI)
ASX:FTI
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Mighty Kingdom Ltd
(Sydney:FTI)
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Rating:55Neutral
Price Target:
AU$0.75
▲(141.29% Upside)
Action:ReiteratedDate:05/02/26
The score is held back primarily by continued net losses and persistent negative free cash flow despite improving revenue and strong gross margins. Offsetting this, technicals are constructive with a strong trend above all key moving averages and healthy (not overbought) momentum, while valuation remains unattractive due to negative earnings and no dividend data.
Positive Factors
High gross margin
Sustained gross margins near 86% indicate durable project economics and effective cost control at the production level. High gross margins give the company structural room to cover SG&A, invest in content, and achieve operating leverage as revenue scales, supporting long-term profitability potential.
Negative Factors
Persistent negative cash flow
Ongoing operating and free cash flow deficits force reliance on external financing or equity raises to fund operations and growth. Persistent cash burn can dilute shareholders, constrain R&D and marketing investment, and create runway risk if improving margins and revenues do not convert into positive cash generation.
Read all positive and negative factors
Positive Factors
Negative Factors
High gross margin
Sustained gross margins near 86% indicate durable project economics and effective cost control at the production level. High gross margins give the company structural room to cover SG&A, invest in content, and achieve operating leverage as revenue scales, supporting long-term profitability potential.
Read all positive factors
Mighty Kingdom Ltd (FTI) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$218.06M
Dividend YieldN/A
Average Volume (3M)142.54K
Price to Earnings (P/E)―
Beta (1Y)0.63
Revenue Growth-22.98%
EPS Growth95.85%
CountryAU
Employees126
SectorCommunication Services
Sector Strength97
IndustryElectronic Gaming & Multimedia
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding320,674,530
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 engages in the video game development business in Australia. The company develops video games for console, PC, and mobile platforms. Its games portfolio includes PETER RABBIT RUN!, AVA'S MANOR, GABBY'S DOLLHOUSE, CONAN CHOP ...
How the Company Makes Money
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Mighty Kingdom Ltd Financial Statement Overview
Summary
Income Statement
32
Negative
Balance Sheet
61
Positive
Cash Flow
24
Negative
| Breakdown | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 4.33M | 5.10M | 6.93M | 4.90M | 3.28M |
| Gross Profit | 3.70M | 4.38M | -9.44M | -10.29M | -5.81M |
| EBITDA | -1.68M | -6.33M | -9.92M | -12.14M | -7.78M |
| Net Income | -1.99M | -6.99M | -9.09M | -10.86M | -7.15M |
Balance Sheet | |||||
| Total Assets | 5.81M | 6.56M | 8.51M | 11.38M | 19.06M |
| Cash, Cash Equivalents and Short-Term Investments | 3.03M | 3.37M | 301.79K | 3.75M | 13.55M |
| Total Debt | 0.00 | 0.00 | 264.94K | 693.24K | 1.48M |
| Total Liabilities | 1.32M | 3.63M | 5.26M | 6.09M | 7.16M |
| Stockholders Equity | 4.50M | 2.93M | 3.25M | 5.29M | 11.90M |
Cash Flow | |||||
| Free Cash Flow | -3.79M | -5.62M | -7.38M | -13.43M | -6.28M |
| Operating Cash Flow | -3.78M | -5.60M | -7.36M | -12.71M | -6.07M |
| Investing Cash Flow | -4.07K | 92.90K | -21.54K | -716.56K | -214.09K |
| Financing Cash Flow | 3.46M | 8.58M | 3.93M | 3.63M | 19.88M |
Mighty Kingdom Ltd Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
55 Neutral | AU$218.06M | -30.79 | -69.45% | ― | -22.98% | 95.85% | |
52 Neutral | AU$118.00M | 3.48 | 2.43% | ― | -28.64% | ― | |
50 Neutral | AU$13.20M | 6.35 | -7.56% | ― | 516.43% | -1500.00% | |
45 Neutral | AU$9.53M | -1.37 | -14.37% | ― | 8.86% | 58.02% | |
42 Neutral | AU$22.12M | -7.83 | -71.75% | ― | -11.88% | -15.79% |
* Communication Services Sector Average
AU:FTI
Mighty Kingdom Ltd
0.73
0.67
1116.67%
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0.01
0.00
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0.02
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-37.14%
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0.27
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60.61%
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1.90
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-24.00%
Mighty Kingdom Ltd Corporate Events
FortifAI bolsters Nol8 AI platform with $20m raise as Mighty Kingdom studio refocuses on efficiency
Apr 30, 2026
FortifAI has completed the acquisition of FastAI and its Nol8 technology, finalised a development roadmap for the Nol8 AI Data Plane, and raised $20 million in strategic placements to accelerate technology, marketing and business development. The ...
FortifAI Plans New Share and Option Issue to Bolster Capital
Apr 28, 2026
FortifAI Ltd has notified the ASX of a proposed issue of new securities, comprising up to 20,979,021 ordinary fully paid shares and 2,097,902 options exercisable at $1.0725 and expiring on 7 May 2029. The securities are to be issued via a placemen...
FortifAI Secures $15m Strategic Placement to Accelerate Nol8 AI Platform
Apr 28, 2026
FortifAI has secured firm commitments to raise $15 million via a strategic share placement to institutional and sophisticated investors at $0.715 per share, with no discount to its market price, underscoring strong demand and confidence in its Nol...
FortifAI Claims Nol8 FPGA Can Replace 60,000 CPUs and Transform AI Infrastructure Economics
Apr 28, 2026
FortifAI has reported new benchmark results showing its Nol8 FPGA appliance can match the compute capacity of up to 60,000 CPUs under high-complexity, AI-grade data workloads. The company positions Nol8 as a disruptive AI Data Plane that removes C...
FortifAI Shares Halted on ASX Ahead of Material Capital Raising Announcement
Apr 26, 2026
FortifAI Ltd has requested and been granted a trading halt on its securities by the ASX from 27 April 2026, pending an announcement on a material capital raising. The halt will remain in place until either the company releases further details on t...
FortifAI’s Nol8 Taps Former Elastic Executive to Drive Enterprise AI Data Plane Rollout
Apr 21, 2026
FortifAI’s Nol8 unit, which is building an FPGA-accelerated AI Data Plane to manage real-time data flows for large enterprises, has appointed former Elastic executive Jamie Pope as Chief Solutions Officer to spearhead enterprise adoption. Po...
FortifAI Claims 200,000x Data Throughput Edge Over Google’s RE2 in AI Benchmarks
Apr 1, 2026
FortifAI has reported benchmark tests showing its Nol8 AI Data Plane delivering a more than 200,000-fold throughput advantage over Google’s widely used RE2 pattern-matching engine under high-complexity, AI-grade workloads. Nol8 maintained a ...
Fortifai plans modest ASX share placement to raise new capital
Mar 27, 2026
Fortifai Ltd has notified the ASX of a proposed equity placement of up to 239,000 ordinary fully paid shares. The issue is scheduled for 31 August 2026 and will be conducted as a placement or similar type of securities issue, signaling the company...
Fortifai Appoints New Director With No Disclosed Security Interests
Mar 6, 2026
Fortifai Limited has appointed Sonu Cheema as a director effective 6 March 2026, according to an initial director’s interest notice lodged with the ASX. The filing confirms that Cheema currently holds no relevant interests in Fortifai securi...
FortifAI Refreshes Board and Secretariat as It Scales AI and Gaming Operations
Mar 6, 2026
FortifAI Limited has announced board and governance changes, appointing experienced corporate executive Sonu Cheema as a non-executive director and naming Jake van der Hoek as joint company secretary, while long-serving director Andrew Scott Cole ...
FortifAI Expands Capital Base With 17.7 Million New Shares
Feb 27, 2026
FortifAI Limited has issued 17,666,667 fully paid ordinary shares without a prospectus under the Corporations Act’s disclosure exemptions, notifying the market that it has met its financial reporting and continuous disclosure obligations. Th...
Fortifai Releases Half-Year 2025 Financial Report
Feb 25, 2026
Fortifai Limited has released its Appendix 4D and consolidated financial statements for the half year ended 31 December 2025, including the directors’ report, auditor’s independence declaration and review report. The disclosure package...
Fortifai options lapse as 62,394 securities expire unexercised
Feb 20, 2026
Fortifai Ltd has notified the ASX of changes to its capital structure, confirming the expiry of a tranche of listed options without exercise. The company reported that 62,394 options, which were due to expire on 16 February 2026 with an exercise p...
FortifAI raises $5m to fast-track AI and gaming growth
Feb 19, 2026
FortifAI has secured firm commitments for a $5 million strategic placement, issuing 16,666,667 new shares at $0.30 each to a single leading institutional investor, which will become a key long-term shareholder. The capital injection strengthens th...
Fortifai Issues 155 Million New Shares Under Secondary Trading Exemption
Feb 2, 2026
Fortifai Limited has issued 155 million fully paid ordinary shares without a prospectus or other disclosure document under the Corporations Act, relying on the secondary trading exemption provisions. The company confirmed it is up to date with its...
FortifAI Appoints New Director Yosef Keret With Significant Equity and Performance Rights
Feb 2, 2026
FortifAI Limited has appointed Yosef Keret as a director effective 2 February 2026, with an initial disclosed holding of 180,000 fully paid ordinary shares in his own name and a substantial additional interest via IBI Trust Management as beneficia...
FortifAI Seeks ASX Quotation for 155 Million New Shares
Feb 2, 2026
FortifAI Ltd, listed on the ASX under the code FTI, has applied for the quotation of 155 million new ordinary fully paid shares. The securities, issued as part of previously announced transactions, are dated 2 February 2026 and their quotation wil...
FortifAI Completes Nol8 Technology Acquisition and Appoints Celerriem CEO to Board
Feb 2, 2026
FortifAI Limited has completed the acquisition of FastAI Pty Ltd, gaining full control of Israeli subsidiary Celerriem Ltd and the licensed Nol8 next-generation binary search technology from the Technion Research and Development Foundation, in exc...
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.