TIDMTBLD
RNS Number : 4138G
tinyBuild, Inc.
26 July 2021
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR
INDIRECTLY, TO OR FOR THE ACCOUNT OR BENEFIT OF US PERSONS, AS
DEFINED IN REGULATION S PROMULGATED UNDER THE US SECURITIES ACT OF
1933, AS AMENDED (THE "US SECURITIES ACT"), OR IN OR INTO THE
UNITED STATES, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND OR THE
REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE SUCH
RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.
26 July 2021
tinyBuild, Inc
("tinyBuild" or the "Company")
AGM statement and Notice of Results
tinyBuild, a leading video games publisher and developer with
global operations, is pleased to provide an update on trading ahead
of its AGM later today and the publication of its interim results
for the six months ended 30 June 2021 ("H1 2021") on Wednesday 15
September 2021.
Highlights
-- First half performance in line with expectations for H1 2021
-- Seven new games were signed, taking the current pipeline to 26
-- Strong catalogue performance (e.g. Secret Neighbor reached 2 million downloads on iOS)
-- The Company expects to deliver full year 2021 results at least in line with expectations
Current trading
2021 has seen the progressive lifting of Covid restrictions
across a number of countries. In contrast with general expectations
that video games sales would be negatively impacted, the Board is
pleased to confirm that tinyBuild sales are progressing at least in
line with expectations for the financial year 2021.
tinyBuild continues to benefit from platform competition and is
also well positioned for subscription services growth. Development
advances received from distribution partners were above
expectations and have given the Company greater visibility in terms
of future revenue growth, while helping de-risk the development
process for new games.
As anticipated, the release schedule for 2021 is weighted
towards the second half of the year. The Board is pleased to report
catalogue titles are performing strongly, alongside new game
launches, and the Company's first half performance is in line with
expectations for H1 2021.
Portfolio and pipeline
Since the beginning of the year, tinyBuild released Mayhem in
Single Valley (PC only), a puzzle-loaded action adventure where the
player has to prevent the end of the world, Hello Engineer (early
access on Stadia), a multiplayer machinery-building construction
game, Cartel Tycoon (early access on Steam), a first party survival
business sim, and Black Skylands (early access on Steam), a skypunk
Open World action adventure.
The Company also continues to broaden the reach of catalogue
titles to new platforms, including Totally Reliable Delivery
Service (Steam) and Secret Neighbor (PS4 and iOS). Secret Neighbor,
a multiplayer spin-off in the Hello Neighbor franchise where a
group of intruders try to rescue their friend from the Neighbor's
creepy basement, topped the charts on Apple Store in a number of
countries, and it has reached 2 million downloads on iOS.
tinyBuild had 23 games in the pipeline at the end of 2020. So
far in 2021, the Company has signed an additional seven new games,
increasing the total number of new games under development to 26,
after accounting for the new launches so far. Of these new games,
four will be developed in Eastern Europe and Russia, two in the US
and one in New Zealand.
People
As part of its effort to secure talent at competitive cost, the
Company continued to hire staff (both employees and independent
contractors) in strategic geographies. Staff increased from 147 at
the beginning of the year to 166 currently, with most of the
additions in our development studios.
tinyBuild aims to offer employees the best working conditions in
the industry. For example, the Company has implemented clear
policies against crunching, the industry practice by which
developers overwork to meet certain targets. In June, tinyBuild
also gifted one extra week of holiday to all direct employees in a
gesture of appreciation for everybody's hard work.
As a result, tinyBuild enjoys one of the lowest levels of staff
turnover, low single digit, compared to an estimated 15.5.% at an
industry level ( Wired ).
Outlook
While tinyBuild continues to carefully review the impact of the
pandemic and the fluid macroeconomic situation, early indicators of
consumer traction across the Company's pipeline, including KPIs for
Hello Neighbor 2, are very encouraging.
The Board remains confident the Company is on track to deliver
results at least in line with expectations, plus accretive
acquisitions.
Alex Nichiporchik, Chief Executive Officer of tinyBuild,
commented:
"We are really excited about tinyBuild's progress in terms of
organic growth, with major titles in our pipeline showing strong
KPIs ahead of launch, including new titles such as Tinykin and the
widely anticipated sequel of Hello Neighbor.
"We remain focused on finding new games at different stages of
development, and we continue to evaluate a number of M&A
targets to help accelerate growth. 2021 has started well, and we
look at the future with confidence."
Analyst Presentation
tinyBuild plans to publish its interim results for the six
months ended 30 June 2021 on Wednesday 15 September 2021. Subject
to potential restrictions due to Covid, the Company intends to host
an in-person presentation to analysts in London at 2pm on the same
day. The presentation will be followed by a product demo session at
3pm, where participants will be able to experience the Company's
games firsthand.
Enquiries :
tinyBuild, Inc investorrelations@tinybuild.com
Alex Nichiporchik - Chief Executive
Officer and co-founder
Luke Burtis - Chief Operating Officer
and co-founder
Antonio Jose Assenza - Chief Financial
Officer
Giasone (Jaz) Salati - Head of M&A
and IR
Zeus Capital (Nominated Adviser and
Joint Broker)
Nick Cowles (Corporate Finance); Benjamin
Robertson (Equity Capital Markets) +44 (0)20 3829 5000
Berenberg (Joint Broker)
Ben Wright, Mark Whitmore, James White,
Alix Mecklenburg-Solodkoff, Milo Bonser +44 (0)20 3207 7800
SEC Newgate (Financial PR) tinybuild@secnewgate.co.uk
Robin Tozer, Bob Huxford, Megan Kovach +44 (0)7540 106366
About tinyBuild:
Founded in 2013, tinyBuild (AIM: TBLD) is a leading premium
AA-rated and indie video games publisher and developer. tinyBuild
strategically secures access to IP and partners with developers to
establish a stable platform on which to build multi-game and
multimedia franchises. tinyBuild has a strong portfolio of over 40
titles, and its upcoming pipeline includes over 20 new titles
currently in development.
Headquartered in Seattle, Washington, USA, the Company has key
operations worldwide, with employees, contractors or partners in
multiple locations across five continents. tinyBuild's geographic
diversity enables it to source high-potential IP, cost-effective
development resources and a loyal customer base through innovative
grassroots marketing.
tinyBuild was admitted to the AIM index of the London Stock
Exchange in March 2021.
For further information, visit: www.tinybuildinvestors.com .
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
AGMRFMATMTBTMRB
(END) Dow Jones Newswires
July 26, 2021 02:00 ET (06:00 GMT)
Tinybuild (LSE:TBLD)
Historical Stock Chart
From Apr 2024 to May 2024
Tinybuild (LSE:TBLD)
Historical Stock Chart
From May 2023 to May 2024