Tinybuild Inc Share Price (TBLD)

Someone off loading today.

The Trading Update released today seems optimistic about the company's future. We can only hope.

Anyone still following / invested in this? Any view on Kingmakers release / delay / cancellation, or any other key releases coming up?

It's been 3 months since the delay to Kingmakers was announced, when they said "We will be presenting a 30 minutes deep dive on Kingmakers gameplay very soon, with a comprehensive overview of everything we've been working on."

When they delayed Kingmakers they (the developers) said it would be released 'Soon'. So I guess the question is how long is 'soon', and how long is 'very soon'?!

They also said at the same time that FY results would be at least in line with expectations. But nothing on whether that presumed Kingmakers release in FY25 or not. Given they year has now ended, we must be due a trading update to give investors the details that they have been promised. Lack of transparency is what puts me off investing right now.

If one can put the Kingmakers fiasco and poor comms out of one's mind, the release slate at end of last year and start of this year looks decent - with 'Of Ash and Steel', 'Ferocious' released in Nov / Dec and seem to have done OK. And All Will Fall and SAND due in Q1. The Kingmakers and Streets of Rogue 2 due 'Soon'. And THE LIFT which looks interesting due at some point in 2026.

But as ever with this company, very difficult to link financial performance to the release slate even though it should be relatively straightforward in theory!

Delay to Kingmakers (or flop) was the key risk here, sad to see it happen. For me the thing stopping me getting back into this at these levels is the poor comms over the last month suggests they don't really have control of the business. If they wanted to delay the release - why not announce this with H1 results in mid Sept, why wait until a few days before it was due? And if it's only minor issues that need to be ironed out (ie things they didn't know about or thought could fix easily a few weeks back with H1 results) then why now delay 'indefinitely'? Does that mean a few weeks or months? Or well into next year? It sort of implies they don't really know, which doesn't give confidence they can sort the issues out. And the longer they leave it, the more they risk losing the interest of players who want the game released and have seen multiple delays already...

And then they are sticking to guidance for this year it seems (albeit with caveats re weak market), which they upgraded only a few weeks back. But it's unclear whether or not they need Kingmakers to launch this year in order to get to those upgraded numbers.

Tough to get comfortable. If I was confident there was value here even if Kingmakers was cancelled / a flop, then I'd be putting some money in. But think the upside case here was kind of predicated on a successful launch and that's looking less likely now...

The story of Tinybuild -------> one step forwards, two steps back