Trufin Plc Regulatory News (TRU)

5 December 2024

TruFin plc("TruFin" or the "Company" or together with its subsidiaries the "Group")

Trading Update

TruFin is pleased to announce that following its trading update on 18 November 2024 and due to a recent period of positive exposure for Balatro, the hit console and mobile game published by Playstack Ltd ("Playstack"), TruFin now expects it financial performance for the year ending 31 December 2024 to be significantly ahead of previously guided market expectations. Group revenue is now expected to be more than £46m (FY23: £18.1m), representing year-on-year growth in excess of 150%. TruFin also expects EBITDA to be no less than £4.5m (FY23: £(3.5)m) and Adjusted Loss Before Tax to be no more than £(1.5)m (FY23: £(6.6)m).

Balatro has been nominated for 5 awards at this year's Game Awards - including 'Game of the Year'. This is only the 5th time in history that an Indie game has been nominated for 'Game of the Year'. Balatro has already won 2 Golden Joystick Awards, winner of 'Best Indie Game' and the 'Breakthrough Award' and was nominated in 3 other categories. The exposure created by The Golden Joystick Awards and The Game Awards nominations, combined with the high retention rate of Balatro, has resulted in an unprecedented number of new players being introduced to this hit game.

As a result of the exceptional performance, TruFin's cash position is expected to be stronger than originally expected and the Group remains fully funded to profitability.

The information contained within this Announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No.596/2014 as amended by The Market Abuse (Amendment) (EU Exit) Regulations 2019. By the publication of this Announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain. The person responsible for arranging for the release of this Announcement on behalf of the Company is Annie Styler.

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TruFin plc is the holding company of an operating group comprising three growth-focused technology businesses operating in niche markets: early payment provision, invoice finance and mobile games publishing. The Company was admitted to AIM in February 2018 and trades under the ticker symbol: TRU. More information is available on the Company website: www.TruFin.com.