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Winking Studios Ltd on Wednesday announced higher adjusted earnings as revenue grew markedly while the firm posted an optimistic outlook. The Singapore-based video game services firm said pretax profit fell 5.4% to $953,000 in the first half of 2025 from $1.0 million a year ago. However, adjusted earnings before interest, tax, depreciation and amortisation climbed 18% to $2.4 million from $2.1 million. Adjustments included share-based compensation expenses, foreign exchange gains and costs of acquisition and integration. During the first half of 2025, Winking Studios completed its largest acquisition to date, namely Mineloader, for $19.8 million. Mineloader specialises in higher margin AAA games from console platforms. Revenue from contracts with customers rose 27% to $19.4 million from $15.2 million. Cost of sales increased 23% to $13.5 million from $11.0 million, while administrative costs came in 58% higher at $4.3 million from $2.7 million. Looking ahead, the company said it believes the Asian gaming market is experiencing a ‘strong recovery’ led by mobile gaming, which it added continued to drive demand for art outsourcing. Chief Executive Officer & Founder Johnny Jan said: ‘The need for higher-quality content and more immersive gaming experiences is rising in line with the evolution of the gaming industry and the rapid advancements in technology. Crucially, the Asian gaming market, which dominates the global games industry, is growing rapidly. Despite the headcount reductions felt across the industry in 2024, we are seeing the mobile gaming sector in particular experience a strong recovery and we expect a sustained trend of increased spending on external development among game developers and publishers, playing directly to our existing strengths.’ Winking Studios shares rose 12% to 15.94 pence each on Wednesday afternoon in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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