Full Year 2024 Winking Studios Ltd Earnings Call Transcript
Key Points
- Winking Studios Ltd (SGX:WKS) achieved a revenue growth of 11.2% in 2024, reaching approximately $32 million.
- The company has a strong cash position with $41.3 million in cash, cash equivalents, and bond investments as of the end of 2024.
- Winking Studios Ltd (SGX:WKS) has successfully completed three acquisitions in the past 14 months, expanding its employee base to over 1,300.
- The company has a diversified client base, with no single client contributing more than 17% of total revenue.
- Winking Studios Ltd (SGX:WKS) has a strategic partnership with Acer, which supports its acquisition strategy and AI technology development.
- The adjusted EBITDA for 2024 was $4.8 million, reflecting a decline from 2023 due to increased marketing and listing expenses.
- Despite being the fourth largest game art outsourcing company, Winking Studios Ltd (SGX:WKS) holds less than 1% market share, indicating room for growth.
- The company faces risks related to missing opportunities in the console gaming market in the West, as it primarily focuses on online gaming.
- Additional marketing and promotional expenses, as well as ongoing listing maintenance expenses, totaled $1.2 million in 2024.
- The company's adjusted net profit margin was impacted by increased expenses, although it would have exceeded 2023 levels if these were added back.
Welcome to Winking Studios 2024 full-year results presentation. The company will run you through the results, followed by a live Q&A session at the end.
I now hand over to Harry He who will introduce the agenda for today's presentation.
Joining us today from the company are Johnny Jan, Founder and CEO; Oliver Yen, CFO; Tina Li, General Manager of the Art Outsourcing Segment; and myself, Harry He, International Financial Controller and Head of Investor Relations.
There will be two segments of today's online results briefing. We will start off with the presentation on the latest results, and the agenda will cover the summary for 2024, the strategy in action, financials, case studies, and outlook. Thereafter, we will have the Q&A session, where questions can be posted via the Q&A icon that you see at the Sparklive platform.
Without further delay, let's welcome the company to share insights on the full-year results. Please go
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