v3.25.2
Unaudited Interim Condensed Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating activities    
Profit for the year, net of tax $ 30,891 $ 9,311
Adjustments for:    
Depreciation and amortization 3,272 2,942
Share-based payments expense 463 390
Share of loss of equity-accounted associates [1] 1,715 2,073
Impairment loss on trade and loan receivables and change in fair value of loans receivable 2  
Change in fair value of share warrant obligations and other financial instruments (100) (265)
Change in fair value of other investments (182) 1,002
Unwinding of discount on the put option liability   129
Trade and loan receivables write-off   41
Interest income (898) (1,059)
Interest expense 44 40
Dividend income (408) (662)
Foreign exchange gain/loss (1,613) 2,582
Income tax expense 2,920 1,864
Total cash flows from operations before changes in working capital 36,106 18,388
Changes in working capital:    
Decrease in deferred platform commissions 9,651 853
Decrease in deferred revenue (44,271) 3,454
Decrease/(increase) in trade and other receivables (6,819) (1,029)
(Decrease)/increase in trade and other payables 1,991 (8,321)
Cash flows from (used in) operations (39,448) (5,043)
Income tax paid (422) (1,647)
Net cash flows (used in)/generated from operating activities (3,764) 11,698
Investing activities    
Acquisition of intangible assets (3)  
Acquisition of property and equipment (194) (138)
Acquisition of right-of-use assets   11
Investments in equity accounted associates (1,715)  
Loans granted (368) (2,569)
Proceeds from repayment of loans 316 164
Disposal of intangible assets and property and equipment 15  
Acquisition of other investments (14,147) (62,614)
Proceeds from redemption of investments 4,085 75,166
Interest received 275 66
Dividends received 408 662
Net cash flows (used in)/generated from investing activities (11,328) 10,726
Financing activities    
Payments of lease liabilities (342) (399)
Dividends paid (55,990)  
Interest on lease (44) (40)
Buy-back of the shares resulted from Tender offer   (33,109)
Payments from exercise of put option liability of Cubic Games Studio Ltd's previous shareholders   (10,160)
Net cash flows used in financing activities (56,376) (43,708)
Net decrease in cash and cash equivalents for the period (71,468) (21,284)
Cash and cash equivalents at the beginning of the period 111,049 71,798
Effect of changes in exchange rates on cash held 1,972 240
Cash and cash equivalents at the end of the period $ 41,553 $ 50,754
[1] During the three and six months ended June 30, 2024 losses for POCI loans were erroneously classified as Impairment loss on trade and loan receivables and change in fair value of loans receivable. For such loans originated in respect to the associates, the Company determined that they have zero fair value upon recognition. Therefore, the difference between the fair value at recognition and the cash paid was considered as an additional investment in the equity of the associate (see Note 16 and Note 33).