v3.26.1
Unaudited Interim Condensed Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating activities      
Profit for the year, net of tax $ 69,331 $ 25,534 $ 46,115
Adjustments for:      
Depreciation and amortization 6,854 6,181 6,276
Share-based payments expense 609 1,278 2,032
Income from share and put option forfeiture and cancellation     (609)
Share of loss of equity-accounted associates 3,799 7,524 515
Impairment loss on trade and loan receivables and change in fair value of loans receivable 9 22 5,919
Change in fair value of share warrant obligations and other financial instruments (4,384) (913) (10,946)
Change in fair value of other investments (128) 1,698 115
Unwinding of discount on the put option liability   129 129
Trade and loan receivables write-off (415) 59 119
Interest income (1,749) (2,344) (4,017)
Interest expense 84 76 61
Lease modification loss (12) 6 33
Gain on acquisition of associates   (47)  
Loss on sale of subsidiaries (117)    
Dividend income (750) (1,371) (1,231)
Foreign exchange gain/loss (796) 5,186 3,395
Income tax expense 5,365 4,509 3,879
Total cash flows from operations before changes in working capital 77,700 47,527 51,785
Changes in working capital:      
Decrease in deferred platform commissions 12,556 6,886 20,686
Decrease in deferred revenue (54,498) (16,938) (42,917)
Decrease/(increase) in trade and other receivables (375) 6,012 (9,880)
(Decrease)/increase in trade and other payables (1,757) (10,394) (632)
Cash flows from (used in) operations (44,074) (14,434) (32,743)
Income tax paid (4,181) (4,568) (1,088)
Net cash flows (used in)/generated from operating activities 29,445 28,525 17,954
Investing activities      
Acquisition of intangible assets (2) (95) (16)
Acquisition of property and equipment (311) (343) (739)
Investments in equity accounted associates (2,314) (7,524) (515)
Loans granted (1,171) (601) (1,933)
Proceeds from repayment of loans 401 472 969
Disposal of intangible assets and property and equipment 6 4  
Acquisition of other investments (44,698) (63,865) (107,159)
Proceeds from redemption of investments 24,410 126,156 75,484
Interest received 525 326 368
Dividends received 750 1,371 1,078
Net cash flows (used in)/generated from investing activities (22,404) 55,901 (32,463)
Financing activities      
Payments of lease liabilities (1,328) (1,591) (1,892)
Dividends paid (55,990)    
Interest on lease (84) (76) (56)
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   (10,159)  
Net cash flows used in financing activities (57,402) (44,935) (1,948)
Net decrease in cash and cash equivalents for the period (50,361) 39,491 (16,457)
Cash and cash equivalents at the beginning of the period 111,049 71,798 86,774
Effect of changes in exchange rates on cash held 2,220 (240) 1,481
Cash and cash equivalents at the end of the period $ 62,908 $ 111,049 $ 71,798