Winking Studios net profit plunges 70.5% in FY2024

However, it saw an 8.9% YoY increase in revenue, reaching $43m (US$31.9m) in FY2024.

Winking Studios has recorded a net profit of $674,000 (US$500,000), suffering a 70.55% drop in FY2024, primarily due to higher operating costs and listing expenses.

However, it saw an 8.9% YoY increase in revenue, reaching $43m (US$31.9m) in FY2024, driven by strong operational performance and project demand.

On a constant currency basis, revenue growth stood at 11.2%. However, net profit declined by 70.5% to $674,000 (US$500,000).

The company’s Computer, Console, and Mobile Game Art Outsourcing divisions drove revenue growth, supported by a strong project pipeline valued at $48.2m (US$35.8m) over the next 24 months.

For 2025, Winking Studios remains focused on expanding in Southeast Asia, leveraging cost efficiencies and a strong talent pool. “Expanding our production footprint will allow us to better meet the evolving needs of our customers,” the company said.

Winking Studios also said cost efficiency measures and continuous operational optimization will help improve profitability, even as the company expands into new markets.

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