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We are one of the Largest Game Art Outsourcing and Game Development Studios in the World
Headquartered in Singapore, the Group has 13 studios across Kuala Lumpur, Taipei, Shanghai, Nanjing, Suzhou, Tianjin and Dalian, providing end-to-end art outsourcing and game development services for the global gaming industry.
With established, long-standing collaborations with a global customer base that includes 22 of the top 25 game publishers in the world, Winking Studios is embarking on our global ambitions via a proactive M&A strategy.
Our Partners
Financial Highlights
Extracted from Annual Report (dated 8 April 2026)
Revenue Growth
US$45.5m
+42.6% YoY
Robust growth from Art Outsourcing and Game Development
Adjusted EBITDA
US$5.4m
+13.2% YoY
Comprises EBITDA, adjusted for the Group’s share-based compensation expenses, foreign exchange losses and costs of acquisition and integration
Organic Growth
8.6%
Underlying organic revenue growth*
with most of that growth coming in 2H2025. Excluding Mineloader’s contribution in FY2025, the Group’s revenue growth rate was 7.0%
Healthy Liquidity
US$28.8m
(includes cash, cash equivalents and bond investments)
Supports disciplined investment, selective M&A and Western expansion
No. of AAA Titles
117
+735.7% YoY
AAA titles worked on by Winking Studios in FY2025 (FY2024: 14 AAA titles)
Revenue Visibility
Based on indicative bookings of artists by customers over next 24 months, of at least
US$48.6m
as at 31 December 2025#, US$34.6m is expected to be recognised in FY2026 (subject to final customer confirmation)
*Organic revenue growth is calculated by adjusting the prior year revenues, adding pre-acquisition revenues for the corresponding period of ownership.
#In comparison, as of 31 December 2024, the indicative bookings of our artists was US$35.8m by customers over next 24 months that was subject to changes depending on the final confirmation from customers.
