Major Estimate Revision • Aug 20
Consensus revenue estimates decrease by 14%, EPS upgraded The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast fell from US$56.0m to US$47.9m. EPS estimate increased from -US$0.0038 to -US$0.0025 per share. Entertainment industry in Singapore expected to see average net income growth of 7.4% next year. Consensus price target of S$0.34 unchanged from last update. Share price fell 4.8% to S$0.20 over the past week. Reported Earnings • Aug 18
First half 2026 earnings released: US$0.006 loss per share (vs US$0.002 profit in 1H 2025) First half 2026 results: US$0.006 loss per share (down from US$0.002 profit in 1H 2025). Revenue: US$23.5m (up 21% from 1H 2025). Net loss: US$2.50m (down 370% from profit in 1H 2025). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the Entertainment industry in Asia. Aankondiging • Jul 28
Winking Studios Limited Provides Earnings Guidance for the Six-Month Period Ended June 30, 2026 Winking Studios Limited provided earnings guidance for the six-month period ended June 30, 2026. For the period, the company expects to report an increase in revenue of at least 20% compared to USD 19.4 million a year ago. Revenue growth was driven principally by sustained demand for the Group's art outsourcing services. This was supported by the continued scaling of Vertic Studios, the high-end AAA art production studio established by the Group in July 2025, together with a full six-month contribution from Shanghai Mineloader Digital Technology Co., Ltd, acquired in April 2025. Aankondiging • Jul 27
Winking Studios Limited to Report First Half, 2026 Results on Aug 14, 2026 Winking Studios Limited announced that they will report first half, 2026 results on Aug 14, 2026 Declared Dividend • May 18
Dividend of S$0.00024 announced Dividend of S$0.00024 is the same as last year. Ex-date: 21st May 2026 Payment date: 3rd June 2026 Dividend yield will be 0.1%, which is lower than the industry average of 1.4%. Sustainability & Growth Buy Or Sell Opportunity • May 14
Now 23% overvalued Over the last 90 days, the stock has fallen 4.2% to S$0.23. The fair value is estimated to be S$0.19, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has declined by 53%. For the next 3 years, revenue is forecast to grow by 16% per annum. Earnings are also forecast to grow by 27% per annum over the same time period. Major Estimate Revision • May 06
Consensus EPS estimates fall by 19% The consensus outlook for fiscal year 2026 has been updated. 2026 expected loss increased from -US$0.0032 to -US$0.0038 per share. Revenue forecast unchanged at US$56.0m. Entertainment industry in Singapore expected to see average net income growth of 21% next year. Consensus price target of S$0.34 unchanged from last update. Share price fell 2.1% to S$0.23 over the past week. Reported Earnings • Apr 12
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: US$0.001 (down from US$0.002 in FY 2024). Revenue: US$45.5m (up 43% from FY 2024). Net income: US$326.0k (down 38% from FY 2024). Profit margin: 0.7% (down from 1.6% in FY 2024). Revenue exceeded analyst estimates by 4.4%. Earnings per share (EPS) also surpassed analyst estimates by 40%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 8.8% growth forecast for the Entertainment industry in Asia. Aankondiging • Apr 08
Winking Studios Limited, Annual General Meeting, Apr 30, 2026 Winking Studios Limited, Annual General Meeting, Apr 30, 2026, at 16:00 Singapore Standard Time. Location: ymca @ one orchard, 1 orchard road, singapore 238824, tct function room (level 4), Singapore Major Estimate Revision • Mar 28
Consensus revenue estimates increase by 10% The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast increased from US$50.9m to US$56.0m. EPS estimate unchanged from US$0.002 at last update. Entertainment industry in Singapore expected to see average net income growth of 29% next year. Consensus price target of S$0.34 unchanged from last update. Share price rose 8.9% to S$0.24 over the past week. Aankondiging • Mar 28
Winking Studios Limited Appoints Claude Bordeleau as Chief Revenue Officer Following Acquisition of Ampera Winking Studios Limited announced that on completion of the proposed acquisition of Studios Ampera Inc., Claude Bordeleau, formerly a senior leader of Keywords Studios, will join the Group as Chief Revenue Officer and lead the Group's global commercial strategy across Western markets, reporting directly to Executive Director and Chief Executive Officer (Founder) Johnny Jan. Claude founded Volta Creation Inc. in 2006 and built it into an award-winning game art studio serving global AAA game clients. Following Keywords Studios' acquisition of Volta in 2016, Claude went on to hold senior leadership roles within Keywords' Create division, where he played an integral role in scaling the business's art services operations in North America and Europe. Winking Studios believes Claude's experience in studio-building, customer development and strategic growth will be highly valuable as the Group strengthens its commercial presence in North America and continues to develop its wider Western market strategy. Aankondiging • Mar 27
Winking Studios Limited (Catalist:WKS) entered into a share purchase agreement to acquire Studios Ampera Inc. from Claude Bordeleau, Luc Blouin, and Manuel Couture for CAD 2.9 million. Winking Studios Limited (Catalist:WKS) entered into a share purchase agreement to acquire Studios Ampera Inc. from Claude Bordeleau, Luc Blouin, and Manuel Couture for CAD 2.9 million on March 27, 2026. Under the terms of the transaction, the purchase price includes a payment of CAD 0.525 million to Claude Bordeleau. Additionally, there will be a deferred issuance of an aggregate of 10 million consideration shares in the capital of Winking Studios to the vendors. The transaction will be financed through the Winking Studios' internal resources as well as proceeds from the Placing. On completion, Claude Bordeleau, will join Winking Studios as Chief Revenue Officer.
The transaction is subject to the satisfaction of customary closing conditions, including the execution of employment agreements and confidentiality, non-compete and proprietary rights agreements, as well as operational and financial integration steps required to enable consolidation into the Winking Studios' financial reporting. The expected completion of the transaction is in April 2026. The proposed acquisition of Ampera is expected to be accretive to the Winking Studios' revenue performance in FY2026. New Risk • Mar 07
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.5% net profit margin). Market cap is less than US$100m (S$101.6m market cap, or US$79.5m). Reported Earnings • Mar 03
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: US$0.001 (down from US$0.002 in FY 2024). Revenue: US$45.5m (up 43% from FY 2024). Net income: US$326.0k (down 38% from FY 2024). Profit margin: 0.7% (down from 1.6% in FY 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.4%. Earnings per share (EPS) also surpassed analyst estimates by 40%. Revenue is forecast to grow 8.5% p.a. on average during the next 2 years, compared to a 9.7% growth forecast for the Entertainment industry in Asia. Aankondiging • Jan 30
Winking Studios Limited to Report Fiscal Year 2025 Results on Feb 27, 2026 Winking Studios Limited announced that they will report fiscal year 2025 results on Feb 27, 2026 Buy Or Sell Opportunity • Dec 01
Now 21% overvalued Over the last 90 days, the stock has fallen 3.8% to S$0.26. The fair value is estimated to be S$0.21, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last year. Earnings per share has declined by 76%. Revenue is forecast to grow by 46% in 2 years. Earnings are forecast to grow by 344% in the next 2 years. Reported Earnings • Aug 15
First half 2025 earnings released: EPS: US$0.002 (vs US$0.003 in 1H 2024) First half 2025 results: EPS: US$0.002. Revenue: US$19.4m (up 27% from 1H 2024). Net income: US$927.0k (up 2.0% from 1H 2024). Profit margin: 4.8% (down from 6.0% in 1H 2024). Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 10.0% growth forecast for the Entertainment industry in Asia. New Risk • Aug 14
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 24% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.5% net profit margin). Market cap is less than US$100m (S$121.1m market cap, or US$94.6m). Aankondiging • Aug 01
Winking Studios Limited Provides Earnings Guidance for the Six-Month Period Ended 30 June 2025 Winking Studios Limited announced that based on a preliminary review of the Group's unaudited financial statements for six-month period ended 30 June 2025, Winking Studios expects to report a revenue increase of at least 20% as compared to the six-month period ended 30 June 2024 of USD 15.2 million. Aankondiging • Jul 30
Winking Studios Limited to Report First Half, 2025 Results on Aug 13, 2025 Winking Studios Limited announced that they will report first half, 2025 results on Aug 13, 2025 Declared Dividend • May 19
Dividend of S$0.00024 announced Shareholders will receive a dividend of S$0.00024. Ex-date: 22nd May 2025 Payment date: 5th June 2025 Dividend yield will be 0.1%, which is lower than the industry average of 1.4%. Sustainability & Growth Aankondiging • May 03
Winking Studios Limited Approves First and Final Dividend One-Tier Tax Exempt for the Financial Year Ended 31 December 2024 Winking Studios Limited at its AGM held on 30 April 2025, approved first and final dividend of SGD 0.00024 per ordinary share one-tier tax exempt for the financial year ended 31 December 2024. Reported Earnings • Apr 11
Full year 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2024 results: EPS: US$0.002 (down from US$0.007 in FY 2023). Revenue: US$31.9m (up 8.9% from FY 2023). Net income: US$525.0k (down 71% from FY 2023). Profit margin: 1.6% (down from 6.1% in FY 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.6%. Earnings per share (EPS) exceeded analyst estimates. Revenue is forecast to grow 23% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Entertainment industry in Asia. Aankondiging • Apr 08
Winking Studios Limited, Annual General Meeting, Apr 30, 2025 Winking Studios Limited, Annual General Meeting, Apr 30, 2025, at 16:00 Singapore Standard Time. Location: one farrer hotel, level 6 spottiswoode, 1 farrer park station road, singapore 217562, Singapore Aankondiging • Apr 03
Winking Studios Limited (Catalist:WKS) completed the acquisition of Shanghai Mineloader Digital Technology Co., Ltd. from a group of sellers Winking Studios Limited (Catalist:WKS) agreed to acquire Shanghai Mineloader Digital Technology Co., Ltd. from a group of sellers for approximately CNY 150 million on January 17, 2025. A cash consideration of CNY 131.4 million will be paid by Winking Studios Limited. Winking Studios Limited will pay an earnout/contingent payment of CNY 14.6 million cash. As part of consideration, CNY 146 million is paid towards common equity of Shanghai Mineloader Digital Technology Co., Ltd. Strand Hanson Limited acted as financial advisor to Winking Studios.
Winking Studios Limited (Catalist:WKS) completed the acquisition of Shanghai Mineloader Digital Technology Co., Ltd. from a group of sellers on April 1, 2025. New Risk • Mar 06
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 1.6% Last year net profit margin: 6.1% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (57% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (7.9% average weekly change). Profit margins are more than 30% lower than last year (1.6% net profit margin). Market cap is less than US$100m (S$125.5m market cap, or US$94.2m). Aankondiging • Mar 02
Winking Studios Limited Board Proposes Dividend for Year 2024 Winking Studios Limited board proposed dividend of SGD 0.024 cents (GBP 0.014 pence) per share in FY2024, representing approximately 15% of the Group's distributable profit in FY2024, in line with dividend policy. Reported Earnings • Feb 28
Full year 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2024 results: EPS: US$0.002 (down from US$0.007 in FY 2023). Revenue: US$31.9m (up 8.9% from FY 2023). Net income: US$525.0k (down 71% from FY 2023). Profit margin: 1.6% (down from 6.1% in FY 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.6%. Earnings per share (EPS) exceeded analyst estimates. Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Entertainment industry in Asia. Aankondiging • Feb 13
Winking Studios Limited to Report Fiscal Year 2024 Results on Feb 27, 2025 Winking Studios Limited announced that they will report fiscal year 2024 results on Feb 27, 2025 Major Estimate Revision • Jan 24
Consensus forecasts updated The consensus outlook for fiscal year 2024 has been updated. Entertainment industry in Singapore expected to see average net income growth of 46% next year. Consensus price target of S$0.37 unchanged from last update. Share price was steady at S$0.30 over the past week. Aankondiging • Jan 17
Winking Studios Limited (Catalist:WKS) agreed to acquire Shanghai Mineloader Digital Technology Co., Ltd. from a group of sellers for approximately CNY 150 million Winking Studios Limited (Catalist:WKS) agreed to acquire Shanghai Mineloader Digital Technology Co., Ltd. from a group of sellers for approximately CNY 150 million on January 17, 2025. A cash consideration of CNY 131.4 million will be paid by Winking Studios Limited. Winking Studios Limited will pay an earnout/contingent payment of CNY 14.6 million cash. As part of consideration, CNY 146 million is paid towards common equity of Shanghai Mineloader Digital Technology Co., Ltd. Strand Hanson Limited acted as financial advisor to Winking Studios. New Risk • Jan 17
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Singaporean stocks, typically moving 7.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (57% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (7.4% average weekly change). Market cap is less than US$100m (S$136.5m market cap, or US$99.9m). Board Change • Dec 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Dan Widdicombe was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Aankondiging • Nov 15
Winking Studios Limited has completed a Follow-on Equity Offering in the amount of £7.9 million. Winking Studios Limited has completed a Follow-on Equity Offering in the amount of £7.9 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 52,666,667
Price\Range: £0.15
Transaction Features: New Market Listing Aankondiging • Nov 12
Winking Studios Limited has filed a Follow-on Equity Offering in the amount of £7.9 million. Winking Studios Limited has filed a Follow-on Equity Offering in the amount of £7.9 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 52,666,667
Price\Range: £0.15
Transaction Features: New Market Listing Aankondiging • Sep 04
Winking Studios Launches Genmotion.Ai to Revolutionize 3D Animation Design Winking Studios unveiled its new GenMotion.AI application at the next@acer global press conference in Berlin, Germany. The cutting-edge tool, developed by Winking's AI Research Lab, is designed for professional animators and game production, leveraging AI to generate 3D game animations using text descriptions. GenMotion.AI streamlines the creation process of detailed 3D art with its advanced customization features tailored to meet specific animation requirements. Future updates will expand the tool's reach, making it accessible to both seasoned professionals and amateur creators. Key Features of GenMotion.AI: High-Quality Training Data: GenMotion.AI is powered by high-quality training data, specifically curated to meet the demands of the gaming industry, ensuring precise and accurate animations. Deep Understanding of Animator Needs: Leveraging Winking's extensive experience in art production, GenMotion.AI is crafted with a deep insight into animator workflows and requirements, ensuring seamless integration into existing processes to enhance creativity and productivity. Data Provenance Traceability: All training data are copyright-protected, with the entire motion capture process fully recorded on video and meticulously documented on the blockchain. A renowned law firm has attested to the integrity of the workflow, ensuring security and compliance, allowing creators to use GenMotion.AI confidently without worrying about copyright concerns. Reported Earnings • Aug 15
First half 2024 earnings released: EPS: US$0.003 (vs US$0.005 in 1H 2023) First half 2024 results: EPS: US$0.003 (down from US$0.005 in 1H 2023). Revenue: US$15.2m (up 19% from 1H 2023). Net income: US$909.0k (down 19% from 1H 2023). Profit margin: 6.0% (down from 8.7% in 1H 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Entertainment industry in Asia. Aankondiging • Jul 31
Winking Studios Limited Announces Change of Company Secretaries, Effective July 31, 2024 Winking Studios Limited announced resignation of Ms Hon Wei Ling and Ms Loo Shi Yi as Company Secretaries of the Company with effect from 31 July 2024. The Company also wishes to announce the appointment of Ms Peck Jen Jen as Company Secretary of the Company with effect from July 31, 2024. Aankondiging • May 01
Winking Studios Limited Declares a Special Dividend for the Financial Year Ended 31 December 2023 Winking Studios Limited at its Annual General Meeting held on April 30, 2024, declared a special dividend of SGD 0.005 per ordinary share one-tier tax exempt for the financial year ended 31 December 2023. Reported Earnings • Apr 19
Full year 2023 earnings released: EPS: US$0.007 (vs US$0.005 in FY 2022) Full year 2023 results: EPS: US$0.007 (up from US$0.005 in FY 2022). Revenue: US$29.3m (up 20% from FY 2022). Net income: US$1.78m (up 72% from FY 2022). Profit margin: 6.1% (up from 4.2% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.3% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Entertainment industry in Asia. Aankondiging • Apr 17
Winking Studios Limited, Annual General Meeting, Apr 30, 2024 Winking Studios Limited, Annual General Meeting, Apr 30, 2024, at 10:00 Singapore Standard Time. Location: Singapore Business Federation, 160 Robinson Road, #06-01 SBF Center, Singapore Singapore Agenda: To receive and adopt the Audited Financial Statements for the financial year ended 31 December 2023 together with the Directors' Statement and the Independent Auditor's Report thereon;to consider declare a special and final dividend of S$0.005 per ordinary share one-tier tax exempt for the financial year ended 31 December 2023;to consider re-elect a Directors;to consider approve the payment of Directors' fees of US$81,000 for the financial year ending 31 December 2024, to be paid half yearly in arrears;to consider re-appoint Messrs PricewaterhouseCoopers LLP as Auditors of the Company and to authorize the Directors to fix their remuneration;to consider authorize the Directors to allot and issue shares;to approve the proposed renewal of the general mandate for interested person transactions. Aankondiging • Apr 11
Winking Studios Limited has filed a Follow-on Equity Offering in the amount of SGD 27 million. Winking Studios Limited has filed a Follow-on Equity Offering in the amount of SGD 27 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 108,000,000
Price\Range: SGD 0.25
Discount Per Security: SGD 0.00875
Transaction Features: Regulation S Aankondiging • Apr 02
Winking Studios Limited (Catalist:WKS) completed the acquisition of On Point Creative Co., Ltd from GAME HOURS Inc. (TPEX:6626). Winking Studios Limited (Catalist:WKS) agreed to acquire On Point Creative Co., Ltd from GAME HOURS Inc. (TPEX:6626) for TWD 59.9 million on December 28, 2023. The consideration consists of TWD 59.90 million in cash.Winking Studios Limited (Catalist:WKS) completed the acquisition of On Point Creative Co., Ltd from GAME HOURS Inc. (TPEX:6626) on April 1, 2024. Reported Earnings • Feb 25
Full year 2023 earnings released: EPS: US$0.007 (vs US$0.005 in FY 2022) Full year 2023 results: EPS: US$0.007 (up from US$0.005 in FY 2022). Revenue: US$29.3m (up 20% from FY 2022). Net income: US$1.78m (up 72% from FY 2022). Profit margin: 6.1% (up from 4.2% in FY 2022). The increase in margin was driven by higher revenue. Aankondiging • Nov 18
Winking Studios Limited has completed an IPO in the amount of SGD 8 million. Winking Studios Limited has completed an IPO in the amount of SGD 8 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 27,200,000
Price\Range: SGD 0.2
Discount Per Security: SGD 0.007
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 12,800,000
Price\Range: SGD 0.2
Discount Per Security: SGD 0.007