Independent games developer hails “strong start to the year” as profits rise while revenues slide

everplay group, formerly Team17, an independent games developer, has hailed “a strong start to the year,” as profits rose while revenues slid.

According to unaudited results for the six months ended 30 June 2025 (H1 2025), group revenues fell 10% to £72.4 million. The business shared that this was a result of the timing of license revenues and new title launches at the astragon division, as well as declines in physically distributed sales and a “very strong” prior year back catalogue performance.

Profit before tax, meanwhile, grew to £14.3m, up from £12.4m in the same period last year.

Four new games launched during the period (in comparison to nine in the same period last year) with four existing games released on additional platforms (H1 2024: four). Revenues from new releases increased 40% in the period.

Three acquisitions of IP and back catalogue publishing rights were completed, at a total cost of less than £8 million, adding additional revenue streams.

Frank Sagnier, interim executive chair of everplay, said: “It has been a strong start to the year. The improved performance of our new releases shows the progress we have made continually enhancing our internal procedures, such as our greenlight process, the quality of our production, and our marketing approach.

“I am delighted by the strategic progress we have made across the business, with the Group already benefitting from new revenue streams from our recent IP and back catalogue acquisitions.

“I would like to thank our people across the Group, led by teams that are truly focused on making great games and apps for our players. Since spending more time in the business in my role as Interim Executive Chair, I have been overwhelmed by the teams’ creativity, skills and knowledge.

“Looking ahead, we have a busy second half to deliver, but the team remains laser-focused on performance and delivering on our strategic priorities to ensure continued long-term growth for the Group and our shareholders.”