Exhibit 99.1
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FOR IMMEDIATE RELEASE |
For further information contact: |
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Investor Relations Department Country/City Code 8862 Tel: 2656-8000 IR@gigamedia.com.tw |
GigaMedia Announces Fourth-Quarter and Full Year 2025 Financial Results
TAIPEI, Taiwan, March 26, 2026 – GigaMedia Limited (NASDAQ: GIGM) today announced its unaudited financial results for the fourth quarter and full year of 2025.
Highlights
For 2025, GigaMedia reported revenues of $3.5 million, with a gross profit of $1.8 million, an operating loss of $3.6 million and the net loss of $1.5 million.
The revenues increased by 17.0% in 2025, and the gross profit increased by 23.5%, mainly due to our efforts in promoting players’ participation. In 2025, we continued rightsizing our workforce and consolidating resources in an inflationary environment. As a result, the operating loss were slightly decreased, while the net loss was reduced to $1.5 million, compared to a net loss of $2.3 million in 2024.
On the balance sheet side, we maintained a solid financial position with a small cash burn rate in 2025, and our cash, cash equivalents and restricted cash amounted to $29.1 million at the end of 2025.
In 2025, we have been revitalizing our licensed games and enhancing our product developing sophistication for further expanding our product and service offerings. We believe in-house developing capability is very essential in boosting our productivity and accelerating the growth of our business.
Fourth Quarter and Full Year Overview
•Consolidated 4Q revenues decreased by 9.3% quarter-on-quarter mainly due to seasonality, while increased by 10.1% year-over-year due to our efforts in promoting players’ participation. Full year revenues increased by 17.0% to $3.5 million from $3.0 million in 2024.
•Loss from operations for 4Q was $0.7 million, representing a loss reduction from $1.0 million in the third quarter of 2025, as we managed to reduce the operating costs and expenses. Full year operating loss was $3.6 million, slightly reduced from $3.7 million in 2024.
•The net asset value was approximately $3.49 per share as of the end of 2025.
Unaudited Consolidated Financial Results
GigaMedia Limited is a diversified provider of digital entertainment services. GigaMedia’s digital entertainment service business FunTown develops and operates a suite of digital entertainments in Taiwan and Hong Kong, with focus on mobile games and casual games.
Unaudited consolidated results of GigaMedia are summarized in the table below.
For the Full Year 2025
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GIGAMEDIA FY25 UNAUDITED CONSOLIDATED FINANCIAL RESULTS |
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(unaudited, all figures in US$ thousands, except per share amounts) |
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FY25 |
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FY24 |
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|
Change
(%) |
|
Revenues |
|
|
3,474 |
|
|
|
2,969 |
|
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|
17.0 |
% |
Gross Profit |
|
|
1,821 |
|
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|
1,475 |
|
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23.5 |
% |
Loss from Operations |
|
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(3,602 |
) |
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(3,701 |
) |
|
NM |
|
Net Loss Attributable to GigaMedia |
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(1,514 |
) |
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(2,296 |
) |
|
NM |
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Net Loss Per Share Attributable to GigaMedia, Diluted |
|
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(0.14 |
) |
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(0.21 |
) |
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NM |
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EBITDA (A) |
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(3,130 |
) |
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(4,201 |
) |
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NM |
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Cash, Cash Equivalents and Restricted Cash |
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29,053 |
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35,094 |
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-17.2 |
% |
NM= Not Meaningful
(A)EBITDA (earnings before interest, taxes, depreciation, and amortization) is provided as a supplement to results provided in accordance with U.S. generally accepted accounting principles ("GAAP"). (See, "Use of Non-GAAP Measures," for more details.)
•Consolidated revenues for the year ended December 31, 2025 was $3.5 million, increased from $3.0 million in the prior year. The decrease was mainly due to our efforts in promoting players’ participation.
•Consolidated loss from operations for 2025 was $3.6 million, comparable to a loss of $3.7 million in the last year.
•Consolidated net loss for 2025 was $1.5 million, decreased from $2.3 million in the prior year. Loss per share for 2025 was $0.14 per share, compared to $0.21 last year.
•Cash, cash equivalents and restricted cash at the year end of 2025 amounted to $29.1 million.
For the Fourth Quarter
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GIGAMEDIA 4Q25 UNAUDITED CONSOLIDATED FINANCIAL RESULTS |
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(unaudited, all figures in US$ thousands, except per share amounts) |
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4Q25 |
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3Q25 |
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Change
(%) |
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4Q25 |
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4Q24 |
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Change
(%) |
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Revenues |
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831 |
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|
916 |
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-9.3 |
% |
|
|
831 |
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755 |
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10.1 |
% |
Gross Profit |
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426 |
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|
458 |
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-7.0 |
% |
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426 |
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398 |
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7.0 |
% |
Loss from Operations |
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(716 |
) |
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(998 |
) |
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NM |
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(716 |
) |
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(531 |
) |
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NM |
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Net Loss Attributable to GigaMedia |
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(710 |
) |
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(971 |
) |
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NM |
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(710 |
) |
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(462 |
) |
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NM |
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Net Loss Per Share Attributable to GigaMedia, Diluted |
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(0.06 |
) |
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(0.09 |
) |
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NM |
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(0.06 |
) |
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(0.04 |
) |
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NM |
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EBITDA (A) |
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(1,098 |
) |
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(1,371 |
) |
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NM |
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(1,098 |
) |
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(918 |
) |
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NM |
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Cash, Cash Equivalents and Restricted Cash |
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29,053 |
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29,386 |
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-1.1 |
% |
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29,053 |
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35,094 |
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-17.2 |
% |
NM= Not Meaningful
(A)EBITDA (earnings before interest, taxes, depreciation, and amortization) is provided as a supplement to results provided in accordance with U.S. generally accepted accounting principles ("GAAP"). (See, "Use of Non-GAAP Measures," for more details.)
Fourth-Quarter Financial Results
•Consolidated revenues for the fourth quarter of 2025 decreased by 9.3% quarter-on-quarter mainly due to seasonality, while increased by 10.1% year-over-year mainly due to our efforts in promoting players' participation.
•Consolidated loss from operations of the fourth quarter of 2025 was $0.7 million, compare to a loss of $1.0 million in the last quarter, mainly due to reduced operating expenses.
•Consolidated net loss of the fourth quarter of 2025 was $0.7 million, decreased from a net loss of $1.0 million in the last quarter.
•Cash, cash equivalents and restricted cash at the end of the fourth quarter of 2025 amounted to $29.1 million, slightly decreased from the prior quarter.
Financial Position
GigaMedia maintained its solid financial position. Cash, cash equivalents and restricted cash amounted to $29.1 million, or approximately $2.63 per share, along with zero bank loan. Our shareholders’ equity was approximately $38.5 million of as of December 31, 2025.
Business Outlook
The following forward-looking statements reflect GigaMedia’s expectations as of March 26, 2026. Given potential changes in economic conditions and consumer spending, the evolving nature of digital entertainments, and various other risk factors, including those discussed in the Company’s 2024 Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission as referenced below, actual results may differ materially.
“In the following quarters, we will be dedicated to improving our in-house offerings as well as maintaining satisfactory working relationships with our licensors,” said GigaMedia CEO James Huang. “It is very critical to our steady growth and long-term profitability for future years.”
Meanwhile, besides our investments in Aeolus Robotics, our management continues evaluating and pursuing prospects of strategic investment target that are with potential to expand our business and create greater shareholder value.
Use of Non-GAAP Measures
To supplement GigaMedia’s consolidated financial statements presented in accordance with U.S. GAAP, the Company uses the following measure defined as non-GAAP by the SEC: EBITDA. Management believes that EBITDA (earnings before interest, taxes, depreciation, and amortization) is a useful supplemental measure of performance because it excludes certain non-cash items such as depreciation and amortization and that EBITDA is a measure of performance used by some investors, equity analysts and others to make informed investment decisions. EBITDA is not a recognized earnings measure under GAAP and does not have a standardized meaning. Non-GAAP measures such as EBITDA should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, other financial measures prepared in accordance with GAAP. A limitation of using EBITDA is that it does not include all items that impact the Company’s net income for the period. Reconciliations to the
GAAP equivalents of the non-GAAP financial measures are provided on the attached unaudited financial statements.
About the Numbers in This Release
Unaudited results
All quarterly and certain annual results referred to in the text, tables and attachments to this release are unaudited. The financial statements from which the financial results reported in this press release are derived have been prepared in accordance with U.S. GAAP, unless otherwise noted as "non-GAAP," and are presented in U.S. dollars.
Q&A
For Q&A regarding the fourth quarter and full year 2025 performance upon the release, investors may send the questions via email to IR@gigamedia.com.tw and the responses will be replied individually.
About GigaMedia
Headquartered in Taipei, Taiwan, GigaMedia Limited (Singapore registration number: 199905474H) is a diversified provider of digital entertainment services in Taiwan and Hong Kong. GigaMedia’s digital entertainment service business is an innovative leader in Asia with growing capabilities of development, distribution and operation of digital entertainments, as well as platform services for games with a focus on mobile games and casual games. More information on GigaMedia can be obtained from www.gigamedia.com.tw.
The statements included above and elsewhere in this press release that are not historical in nature are "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements regarding expected financial performance (as described without limitation in the "Business Outlook" section and in quotations from management in this press release) and GigaMedia’s strategic and operational plans. These statements are based on management’s current expectations and are subject to risks and uncertainties and changes in circumstances. There are important factors that could cause actual results to differ materially from those anticipated in the forward looking statements, including but not limited to, our ability to license, develop or acquire additional digital entertainment products or services that are appealing to users, our ability to retain existing users and attract new users, and our ability to launch digital entertainment products and services in a timely manner and pursuant to our anticipated schedule. Further information on risks or other factors that could cause results to differ is detailed in GigaMedia’s Annual Report on Form 20-F filed in April 2025 and its other filings with the United States Securities and Exchange Commission.
# # #
(Tables to follow)
GIGAMEDIA LIMITED
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands of US dollars, except for earnings per share amounts)
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Three months ended |
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Twelve months ended |
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2025/12/31 |
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2025/9/30 |
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2024/12/31 |
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2025/12/31 |
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2024/12/31 |
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unaudited |
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unaudited |
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unaudited |
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unaudited |
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audited |
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Operating revenues |
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Digital entertainment service revenues |
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831 |
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916 |
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|
755 |
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3,474 |
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2,969 |
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831 |
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916 |
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|
755 |
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3,474 |
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2,969 |
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Operating costs |
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Cost of digital entertainment service revenues |
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405 |
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458 |
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357 |
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1,653 |
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1,494 |
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|
405 |
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|
458 |
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|
357 |
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1,653 |
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1,494 |
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Gross profit |
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426 |
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458 |
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398 |
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1,821 |
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1,475 |
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Operating expenses |
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Product development and engineering expenses |
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145 |
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166 |
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|
164 |
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663 |
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|
694 |
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Selling and marketing expenses |
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506 |
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413 |
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351 |
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1,673 |
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1,451 |
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General and administrative expenses and others |
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|
491 |
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|
878 |
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|
414 |
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|
3,086 |
|
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|
3,030 |
|
Provision for expected credit losses |
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|
— |
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|
(1 |
) |
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— |
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|
|
1 |
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|
|
1 |
|
|
|
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1,142 |
|
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|
1,456 |
|
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|
929 |
|
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|
5,423 |
|
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|
5,176 |
|
Loss from operations |
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(716 |
) |
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(998 |
) |
|
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(531 |
) |
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(3,602 |
) |
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(3,701 |
) |
Non-operating income (expense) |
|
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|
|
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|
|
|
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Interest income |
|
|
404 |
|
|
|
420 |
|
|
|
471 |
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|
1,683 |
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|
|
1,964 |
|
Foreign exchange gain (loss) - net |
|
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(414 |
) |
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(381 |
) |
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(246 |
) |
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|
402 |
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(427 |
) |
Gain on disposal of investments |
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— |
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— |
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— |
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— |
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— |
|
Changes in the fair value of investment in equity securities recognized at fair value |
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2 |
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|
2 |
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(167 |
) |
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(2 |
) |
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(161 |
) |
Other - net |
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|
14 |
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(14 |
) |
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|
11 |
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|
5 |
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|
29 |
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|
|
|
6 |
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|
27 |
|
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|
69 |
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|
2,088 |
|
|
|
1,405 |
|
Loss before income taxes |
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(710 |
) |
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(971 |
) |
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(462 |
) |
|
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(1,514 |
) |
|
|
(2,296 |
) |
Income tax expense |
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|
— |
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— |
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— |
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— |
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— |
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Net loss attributable to shareholders of GigaMedia |
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(710 |
) |
|
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(971 |
) |
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(462 |
) |
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(1,514 |
) |
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(2,296 |
) |
Loss per share attributable to GigaMedia |
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Basic: |
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(0.06 |
) |
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(0.09 |
) |
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(0.04 |
) |
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(0.14 |
) |
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(0.21 |
) |
Diluted: |
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(0.06 |
) |
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(0.09 |
) |
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(0.04 |
) |
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(0.14 |
) |
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(0.21 |
) |
Weighted average shares outstanding: |
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Basic: |
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11,052 |
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11,052 |
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11,052 |
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11,052 |
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|
11,052 |
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Diluted: |
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11,052 |
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|
11,052 |
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|
11,052 |
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|
11,052 |
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|
11,052 |
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GIGAMEDIA LIMITED
CONSOLIDATED BALANCE SHEETS
(in thousands of US dollars)
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2025/12/31 |
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2025/9/30 |
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2024/12/31 |
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unaudited |
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|
unaudited |
|
|
audited |
|
Assets |
|
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Current assets |
|
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Cash and cash equivalents |
|
|
28,740 |
|
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|
29,073 |
|
|
|
34,781 |
|
Marketable securities - current |
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|
4,608 |
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|
|
— |
|
|
|
— |
|
Accounts receivable - net |
|
|
108 |
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|
140 |
|
|
|
141 |
|
Prepaid expenses |
|
|
103 |
|
|
|
148 |
|
|
|
69 |
|
Restricted cash |
|
|
313 |
|
|
|
313 |
|
|
|
313 |
|
Other receivables |
|
|
671 |
|
|
|
241 |
|
|
|
2 |
|
Other current assets |
|
|
139 |
|
|
|
142 |
|
|
|
127 |
|
Total current assets |
|
|
34,682 |
|
|
|
30,057 |
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|
|
35,433 |
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|
Marketable securities - noncurrent |
|
|
5,038 |
|
|
|
9,620 |
|
|
|
5,441 |
|
Property, plant & equipment - net |
|
|
93 |
|
|
|
97 |
|
|
|
101 |
|
Intangible assets - net |
|
|
4 |
|
|
|
2 |
|
|
|
7 |
|
Prepaid licensing and royalty fees |
|
|
25 |
|
|
|
56 |
|
|
|
147 |
|
Other assets |
|
|
757 |
|
|
|
1,401 |
|
|
|
1,229 |
|
Total assets |
|
|
40,599 |
|
|
|
41,233 |
|
|
|
42,358 |
|
|
|
|
|
|
|
|
|
|
|
Liabilities and equity |
|
|
|
|
|
|
|
|
|
Accounts payable |
|
|
56 |
|
|
|
44 |
|
|
|
38 |
|
Accrued compensation |
|
|
387 |
|
|
|
419 |
|
|
|
174 |
|
Accrued expenses |
|
|
723 |
|
|
|
873 |
|
|
|
571 |
|
Unearned revenue |
|
|
558 |
|
|
|
570 |
|
|
|
578 |
|
Other current liabilities |
|
|
186 |
|
|
|
323 |
|
|
|
570 |
|
Total current liabilities |
|
|
1,910 |
|
|
|
2,229 |
|
|
|
1,931 |
|
Other liabilities |
|
|
167 |
|
|
|
182 |
|
|
|
84 |
|
Total liabilities |
|
|
2,077 |
|
|
|
2,411 |
|
|
|
2,015 |
|
Total equity |
|
|
38,522 |
|
|
|
38,822 |
|
|
|
40,343 |
|
Total liabilities and equity |
|
|
40,599 |
|
|
|
41,233 |
|
|
|
42,358 |
|
GIGAMEDIA LIMITED
RECONCILIATIONS OF NON-GAAP RESULTS OF OPERATIONS
(in thousands of US dollars)
|
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|
|
|
|
|
|
|
|
|
|
|
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|
|
Three months ended |
|
|
Twelve months ended |
|
|
|
2025/12/31 |
|
|
2025/9/30 |
|
|
2024/12/31 |
|
|
2025/12/31 |
|
|
2024/12/31 |
|
|
|
unaudited |
|
|
unaudited |
|
|
unaudited |
|
|
unaudited |
|
|
unaudited |
|
Reconciliation of Net Income (Loss) to EBITDA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss attributable to GigaMedia |
|
|
(710 |
) |
|
|
(971 |
) |
|
|
(462 |
) |
|
|
(1,514 |
) |
|
|
(2,296 |
) |
Depreciation |
|
|
14 |
|
|
|
18 |
|
|
|
13 |
|
|
|
58 |
|
|
|
49 |
|
Amortization |
|
|
2 |
|
|
|
2 |
|
|
|
2 |
|
|
|
9 |
|
|
|
10 |
|
Interest income |
|
|
(404 |
) |
|
|
(420 |
) |
|
|
(471 |
) |
|
|
(1,683 |
) |
|
|
(1,964 |
) |
Interest expense |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Income tax expense |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
EBITDA |
|
|
(1,098 |
) |
|
|
(1,371 |
) |
|
|
(918 |
) |
|
|
(3,130 |
) |
|
|
(4,201 |
) |
