GigaMedia Announces Fourth-Quarter and Full Year 2024 Financial Results [Yahoo! Finance]
GigaMedia Limited - Ordinary Shares (GIGM)
US:NASDAQ Investor Relations:
gigamedia.com
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Source: Yahoo! Finance
Highlights For 2024, GigaMedia reported revenues of $3.0 million , with a gross profit of $1.5 million , an operating loss of $3.7 million and the net loss of $2.3 million The revenues decreased by 30.8% in 2024, mainly as our licensed games experienced slowdown. Meanwhile, we have re-constructed player's ecosystem in our legacy casual games to maintain steady revenue streams and a healthier margin in them. In 2024, we continued rightsizing our workforce and consolidating resources to mitigate the impact of declined revenues. As a result, the operating loss were mildly increased, whereas the net loss was reduced to $2.3 million , compared to a net loss of $3.4 million in 2023. On the balance sheet side, we maintained a solid financial position with a small cash burn rate in 2024, and our cash, cash equivalents and restricted cash amounted to $35.1 million at the end of 2024. In 2024, we have been establishing AI-competence in our product developing settings. We believe achiev
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