Produces virtual content for visual effects in film, television, games and advertising, and licenses copyrights and digital assets to entertainment production companies.
20-F for FY2025, filed Jan 9, 2026
Customers pay fixed prices for virtual content projects in advance at contract milestones; the finished content is delivered for customer acceptance. Entertainment production companies pay license fees for copyrights and digital assets, which are made available for their use.
20-F for FY2025, filed Jan 9, 2026The Company engages in virtual content production for visual effects in movies, television series, animations, games, advertisements…View ↗
The customer of the virtual content production contract can only obtain control of the produced virtual content after the project is…View ↗
The Company enters into copyright licensing contracts to authorize production rights, adaptation rights, sublicense rights of licensed…View ↗
20-F for FY2025, filed Jan 9, 2026
FY2025 revenue by product or service ↗$55.9M
20-F for FY2025, filed Jan 9, 2026
$55.9M ↗| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Virtual technology service
Sold outright
20-F for FY2025, filed Jan 9, 2026 |
59%
FY2022: 73%
|
Virtual technology service, FY2025
$33.1M Sources
|
Sold outright |
|
Digital asset development and others
Licensed
20-F for FY2025, filed Jan 9, 2026 |
41%
FY2022: 23%
|
Digital asset development and others, FY2025
$22.8M Sources
|
Licensed |
Existing and former customers generate referrals, while the company contacts potential customers through industry summits.
20-F for FY2025, filed Jan 9, 2026
20-F for FY2025, filed Jan 9, 2026
Not on paper. It lost $19.3M in FY2025, but brought in more cash than it spent: $22.1M of free cash flow.
20-F for FY2025, filed Jan 9, 2026
$3MView ↗
20-F for FY2025, filed Jan 9, 2026
−$19.3MView ↗
20-F for FY2025, filed Jan 9, 2026
$22.1MView ↗
Growing. Revenue grew 3.9x in 4 years, from $14.3M in FY2021 to $55.9M in FY2025, about 41% a year.
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