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CTW

CTW Cayman Class A Ordinary Shares

CTW

CTW Cayman Class A Ordinary Shares • NASDAQ
$2.18 ▼ -3.11% (-0.07)
Market Cap $136.03 M
52w High $4.88
52w Low $1.71
Dividend Yield 0%
P/E 36.33
Volume 30.64K
Outstanding Shares 62.40M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q4-2024 $41.214M ▲ $30.513M ▲ $638.785K ▼ 1.55% ▼ $0.01 ▼ $2.321M ▼
Q2-2024 $34.98M ▲ $25.071M ▲ $2.006M ▼ 5.736% ▼ $0.032 ▼ $3.411M ▼
Q4-2023 $33.444M ▼ $19.921M ▼ $3.971M ▼ 11.874% ▼ $0.064 ▲ $6.938M ▼
Q4-2019 $2.012B ▼ $1.386B ▲ $386M ▼ 19.185% ▼ $0 $964M ▼
Q3-2019 $2.039B $1.291B $477M 23.394% $0 $1.082B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q4-2024 $14.461M $43.943M $20.103M $23.839M
Q2-2024 $14.461M ▲ $43.943M ▼ $20.103M ▼ $23.839M ▼
Q4-2019 $2M ▼ $20.327B ▼ $20.999B ▲ $10.117B ▼
Q3-2019 $3M ▼ $20.83B ▲ $10.621B ▲ $10.209B ▲
Q2-2019 $7M $20.743B $10.611B $10.132B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q4-2024 $638.785K ▼ $2.585M ▲ $-678.657K ▲ $-639.872K ▼ $607.728K ▼ $2.396M ▲
Q2-2024 $2.006M ▼ $34.292K ▼ $-715.061K ▼ $0 $14.594M ▲ $-170.21K ▼
Q4-2023 $3.971M ▼ $1.553M ▼ $-458.669K ▲ $0 ▲ $0 ▲ $1.047M ▼
Q4-2019 $386M ▼ $1.015B ▲ $-514M ▼ $-502M ▼ $-1M ▲ $1.017B ▲
Q3-2019 $477M $812M $-412M $-404M $-4M $552M

Revenue by Products

Product Q1-2013
Affiliates and Other Services
Affiliates and Other Services
 $510.00M ▲
Legacy Services
Legacy Services
 $820.00M ▲
Strategic Services
Strategic Services
 $830.00M ▲

Five-Year Company Overview

Income Statement

Income Statement CTW’s income statement shows a young but already profitable business with modest, steadily rising revenue and solid margins for its size. Profitability has improved from roughly breakeven to clearly positive, helped by tight cost control and successful game launches. The 2025 results point to much faster top-line growth driven by new titles, but earnings are still closely tied to a relatively small number of hit games, which keeps results somewhat fragile and dependent on the success of each release.

Balance Sheet

Balance Sheet The balance sheet looks light and relatively conservative. Assets and equity are fairly small but stable, with a simple structure and no meaningful financial debt by the latest period, which reduces balance-sheet risk. Cash levels appear adequate for the current scale, but the company does not yet have the depth of resources of larger global gaming peers, so it likely remains sensitive to any large investment needs or unexpected downturns.

Cash Flow

Cash Flow Cash flow is still in the “prove it” stage. Operating and free cash flow hover around breakeven, suggesting that reported profits have not yet translated into a long track record of strong cash generation. On the positive side, the browser-based model keeps capital spending low, but the limited history means investors must watch whether growing revenue and profit can consistently convert into cash in the coming years.

Competitive Edge

Competitive Edge CTW occupies a clear niche in anime-focused, browser-based games and benefits from exclusive or hard-to-replicate relationships with many well-known Japanese animation studios. Its instant-play HTML5 platform and full-service offering to developers (IP access, distribution, and marketing) create switching costs and barriers to entry. However, the company operates in a hit-driven, highly competitive global gaming market, competes with mobile app stores and other platforms, and relies heavily on licensed intellectual property, which can be both expensive and strategically sensitive.

Innovation and R&D

Innovation and R&D Innovation centers on CTW’s HTML5 “instant play” technology and its ecosystem built around anime intellectual property. The company is investing in AI to personalize user experiences, optimize marketing, and potentially streamline game development, which could deepen engagement and improve efficiency. A sizable pipeline of new games based on recognizable anime brands supports future growth, but also raises execution risk around licensing, development quality, and whether players will embrace so many new titles.

Summary

CTW is an emerging, niche gaming platform with a focused strategy around anime-based, instant-play browser games and a growing global footprint. Financially, it has moved from small-scale, stable operations to more rapid growth with positive profitability, supported by a clean, low-debt balance sheet but still-limited cash flow history. Its strongest assets are its IP partnerships, specialized platform, and developer ecosystem, while its main vulnerabilities lie in the hit-driven nature of gaming, reliance on third-party IP, and the need to prove that recent strong growth can be sustained over time as it expands beyond its home market.

NEWS

November 17, 2025 · 4:30 PM UTC

CTW Announces Fiscal Year 2025 Financial Results

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November 10, 2025 · 7:00 AM UTC

CTW to Announce Fiscal Year 2025 Financial Results on November 17 and Host Earnings Webcast on November 18

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October 13, 2025 · 7:30 AM UTC

CTW to Participate in Planet MicroCap Showcase Conference in Toronto

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