Streamplay Studio Returns to Cash Flow Positive after Noodlecake Acquisition and New Game Launches

Streamplay Studio (ASX: SP8) has experienced a return to positive operating cash flow following the acquisition and integration of Noodlecake Studios and the continued optimisation of its global footprint.

The company delivered a cash flow positive quarter, posting an operating surplus of approximately $390,000 while investing in new game launches for Noodlecake.

Receipts from customers totalled $1.44 million and the company’s cash reserves remain strong at $7.72 million with no debt against a disciplined operating structure.

Cross-platform release

The quarter kicked off with Streamplay’s first-ever cross-platform release on Nintendo Switch and PC, followed by the global launch of high-profile mobile games Ultimate Chicken Horse and Super Flappy Golf plus a multi-year licensing agreement with Amazon.

Ultimate Chicken Horse surpassed 177,500 downloads in less than in two weeks across android and iOS and Super Flappy Golf, which follows a longer-term commercial model, reached over 83,500 downloads by end June.

Streamplay continues to evaluate new third-party publishing opportunities, including several high-quality titles sourced from inbound submissions and from the Game Developers Conference 2025 held earlier this year in San Francisco.

The company is reviewing all titles for potential inclusion in Noodlecake’s future slate across mobile, PC and console platforms.

Pacific markets

Streamplay continued its commercial engagement across the Pacific, with steady contributions from established markets and renewed focus on preparing the region for future service expansion.

In Papua New Guinea, the company reaffirmed its intent to scale operations and reinvest in the market which continues to generate solid revenues with minimal investment.

Business in American Samoa and Tonga continued steadily, and preparations are underway for an expansion of value-added and SMS services including the introduction of caller ring back tones.

Streamplay has advanced several initiatives to support long-term growth in the Pacific, including readiness for a new billing platform to drive business development and streamline future integrations across new markets and networks.

Regional expansion

Streamplay has made strong progress across cloud gaming initiatives in the Middle East, alongside early expansion into south Asia and the maintenance of service delivery in South Africa with limited investment.

Ongoing business development efforts throughout Middle East and Africa and south Asia are being supported by direct market engagement and regional partnership discussions, reinforcing Streamplay’s belief in the long-term commercial potential of its digital gaming ecosystems across diverse telco environments.

The company is also engaged in commercial discussions with new telcos and market partners to introduce additional products and services, complemented by a staged rollout of direct-to-consumer (B2C) offerings targeting non-telco audiences.

Milestone quarter

Streamplay chair Bert Mondello said the company had experienced a milestone quarter.

“Returning to positive operating cash flow demonstrates that our acquisition and growth strategy is beginning to deliver operational leverage,” he said.

“We have now established a scalable foundation and with Noodlecake’s pipeline building momentum and the regional deployment of key platforms underway, we remain confident in our ability to drive sustainable and capital-efficient growth.”