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Mighty Kingdom Ltd
(Sydney:FTI)
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Rating:51Neutral
Price Target:
AU$0.64
▼(-3.33% Downside)
Action:Reiterated
Date:09/06/26
The score is held down primarily by weak financial performance (ongoing losses and sustained cash burn) and a negative P/E that reflects lack of profitability. These are partially offset by supportive technical momentum, with the price trading above key moving averages and positive MACD.
Positive Factors
Low Leverage
Very low leverage limits interest and refinancing pressure, giving Mighty Kingdom more flexibility than a heavily indebted developer. This balance-sheet cushion can help preserve strategic options and absorb operating volatility while management works to restore profitability.
Negative Factors
Revenue Contraction
A material revenue decline weakens operating leverage because development costs and staffing commitments may not fall as quickly as project activity. Continued volatility makes forward planning harder and could limit investment in proprietary games, hiring, and client delivery capacity.
Read all positive and negative factors
Positive Factors
Negative Factors
Low Leverage
Very low leverage limits interest and refinancing pressure, giving Mighty Kingdom more flexibility than a heavily indebted developer. This balance-sheet cushion can help preserve strategic options and absorb operating volatility while management works to restore profitability.
Read all positive factors
Mighty Kingdom Ltd (FTI) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$220.00M
Dividend YieldN/A
Average Volume (3M)1.01M
Price to Earnings (P/E)―
Beta (1Y)0.72
Revenue Growth-56.48%
EPS Growth-269.38%
CountryAU
Employees126
SectorCommunication Services
Sector Strength97
IndustryElectronic Gaming & Multimedia
Share Statistics
EPS (TTM)-0.04
Shares Outstanding346,461,550
10 Day Avg. Volume1,413,958
30 Day Avg. Volume1,012,207
Financial Highlights & Ratios
PEG Ratio-0.07
Price to Book (P/B)3.11
Price to Sales (P/S)135.26
P/FCF Ratio-129.18
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Mighty Kingdom Ltd Business Overview & Revenue Model
Company Description
Fortifai Limited develops video games in Australia. It develops video games for consoles, PC, and mobile platforms and makes them available for customers through different app stores. The company was formerly known as Mighty Kingdom Limited and ch...
How the Company Makes Money
Mighty Kingdom primarily makes money through fee-for-service game development work, where it is contracted to create, port, or co-develop video game content for external clients (such as publishers or established game studios). Under this model, r...
Mighty Kingdom Ltd Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
68
Positive
Cash Flow
19
Very Negative
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.88M | 4.33M | 5.10M | 6.93M | 4.90M |
| Gross Profit | -7.21M | 3.70M | 4.38M | -9.44M | -10.29M |
| EBITDA | -9.29M | -1.68M | -6.33M | -9.92M | -12.14M |
| Net Income | -8.83M | -1.99M | -6.99M | -9.09M | -10.86M |
Balance Sheet | |||||
| Total Assets | 84.37M | 5.81M | 6.56M | 8.51M | 11.38M |
| Cash, Cash Equivalents and Short-Term Investments | 20.35M | 3.03M | 3.37M | 301.79K | 3.75M |
| Total Debt | 604.27K | 0.00 | 0.00 | 264.94K | 693.24K |
| Total Liabilities | 2.43M | 1.32M | 3.63M | 5.26M | 6.09M |
| Stockholders Equity | 81.94M | 4.50M | 2.93M | 3.25M | 5.29M |
Cash Flow | |||||
| Free Cash Flow | -1.97M | -3.79M | -5.62M | -7.38M | -13.43M |
| Operating Cash Flow | -1.94M | -3.78M | -5.60M | -7.36M | -12.71M |
| Investing Cash Flow | -109.10K | -4.07K | 92.90K | -21.54K | -716.56K |
| Financing Cash Flow | 19.35M | 3.46M | 8.58M | 3.93M | 3.63M |
Mighty Kingdom Ltd Technical Analysis
Negative
0.66
Price Trends
0.69
Negative
0.76
Negative
0.60
Positive
Market Momentum
<0.01
Positive
40.29
Neutral
17.07
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:FTI, the sentiment is Negative. The current price of 0.66 is below the 20-day moving average (MA) of 0.78, below the 50-day MA of 0.69, and above the 200-day MA of 0.60, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 40.29 is Neutral, neither overbought nor oversold. The STOCH value of 17.07 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:FTI.
Mighty Kingdom Ltd Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
59 Neutral | AU$51.06M | 8.94 | 9.78% | ― | 12.69% | ― | |
56 Neutral | AU$79.98M | 36.36 | 2.67% | 8.00% | 39.72% | ― | |
53 Neutral | AU$9.32M | -5.83 | -17.92% | ― | 153.17% | 27.27% | |
51 Neutral | AU$220.00M | -16.54 | -20.44% | ― | -56.48% | -269.38% | |
51 Neutral | AU$7.36M | -1.07 | -40.37% | ― | 7.98% | -54.37% | |
50 Neutral | AU$44.61M | -14.00 | -221.94% | ― | 1720.43% | 25.58% |
* Communication Services Sector Average
AU:FTI
Mighty Kingdom Ltd
0.67
0.50
291.18%
AU:SHO
SportsHero Limited
0.05
0.01
25.64%
AU:SEG
Sports Entertainment Group Limited
0.24
-0.03
-9.77%
AU:SP8
Emerge Gaming Limited
0.01
0.00
0.00%
AU:5GG
Pentanet Ltd
0.02
>-0.01
-34.62%
AU:PLY
Playside Studios Ltd
0.11
-0.09
-45.54%
Mighty Kingdom Ltd Corporate Events
FortifAI’s NOL8 AI Data Plane plugs into Equinix Fabric for enterprise AI data control
Sep 29, 2026
FortifAI’s NOL8 AI Data Plane has been made available on Equinix Fabric, extending its data control technology across Equinix’s Connected Cloud and neutral AI exchange for thousands of enterprises. The move positions NOL8 directly with...
FortifAI Issues New Shares to Support AI-Focused Growth
Sep 11, 2026
FortifAI Limited has issued 1,957,988 fully paid ordinary shares without a prospectus disclosure, relying on provisions of the Corporations Act that allow such placements when continuous disclosure obligations are met. The company affirmed its com...
Fortifai Updates Market on Director Shannon Robinson’s Expanded Equity Incentives
Sep 11, 2026
Fortifai Limited has updated the market on changes to director Shannon Robinson’s indirect interests in the company’s securities, which are held via multiple related entities and a spouse. The disclosure outlines the existing holdings ...
Fortifai Seeks ASX Quotation for 1.5 Million New Shares
Sep 11, 2026
Fortifai Ltd has lodged an application with the ASX for the quotation of 1,500,000 ordinary fully paid shares under its existing ticker FTI. The new securities, issued on 11 September 2026, expand the company’s listed capital base and increa...
Fortifai expands quoted share base with new ASX application
Sep 11, 2026
Fortifai Ltd has lodged a new Appendix 2A application with the ASX for quotation of additional ordinary fully paid shares under code FTI. The filing covers 218,988 new securities issued on 11 September 2026, expanding the company’s quoted sh...
Fortifai Issues Over 6.2 Million Unquoted Performance Rights
Sep 11, 2026
Fortifai Ltd, listed on the ASX under code FTI, has notified the market of new unquoted performance rights being issued as part of its incentive framework. These instruments, which are not intended to be quoted, form part of the company’s br...
Fortifai Issues 42.9 Million Unquoted Performance Rights Under Staff Incentive Plan
Sep 11, 2026
Fortifai Ltd has notified the market of the issue of 42,857,480 unquoted performance rights under its employee incentive scheme, effective 11 September 2026. These performance rights are subject to transfer restrictions and will not be quoted on t...
FortifAI Subsidiary Mighty Kingdom Probes Contained Cyber Incident
Sep 11, 2026
FortifAI Limited has disclosed that its subsidiary Mighty Kingdom Games Pty Ltd is investigating a contained cyber incident affecting part of the system used in game development. The breach is reported to be restricted to gaming code and mini game...
S&P Dow Jones Indices Unveils September Rebalance for Key S&P/ASX Benchmarks
Sep 4, 2026
SP Dow Jones Indices has announced its September 2026 quarterly rebalance of the SP/ASX equity benchmarks, with changes scheduled to take effect before trading opens on September 21. The SP/ASX 20 will remain unchanged, while the SP/ASX 50, 100, 2...
Fortifai Plans New ASX-Quoted Share and Performance Rights Issue
Aug 26, 2026
Fortifai Ltd has notified the ASX of a proposed securities issue comprising a placement and other types of securities, seeking quotation in line with ASX Listing Rules. The company plans to issue up to 218,988 ordinary fully paid shares and 6,208,...
FortifAI Taps Veteran Finance Leader to Steer NOL8 Commercial Launch
Aug 10, 2026
FortifAI has appointed Boris Levin as Vice President of Finance for the FTI Group and its NOL8 business, bringing more than 25 years of finance leadership across SaaS, cybersecurity, and fintech. His mandate is to build the financial and operation...
FortifAI Investors Back Capital Moves and Incentive Plans at General Meeting
Aug 7, 2026
FortifAI shareholders overwhelmingly approved all resolutions put to a general meeting on 7 August 2026, with each motion carried by poll, including ratifications of prior securities issues related to capital raisings and agreements, and the appro...
FortifAI’s NOL8 AI Platform Posts 10X Cost Edge in Global Megaport Tests
Aug 2, 2026
FortifAI Limited has reported successful global testing of its NOL8 V1.0 AI Data Plane over Megaport’s private network, demonstrating near-zero latency agentic AI data workflows across sites in Virginia, Tokyo and Sydney, with byte-identical...
FortifAI boosts Nol8 rollout with new leadership, funding and AI exchange deal
Jul 31, 2026
FortifAI Limited has accelerated its Nol8 strategy in the June quarter, appointing Silicon Valley veteran Kelly Herrell as CEO, expanding its U.S. leadership team, and forming a new Board of Advisors with deep industry and commercial expertise. Th...
FortifAI Restructures Director Keret’s Role as Nol8 Consultant
Jul 31, 2026
FortifAI Limited has shifted Director Yosef Keret’s role within its subsidiary Nol8 to a consulting engagement, while he continues to serve as a director of both entities. In response to this change, the company has withdrawn a resolution fr...
FortifAI adds top global sales executive to Nol8 advisory board ahead of AI Data Plane launch
Jul 27, 2026
FortifAI has strengthened the advisory board of its Nol8 subsidiary with the appointment of Jason Forget, a seasoned enterprise software sales leader who has scaled data infrastructure firms Imperva and Redis from inception to hundreds of millions...
FortifAI Issues 1.4 Million New Shares Under Disclosure Exemption
Jul 8, 2026
FortifAI Limited has issued 1,400,000 fully paid ordinary shares without a prospectus or other disclosure under the capital-raising provisions of the Corporations Act, utilising an exemption that allows such issuance to sophisticated or otherwise ...
Fortifai Seeks ASX Quotation for 1.4 Million New Shares
Jul 8, 2026
Fortifai Ltd has lodged an application with the ASX for quotation of an additional 1,400,000 ordinary fully paid shares under its existing FTI code. The new securities were issued on July 8, 2026, and arise from the exercise or conversion of previ...
FortifAI Calls August Meeting to Ratify Prior Share Issues
Jul 8, 2026
FortifAI Limited has called a shareholder meeting for 11:00 a.m. on 7 August 2026 in Perth to consider ratifying prior share issues made under ASX Listing Rule 7.1. The directors have set 7:00 p.m. Sydney time on 5 August 2026 as the record date f...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.