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Unaudited Interim Condensed Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating activities    
Profit for the period, net of tax $ 13,273 $ 11,343
Adjustments for:    
Depreciation and amortization 2,942 2,903
Share-based payments expense 390 1,044
Income from share and put option forfeiture and cancellation (3,964) (159)
Share of loss of equity-accounted associates   515
Impairment loss on trade and loan receivables and change in fair value of loans receivable 2,073 4,296
Change in fair value of share warrant obligations and other financial instruments (265) (10,547)
Change in fair value of other investments 1,002 (564)
Unwinding of discount on the put option liability 129 204
Trade and loan receivables write-off 41 50
Interest income (1,059) (2,009)
Interest expense 40 22
Dividend income (662) (469)
Foreign exchange loss 2,582 1,595
Income tax expense 1,864 1,074
Total cash flows from operations before changes in working capital 18,386 9,298
Changes in working capital:    
Decrease in deferred platform commissions 853 11,485
Increase/(decrease) in deferred revenue 3,454 (20,366)
(Increase)/decrease in trade and other receivables (1,029) 2,393
Decrease in trade and other payables (8,321) (2,631)
Cash flows from (used in) operations (5,043) (9,119)
Income tax paid (1,647) (265)
Net cash flows generated from/(used in) operating activities 11,696 (86)
Investing activities    
Acquisition of intangible assets   (20)
Acquisition of property and equipment (138) (211)
Acquisition of right-of-use assets (11) (169)
Investments in equity accounted associates   (515)
Loans granted (2,569) (447)
Proceeds from repayment of loans 164 470
Acquisition of other investments (62,614) (53,640)
Proceeds from redemption of investments 75,166 35,546
Interest received 66 169
Dividends received 662 469
Net cash flows generated from/(used in) investing activities 10,726 (18,348)
Financing activities    
Payments of lease liabilities (399) (765)
Interest on lease (40) (22)
Buy-back of the shares resulted from Tender offer (33,109)  
Payments from exercise of put option liability of Cubic Games Studio Ltd's previous shareholders (10,160)  
Net cash flows used in financing activities (43,708) (787)
Net decrease in cash for the period (21,286) (19,221)
Cash at the beginning of the period 71,798 86,774
Effect of changes in exchange rates on cash held 240 1,028
Cash at the end of the period $ 50,752 $ 68,581