Investors Story

It has two main verticals – a games entertainment label and creative partner for indie developers, and a leading developer of educational apps, targeting children under the age of eight.

Team17 Digital is focused on premium, rather than free to play games, and creates and publishes titles for the PC, console, mobile, and tablet gaming markets. Alongside developing the Company’s own games in house (“first party IP”), Team17 Digital also partners with independent developers across the globe to add value to their games in all areas of development and production alongside bringing them to market across multiple platforms for fixed percentage royalties (“third-party IP”).

Since foundation in 1990, Team17 has launched over 100 games, including the iconic Worms, Overcooked and Escapists franchises, as well as Yooka-Laylee, Yoku’s Island Express, My Time at Portia, Hell Let Loose and Blasphemous, making Team17 one of the most prolific developers and partners of games for the indie market.

On 2 July 2021, Team17 Group Plc acquired the business and assets of StoryToys (via the acquisition of its parent company TouchPress Inc.). StoryToys is a world-class developer and publisher of educational entertainment apps for children, and establishes a new highly complementary and fast growing edutainment vertical for Team17, strengthening the enlarged Group’s position as a leading games entertainment business. More information about StoryToys can be found at their website

Team17 was founded in 1990, launched its Games Label in 2014 and listed on the London Stock Exchange’s AIM market in 2018. Team17’s key strengths are:

    Strong games portfolio

  • A growing back catalogue with multiple “evergreen” franchises (Worms, Escapists, Overcooked!)
  • Derisked balance of own IP and growing third-party IP
  • Genre and platform agnostic with nearly 400 digital revenue lines
  • Award-winning

  • Team17 and Worms entered the Golden Joystick Awards 2020 Hall of Fame
  • Numerous industry awards including BAFTA, TIGA, Develop, Game Critics, GameLab, VJMX, Australian Game Awards and The Game Awards
  • Industry recognised leader, Debbie Bestwick, voted AIM entrepreneur of the year 2020
  • A growing pipeline

  • Our greenlight process goes from strength to strength
  • Reviewing and signing more high-quality prospects than ever before whilst ensuring high-quality hurdle
  • Reputation growing around the world (APAC, Europe, USA as well as UK)
  • Savvy and innovative Teamsters

  • Team17 attracts and nurtures the best talent within the gaming sector; drawing interest from all over the world
  • Highly creative and agile teams across Development Studio, Commercial and Support teams
  • A Creative and Entrepreneurial culture

  • Pushing technical innovation with multi player and cross-platform own technology
  • Mix of co-development and publishing only third-party contracts enhance title development and build a valuable IP portfolio
  • Launched own e-commerce site
  • Go-to Creative Partner for Indie Developers

  • We now have partners in 13 different countries around the world
  • Grown our reputation in Asia in 2020 with development and publishing partnerships
  • Long-term partnerships providing full service development and publishing solutions to a global market
  • Sustainable Economics

  • Cautious and dependable financial management approach
  • Highly profitable and scalable with low capital investment (people-based)
  • Highly cash generative

Over 90 percent of the Group’s revenues are generated from digital sales, which facilitates a high level of control over pricing and game lifecycle management, with minimal additional development costs post-launch. Team17 has released over 100 premium games during its history. Due to the Group’s diverse portfolio of owned and third party IP, coupled with its approach to lifecycle management, a substantial portion of revenue has been generated from Back Catalogue sales and a material proportion of new releases are new titles from existing franchises, such as Worms, The Escapists and Overcooked!.


Since launching its premium games label in 2014 and the Company’s IPO in 2018, Team17 has consistently grown year-on-year. In the year to 31 December 2020, the Company posted record results, delivering:

  • Revenue of £83.0m (2019: £61.8m);
  • Gross profit of £39.1m (2019: £29.5m);
  • Adjusted EBITDA of £30.1m (2019: £22.1m);
  • Adjusted EPS of 18.2p (2019: 13.6p);
  • A gross profit margin of 47% (2019: 48%); and
  • A Gross Cash Position of £61.5m (2019: £41.9m)