DarkIris is a small Hong Kong-based mobile game publisher and developer focused on Chinese-language markets — primarily Hong Kong, Macau, and Taiwan. The company operates two product lines: licensed games, where DarkIris acquires rights from third-party developers, localizes content, and publishes games in its target regions; and self-developed games, built in-house with help from external programmers. Licensed games have historically been the dominant revenue source, though self-developed titles have grown to roughly 45% of revenue in FY25 from essentially nothing in FY23. All revenue comes from in-game purchases under a free-to-play model, where players buy virtual currency to exchange for items like character upgrades or costumes. For licensed titles, DarkIris collects player payments and remits a share to the original developer, retaining between 40% and 85% of gross receipts depending on the contract. App store distribution fees — typically 30% of in-app purchases — are a key cost. The company's cost base is lean, with roughly 20 employees, and it relies on cloud hosting via Tencent Cloud and Xiyou Cloud. DarkIris is pursuing growth through expanding its game portfolio, extending successful game IPs into films and merchandise, geographic expansion into Southeast Asia and Western markets, and taking equity stakes in game developers. The company listed on Nasdaq in August 2025 under the ticker "DKI," raising $6.9M to fund these initiatives.