The interim period January – March 2022

  • Revenue (Jan – Mar): 1 133,3 KEUR (165,9 KEUR).
  • EBITDA: -946,0 KEUR (-911,9 KEUR).
  • EBIT: – 1 139,1 KEUR (-1 080,7 KEUR).
  • Net result: -1 144,4 KEUR (-1 086,2 KEUR).
  • Earnings per share (EPS) -0,1 (-0,1).
  • Cash and cash equivalents: 2 436,2 KEUR (31 March 2022).

(Numbers in brackets refer to the corresponding year-on-year period)

Significant events during January – March 2022

  • Tobias Andersson resigned from the board in January 2022 for personal reasons.
  • Nitro Games signed a development agreement with Supermassive Games for a previously unannounced mobile game.
  • Nitro Games releases Blast Heroes on Snapchat.
  • Nitro Games signs games partnership agreement with a leading social media platform.
  • Nitro Games signs approx. 1 million EUR development service agreement.

Significant events after interim period

  • None.

Report highlights

“We’ve started our year well in line with our goals. We released Blast Heroes on Snapchat and have signed two new B2B project agreements with an order value of approx. 3,8 million EUR, as well as a new games partnership agreement with a leading social media platform. Parallel to these new events, we’ve successfully delivered the agreed milestones on our existing B2B projects as well as prepared upcoming game launches from our game portfolio. The first quarter was action-packed here in Nitro, and we have no intentions of slowing down. “ says Jussi Tähtinen, CEO of Nitro Games.

Webcast with Teleconference, Q1 / 2022

25 April 2022 09:30 (Europe/Stockholm)

Details of event:
Language: English
Activity: Webcast with Teleconference
Teleconference:  Dial-in number FI: +358923195172 SE: +46850558365 UK: +443333009262 US: +16467224903
Questions via email:

For more information:
Jussi Tähtinen, CEO & Co-Founder
Phone: +358 44 388 1071

This company announcement contains information that Nitro Games Oyj is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication by aforementioned contact person on 25 April 2022 at 09:00 (EEST).

Nitro Games in brief:
Nitro Games is a free-to-play mobile game developer and publisher. Nitro Games team is a multinational group of mobile gaming professionals that has the expertise from development to publishing to live-operations. The Company focuses on producing mobile games with high production value for mid-core audience. Nitro Games is specialized in the category of shooter games. With Nitro Games’ powerful NG Platform and the NG MVP process, the Company is able to carry out market validation with its games during development. Nitro Games has developed games based on its own IP such as Lootland, Heroes of Warland, Medals of War, Raids of Glory. The company offers its services also to selected customers and has developed several successful projects to leading mobile gaming companies.

Nitro Games’ shares are listed on Nasdaq First North Growth Market with the ticker NITRO. The Certified Adviser is FNCA Sweden AB,, +468 528 00399. Finnish Business ID: FI21348196


Juha Vainion katu 2
48100 Kotka


Kaisaniemenkatu 2B
5th Floor
00100 Helsinki

Contact us