Reporting period January – September 2021

  • Revenues (Jan – Sep): 1 404,6 KEUR (1 085,5 KEUR).
  • EBITDA: -2 059,9 KEUR (-1 449,4 KEUR).
  • EBIT: -2 474,5 KEUR (-1 791,9 KEUR).
  • Net result: -2 490,5 KEUR (-1 806,8 KEUR).
  • Earnings per share (EPS) -0,2 (-0,2).
  • Cash and cash equivalents: 3 666,6 KEUR (30 September 2021).

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

July – September 2021

  • Revenues (Jul – Sep): 969,1 KEUR (100,8 KEUR).
  • EBITDA: -512,1 KEUR (-819,5 KEUR).
  • EBIT: -626,1 KEUR (-933,7 KEUR).
  • Net result: -633,7 KEUR (-936,7 KEUR).
  • Earnings per share (EPS) -0,1 (-0,1).

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

Significant events during July – September 2021

  • Signed & started a new project with Snap to develop and bring a new game to the Snapchat platform.
  • Signed approx. 2,2 million EUR development agreement with Digital Extremes for an unannounced project.
  • Signed approx. 600 000 EUR mobile game development agreement with a UK-based PC and console games developer.

Significant Events After period

  • Signed approx. 200 000 EUR expansion to a game development service agreement with a US-based mobile games publisher.

Report highlights

“We’ve continued our solid progress throughout the year, on all fronts of our business. This reflects in the step-by-step increase in revenues, improving EBITDA, increasing the number and value of B2B customers, increasing the number of games in our portfolio, and most importantly, increasing the amount of professional talent in our teams globally.

Overall, the third quarter was a good step forward on all fronts. This is the right direction, but we’re far from satisfied. We seek to continue delivering sequential improvements towards profitability, while we keep executing our long-term strategy towards our vision. I’m looking forward to continuing our journey and delivering shareholder value long-term.” says Jussi Tähtinen, CEO of Nitro Games.

Webcast with Teleconference, Q3 / 2021

Monday 25 October 2021, 09:30 Swedish time.

Details of event:

Activity:Webcast with Teleconference
Teleconference:Dial-in number FI: +358981710520 SE: +46850558358 UK: +443333009265 US: +16467224904

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 October 2021 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


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