Reporting period January – December 2021

  • Revenues (Jan – Dec): 2 635,5 KEUR (1 171,3 KEUR).
  • EBITDA: -2 340,2 KEUR (-2 326,6 KEUR).
  • EBIT: -2 868,0 KEUR (- 2 783,2 KEUR).
  • Net result: -2 889,5 KEUR (-2 810,9 KEUR).
  • Earnings per share (EPS) -0,2 (-0,3).
  • Cash and cash equivalents: 3 737,3 KEUR (31 December 2021).

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

October – December 2021

  • Revenues (Oct – Dec): 1 231,0 KEUR (85,8 KEUR).
  • EBITDA: -280,3 KEUR (-877,2 KEUR).
  • EBIT: -393,5 KEUR (-991,4 KEUR).
  • Net result: -399,0 KEUR (-1 004,2 KEUR).
  • Earnings per share (EPS) 0,0 (-0,1).

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

Significant events during October – December 2021

  • Signed approx. 200 000 EUR expansion to a game development service agreement with a US-based mobile games publisher.
  • Signed two new game development agreements with Snap.
  • Announced NERF: Battle Arena and started the soft launch for the game.
  • Egmont Holding Oy (“Nordisk Games”) increased its ownership in Nitro Games by converting the convertible loan into shares.
  • Successfully expanded the project portfolio and has new games in pipeline for 2022.

Significant Events After period

  • Signed approx. 2,8 million agreements with Supermassive Games for an unannounced mobile game.
  • Tobias Andersson left the board of directors in January 2022 for personal reasons.

Report highlights

125% Revenue Growth And Expanded Project Portfolio

“2021 was a good year for Nitro Games. We significantly grew our revenue, diversified and broaden our game portfolio while we invested heavily into our games to be launched in 2022. This gives us a good position to continue forward to 2022 with several exciting events on our roadmap. says Jussi Tähtinen, CEO of Nitro Games.

Webcast with Teleconference, Q4 / 2021

14 February 2022 09:30 (Europe/Stockholm)

Details of event:

Activity:Webcast with Teleconference

Dial-in number FI: +358981710522 SE: +46850558350 UK: +443333009030 US: +16467224904

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 14 February 2022 at 09:00 (EET).

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