Nitro Games
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Nitro Games (NITRO) investor relations material

Nitro Games Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 earnings summary16 Feb, 2026

Executive summary

  • Achieved profitability for the second consecutive year in 2025, maintaining a lean cost structure and improved equity position despite a 26% year-over-year revenue decline to €8.5M.

  • Focused on action and shooter games, leveraging long-term partnerships, expanding Nitro Originals and iGaming ventures, and launching new original games and partner projects.

  • Signed a €1.6M development agreement and an expansion agreement with Starbreeze; Pistolo began generating revenue share.

  • Operating cash flow was €1.4M, enabling full repayment of a loan and strengthening the financial position.

  • Promoted two homegrown talents to C-level management, reinforcing internal leadership.

Financial highlights

  • Full-year 2025 revenue was €8.5M (down 26% year-over-year); Q4 revenue was €2.2M.

  • EBITDA for 2025 was €1.6M (down from €2.4M); Q4 EBITDA was €783K (up from €556K).

  • Operating profit (EBIT) for 2025 was €235K; Q4 EBIT was €412K.

  • Net profit for 2025 was €137K; Q4 net profit was €390K.

  • Cash and cash equivalents at year-end were €1.5M, with total equity at €2.6M and total assets at €6.3M.

Outlook and guidance

  • Entering a new strategy period in 2026, aiming for growth through new original games, partner projects, and collaborations.

  • The annual theme for 2025 is "new growth," focusing on Nitro Originals, new partnerships, and further iGaming exploration.

  • Intends to maintain a focus on profitability and cash flow while pursuing growth in 2026.

  • Vision to be recognized for category-leading games across platforms, genres, and audiences.

Leveraging data-driven dev for PC/console
iGaming: What's Nitro's unique value proposition?
Scalable team model's impact on profitability
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Frequently asked questions

Nitro Games Oyj engages in the provision of combat strategy and role playing games. The company develops and publishes games such as Raids of Glory, East India Company, and Commander: Conquest of the Americas. It offers its products through mobile application marketplaces for Apple iOS and Android platforms, Amazon Marketplace for Kindle devices, and Mac App Store for Mac computers under the Nitro Games, Steel Media, and Kahuna branding.

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