Nazara Technologies (NAZARA) Investor Update summary

Company history and business evolution

• Founded in the late 1990s, initially focused on online gaming, later pivoted to mobile as device penetration grew.

• Early innovation included a Netflix-style gaming subscription model, expanded to 50+ countries and 150+ operators.

• Adopted a diversified, profitable platform approach, acquiring stakes in companies across gamified learning, esports, and more.

• Built a global brand, with recent acquisitions in the US and UK, and listed in 2021.

• Emphasizes profitable growth, cash flow, and leveraging AI for future expansion.

Business segments and revenue models

• Operates in gaming, esports, and ad tech, with most gaming studios now fully owned.

• Key gaming assets include Kiddopia, Animal Jam, Fusebox, World Cricket Championship, and PokerBaazi.

• Esports led by NODWIN (India’s largest, global top 3) and Sportskeeda (rapid US growth, strong EBITDA).

• Ad tech business Datawrkz is shifting to SaaS, improving margins.

• Revenue models include subscriptions, in-app purchases, advertising, real money gaming, brand partnerships, and event ticketing.

Growth and M&A strategy

• Focuses on acquiring businesses that have completed the initial growth phase, then scaling them rapidly.

• Examples: Kiddopia and Sportskeeda revenues multiplied post-acquisition through business model tweaks and market focus.

• Prioritizes core business performance over anticipated synergies, with recent efforts to drive synergies in user acquisition, data analytics, and AI.

• Sees significant growth potential in both Indian and global markets, with a decentralized management model.