Nitro Games (NITRO) Q2 2025 earnings summary

Executive summary

• Revenue for January–June 2025 was €4.1M, down 29% year-over-year; Q2 revenue was €1.7M, down 47% year-over-year.

• EBITDA for H1 2025 was €319K, a significant decrease from €1.1M in H1 2024; Q2 EBITDA was -€97K.

• EBIT for H1 2025 was -€350K, down from €225K in H1 2024; Q2 EBIT was -€437K.

• The period marked a transition, with the company ending some collaborations and initiating new partnerships, not yet reflected in financials.

• CEO expresses optimism for the future, citing a refreshed project portfolio and new opportunities.

Financial highlights

• Cash and cash equivalents at period end: €1.3M, improved compared to Q1.

• EPS for the half-year was -0.02, compared to 0.01 year-over-year.

• Gross margin for H1 2025 was €2.25M, down from €3.85M year-over-year.

• Debt fully repaid, supporting a stronger balance sheet.

• Focus remained on protecting cash and long-term profitability during the transition.

Outlook and guidance

• Management expects improved performance as new projects and partnerships mature, with more visible financial results in H2.

• Focus remains on expanding the game portfolio, operational efficiency, and financial stability.

• New partnerships and games in development are expected to drive future growth.

• The company is focusing on scaling operations and growing new revenue streams.

• CEO anticipates a stronger second half as new initiatives begin to impact results.