Nitro Games (NITRO) Q2 2026 earnings summary

Executive summary

• Focus shifted to profitability and controlled investments, emphasizing long-term value and new growth initiatives, including Project Frag and Warhammer 40,000: Boltgun for mobile.

• Revenue declined year-over-year due to reduced partner projects, but profitability reached record levels, supported by a one-off government loan forgiveness and disciplined cost control.

• Continued to improve the balance sheet by reducing debt and maintaining a strong cash position.

• Strengthened partnerships and signed new agreements with European developers and publishers, including a €2.1M development agreement post-period.

Financial highlights

• Q2 2026 revenue: €1,028K (down 39.6% YoY); H1 2026 revenue: €2,527K (down 38.9% YoY).

• Q2 2026 EBITDA: €1,312K (vs. -€97K YoY); H1 2026 EBITDA: €1,743K (vs. €319K YoY), both including a €1,613K one-off loan forgiveness gain.

• Q2 2026 EBIT: €969K (vs. -€437K YoY); H1 2026 EBIT: €1,071K (vs. -€350K YoY).

• Q2 2026 net profit: €982K (vs. -€460K YoY); H1 2026 net profit: €1,059K (vs. -€401K YoY).

• Cash and cash equivalents at June 30, 2026: €1,888K (vs. €1,302K YoY).

Outlook and guidance

• Continued disciplined investment in new games and partnerships, with a strong cash position supporting future growth.

• Ongoing development of multiple new projects across PC, mobile, and iGaming platforms.

• Revenue expected to remain subdued in the near term as profitability and long-term value creation are prioritized.

• Expect further announcements in both original and partner projects during the year.

• Continued emphasis on profitability, cash flow, and equity management.