Nitro Games (NITRO) Q4 2024 earnings summary

Executive summary

• Achieved record financial performance in 2024, with revenue up 29% year-over-year to €11.4M, EBITDA margin at 21.2%, and a net result of €475K, marking a return to profitability after prior year losses.

• Q4 2024 revenue reached €3.05M, with EBITDA of €0.56M and EBIT of €0.12M, reflecting continued growth and operational improvement.

• Expanded game portfolio with Autogun Heroes web launch, announced Autogun Heroes: Supercharged for PC, and collaborated with major brands including Warframe, NERF, Netflix, and secured B2B orders totaling €9.4M.

• Secured €300K in funding from Business Finland to support ongoing development and platform expansion.

• Maintained operational stability and cost control, leveraging a scalable, partner-driven business model.

Financial highlights

• Full-year revenue: €11.4M (2023: €8.8M), EBITDA: €2.41M (2023: -€1.72M), EBIT: €654K (2023: -€3.03M), and net profit: €0.48M (2023: -€3.28M).

• EBITDA margin improved to 21.2% from -19.4% year-over-year; EBIT margin at 5.7% versus -34.2% prior year.

• Cash and cash equivalents stood at €2.02M at year-end 2024.

• Equity ratio improved to 32.5% from 18.9% year-over-year.

• Earnings per share (EPS) for 2024 was €0.02, up from -€0.19 in 2023.

Outlook and guidance

• Focus for 2025 is on growing the game portfolio, expanding existing products, forming new partnerships, and entering new platforms.

• Emphasis on operational efficiency, process improvement, and leveraging global partnerships for profitability.

• No dividend proposed for 2024; profit to be retained for future growth.

• No forward-looking financial guidance provided, but intent to maintain financial stability and pursue new revenue streams.