Updated Mar 17, 2026 by Don’t Nod Entertainment
DON’T NOD secured a €50 million capital increase, including a €30 million investment from Tencent, to fund expansion into mobile gaming and the Asian market.
The company ended H1 2021 with a strong liquidity position of €62.9 million in cash and €89.1 million in shareholders' equity to support a pipeline of seven projects through 2025.
Operating revenues grew 19% to €12.8 million, driven by a tripling of royalty revenues to €2.7 million and a doubling of capitalized production to €7.8 million.
The studio is executing a strategic shift away from work-for-hire arrangements toward self-publishing and owning intellectual property, supported by the launch of a third-party publishing wing.
Operating EBITDA nearly doubled to €3.35 million, though net income was limited to €355,000 due to increased depreciation and amortization of assets.
The studio expanded its international footprint by opening a Montreal subsidiary and transitioned its 245 employees to a permanent flexible teleworking model.
DON’T NOD secured a €50 million capital increase, including a €30 million investment from Tencent, to fund expansion into mobile gaming and the Asian market.
The company ended H1 2021 with a strong liquidity position of €62.9 million in cash and €89.1 million in shareholders' equity to support a pipeline of seven projects through 2025.
Operating revenues grew 19% to €12.8 million, driven by a tripling of royalty revenues to €2.7 million and a doubling of capitalized production to €7.8 million.
The studio is executing a strategic shift away from work-for-hire arrangements toward self-publishing and owning intellectual property, supported by the launch of a third-party publishing wing.
Operating EBITDA nearly doubled to €3.35 million, though net income was limited to €355,000 due to increased depreciation and amortization of assets.
The studio expanded its international footprint by opening a Montreal subsidiary and transitioned its 245 employees to a permanent flexible teleworking model.