Updated Mar 17, 2026 by Nacon
NACON lowered its 2021/22 revenue guidance to €150–180 million due to the strategic delay of four major titles, while setting a higher revenue target of €250–300 million for 2022/23.
First-half revenue for the period ending 30 September 2021 fell 15.7% year-on-year to €73.0 million, with net income declining to €3.8 million from €9.6 million in the prior year.
Cash and cash equivalents decreased from €111.5 million to €57.3 million, primarily driven by aggressive studio acquisitions and rising game development costs.
The company expanded its internal development ecosystem through the total acquisition of Passtech Games, Big Ant Holding, Crea-ture Studios, and Ishtar Games, increasing total goodwill to €73.8 million.
Gaming accessories remained the primary revenue driver at 60% of total sales, with the hardware segment successfully managing global electronic component shortages through proactive procurement.
Financial liabilities include over €26 million in earn-out structures contingent upon the future performance and critical reception of acquired studios.
NACON lowered its 2021/22 revenue guidance to €150–180 million due to the strategic delay of four major titles, while setting a higher revenue target of €250–300 million for 2022/23.
First-half revenue for the period ending 30 September 2021 fell 15.7% year-on-year to €73.0 million, with net income declining to €3.8 million from €9.6 million in the prior year.
Cash and cash equivalents decreased from €111.5 million to €57.3 million, primarily driven by aggressive studio acquisitions and rising game development costs.
The company expanded its internal development ecosystem through the total acquisition of Passtech Games, Big Ant Holding, Crea-ture Studios, and Ishtar Games, increasing total goodwill to €73.8 million.
Gaming accessories remained the primary revenue driver at 60% of total sales, with the hardware segment successfully managing global electronic component shortages through proactive procurement.
Financial liabilities include over €26 million in earn-out structures contingent upon the future performance and critical reception of acquired studios.