Nitro Games Oyj Interim Report: January-September 2025

Key insights

6 takeaways

01
Nitro Games reported a nine-month revenue of 6,254 thousand euros for 2025, a significant decline from the 8,345 thousand euros recorded during the same period in 2024.See it on page 2
02
The company achieved a Q3 2025 turnaround, posting a net profit of 149.3 thousand euros and an EBIT of 173 thousand euros following a year-to-date net loss of 252.4 thousand euros.See it on page 13
03
Financial recovery in the third quarter was driven by internal team optimization and rigorous cost management strategies designed to create a leaner operational structure.See it on page 6
04
Strategic growth efforts are currently focused on key development partnerships with industry entities Starbreeze and VOID Interactive.See it on page 3
05
As of September 30, 2025, the company has 24,924,364 shares outstanding, with Försäkringsaktiebolaget Avanza Pension serving as the largest shareholder at 15.88 percent.See it on page 9
06
The company continues to operate from its offices in Kotka and Helsinki while leveraging external collaborations to navigate a competitive market.See it on page 19

Summary

Nitro Games Oyj experienced a challenging financial period during the first nine months of 2025, characterized by a year-on-year revenue contraction. Total revenue for the nine-month duration reached 6,254 thousand euros, a notable decrease from the 8,345 thousand euros recorded during the same timeframe in 2024. This decline affected both the core games development and service business segments, ultimately resulting in a net loss of 252.4 thousand euros for the year-to-date period.

Despite these broader financial pressures, the company demonstrated operational resilience by returning to profitability in the third quarter of 2025. This turnaround, marked by an EBIT of 173 thousand euros and a net profit of 149.3 thousand euros for the quarter, was driven by rigorous cost management strategies and internal team optimization. These efforts to establish a leaner operational structure are intended to stabilize the firm’s financial position while it continues to pursue strategic growth.

Looking forward, the company is prioritizing the advancement of key development partnerships with industry entities such as Starbreeze and VOID Interactive. As of September 30, 2025, the firm maintains a stable equity structure with 24,924,364 shares outstanding, with Försäkringsaktiebolaget Avanza Pension holding the largest stake at 15.88 percent. Operating out of its Kotka and Helsinki offices, the company remains focused on leveraging these external collaborations to navigate the competitive landscape and sustain the momentum gained in the latter half of the year.