Half-Year Report: January–June 2026

Nitro Games transitioned its corporate strategy during the first half of 2026, prioritizing long-term profitability and operational efficiency over aggressive top-line revenue growth. This strategic pivot resulted in a revenue contraction to EUR 2.5 million, down from EUR 4.1 million in the previous year. Despite this decline, the company achieved a net profit of EUR 1.1 million, marking a significant turnaround from the EUR 401,000 loss recorded during the same period in 2025. This financial improvement was bolstered by a substantial increase in operating cash flow to EUR 2.2 million and the capitalization of EUR 519,000 in development costs, even as the average workforce was streamlined to 40 employees.

The company’s bottom-line performance was heavily influenced by a one-off, non-cash gain resulting from the forgiveness of a EUR 1.6 million government-subsidized loan from Business Finland. While this event provided a significant boost to the balance sheet, the firm maintains a stable cash position of EUR 1.9 million. Financial reporting for this period reflects the early adoption of IFRS 18, which updated presentation standards without altering underlying cash flows or profit metrics. However, the data reveals a growing concentration of revenue, with two primary customers now accounting for more than 66% of total income.

Looking forward, the company remains focused on its core PC and console segments, which are currently demonstrating resilience by outperforming broader global gaming market trends. Growth initiatives are supported by a recently secured EUR 2.1 million service agreement and a new licensing partnership for the Warhammer franchise. These developments underscore a commitment to sustainable development and high-value project acquisition as the company navigates its current fiscal trajectory.