Nitro Games (NITRO) Q1 2025 earnings summary

Executive summary

• Q1 2025 was a transformational period with a shift in the game portfolio, expansion into new platforms, and a focus on new audiences.

• Revenue for Q1 2025 was EUR 2.43 million, down 9% year-over-year from EUR 2.67 million.

• EBITDA reached EUR 416k, a decrease from EUR 599k in Q1 2024; EBIT was EUR 87k, down from EUR 159k.

• Despite the cancellation of a major project with Netflix, focus shifted to new opportunities and portfolio growth.

• New game launches and demos, including Pistolo and Autogun Heroes: Supercharged, supported portfolio growth.

Financial highlights

• Achieved a profitable quarter with positive EBITDA of EUR 416k (margin 17.1%) and EBIT of EUR 87k (margin 3.6%).

• Net profit for the quarter was EUR 58k; EPS undiluted and diluted: EUR 0.00.

• Cash and cash equivalents at period end: EUR 1,090k.

• Net cash from operating activities: EUR -121k; net cash used in investing: EUR -229k.

• Five consecutive years of growth, with profitability reached at the end of 2023 and sustained into Q1.

Outlook and guidance

• Plans to expand the game portfolio, enter new platforms, and explore third-party collaborations.

• Focus remains on financial stability and profitability, with no current plans for fundraising.

• Management expects to leverage financial stability and profitability for long-term opportunities.

• Strong demand seen in Action & Shooter games from potential new B2B partners.

• Ongoing search for the scalability threshold in key titles, especially Altocon Heroes.