Nitro Games (NITRO) Q2 2025 earnings summary

Executive summary

• The first half of the year was a transitional period, with operational successes despite weaker financial performance compared to the previous year.

• Revenue for January–June 2025 was €4.1M, down 29% year-over-year; Q2 revenue was €1.7M, down 47% year-over-year.

• EBITDA for H1 2025 was €319K, a significant decrease from €1.1M in H1 2024; Q2 EBITDA was -€97K.

• The company shifted focus from a major project with Netflix to new games and partnerships, refreshing its portfolio.

• CEO expresses optimism for the future, citing a refreshed project portfolio and new opportunities.

Financial highlights

• Revenues declined year-over-year due to the transition from large projects to new initiatives; H1 2025 revenue: €4,136K (H1 2024: €5,599K); Q2 2025: €1,702K (Q2 2024: €2,925K).

• EBITDA for H1 2025: €319K (H1 2024: €1,105K); Q2 2025: -€97K (Q2 2024: €505K).

• Net result for H1 2025: -€401K (H1 2024: €279K); Q2 2025: -€460K (Q2 2024: €172K).

• Cash and cash equivalents at period end: €1,302K, improved compared to Q1, aided by balance sheet improvements and debt repayment.

• Focus remained on protecting cash and long-term profitability during the transition.

Outlook and guidance

• Actions taken in H1 are expected to yield more visible financial results in the second half of the year.

• Management expects improved performance as new projects and partnerships mature.

• Focus remains on expanding the game portfolio, operational efficiency, and financial stability.

• New partnerships and platform expansions are anticipated to drive future growth.

• The company remains committed to long-term profitability and financial stability.