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Next Games Corp. Half-year Review 2019 – Revenue grew 83%, profitability improved significantly
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Next Games Corp. Half-year Review 2019
Revenue grew 83%, profitability improved significantly
April-June 2019 in short
- Revenue was EUR 9.4 million, an increase of 65% compared to Q2 2018 (EUR 5.7 million)
- Gross profit % increased by 3 percentage points and was EUR 5.7 million, 60% of revenue (EUR 3.3 million, 58% of revenue)
- Adjusted operating profit improved 75% and was EUR -0.5 million (EUR -2.0 million)
- EBITDA improved 96% and was EUR -0.1 million (EUR -2.4 million)
- EBIT improved 55% and was EUR -1.1 million ( EUR -2.4 million)
- Product development costs were EUR 2.0 million euros (EUR 1.8 million).
- Number of employees was 108 at the end of the quarter (132)
- At the end of the review period, the company’s cash balance was EUR 4.7 million. The company’s longer term goal to consistently remain cash flow neutral has proceeded according to plan as the cash balance was EUR 4.8. million at the end of Q1
- The company successfully renewed its credit limit guarantee during the review period. As a part of the full assessment of additional financing, the company is negotiating with credit providers about new terms for the credit limit.
- The company announced a collaboration agreement with Netflix to develop a mobile game based on Stranger Things series for 2020
January-June 2019 in short
- Revenue was EUR 19.2 million, an increase of 83% compared to H1 2018 (EUR 10.5 million)
- Gross profit % increased by 1 percentage point and was EUR 11.2 million, 59% of revenue (EUR 6.0 million, 58% of revenue)
- Adjusted operating profit improved 56% and was EUR -1.8 million (EUR -4.1 million)
- EBITDA improved 69% and was EUR -1.5 million (EUR -4.8 million)
- EBIT improved 29% and was EUR -3.5 million (EUR -5.0 million)
- Product development costs were EUR 4.7 million (EUR 3.6M).
(Numbers in brackets refer to the corresponding year-on-year period unless otherwise mentioned)
Key Figures
| 2019 | 2018 | 2019 | 2018 | 2018 | |||||||
| EUR thousand | 04-06/2019 | 04-06/2018 | Change | 01-06/2019 | 01-06/2018 | Change | Full year | ||||
| Revenue | 9,395 | 5,689 | 65% | 19,224 | 10,477 | 83% | 35,245 | ||||
| Gross Profit | 5,670 | 3,273 | 73% | 11,250 | 6,034 | 86% | 21,294 | ||||
| Gross profit margin % | 60% | 58% | 3ppt | 59% | 58% | 1ppt | 60% | ||||
| Operating Result (EBIT) | -1,100 | -2,448 | n/a | -3,495 | -4,954 | n/a | -16,915 | ||||
| Operating result margin % | -12% | -43% | 31ppt | -18% | -47% | 29ppt | -48% | ||||
| Adjusted Operating Result* | -497 | -2,007 | n/a | -1,809 | -4,072 | n/a | -13,777 | ||||
| Adjusted operating result margin % | -5% | -35% | 30ppt | -9% | -39% | 29ppt | -39% | ||||
| Depreciations and Amortizations total | 993 | 70 | 1,985 | 140 | 2,165 | ||||||
| IFRS 16 | 256 | – | 512 | – | 512 | ||||||
| Amortizations of R&D & Licenses | 579 | 30 | 1,157 | 60 | 1,248 | ||||||
| Other | 159 | 40 | 316 | 80 | 405 | ||||||
| Earnings per share, EUR | -0.08 | -0.12 | -0.22 | -0.30 | -0.99 | ||||||
| Earnings per share, dilluted EUR | -0.08 | -0.12 | -0.22 | -0.30 | -0.99 | ||||||
| Current Ratio | 1.15 | 3.92 | 1.15 | 3.92 | 1.53 | ||||||
| Employees (end of period) | 108 | 132 | 108 | 132 | 143 | ||||||
*Adjusted operating result is an non-GAAP measure and differs from EBITDA as it excludes IFRS 16 depreciations and include IFRS 2 adjustments for share based payments. Management uses this Non-GAAP measure as an alternative to EBITDA to analyze the profitability of the business. Please see reconciliation of Non-GAAP measurements
Current ratio is an alternative measure which is calculated by dividing current assets such as cash and short-term receivables to current liabilities. Current ratio measures the liquidity of the company.
Reconciliation of Non-GAAP Measurements
Adjusted Operating Result and EBITDA
| 2019 | 2018 | 2019 | 2018 | 2018 | ||||||
| EUR thousand | 04-06/2019 | 04-06/2018 | 01-06/2019 | 01-06/2018 | Full year | |||||
| Operating Result (EBIT) | -1,100 | -2,448 | -3,495 | -4,954 | -16,915 | |||||
| Depreciations total | 993 | 70 | 1,985 | 140 | 2,165 | |||||
| EBITDA | -107 | -2,378 | -1,510 | -4,814 | -14,749 | |||||
| IFRS 16 | -256 | – | -512 | – | -512 | |||||
| IFRS 2 share based payments | -134 | 371 | 213 | 742 | 1,483 | |||||
| Adjusted Operating Result | -497 | -2,007 | -1,809 | -4,072 | -13,777 | |||||
Current Ratio
| EUR thousand | 30.6.2019 | 30.6.2018 | |
| Current assets | 10,598 | 23,300 | |
| Current liabilities | 9,247 | 5,937 | |
| Current Ratio | 1.15 | 3.92 |
Chief Executive Officer Teemu Huuhtanen
Next Games continued to strongly focus on renewing its operations during the first half. We successfully completed the first step of the three-step turnaround project; balancing and stabilizing the company’s cost structure to a new level.
The company previously communicated that it aims to achieve a monthly fixed cost level of approximately 1.1 – 1.2 million euros. The cost savings program was successfully implemented and we achieved a 1.2 million euro fixed cost level during the second quarter. The company’s profitability continued to improve during the second quarter. Adjusted EBITDA was -0.5 million euros during Q2 2019, whereas it was still -1.3. million euros in Q1 2019. The company’s long term goal towards remaining consistently cash flow neutral has therefore proceeded as planned.
Next Games revenue grew 83% compared to January-June 2018 and 65% compared to April-June 2018 period. Our World achieved another record-breaking in-app purchase ARPDAU of 0.34 Euros in June. The game still experienced challenges with retention however, and thus the marketing investment level was on a higher level than the company’s objectives. The team now focuses on improving the game’s retention and further developing the product.
In order to achieve revenue growth, the company has actively developed it advertisement revenue model. The company implemented video ads, similar to No Man’s Land, to Our World mid-June 2019. Additionally, the company has piloted an innovative location-based ad solution for Our World with a significant global partner with promising preliminary results during the first half of 2019.
The second step of the turnaround plan, rebuilding the company’s product development pipeline according to its new focus, has started off well. Our new operating model focuses on reusing existing technology and code, which has the potential to significantly reduce product development times. The collaboration with Netflix on a mobile game based on the Stranger Things series, that received significant international media attention after its announcement in July, has been built utilizing the new practices. The company has continued active discussions over potential collaboration with other significant international license holders.
Thanks to the renewed game development process, the company has initiated multiple new projects in the prototyping and concepting phase. It’s important to have a robust early development pipeline, as it’s typical for the mobile games industry that only a portion of the games in development are published to the market. At the moment, 46% of the company’s personnel works on live games and 42% on new projects.
Third, and the final step of our turnaround project, is to secure additional funding for future investments such as new product development and marketing. Thanks to the stabilized business operations, the company is in a good place to continue assessing alternatives to strengthen its financial position.
I would like to warmly thank our staff and our board of directors for the extraordinary contribution to achieve the turnaround this far. I am especially pleased about the enthusiasm surrounding the building of our new product portfolio.
Business Outlook 2019
The company seeks moderate revenue growth during 2019 compared to 2018 and, as a result from the changes in its cost structure as a first step, strives towards remaining cash flow neutral in the longer term. As part of cost restructuring, the company estimates it will achieve monthly savings of approximately € 550 thousand in salaries, administrative costs and product development costs, totalling approximately € 6.5M on a yearly basis as compared to the second half of 2018.
Basis for Outlook 2019
The company’s estimates are based on the assumption that The Walking Dead: No Man’s Land and The Walking Dead: Our World maintain their current revenue levels. In addition, the outlook is based on game development staying on schedule and on target of launching one game per year.
January-June 2019 Audiocast
Next Games holds an English audiocast and phone conference on July 26 2019 at 10.30 EEST. You can join the audiocast by using the following link: https://nxtg.ms/2XVv9LU. More information about the audiocast and phone conference: https://nxtg.ms/2JFGXZU.
Next Games in Short
Next Games is the first publicly listed mobile game developer and publisher in Finland, specializing in games based on entertainment franchises, such as movies, TV series or books. The developers of the critically acclaimed The Walking Dead games redefines the way franchise entertainment transforms into highly engaging service-based mobile games. In summer 2018, Next Games launched The Walking Dead: Our World, which utilizes cutting edge AR technology and is powered by Google Maps. Currently Next Games is working on multiple new games based on popular entertainment franchises including, Blade Runner Nexus, for the popular Blade Runner franchise and a mobile game based on Netflix’s Stranger Things.
Additional information:
Saara Bergström
CMO
[email protected]
+358 (0)50 483 3896
Certified Adviser: Danske Bank A/S, Finland branch, tel. +358 10 546 7938
Attachment
Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Next Games Corp. Half-year Review 2019 – Revenue grew 83%, profitability improved significantly
Reading Time: 2 minutes
The International Association of Gaming Regulators (IAGR) has announced the winners of the IAGR International Regulatory Awards 2025, with regulators from Australia, Nigeria and Denmark taking home trophies during the IAGR Toronto conference.
IAGR President Ben Haden, who served on the judging panel, said this year’s winners demonstrate measurable progress and sustainable outcomes.
‘Our judges looked for clear problem definitions, robust interventions and evidence of impact. The 2025 winners show how thoughtful reforms, strong governance and targeted education can improve consumer protection and market integrity over the long term,’ said Haden.
- Regulatory Excellence Award: NSW Independent Casino Commission (Australia)
For leading a three-year, milestone-driven remediation of Crown Sydney following the Bergin Inquiry — eliminating junkets, strengthening financial-crime controls, enhancing harm-minimisation and reforming governance.
- ‘The NSW Independent Casino Commission is proud to be recognised for its dedication to restoring the expected standards at Crown Sydney. This has included three years of intense remediation which has completely transformed the casino’s governance, culture, safety and compliance functions.
- ‘The NICC has proven that it is possible to enact long lasting change and in doing so has set a new standard for Australian casino operations.’ – Murray Smith, Acting Chief Commissioner, NSW Independent Casino Commission
- Regulatory Innovation Award: Lagos State Lotteries and Gaming Authority (Nigeria)
For SAFEPLAY, Africa’s first regulator-led, multi-operator self-exclusion platform — centrally managed by the regulator and integrated with operator systems — creating a consistent, replicable model for consumer protection.
- ‘We are honoured to receive the IAGR Regulatory Innovation Award for our SafePlay initiative. This recognition reaffirms our commitment to responsible gambling, player protection, and data-driven regulation that puts the welfare of Lagos residents at the heart of our innovation.’ – Bashir A. Are, Chief Executive Officer, Lagos State Lotteries and Gaming Authority
- Best regulatory campaign: Danish Gambling Authority (Denmark)
For an interactive, school-based education programme that engages young people with practical demonstrations and surveys evidencing shifts away from gambling ‘to make money’ towards safer play and awareness of help services.
- This marks the second consecutive year that the Danish Gambling Authority has received the Best regulatory campaign award. ‘I’m very proud that IAGR has bestowed The Danish Gambling Authority with this award. It’s crucial that young people understand that gambling is designed so the player always loses in the long run. By conveying this message, we hope to promote a balanced attitude toward gambling and I’m extremely honoured that our efforts are recognised internationally.’ – Anders Dorph, Director, Danish Gambling Authority
These awards underscore the importance of collaboration, innovation and dedication in the global regulation of gambling.
The post IAGR announces winners of 2025 Regulatory Awards appeared first on European Gaming Industry News.
Reading Time: 2 minutes
Yaspa, an award-winning company specialising in iGaming payments and identity solutions, has been named among the 100 most promising fintech startups by CB Insights, a leader in predictive intelligence on private companies.
Now in its eighth year, the 2025 list showcases the most promising private fintech companies in the world.
Yaspa’s Intelligent Payments solution combines real-time open banking payments with AI-driven insights to help provide operators with broader and deeper player intelligence to optimise LTV, reduce fraud and promote responsible gambling.
This year has seen Yaspa celebrate a series of key milestones, including attracting $12m investment led by Discerning Capital, the opening of a new tech hub in Leeds and the formation of a US entity in Atlanta.
In 2025, the Yaspa team has grown to more than 70, including the addition of Chris Lowe as CFO and Renuka Rawlins as Head of Public Policy and Affairs. Earlier this month, Yaspa unveiled its new brand identity as it prepares to accelerate global growth.
Yaspa co-founder and CEO, James Neville, said: “It’s an absolute delight to be recognised by CB Insights for our work. “We’re listed alongside some impressive companies on the Fintech 100. From the foundation of Yaspa in 2017 we’ve been driven by a desire to explore the intersection between identity and money, and it’s rewarding to have this focus – and the value we can bring – recognised both by our growing customer base and the CB Insights analysis. Congratulations to everyone on the list.”
The list features early- and mid-stage startups driving the evolution of fintech. Utilising the CB Insights Strategy Terminal, the 100 winners were selected based on several factors, including CB Insights datasets on deal activity, industry partnerships, investor strength, hiring momentum, and private company signals such as Commercial Maturity and Mosaic Scores.
CB Insights also reviewed Analyst Briefings submitted directly to us by startups and leveraged Scouting Reports, powered by CB Insights’ Team of Agents.
Laura Kennedy, principal analyst at CB Insights, said: “This year’s Fintech 100 showcases a new generation of companies turning Al, automation and digital assets into the backbone of financial infrastructure.”
“This year’s winners are building the infrastructure that will shape the future of financial services.”
Quick facts on the 2025 Fintech 100:
- The 100 winners include 20 companies across digital assets solutions, 16 in financial operations and HR, 14 payments companies, and 13 in wealth management.
- 60+ companies on the list deploy Al in their solutions, and Al agents in particular are moving from workflows to financial infrastructure.
- $5.6B in equity funding raised over time, including more than $2B in 2025 so far (as of 10/22/2025).
- 60 companies from outside the United States, across 26 countries on 6 continents
- 640+ business relationships since 2021, including with industry leaders like Mastercard, Visa, Worldpay, Coinbase, and Circle.
The post Yaspa named among CB Insights’ most promising fintech startups for 2025 appeared first on European Gaming Industry News.
Latest News
All Roads Lead to the Helicopter — N1 Partners Turns SiGMA Central Europe 2025 into a Pit Stop for Deals
Reading Time: 2 minutes
N1 Partners is heading to SiGMA Central Europe 2025 with Booth 5056 G, charged with drive, precision, and the spirit of being first — presenting its top offers, products, and entering the final lap of the N1 Puzzle Promo before the grand finale.
After hitting the road in London and conquering the waves in Lisbon, N1 Partners is taking off to the sky — straight to SiGMA Central Europe 2025 in Rome. This time, all roads truly lead to the helicopter.
Inspired by Italian sports car engineering and the spirit of competition, with a true vibe of drive — from Ferrari and Maserati to Formula 1 — the N1 Partners stand merges speed, precision, and style in every detail, creating a space where affiliates can recharge, connect, and explore new opportunities.
Step Up to the HeliRun Challenge
Visitors can take on the HeliRun Challenge — a mechanical time-trial maze where accuracy and focus are key and winners will receive branded mini-helicopters and other limited prizes.
Win a Ferrari
One lucky guest will drive away with a Ferrari — in LEGO form, but full of prestige.
Simply collect a branded card at the booth, follow N1 Partners on social media, and drop your entry into the prize drum.
The draw will take place on Day 3 at 16:00, with results announced on Instagram.
What Awaits at Booth 5056 G
- Meet the N1 Partners team to discuss insights and top-tier deals.
- Enjoy aperol & gelato sessions and exclusive giveaways.
- Take part in interactive activations and surprise drops throughout the event.
- Get exclusive N1 merch featuring the Puzzle Piece — your link to future N1 Puzzle Promo prizes.
Every detail is designed for speed, style, and engagement — making the booth a must-visit destination in Rome.
Why Meet N1 Partners in Rome
For more than eight years, N1 Partners has been accelerating affiliate growth, uniting 14+ licensed casino and betting brands across Tier-1 markets.
The program offers:
- Flexible deals: RevShare up to 45% / Hybrid / CPA up to €700 for partners with top-performing traffic
- Transparent terms: no shave, no delays, guaranteed payouts
- Exceptional performance: Reg2Dep up to 70%
At Booth 5056 G, the team will present personalized offers and partnership opportunities for affiliates working with SEO, PPC, FB, or mixed traffic.
With N1 Partners, you don’t just work with the number one — you become one.
Don’t wait — book your meeting now and take off with N1 Partners.
Next Lap: Helicopter.
The post All Roads Lead to the Helicopter — N1 Partners Turns SiGMA Central Europe 2025 into a Pit Stop for Deals appeared first on European Gaming Industry News.
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