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Next Games

Analyst

Atte Riikola

Atte Riikola

Analyytikko

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Third party research
20.4.
2022

We terminate commissioned coverage on Next Games. Note that estimates and information have not been updated in this report, and will no longer be updated. Any previously published research may thus be out of date.

Third party research
14.3.
2022

Next Games published its H2 report in line with the preliminary financials released on 2 March in conjunction with the announcement regarding the tender offer by Netflix.

Third party research
3.3.
2022

Yesterday (2 March), Next Games reported preliminary H2 2021 results clearly below our expectations, even though we had cut our estimates heavily in December after the company withdrew its guidance as a consequence of postponed UA investments for Str

Third party research
16.12.
2021

Yesterday (15 December), Next Games announced the signing of a five-year co-development agreement for a mobile game in a deal worth up to USD 16.5m.

Third party research
15.12.
2021

Next Games has signed a co-development agreement on a mobile game with “a significant, global media company”, which in our view could be Netflix. Total contract value is up to USD 16.5m to be paid over five years.

Third party research
3.12.
2021

Yesterday (2 December), Next Games expectedly announced that it would not reach its 2021 guidance.

Third party research
2.12.
2021

Next Games withdraws its 2021 guidance of at least EUR 40m of revenue and positive EBITDA.

Third party research
26.10.
2021

Next Games today finally announced the global launch of Stranger Things: Puzzle Tales and also reaffirmed its guidance for at least EUR 40m of revenue (company-collected consensus: EUR 33m) and positive EBITDA (consensus: EUR 0.6m) for 2021.

Third party research
16.8.
2021

Next Games did not benefit from Stranger Things or Blade Runner in H1 as launches on the main markets will not take place before late Q3 or Q4. Bookings for the Walking Dead franchise were down by 15% y/y in H1.

Third party research
13.7.
2021

Next Games has made progress during H1, with two new games in soft launch, and we expect those games will be important for creating positive sales growth.

Next Games