NODWIN Gaming reported consolidated revenue of INR 116 crore for the first quarter of FY27, the company said on 4 August 2026. The India-headquartered youth entertainment and esports group noted that Q1 is typically its slowest quarter due to seasonality, but said operating performance improved year-on-year.
EBITDA loss narrowed to INR 7.53 crore in Q1 FY27 from an EBITDA loss of INR 11 crore in Q1 FY26, a 32% improvement, which NODWIN attributed to stronger operating discipline alongside continued investment in content, intellectual property and international expansion.
During the quarter, NODWIN said it expanded its content portfolio with new initiatives spanning Trading Cards and Board Games, a premium pop culture merchandise business, and The National Math Bee developed in partnership with Bhanzu. The company also announced international expansion for its creator-led gaming entertainment IP, Playground, which is set to debut in the United States alongside its India edition this year, and confirmed 2026–27 editions of its partnerships with Rusk Media.
On the partnerships front, NODWIN said it and Garena agreed to work together to support the growth of Free Fire MAX in India. The company also reported international growth in its partner support services business, including projects for the Saudi Football Federation and the Belgian Football Association.
Looking ahead, NODWIN pointed to a number of changes it expects to influence performance in coming quarters, including the shift of a “highly profitable” global PUBG Mobile property from Q1 to Q2 due to scheduling changes, NH7’s transition to a licensing model in India, and Comic Con India moving away from minimum guarantee agreements to direct ticket sales. The company also said it has deployed more than 10 internally developed AI-powered workflow solutions across corporate and production functions, with expected software replacement-led cost savings of approximately INR 12 crore over the next three years.
Akshat Rathee, Co-Founder and Managing Director, NODWIN Gaming, said: “The first quarter is traditionally our lightest from a revenue perspective because of the timing of our largest properties, but the progress we’ve made on operating performance is encouraging. Over the past year, we have focused on building a stronger foundation by improving efficiency, refining our acquisition strategy, investing in technology, and expanding the opportunities around our Live and Content businesses.
We are seeing that discipline translate into a healthier business. Every step we are taking today is helping build a business that is increasingly ready for the responsibilities of the public markets. At the same time, we continue to expand our portfolio with new entertainment formats, international opportunities, and consumer products that strengthen our engagement with youth audiences. As we restart our acquisition journey, our focus remains on building an integrated global youth entertainment company with sustainable growth, strong founder-led businesses, and diversified revenue streams.”
