Nitro Games
Nitro Games is a Finnish public game developer and publisher specializing in action and shooter games for mobile, PC, and console. The company self-publishes titles including Autogun Heroes and NERF: Superblast and provides co-development and porting services to publishers such as Starbreeze and Digital Extremes.
- Company typePublic
- Founded2007
- HeadquartersKotka, Finland
- Headcount11–50
- GTM typeB2B and B2C
- OfferingSoftware
What Nitro Games does
Nitro Games is a Finnish mobile game developer and publisher founded in 2007 in Kotka, Finland, and publicly listed on Nasdaq First North Growth Market in Sweden under the ticker NITRO. The company specializes in action and shooter games across mobile, PC, and console platforms, having developed more than 25 international game titles during its operating history. Core operations are built around two pillars: a self-publishing portfolio of consumer titles including Autogun Heroes, NERF: Superblast, Medals of War, and Heroes of Warland, plus the upcoming premium release Warhammer 40,000: Boltgun Boom; and a Nitro Partners business providing co-development, porting, and live operations services to publishers including Starbreeze (PAYDAY 3), Digital Extremes (Warframe Mobile), Avalanche Studios, and VOID Interactive. Headcount sits in the 11-50 range, with offices in Kotka and Helsinki.
The company's technology stack is anchored by its proprietary NG Platform and NG MVP-process, which enables rapid market validation of game prototypes during development by collecting live player and community feedback, alongside an in-house shooter engine used across multiple projects. Revenue is generated through five streams: free-to-play in-game purchases on self-published mobile games, IP licensing revenue shares with brand owners (Games Workshop for Warhammer, Hasbro for NERF), professional game development services under partner agreements, iGaming revenue share (Pistolo on pistolo.com and a new portfolio under the Ethereal Gaming agreement), and one-time source code licensing of legacy titles. The customer base spans end-consumer mobile gamers globally and enterprise partners across publishing, regional distribution, and IP licensing.
The company is led by co-founder Jussi Tähtinen (CEO) and co-founder Antti Villanen (CSO), with a recently expanded executive team including CFO Matti Nikkola, CCO Jussi Immonen, CTO Samppa Rönkä, COO Antti Ruonala, and CPO Milka Tarkiainen. Major shareholders include Försäkringsaktiebolaget Avanza Pension (18.29%), individual investor and board member Jimmy Jönsson (5.74%), and institutional investor Nordisk Games. Distribution combines self-publishing through Apple App Store and Google Play with regional publishing partners (notably Netmarble EMEA for MEA) and PC/console platforms for partner-led projects. The business operates from Finland and serves a global audience without stated geographic restrictions.
Nitro Games firmographics
Firmographics- Name
- Nitro Games
- Legal name
- Nitro Games Oyj
- Website
- https://nitrogames.com
- Company type
- Public
- Founded year
- 2007
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Nitro Games is a Finnish public game developer and publisher specializing in action and shooter games for mobile, PC, and console. The company self-publishes titles including Autogun Heroes and NERF: Superblast and provides co-development and porting services to publishers such as Starbreeze and Digital Extremes.
- Ownership category
- akta.pro rank
Nitro Games industry classification
Industry- Product category
- Mobile Game Development and Publishing
- akta.pro primary industry
- Mobile & F2P Game Studios (MPAFAAAB)
- akta.pro secondary industry
- Strategy/4X/Management Game Studios (MPAFAAAK)
Keywords
Where Nitro Games is headquartered
LocationHeadquarters
- HQ city
- Kotka
- HQ country
- Finland
- HQ region
- Europe
Offices2 records
Markets served
Nitro Games business model
Business model- GTM type
- B2B and B2C
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure
Revenue model
- Game Development Services: Nitro Games provides game development services to other publishers and developers. Revenue recognized through development fees and service agreements with partners including Starbreeze, European publishers, and others.
- IP Licensing and Revenue Share: Licensing games based on third-party IP (e.g., Warhammer 40,000 from Games Workshop, NERF from Hasbro) with revenue-sharing models tied to commercial performance.
- Self-Published Games: Free-to-play mobile games with in-game purchases and virtual items generating revenue. Examples include Autogun Heroes, NERF: Superblast, Medals of War, Heroes of Warland.
- iGaming Revenue Share: Pistolo game launched on iGaming platform generating revenue share payments. Partnership with Ethereal Gaming for developing and distributing iGames portfolio.
- Source Code Licensing: Selling copies of source code and related documentation for legacy game titles, with partners obtaining ownership of delivered code.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Pay-as-you-go | Free-to-play games with in-game purchases |
Go-to-market motion3 records
Distribution channels5 records
Marketing channels6 records
Nitro Games product offering
Product offeringCore offering
Nitro Games designs, develops, and publishes free-to-play mobile action and shooter games for global audiences, using its proprietary NG Platform and MVP-process for rapid market validation. The company operates a dual model: self-publishing consumer games (e.g., Autogun Heroes, NERF: Superblast, Medals of War, Heroes of Warland, Pistolo) while also providing tailored game development and publishing services to publishers and IP holders through its Nitro Partners business unit.
Product overview
Nitro Games is a Finnish mobile game developer and publisher specializing in action and shooter games for global audiences across mobile, PC, and console platforms. The company's portfolio spans self-published titles (Autogun Heroes, NERF: Superblast, Warhammer 40,000: Boltgun Boom, Pistolo) alongside partner-funded development work under the Nitro Partners model. All games are developed using the proprietary NG Platform and MVP process for rapid market validation. The company is expanding into iGaming via partnerships and holds a Warhammer 40,000 license from Games Workshop. Historic games include Medals of War, Heroes of Warland, and Runegate Heroes.
Differentiator
Problem solved
Functional benefit
Brands
- Warhammer 40,000: Boltgun Boom: Mobile shooter game based on the Warhammer 40,000 universe by Games Workshop, planned for release in 2026.
- Autogun Heroes
- NERF: Superblast
- Pistolo
Products and services
- Autogun Heroes A free-to-play mobile action shooter game in Nitro Games' self-published portfolio, targeting mid-core mobile gamers seeking competitive multiplayer experiences.
- NERF: Superblast A mobile action game developed under a global exclusive license from Hasbro's NERF brand, featuring NERF-themed blaster gameplay for mobile players and NERF brand fans.
- Warhammer 40,000: Boltgun Boom A premium retro FPS boomer shooter mobile game based on the Warhammer 40,000 universe by Games Workshop, adapted from Auroch Digital's PC/console series for mobile platforms.
- Pistolo An iGaming title launched on pistolo.com, representing Nitro Games' entry into the iGaming sector with real-money gaming content under a revenue share model.
- Medals of War A community-focused mobile strategy game with a WW2 fantasy setting featuring real-time PvP combat, developed using the NG MVP process and self-published in Western markets.
- Heroes of Warland A team-based competitive multiplayer hero shooter for mobile, introducing hero-based shooter mechanics to mobile for the first time, published with Netmarble EMEA in MEA territories.
- Runegate Heroes A competitive multiplayer mobile game where players build teams of heroes to challenge others in real-time tactical combat involving tower defense and portal control.
- Warframe Mobile (collaboration with Digital Extremes) A mobile port of Digital Extremes' Warframe franchise, developed and delivered through Nitro Games' development services partnership with Digital Extremes; launched on Android in February 2026.
- Nitro Partners (Development Services) Tailored game development, porting, and publishing services provided to select partners and publishers under the Nitro Partners brand, covering PC, console, and mobile projects.
Quantifiable outcome
- Revenue of 8.5 million EUR in 2025
- +3 more outcomes
Companies that use Nitro Games
Customer profileNamed customers9 records
Segments4 records
Ideal customer profiles3 records
Nitro Games technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration14 records
Feature3 records
Nitro Games partnerships and signals
Strategic signalPartnerships
Ten partnerships are on record, tiered flagship, core and minor.
- Games WorkshopflagshipNitro Games signed a licensing agreement with Games Workshop to develop mobile games based on the Warhammer 40,000 universe. The first project is Warhammer 40,000: Boltgun Boom, a premium retro FPS scheduled for release in 2026. Pre-registration is open on Apple App Store and Google Play. The parties have agreed on a revenue-sharing model tied to commercial performance.
- Ethereal GamingcoreDevelopment and Distribution Agreement where Nitro Games develops and Ethereal Gaming distributes a portfolio of selected iGames. Games are intended for release on selected markets and networks, with first games expected in 2026. Parties agreed on significant revenue share for Nitro Games subject to commercial performance.
- VOID InteractiveminorContinued collaboration mentioned in Q1 2026 report with solid progress being made on the partnership.
- StarbreezecoreExpanded development services agreement with Starbreeze to continue working on one of Starbreeze's games. Work was expected to complete in 2025. Collaboration includes contributions to PAYDAY 3 updates. Initial agreement was communicated in July 2025.
- Digital ExtremesminorLetter of Intent signed in 2021 for an unannounced project with Digital Extremes, the developer of Warframe.
- SnapminorAgreement to develop and bring a new game to the Snapchat platform.
- Hasbro (NERF)coreGlobal exclusive license secured for NERF by Hasbro to develop a mobile action game based on Nerf blasters. Resulted in NERF: Superblast game.
- Netmarble EMEAcoreGame Distribution and Servicing Agreement for publishing Medals of War and Heroes of Warland in Turkish and Arabic speaking countries. Agreement covers 3 years from commercial launch with 500,000 EUR in service fees paid in installments and 35% net royalties to Nitro Games.
- Avalanche Studios (Expansive Worlds)coreAgreement for Nitro Games to develop a mobile game using existing Avalanche Studios IP. Production period ongoing until April 30, 2020 with development budget of 1,250,000 EUR. Platforms: iOS and Android. Live operations phase terms to be agreed later.
- Huawei (Aspiegel)minorSponsorship and Partnership Agreement with Aspiegel Limited, a subsidiary of Huawei, related to game services.
Scale indicators9 records
Recent moves6 records
Expansion highlights6 records
Nitro Games competitors and assessment
Company assessmentDirect peers
- Rovio Entertainment (Sega): Rovio is a fellow Finnish mobile game developer and publisher (Angry Birds), sharing national heritage and a comparable mid-cap European mobile game business model. Comparable in mobile F2P publishing, IP licensing, and Nordic corporate background.
- Metacore: Metacore is a Finnish mobile game studio behind Merge Mansion, with similar size, geography, and self-published mobile portfolio focus. Directly comparable as a Finnish mobile-first studio competing in the same European mid-cap tier.
- Fingersoft: Fingersoft is a Finnish mobile game developer (Hill Climb Racing) with a comparable geographic profile, scale, and F2P mobile publishing model. Similar mid-cap Finnish studio structure and revenue band.
- Wargaming: Wargaming develops World of Tanks Blitz and other mobile action/shooter titles, directly competing with Nitro in the mid-core mobile shooter category. Highly relevant peer for shooter genre, mobile platform, and F2P monetization approach.
- Scopely: Scopely is a mobile game developer and publisher with a strong licensed-IP portfolio (Marvel Strike Force, Star Wars). Comparable IP licensing model, mobile F2P monetization, and partnership-driven publishing approach.
- BoomBit: BoomBit is a Polish mobile game developer and publisher (Hunting Clash, Darts of Fury), with a similar mid-cap European profile and hybrid self-publishing plus licensed IP approach. Comparable in scale, geographic positioning, and mobile F2P business model.
- Vivid Games: Vivid Games is a Polish mobile game developer with shooter and action titles (Real Boxing), sharing a similar mid-cap European mobile game studio profile. Directly comparable in geographic tier, mobile shooter portfolio, and self-publishing focus.
- Tilting Point: Tilting Point is a mobile game publisher that works with developers on licensed-IP and free-to-play titles. Comparable as a partner-funded, mobile-focused publisher using a hybrid development-services and self-publishing model.
Broad incumbents
- Playtika: Playtika is a large mobile game publisher with a broad casual and mid-core portfolio (Slotomania, House of Fun). A broader incumbent operating at much greater scale in the same mobile F2P publishing category, useful for benchmarking monetization and live-ops capability.
- Krafton: Krafton operates PUBG Mobile and other major shooter franchises, competing head-to-head with Nitro in the mobile shooter category but at vastly greater scale. Relevant for genre dynamics, mobile shooter monetization benchmarks, and competitive intensity.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks5 records
Key highlights7 records
Customer concentration
Nitro Games social profiles
Digital presenceNitro Games financial estimates
Financial estimateRevenue estimate
Valuation estimate
Nitro Games leadership team
Management profileNumber of profiles
Profiles9 records
Nitro Games funding detail
Funding detailFunding overview
Funding rounds9 records
Investors7 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Nitro Games M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Nitro Games
What does Nitro Games do?
Nitro Games designs, develops, and publishes free-to-play mobile action and shooter games for global audiences, using its proprietary NG Platform and MVP-process for rapid market validation. The company operates a dual model: self-publishing consumer games (e.g., Autogun Heroes, NERF: Superblast, Medals of War, Heroes of Warland, Pistolo) while also providing tailored game development and publishing services to publishers and IP holders through its Nitro Partners business unit.
Is Nitro Games a public or private company?
Nitro Games is a public company. It is classified as public and is currently operating.
When was Nitro Games founded?
Nitro Games was founded in 2007. It employs 11 to 50 people.
Where is Nitro Games based?
Nitro Games is headquartered in Kotka, Finland, in the Europe region.
How does Nitro Games make money?
Five revenue lines are on record. Game Development Services are the primary driver. The others are IP Licensing and Revenue Share, self-Published Games, iGaming Revenue Share and source Code Licensing.
Who are Nitro Games's main competitors?
Direct peers on record are Rovio Entertainment (Sega), Metacore, Fingersoft, Wargaming, Scopely, BoomBit, Vivid Games and Tilting Point. Broad incumbents are Playtika and Krafton.
Does Nitro Games have an API?
No public API is recorded for Nitro Games.
What industry is Nitro Games in?
Nitro Games's product category is Mobile Game Development and Publishing. Its primary akta.pro industry code is MPAFAAAB, Mobile & F2P Game Studios, with a secondary code of MPAFAAAK, Strategy/4X/Management Game Studios.