NODWIN Gaming posts $68.7M FY26 revenue, EBITDA profit

NODWIN Gaming reported consolidated revenue of INR 658 crore ($68.7 million) for the fiscal year ended March 2026, a 25% increase from FY25. The company posted an EBITDA profit of INR 21 crore in FY26, compared with an EBITDA loss of INR 14 crore the prior year. The company attributed the swing to a portfolio restructuring that included deconsolidating loss-making subsidiary Freaks4U.

NODWIN cited stronger performance across live events, content production and its intellectual property business as drivers of the revenue increase. The company reported that ticketed events, sponsorships and content licensing contributed materially to FY26 growth.

Operations are organized into two verticals: Live, which runs esports tournaments, festivals, fan conventions and brand activations; and Content, which produces broadcast, scripted and digital programming. Management described the model as cyclical, with content building community and engagement that supports events, sponsorships, merchandise and new IP, which then funds further content production.

The company said it remains focused on the Global South while generating revenue from international markets. NODWIN operates through offices and partnerships across South Asia, Southeast Asia, Central Asia, the Middle East, Africa and Europe. In 2025 it appointed Teemu Koski as chief business officer to expand activities in the Middle East and North Africa.

NODWIN pointed to its strategic investment in tournament operator StarLadder as a factor in executing the Counter-Strike Major in Budapest, saying the stake helped secure the event and expand production capabilities. The firm was named India’s official National Team Partner for the Esports Nations Cup 2026 and will manage the Indian contingent.

Ahead of a planned initial public offering, NODWIN has added senior executives including Manish Agarwal, Arnd Benninghoff and Sidharth Kedia to strengthen long-term growth planning, governance and capital strategy.

The FY26 financials reflect both operational gains and the accounting effect of removing Freaks4U from consolidated results. The company did not provide a regional or vertical revenue breakdown in its summary, but highlighted live events and IP as key contributors to the year’s improved result.