Good morning.
Good morning.
[Foreign language] Hyvää huomenta.
Greetings from sunny Finland.
Yes. Actually, it is sunny.
Yeah, it is sunny.
Yeah, yeah. Hasn't been in a while.
Yeah, last time I think June or May.
Yeah. Yeah. It's your boys, Jussi and Antti.
Antti
Here again to deliver you the latest and greatest from the world of Nitro Games. We are here because we just released our Q3 interim report earlier this morning, and this time we have a lot to talk about.
Yeah.
It was surprisingly active, and there was so many things going on, so many fronts in Nitro during the third quarter. We'll be covering a lot of areas.
Exactly
Like throughout the business today. Before we get into those, let's have a brief look about who we are and what we do. Nitro Games, we are your global mobile games powerhouse, and we're based in Finland. We have partner studios here and there and everywhere, and that's the model that we work and are able to work on several different time zones, for example. We focus on Action & Shooter Games on mobile. Our vision is to become the household name in the category of shooter games on mobile. After the third quarter, we're well on our way towards our vision.
We're well on our way on that one.
Yeah.
It seems that the market is also working in our favor.
Yeah
More and more big boys from the industry are entering into the world of shooters on mobile and.
Yeah
looking for good partners.
Definitely
to help them to come to the space.
Yeah
There has been more and more activity week- by- week.
Yeah. Overall, if we would paint sort of a trend line type of a picture, if we come from a background where we did quite you know larger scale projects, smaller scale projects, but now it seems that the demand is and where the market is going is more and more towards higher production value.
Higher production value. It's following the pretty much same trends as a PC 20 years ago.
Yeah. Yeah
consoles 10 years ago.
Yeah.
First there are kind of core gameplay shooters and then the production value is coming to.
Yeah
Play bigger and bigger role.
Yeah.
Which means that budgets are going bigger.
Yeah
Need for the team size is going to be bigger and even the development times sometimes can be longer.
Yeah
We are starting to see higher and higher production value, like a full-scale HD experience.
Yeah
On a mobile. That said, it seems that many of the games are somehow connected for the other platforms also.
Yeah. Yeah. It seems that there's more and more of this type of cross-platform opportunities available.
cross-play. cross-save.
Yes. Yes. Might be that we already have our hands in the mud with some of that stuff that we haven't announced yet. Overall, what we're seeing is super exciting for Nitro because for those of you who don't know, we come from a background where we used to work with PC and console in the past, and that means that we have relevant expertise from several different platforms. Where you need a studio that can pull off high production value mobile games and/or cooperate with other platforms as well, we are your go-to guys on that one. Overall, the world is headed in very much right direction if you ask me. Let's get down to the business and see what we did during the third quarter.
Like we say in the report, it was a quarter full of big events, and that's because it was a quarter full of big events. If we look at the numbers, our revenues increased from January to September a whopping 250% year-on-year, which is a nice number. Also for the third quarter we still raised roughly 150% growth on the top line revenues, which is nice. On the EBITDA, we took maybe larger steps towards break-even and profitability than on the previous quarters this year, so we're definitely headed in the right direction.
This is well in line with our goals for the year where we're seeking to grow the business of course, and also while doing so, work our way step by step towards break-even and profitability. Basically about the events during the quarter, there was so many different things. On the service business side
There was so many-
We signed new deals.
I think the key thing is that there was lots of events, but while we were capable of keeping and further developing our multi development model.
Yeah
We've been focusing on bigger and bigger projects.
Yes. Yes
... on our own, kind of launching the bigger and bigger projects and with our customers.
Yeah. Yeah.
Serving the bigger customers, bigger projects and, it seems that, while having that risk management tool to run several projects at the same time, creating bigger and bigger projects at the same time.
Yeah. Yeah.
That was like a trend on a quarter.
Yeah. I think that reflects very well if you look at the report like throughout it. We're of course gonna go through all the details in this webcast as well, but overall if you look at the picture, we've been hiring some new key talent into the team without increasing our overall headcount too much during the quarter. We've been working with less and less projects in terms of quantity, but more and more in terms of like quality and revenues.
Size. Yeah.
All of this is possible because of our flexible model where we work with external studios and we're able to do those commission-based and then we, like you said, we're working towards bigger and better projects all the time. This is all well headed again towards our vision, where we wanna be the household name specifically on the shooter category, and it doesn't hurt us that those projects tend to get bigger and more expensive to do because we get paid for doing so.
During the period we also introduced kind of new Business Model for us. We acquired a mobile game from Doomsday ApS.
Yea.h. Yes. Yes
I.ntroduced kind of new way of creating value in Nitro by utilizing our excellent partner network of developers and when we find some good games from there are opportunities to acquire them or publish them.
Yeah
Monetize them through our publishing and marketing pipeline.
Yeah.
And that was kind of-
We'll talk more about that when we get to the process, but I think.
Yeah
That's a good thing for this quarter because while it reflects obviously as additional costs now, it also means that suddenly we have a new sort of revenue stream for next year.
Exactly
when we're gonna launch the game.
Last but not the least, we celebrated our 15-year anniversary.
Yes. Yes. Yes. Exactly.
During the period and I saw one CEO playing guitar on a stage, and that was lots of fun.
Yeah, it was a fun evening. We had all of our team and some of our industry friends joining us in Helsinki in September when we celebrated and somebody smuggled in some musical instruments to the party as well, so. But that's enough about that. Let's go forward and see what all cool things happened. To begin, our most valuable asset, as we like to say, is our team. Like I said in the beginning, we're a very much multinational team, both here in-house in Finland, where we have two studios, roughly 60 people, and then also through our partner network globally. Basically, what's Q3, what was the focus point or what continues to be the focus point Q4 moving forward as well, is to constantly develop ourselves to be better.
Like, what that means is that there's no one in Nitro, not in Finland, not in any other country, who would not be constantly striving to become better. Like, I'm educating myself, Antti is doing the same, the whole team is doing the same. We're seeking to have better and better people all the time, better and better partners. That's a constant process. That's also reflecting in our recruitment, for example. We pretty much constantly have open positions because we want to be better and more senior all the time.
It seems that our reputation is growing.
Definitely. Yeah.
as employee, and it's not only because of the very interesting projects that we are running, but it's also because of very well-working people operations.
Yeah
that we have in the company. Its team is not just a bunch of people, but it's like a leadership that is all the time developed and then the people ops that takes care of the development of the team members and sparring and motivation.
Yeah
Of the people and all sorts of feedback channels that we have created within the team and the management.
Yeah
I would say that the people ops in general and investing into the people ops have been very good and big important part of-
Yeah
Having this great team.
That's how to say, kind of like the secret sauce to our scalable fashion. Like, we're able to increase the size of the business much more than we increase the investments into resourcing in general.
At the same time, when we are putting lots of effort on our own team, we are also putting lots of effort on our partner network.
Yeah
Evaluating those companies, motivating them, helping them to use our tools and processes.
Yeah
Being kind of much more clear with our expectations all the time and-
Yeah
Trying to make a cooperation as fluid and solid as possible.
Yeah. Overall, during the third quarter, like basically after, during and after the summer actually, the focus was very heavily in staffing pretty much with everything because, y ou know, with our own games, we headed towards launch phase with NERF, which we now obviously launched. With the partner process start, the demands got bigger and bigger, so we needed more people and more talent in the process. We started some new ones, so it was very active in terms of staffing, whether it's with our in-house people or through our partners. Which pretty much likely continues to be the case.
Yeah.
For the fourth quarter as well. If we check the big picture, the owners and strategy here in Nitro, we have always said that we have a very strong foundation because that very much is the case. We're part of the Egmont Group and part of the Nordisk Games family of fantastic game companies. Nordisk Games invested EUR 2 million in Nitro during the third quarter, which was very much welcome because it allowed us to explore this new Business Mode l that we were talking about, where we are actually acquiring games from third-party developers. We'll talk more about what that means for Nitro a little bit later on in the webcast, but that was definitely a welcome addition, especially since we got it with pretty good terms.
Yeah
In this today's world.
From the very good-
Yeah
Very good partner that we-
Yeah
Collaborate now with the game.
Yeah. Yeah. That I think is a fine demonstration of the foundation that we have and why it's so.
Yeah
Beneficial, not just for operations, but for all the shareholders as well. Then, we got a new shareholder, Susanna, who's in our board.
Yeah. That was very nice.
Yeah. Yeah.
Very good addition to our board. We just had a meeting and she's so wonderful and giving lots of good feedback.
Yeah
Hints and tips.
Yeah
Tips for the operations and bringing lots of knowledge into the board also.
Yeah. Maybe worth highlighting that we also have quite a lot of our shareholders, mostly in Sweden I guess, who are very active in terms of reaching out directly to Nitro or to any of our game teams and so on. That's the type of community that we very much enjoy being part of because, obviously, you know, we can't maybe share everything that people want to know all the time, but still I think the active dialogue that we have with so many of our shareholders, that's been really, really great, still during the third quarter, it seems that the sort of pace amount just keeps increasing.
Yeah.
People get more and more involved. Yeah.
Even got some gifts to our office and the team has been like really
Yeah. Yeah
Happy and excited.
Yeah
A bout that kind of-
Fantastic. Thank you so much.
Thank you.
For your support. About the strategy. We have a two-legged, twofold, whatever you want to call it, strategy, where the first point is our game portfolio of Action & Shooter Games . This is basically where we do the investments, where we take the biggest risk and seek for the biggest possible upside as well. We have our-
The other side being our service, B2B service.
Yeah.
Service business, where we then, again, look all the time better and bigger projects that are serving our strategy, that are serving to educate our team to become better. In that area also, there are bigger and nicer projects all the time. Expectation is growing in that area definitely.
Yeah.
As the market is developing into the direction of bigger mobile cross-play projects on a shooter and action categories.
Yeah. I'm happy to say that, third quarter finally, started the trend where we saw growth in both-
Yeah.
Legs of the strategy. So far it's been very much the service business.
Yeah.
Pprovided the growth. Now when we started the game launches and, there's, you know, as we move forward, hopefully more to come. Now we've got growth from both legs of the strategy, and we are following pretty much the same, like you said, the mindset with both that we focus on the winners, focus on the best ones, focus on the biggest ones, and that's exactly how we work here in Nitro with our data-driven process that we take several shots and then we isolate and work on that.
Yeah. Sometimes it might take even some time to identify the winners.
Yeah.
Even after identifying, finding the one that we are betting, it might take some time to run through the proper data, the data-driven development of clones and.
Yeah.
Launch phase.
Yeah. I think we'll talk more about the process once we get to that part, which is actually coming up next. Our project portfolio. This time we thought that we'd simplify the view a little bit, to demonstrate what it means when we actually focus on the bigger ones and focus on the winners. Overall, in the portfolio, what we're seeing is more balancing between our games and the B2B Service Business. Overall, we have now less boxes here than on the previous time, and that's because several of the smaller things we've either completed or then the other parties have completed during that third quarter and so on. We've kind of like gotten rid of a lot of that.
Overall, since most of the smaller things, especially those with more R&D nature like the HTML5 stuff and so on, that we work with external studios, it doesn't impact our work here, in our in-house studios too much. Basically now with service business, we'll talk more about the process, but overall what we're seeing is that we are getting some of the process closer to completion and some of the process also closer to launching next year, which is fantastic.
Go close on.
Yeah. Yeah.
Conclusion points. Yeah.
Yeah. Speaking of launches, NERF: Superblast, we launched that towards the end of the quarter in September. That means that we didn't exactly get one full month of our live stuff into our report, but close to that. We're pretty damn stoked about how things are going so far because obviously the brand is working. It's so fantastic because it like the moment you see Nerf Blasters, you know exactly what the game is about and-
Brand is wo.rking very well.
Yeah
Especially on what comes into the influencer marketing.
Yeah.
A nd organic marketing and that sort of thing. I think good to remember is that even when we launched the game, it's like a launch period t hat will last for quite a big period.
Yeah.
O f time. As we are following strictly our data-driven model, we do not rush. Even we might have seen-
Yeah. Yeah.
Some light somewhere.
Yeah.
Let's validate every corner. Now we are pretty confident the technical side of the things are checked.
Yeah. Yeah.
T hey work. Now entering into the testing the rest of the areas from the-
Yeah.
Potentially scalable Free-to-Play game.
Yeah.
Starting to see the first weeks of the longer traction and
Yeah.
That kind of things and-
Yeah.
Moving into the performance.
Yeah. Overall, there would be like if we would be the type of guys who love bragging. Well, of course, we a little bit do, but like overall, there would be so many cool things to say about the game. Like, the user ratings were insanely good.
They are.
To begin with and still are. They haven't disappeared anywhere. We got featured by all the platforms we launched the game in. The technical performance of the game has been stellar, like no major issues to talk about. Like everything's gone super well in the beginning. In addition to that, it's so nice to see that with NERF: Superblast, we have a game that monetizes from the get-go. Like, big part of the monetization happens already during the first day of gameplay and just continues after that.
Having a game where you actually monetize your players from the beginning is very important because it means that you get more immediate response to different activities. Whether it's about balancing the game, whether it's about providing some new offers or whatever it could be, it makes a lot of things easier in a way, and it helps us to focus on exactly what you said, that right now we're starting to get to the point where we have a little bit of more than one month from the initial s tarting of the launch phase. We start to get to see the little bit longer-term data on performance as well.
And even the-
Yeah.
Even the bigger influencer campaigns that we have planned for the launch period, they didn't happen during
Yeah. We started with-
[Inaudible] One way ago.
Yeah.
Which is obviously after the third quarter and stuff. There's cool stuff happening and, well, we are headed to New York actually, tomorrow..
Tomorrow meeting with Hasbro and discuss about the-
Yeah.
Future collaboration within the game. Then they have seen the results and
Yeah.
We have seen the results and-
Yeah.
I think we are going to have a very nice discussion how to boost the game together.
Yes. For the sake of reality check, we've only started the launch phase now. It's gonna take several months, and the next months will be super exciting as we get to see and explore how far we can get with this game. So far so good. New unannounced shooter game. This is obviously the one that we acquired during the quarter. Like I said earlier, we then put the team actively on that. Part of the team came from Doomsday side and part of the team from Nitro side, and this is now something that's in production phase. For this year, this process is nothing but costs. We're anticipating soft launch next year and obviously, you know, the full launch after that as well. What makes this so special? Why should we care?
Why are the guys so damn excited about this is that we've been working with these guys and quite a few other studios as well, following our process and testing different games and sort of measuring. The idea there is that since we have a fantastic machine for publishing and the data-driven process, we also work with cool promising games and teams from other places as well. When we see something really promising, then we're able to validate it with exactly the same methods that we do internally as well.
It wasn't a kind of lucky accident that.
Yeah. Yeah.
We end up even with this game and with this team.
I think we worked two years on this.
Two years at least following and evaluating the progress of the product. That said, comparing it against 150-
Yeah. Yeah.
200 other games that we've been evaluating during the years. Some of them are our games and some of the games from other-
Yeah.
Studios. It's a little bit different take on toward our strategy, but still fits very well.
Yeah.
Into the vision and strategy even though.
Yeah.
Even though it's not exactly the same kind of game that we've been releasing before.
Yeah. Yeah, definitely. There's something new coming up on that front. In terms of expectations, I think this is something where, given that we've been following it already for a while and the game didn't exactly start the production now, but it's been in production already before we acquired it, we are targeting, of course, pretty fast time to market with this overall, which is fantastic if you ask me. In addition to these two, naturally we constantly have our MVP process ongoing. We're testing other games from other studios, our own stuff. We still have cool things going on with the leading social media platform we've been discussing earlier. But those we left out from here internally because we thought that it's better to talk more about those once something dramatic actually starts to happen.
Meanwhile, those are not playing too active role in our production. There's not much we can do in our hands at the moment. We have some cool new ideas in the early stages of the funnel, but those will definitely be next year until we talk more about those.
Yeah.
On the B2B Service Business project side, with Digital Extremes, we have our largest project now, and that was insanely active during the third quarter. We met with them several times in different places and the project got pushed forward. While we can't yet talk about what it actually is and so on, I think we're getting closer and closer to the point when we actually can, and that's awesome because that will then bring a lot of clarity into what the guys mean when they talk about, you know.
Why we have been so excited.
Yeah.
It might be even so that the customer is telling something.
Yeah. Yeah. We'll see.
Someday.
We'll see. Then we have our friends in Supermassive Games who are part of the same Nordisk Games family. With them we also have a large project where we're bringing their IP on mobile. Again, something that we can't talk too much about yet. That's pretty cool once you get to see it. That will probably also happen sooner than later.
As with Digital Extremes, having quite a lot of learn now workshops and-
Yeah.
like being very, very close in the planning and executing the plan, which is a signal that everything is going well.
Yeah.
Into the right direction.
As third one, we have the U.S.-.based mobile games publisher who we work with, and this is a little bit shorter project. This we signed just before the quarter.
Yeah.
This is already now at a point where we're preparing to conclude on the project now this year. This is a little bit shorter one, but also smaller one in order value.
Yeah.
This is part of the top of our game development services where we don't even expect to be able to communicate. Some stuff that we do is.
Yeah.
What do you call it? Like white label.
Yeah.
Where we-
Might be a client that, typically, the client who is coming and going.
Yeah. With these guys we've been. I think it's this now fifth project we do with them, so they've been returning every now and then, so you never know what happens in the future. Like we discussed in the report, the sort of smaller service business things, we still might do those from time to time. Some of those go maybe under the radar, but in general, we are definitely seeking to focus on more ambitious and more bigger projects moving forward. What else? Yes. Business development. We were supposed to remind everybody that we are still staying very much active on that front, so we're definitely not done yet. Exactly.
It would not be a financial report if we did not talk about financials. Let's have a look-see at our Income Statement, where it seems like we have a typo that's obviously supposed to say Q3, not Q2. Apologies for that. If we look at from July to September, so the actual third quarter, we made EUR 2.4 million in revenues, which is close to the amount of what we made last year, the whole year combined. Like we said in the beginning, the growth rates were pretty nice because if we look at the third quarter year-on-year, it's 150% roughly.
If we look at from January to end of September, it's 250-ish% roughly on the top line. Even though we're still in the red when it comes to the P&L, and EBITDA and EBIT, we're definitely headed in the right direction. This is mostly due to the planned investments into our own games, which includes obviously NERF: Superblast and everything associated with the launch phase marketing and stuff, and of course the new game.
New game.
W hich we don't mention by name yet. If we look at the same thing, the revenue and EBITDA development with sort of our pillars, I think it becomes more and more evident that our focus is still very much in making sure that we continue growing our top line because we're nowhere near the levels where we want to be. That's fueled both by our service business and bigger and better approaches moving forward that we're seeking to have, as well as through our game launches. Like we said earlier when we spoke about the strategy, third quarter was now the first one where we actually started seeing growth coming from both.
Exactly.
Both businesses. Parallel to that, we're driving our EBITDA towards break-even and towards profitability, but still delivering overall growth, is very much the priority number one now.
It might be that there is some investments.
Yeah. Yeah.
Kind of things coming in our future still.
Yeah. If we look at the higher level roadmap, this is the slide that we intentionally do not change during the year usually, just to keep it obviously.
Yeah. Doesn't change.
Transparent in a way that how we're progressing against what we set out to do in the early parts of the year. Again, last year was all about expanding our app portfolio, and now this year is all about making the most out of the portfolio that we expanded last year.
Like, yes, last year we were like proved that the concept of two-dimensional strategy works.
Yeah.
Now we prove that the business of the two-dimensional strategy.
Yeah.
Works. I think that in that sense kind of last period was really good to prove. It proven that it works.
Yeah, definitely. The big focus points for the year are game launches and then B2B process and delivering growth on there. Obviously with game launches, we just started the launch phase for NERF: Superblast. There's so many test launches that we've done and all that. With B2B process, we kept signing, you know, bigger and better deals also with new customers and with returning customers. I think-
I think the returning customers are something.
Yeah
That we didn't mention too much, but I think that also shows that our model works.
Yeah. Yeah.
That the customers are coming back.
Yeah, definitely.
Time after time.
Definitely. For this year, I think even though we still have, you know, some time to go, I think it's safe to say that we're very much determined to deliver on what we set out to do this year. Moving forward to next year, we are definitely on our way towards our vision. We're not rushing things. We're taking things step by step, making sure that we go forward, validating every step as we go and so on. That means that step by step, you can expect us to continue towards our vision of becoming the household name in the category of shooter games on mobile. Next year in general, we're gonna be operating live games with our game portfolio.
We're gonna be working with some of the best partners in the B2B Service Business. We are very much looking to deliver scalable growth and shareholder value by doing so.
Exactly. While keeping the innovation pipeline with the new products.
Yeah. There will very likely be some, yeah, the new stuff. Yes.
Yeah.
Yes. Cool.
Cool.
That means that we are approaching the end of this webcast, and next it's time for questions. This time we have some questions in the new all-awesome setup that we have, and then we also have some questions in email. Let's take from email first. Yes. We are supposed to share updates on the roadmap for Lootland and the leading social media game. With Lootland, it's dead easy. The game is currently on hold. Like we said in the previous report, I think.
Yeah.
Because our focus is very much right now on NERF: Superblast and the launch phase with that. With Lootland, we pretty likely will conclude something still during the year how we wanna go forward with that one. As of now, you know, we're not actively doing anything other than maybe talking with few-
There are few after discussions going on.
Yeah. In terms of production or anything, we're
No.
That the game is on hold. The leading social media, pretty much the same thing. We've actually done everything we were supposed to do. There's been a lot of testing, but we are pretty much waiting for the other party to conclude on certain things on their end. Not directly related to, you know, what we're doing, but to their initiatives overall. That's pretty much it. Time will tell.
In general, we've seen a bit of a turbulent times on social media.
Yes. Yes
Some platforms are withdrawing and some platforms are investing.
Yeah.
In that.
I think that's something that we expect to see moving forward as well, that quite a few of the different type of social media platforms and other platforms too that can have gaming incorporated, they are still kind of like seeking their way into it, like what we learned recently about Netflix, little bit changing their direction towards
Yeah.
Cloud gaming and all that. We expect volatility on that front moving forward. There's a question about how the two Snapchat games, My Life, which we launched in August, and Blast Heroes that we launched in March, are performing. Can we give some color on those discontinued games? What are we doing with the resources that worked with them? Long story short, we don't expect anything from My Life or Blast Heroes in terms of performance because, unfortunately, during the third quarter, we learned that Snap has decided to shut down their games business. What that essentially means is that they're winding down the games on the platforms.
We are not in position to comment too much on anything there at this point. Naturally, you know, our games, we might want to do something with them moving forward, but if that happens at some point. We'll let you guys know, of course. As of now, we've completely sort of toned down all expectations about that because there's no marketplace soon anymore. In terms of resourcing-
There are other platforms.
Yeah, yeah. Definitely.
That can be used.
Definitely. In terms of resourcing, this doesn't impact us too much because these were titles that we produced with one of our external-
Big partners, yeah.
External partners. It doesn't have an impact on sort of internal teams in pretty much any way. How much of marketing push UA spend have we done on Nerf? Can we talk a little bit about the monetization of the game? Yes, we can. Marketing push, we've done a little bit. We've basically been doing the sort of beginning of the launch phase rollout where we advertise the game on different platforms.
Yeah. Well, traditional way.
We started the first influencers and stuff, but most of those things are, like, happening after the quarter, like we said earlier. Like the PDK Films are just now starting and so on. We've done some, but not much yet, to be honest, because we wanna take things calmly and step by step. Monetization of the game, like we said earlier.
Early monetization.
We've been really happy.
Yeah.
To see strong monetization from the get-go, which is, well, let's put it this way. We haven't seen it with our games in the past.
Yeah.
Like, some of the.m have monetized a little bit at the beginning, but that's usually been the pain point that you need to wait for a while.
Yeah
Until you start to see it. With this one, it's completely different.
If any game comes into the point where advertising spend is returning relatively fast.
Yeah.
It means that you can kind of reinvest.
Yeah.
A nd reinvest-
Yeah.
The money into the
Yeah
Into the game.
Yeah. Obviously, the sort of long-term monetization that only time will tell.
Yeah
We're just getting started, but still. Can you tell us a bit about the revenues of NERF: Superblast that have been and how you see the future? We don't specify the segmentation of our revenues in our interim reports. That's the official answer. Like we said, we just launched it towards the end of the quarter, so obviously, we're only getting started with the game. Let's leave it at that. Next one. NERF: Superblast has now been out almost two months, and I guess we're satisfied by what we see.
Yes, we are. Where do you see it one year from now? Do you expect it to compete with Brawl Stars? Okay, that's a bold question. One year from now, obviously, we expect the game to be live and continue growing. To be competing with Brawl Stars, just for the sake of reference, Brawl Stars is one of the leading games in this business that's been on the market for several years. Brawl Stars took, what? Almost 24 months to climb up the ranks.
Yeah. Rough with them. Yeah.
Took one year to even start climbing and so on.
Yeah.
Depends on whether you wanna compare Nerf to Brawl Stars in the beginning with Brawl Stars as of how it stands today. Those are two completely different pictures. Usually.
It-
We don't like to compare against industry-leading games too much because those are games that are in their own league, and that's a result of several years of hard work and labor. With Nerf, we're only getting started now. One year from now, we're expecting fantastic and awesome things, of course. We wanna be realistic and take it step by step.
Naturally, we are competing, if not any other fields, but the user acquisition-
Yeah.
Because we are targeting-
Yeah.
At least partially the same.
Yeah.
Same customer base.
Kindly don't interrupt each other.
Okay.
While speaking in between. We do that a lot.
Okay.
We need to improve our game there.
Yes.
Analyst prediction was EUR 2.99 million for Q3. What is your take on lower than expected figure you delivered in Q3? Well, to be honest, we don't compare our own expectations towards what third-party analysts are expecting, so we don't really have comments on that. Here in Nitro, we were pretty happy with the growth that we delivered this quarter, and we are definitely focusing on the long term, and we take it step by step towards profitability and break even. That's our take on that.
Direction is definitely correct.
Yes. Yes.
Now you interrupted me.
Very good point. Let me see. I think that's all the questions. Yes. Awesome. That means that we are done.
Time for [Foreign language] tusen takk.
[Foreign language] Tusen takk. We'll see you guys next year when we-
Yeah, yeah.
Roll out the year-end report.
Yes.
Awesome.
Thank you.
Meanwhile-
Have a great autumn.
Have a good one. Bye bye.
Bye bye.