Hello!
Hello. Good morning. Happy New Year.
Exactly. Good morning, hyvä huomenta, and welcome to the first webcast this year.
We are back in action.
Indeed, indeed. I'm Jussi Tähtinen, the CEO and co-founder of Nitro Games, and with me we have-
Antti Villanen. I'm a co-founder together with the Jussi, and Chief Strategy Officer. Just count it that this is our seventeenth year together starting this year.
Yeah, after the summer, we're celebrating 17 years anniversary, so i t's been a long time.
It's been a while.
Yes, but like they say, the best years for us are still ahead of us. Today, we're here to deliver the results for the last quarter of 2023, and kind of like wrapping up the whole year, 2023, in connection with that. Then we're also gonna talk a little bit about what's ahead of us this year.
One event after the break.
Yeah, exactly. And, for those of you who might be new to Nitro, we are your household name when it comes to action and shooter games. We used to say on mobile, but, recently we've been focusing more and more on other platforms as well.
Last year, all of our products were following our vision with, being a shooter and action games on various platforms.
Yeah, yeah, that's true. That's true. And I think that's one of the biggest achievements of last year, that we were able to navigate through the year with our project portfolio in a way that everything basically stands for our vision. And in addition to that, I'm extremely happy to see that we successfully managed to turn our B2B service business into cross-platform business.
Exactly.
So it's no longer just about mobile.
We are capable of utilizing our history. As we started as a PC developer, we did some console games, and now it seems that plays very well in our benefit as the games are going into the cross-platform and multi-platform direction.
Yeah, yeah. This time we're not gonna be boring you with sort of what's happening on the market in terms of slides and numbers and stuff, because we are sure that you all know where those stand at the moment. So overall, the whole gaming industry wasn't growing last year. It was slight decline. Many people call that a COVID hangover effect because during COVID, things went up. Mobile games is still roughly half of the market, but the thing that's really interesting when you think about Nitro in that context is that shooters are and continue to be the leading category. So we are very happy about that, and the whole expansion on mobile has progressed, you know, as well as we could dream of earlier, so-
And it seems that the mobile shooters will be dominating, being one of the dominating genres or category going forward.
Yeah.
Now, lots of AA and AA A shooter IPs are entering into the mobile space also.
Yeah, yeah.
That is the natural place for us to shine.
Yeah, yeah, and something that's still not resolved yet is that whether we are gonna be seeing this type of duality on the market that we're seeing now, where we have big brand cross-platform shooters that also have a mobile extension or a mobile version, and in addition to that, we have mobile exclusive title like for, for example, Autogun Heroes, our own game.
Yeah.
So it's gonna be interesting to see if this duality, in a way continues moving forward.
I have a feeling that there might be games that are starting on the mobile, so mobile first and then expanding into the PC or console.
Yeah. So Nitro Games, action and shooter games, that's us. And then in terms of recent highlights, I'm sure you've probably already seen the report, and we also this time published some of the key figures in advance. And the big thing during the fourth quarter last year was that we turned Nitro Games on the black.
It was a very big milestone for us and we are very, very happy about that milestone.
Yeah. And, if you remember, our theme last year was all about, step by step towards profitability. So that's what we now achieved during the fourth quarter, and it was a result of both top-line revenues growth and also careful cost control that we continued during the fourth quarter.
That leaves very good, solid foundation for 2024.
Yeah, yeah, yeah. Especially the cash position means that we have pretty much options how we wanna go about this year now. And we'll talk more about those things later on in the presentation. In terms of significant events during the quarter, obviously, the agreement with Netflix was one of those, because it was the biggest agreement I think we've ever done in terms of order value. It's a project that we're very excited about, even though we can't talk about it too much publicly yet, but it's a spot-on match to what we want to do.
Exactly, and hits to our vision very, very well.
Yeah, yeah.
After the period, there has been also some significant events, and, I think, one being that, Mr. Jussi Immonen has taken a role in more in the commercial side of the business now that he and his team has been building the marketing and publishing capabilities to Nitro. For some years, now it's time to start capitalizing those and commercializing those and, there has been first results out of those activities already, already now early this year.
Yeah. Yeah, I'm really happy with how we focused on, finding and securing the partnership for Autogun Heroes. We're gonna talk about Autogun Heroes in more detail in this webcast as well, but that was one of the big things for us after the reporting period, to get the game out from the launch phase and figure out the best strategy for the live operation space. So that's something we're super excited about.
Also, deepening the collaboration with one of our key customer and partner, Digital Extremes, and we secured a new continuous deal with them, continuing and deepening the collaboration with them.
Yeah.
Digital Extremes, and that's something that we are very, very proud and happy, and that shows that what we are offering is something that resonates very well on big companies that have big IPs, like really huge champions.
Yeah. I'm proud of that partnership because it has been super demanding for Nitro in terms of us flexing our muscles and delivering high quality, especially when it comes to the technology side of things and, getting, you know... Well, you will see things when they actually come live, yeah.
Production value and all the fidelity on the screen. It's—
That's something that I'm sure it is a big thing in the CV of many of our developers. Overall, as a result of the fourth quarter, we would of course want to thank you, and with you meaning you, my dear co-founder, and all our employees, past and present, and all our partners all our shareholders.
Stakeholders.
Stakeholders, yes. So it's been quite-
Wouldn't be possible without the continuous support of from all fronts. So big thank you for it to all.
And then let's go forward, in terms of, this year.
We always have a kind of focus theme for the for the year, and last year it was all about toward profitability, and that was something that we then achieved on the last quarter. Now we are heading to new theme of the year.
Yeah.
And, you wanna tell people about that one?
So the theme this year is stable growth, and what that means for us is that we're obviously seeking stable growth. The reason why we wanted to put the word stable at first is that this year for Nitro is all about prioritizing stability over overly ambitious growth things. In terms of context, when we look at this, how we put it on the timeline with our strategy, makes perfect sense. Because last year was all about getting our portfolio to be aligned with our vision, like we discussed earlier. We succeeded with that, while at the same time making sure that our finances are aligned with what's happening in the world at the moment. So we want to make sure that we're in position, that we're not stressed in terms of funding or anything like that.
We want to make sure that now that we've built a foundation, we've achieved profitability, we continue building on top of that. That's not to say that we will slow down in any way, but we wanna make sure that we take things carefully, because based on everything we're seeing and hearing, it looks like the world around us is not exactly necessarily a happy place this year. There's still probably going to be turbulence and bad news in the industry overall, much like we've already heard from the industry earlier this year. So we wanna make sure-
Even in the relatively news, there are some highlights here and there.
Yeah.
Some of the big companies have been doing a little bit better late last year, but still, I think, looking for stability is the way to go and, growing on top of that. And I think those two combined is a perfect theme for this year and, especially for us.
Yeah.
I think our team composition and how we have built the whole team structure with our very solid core internal team and the partner network around that it's something that supports the theme. And we have a scalability component within our external partners, and then we have a very solid core internal team.
Yeah, yeah. And I think that that's the ideal foundation that you want to have for this year, because you wanna make sure that you are in a stable financial position. I think our, our cash position at the end of the year means that we, we are stable on that front as much as we can be.
Yeah.
The business has now improved. We've been super careful with the costs and taking things step by step to the right direction. Now looking a little bit further, like even beyond 2024, we believe that as soon as this year is done and the industry again stabilizes a little bit more, the ones who come out from this year as strong companies are going to be the winners for many, many years to come.
Absolutely.
So we, of course, want to be one of those. And then, if we look at our setup, we have... You mentioned the team being in a super strong shape. During last year overall, we continued expanding and building on our global scalable talent pool. And this is something that we have discussed about earlier, but we want to repeat this because we think that this is the secret sauce in Nitro.
The secret sauce and the unique angle how we approach on scaling up and sometimes scaling down the team sizes. And, it's very well also received within our partners. And, we thought years back that there could be a little bit objections from the partners, but now everybody is more or less trying to copy our model and embracing our model as it creates a solid risk management tools also us.
Yeah. Essentially, how this thing works is that we have two studios in Finland. We want to keep our core team as stable as possible. We focus on having the best professionals, usually the project leads and senior developers and senior artists and senior designers in the in-house team. Then when we start a new project, we bundle together our in-house staff and then people from our external partners network, and that means that we're able to scale up and down, like you said, depending on what the need is, but also to make sure that we have the best possible talent available, and also gives us, conveniently, the ability to work on multiple time zones. So all of this is perfect for us in terms of the type of business that we do.
The multiple projects.
Yeah.
We see some of our peers having a challenge of having several projects at the same time, but that has never been a challenge or problem for us because of the model.
Yes. Speaking of projects, let's have a look-see. So, one of the big things coming out from last year was that we now have our project portfolio, which is fully aligned with our vision. So action and shooter games, that's what there is. Autogun Heroes is now something that we're busy moving from launch phase to the live phase. We're gonna talk a little bit more about that in a second.
Yeah.
So let's leave that for now. In our games business, we also have Nerf Superb last, our partnership with Hasbro, where we have licensed their blasters in our first-person blaster, real-time synchronous multiplayer game. And that's a game that we intentionally reduced investments on last year. This was part of the cost control and us focusing on Autogun Heroes. And, as a result, Nerf contributed a little bit less than 25% when it comes to our games business revenues last year in total. And, this year, from the beginning of the year, we intend to keep things the same way. But when we look at the games business as a whole this year and moving forward, we're seeking to do two things. One is that we're seeking to commercialize anything and everything in our game portfolio. Also, some unannounced things that we haven't yet announced through partnerships. So that's a mix that-
Also, also some of the back catalog things and we have some opportunities on that area. And even in jumping in to commercializing these things is, is a natural fit, as, as he has very wide network in, within the industry. And, I'm quite sure that we can see more about this kind of deals happening within our games business also.
Yeah. We are seeking to find clever ways of increasing the size of our games portfolio without going too heavily into an investment mode, because we understand that in this climate, nobody wants to see too heavy investments at the moment leading into losses or anything like that. We want to be clever about how we handle things financially on that front.
Mm-hmm.
On the B2B service business side, we're super proud to work on Warframe with Digital Extremes.
Deepening that collaboration, it's been already quite a long journey. Hoping that we will see also where that journey leads us. But what is kind of obvious already now with the extension of the collaboration, it is a kind of long-term, collaboration, and, that is naturally something that we are looking from Netflix cooperation also. And it's easy to see that, as the deal value was such a big, that it will last for, some time, the collaboration. And, on top of the existing partnership, we are naturally busy looking for new partners and, new clients. And, our BD is very, very active on the market looking for the opportunities.
Yeah. And, if we would summarize our plans, how this ties into the stable growth thing this year is that, with the existing two big partnerships we have with Digital Extremes and with Netflix, we're seeking longer term. We're seeking to make sure that we deliver quality and, make the most out of those, much like we have done thus far as well. And on top of that, we do believe that no matter what's happening in the world, there will always be opportunities in the business development and new project opportunities for the best companies out there.
Yeah.
I think we have shown over the years that if there are deals available, if there are new opportunities available, we are there to fight for those.
Yeah.
That's something that we definitely continue doing this year, like you said as well.
Our kind of reference value from the previous and existing projects, it's kind of growing all the time as there are kind of Triple A games, like, Warframe, that we can say that we've been working on such a big game.
Yeah.
Those reference value is playing on our benefit when we are talking about new, bigger projects.
Yeah. And then, we've gotten a lot of questions and comments and feedback and input about Autogun Heroes over the, well, for many months now already.
Yeah.
So let's talk a little bit about that.
We are basically in a transition period from the launch phase to live ops phase.
Yes.
And, it's like, always any transition period, it, lots of unknowns, but then we've been capable of tackling several of the main risks already with now with the great partnerships and and also with the KPIs that we have been able to collect from the market and I think it will be smooth transition from the launch phase to the live ops phase.
Yeah, yeah. And quite a lot of the questions, actually, that we have received have been about that, how are things going? Are they going as planned? And, like, where are you guys going and those type of things. And that's why we thought that we wanna show again, this old slide or slightly updated version of the old slide, but still, we've spoken about this before. But with Autogun Heroes, we have a roadmap for many, many years. It's a long-term mindset that we have with that one. But up to this point so far, where we're going right now is this transitioning phase between these two orange arrows here. So we're busy completing the launch phase. What that means is that we have already done the scale-up of the game earlier, last year. We've done, or not done, but we've seen revenue growth as a result. We've been further developing the game.
With the real, real data that we are getting from the real players not just, our design or plans but actually, the players are affecting what are the features and the balance that the game game needs to be scalable.
Yeah. And of course, it's fantastic to see revenue growth during this launch phase, but that's not the real beef. The real beef of the launch phase is to prepare the game for the long run, make sure that we understand the customers in larger scale. We understand the customers in longer life cycle as well, going first to 30 days where we were before the launch phase, then expanding to 60 days, 90 days, 120 days, and so on. And make sure that we know what we have in our hands so that we can come up with the ideal setup for the live operations.
Exactly. These kind of games, even though now we've been working for few years, but the life cycle of this kind of game can be 5 years or 7 years on a live operation. So in a sense, we've been working with the game quite a long time already but still, it's like only a scratch of the whole life cycle.
Yeah.
And now we are actually entering into the live phase of the game.
Yeah, and if you are following the game closely in our game channels, like social media, game Discords, and stuff, you will see that there's still some key features coming up to the game now, beginning of this year.
Yeah.
So cool stuff. But if we look at the launch phase, so let's first summarize the launch phase and then discuss about the live ops phase after that. So we summarize the launch phase. We're approaching the end of that, and what that means is that we still have some updates that we wanna push out. We still have little bit of data to collect, but majority of that is already there. And we have some preparations for the live phase, which we will talk more about on the... once we get to the next slide.
Yeah.
But-
It's also good to remember that even though we have a, like, a 1 million installs thus far, but there are lots of installs that have came on December and January and very late on the launch phase.
Yeah. Yeah.
Those will keep on generating the data, keep on generating the revenues going forward.
Yeah.
Even though that we are moving towards the live phase, still, those players are there and they are contributing into the game.
Yeah. And, basically, everything that we saw during the launch phase was somewhat well in line with what we thought and expected to see earlier before the launch phase started. And, something that has been characteristic for Autogun Heroes throughout the life cycle of the game has been, pretty nice retention curve.
Mm.
When we started with the game, we had pretty nice early retention curve, then we expanded to the 30 days, and so on. Now you can see how it spans all the way up to day 120.
Yeah.
That does not, however, mean that we would be satisfied with it, and we're of course seeking to constantly improve on that front and boost it up step by step like we've done thus far moving forward. But that's one element of the game that we have been pretty happy with. And then the second element that we have been happy with is the monetization side of the game, where Autogun Heroes definitely monetizes pretty early on. It monetizes nicely, both with in-app purchases and with ads.
Mm-hmm. Mm-hmm. Yeah.
So it means that there's a lot of flexibility when it comes to different type of audiences in the game, and so on. And the numbers that you're seeing on this slide, these are now the summary of the launch phase, but exactly like Antti said earlier, some of those players only just arrived in the game just now and will of course continue playing and spending, so they still have majority of their life cycle still ahead of us.
As there are-
Ahead of them, I mean.
As there are like, millions of data points, naturally, there have been something that we are more happy, and there are some that we are wanna improve some data points. But, there has been also some surprises, like, very good performing markets that we never could have thought that there are some specific market that is performing way better than others. And there has been always also this kind of like a good surprises on the performance and on the game.
Yeah. And, now when we move to the live phase, the big decision that we have now done is that, we wanna move to the live phase together with a partner. And why we want to do that is that, we want to make sure that we have a setup for the game that allows us to, make the most out of the long-term potential we are seeing in the game for many, many years to come, hopefully. And, we want to have a partner who can share the risk so that we can protect our financial short term, short term meaning this year.
Mm-hmm.
That also allows us to scale up the game, hopefully larger and faster than what we could do with our own financials.
Yeah.
Super simplify all of that means that we need somebody to deliver us downloads.
Yeah.
And, uh-
Part of our process is that, with any game that we have, we start to talk with the publishers and the different kind of UA funds and whatnot, quite early in, when we have an early initial data we already start to discuss and show that we have these kind of things coming up. And, with the Autogun Heroes, there has been lots of interest the whole period of every time that we've been testing the game and getting some results. And there was a huge amount of interest towards the game, and we have had opportunity of being quite demanding on, our negotiations and, even, even a little bit picky. And, that resulted us to finding the, I think, the best possible partner for the, for the game at the moment.
Yeah. Yeah. I wouldn't say that we were a little bit demanding, quite demanding to be honest, but I think it worked because, how to say? It's always happy if you have a lot of interest towards something, but that means that you have tons of what we call people kicking the tires who are not really, you know, buying.
Yeah.
They're just kicking the tires, so you want to get rid of that as soon as possible.
Yeah.
The best way to do that is to put the price tag up high. So that's usually the method there. But after all of those things, why then Supersonic from Unity? Well, like I said previously, we have a product, we have a team capable of delivering constant improvements like we've now seen. We have a long-term asset, so what do we need? We need downloads.
Yeah.
So that's where these guys come in. And, these guys are as good as it basically gets on this front. So, second largest in that sector. And, one-
One key thing also that they are part of Unity.
Yeah.
Well, the Autogun Heroes is developed with the Unity, and there are lots of synergies also not only the tech, but the other areas also, them being part of the Unity that we could leverage and benefit going forward.
Yeah, and when we talk about Unity, I think it's good to understand that while it is true, like many people perceive it, as a game development mm-hmm, that's, that's true. That's what it essentially is at its core. But Unity as a company and corporation includes many, many things like, advertising networks, data, users, all that stuff. So it fits perfectly-
Very well.
Yeah, it fits nicely into the ecosystem.
Yeah.
Supersonic themselves have delivered more than 5 billion downloads already.
Yeah
Over a very few years. So they know how to handle that stuff. And in this agreement, of course, as always, many of the terms that we have agreed are confidential. That's the nature of the business.
Yeah.
But the basic split is that we continue to develop the game. We continue to deliver updates, live operations, all those things that we have done thus far, whereas Supersonic is picking up the ball on user acquisition and driving downloads into the game.
We are also supporting on that area.
Yeah.
That's really bringing all the learnings that we have from the launch phase and all the tricks that we have learned that works for the game.
Yeah, and then as soon as those are done, then we share the goodie with them. We haven't gone into details about the deal terms because, like I said, they're confidential, but as Antti mentioned, we were pretty picky on that front. Overall, I would say that we can be pretty happy and excited with the outcome of this, and especially how it looks not just for this year, but for years to come, hopefully with Autogun Heroes. I think it's good that we're now moving into the direction where we go forward with that one, and it also gives us some flexibility to think about what other stuff we do with our games business and the games portfolio.
Then, let's have a look, say, on the financials from the Q4. So as we already discussed, Q4 was the quarter when we reached profitability, and this is clearly visible in terms of the pillars here and also in the numbers. The numbers are shown in this table. And if we were to summarize the developments with our financials last year in a simple fashion, I think it is that we delivered growth. But then again, top-line revenue growth is something we've been doing for years now, so that's part of the thing that we are already doing.
Yeah.
We've been discussing a lot about this step-by-step improvements towards profitability. So that now reached the goal in a way or mileston like we want to say, during the fourth quarter. What's behind those numbers is, simply put, growing the revenues while keeping the costs in control, and that is something that we have spoken a lot about, about our scalable global talent pool and how we're able to control those things. We will very likely continue to talk about that moving forward as well, because our intention is to keep things that way, that we continue to grow our top line in a stable fashion, while we keep our costs in control.
Exactly. This also lays very good foundation for this year, focused on the stable, stable growth, and I think we have a really solid and strong foundation for that one.
Indeed. And then, we wanted to also give you a sort of a little bit higher level, like not just this year, but this year and beyond. What can you expect from Nitro? What does it mean when we say we continue to live towards our vision, and also we continue to live our vision more and more every day?
As already stated, all of our current projects are within the shooter and action.
Yeah
... category on a mobile and on a cross-platform. It seems that there are bigger and more exciting opportunities in that area coming up all the time. Cross-play, cross-platform is something that seems to be one of the big trends within the whole market in coming years.
Yeah.
Our position and capabilities and also the references that we already been operating in that area, those are giving us definitely the kind of competitive edge going forward.
Yeah, and the reason why cross-platform and cross-play are expected to grow, and why we have already seen what we have seen so far in the market, is not because it's technically possible, but it's because it gives added leverage and added power to the brands. The beautiful thing about mobile games as a platform, and especially as a marketing platform, is that you're able to reach out to new audiences in a different way compared to what you can do on PC and console.
Mm-hmm.
And that's why cross-play and cross-platform makes so much sense for our games that are already in that mind and for brands. When it comes to brands, I think it's safe to say that we're working more and more with top IP. We have already done that quite a bit.
Mm-hmm.
Like, work with Hasbro now for quite a few years, worked with Warframe, with Digital Extremes, and now with Netflix, but obviously on IP case. So that's something that as the mobile games marketing and the games marketing evolves, what we're seeing more and more is that people are leveraging the power of brands because there's less and less opportunities to target database.
But there is also some skill sets and expertise that you need when you are talking and operating and working with the top-tier Hollywood brands and that. And it's not something that all of the pure game developers are not capable of handling, and it's like a commercial angle of the gaming business that you need to be capable of have been on those tables and have those discussions and understanding the IP values and brand values, and also support the needs of the brands and IP with the small part that we are operating in.
Yeah. And I think one thing that why we think Nitro is so good on that front is actually in our sort of DNA, and I think that this comes from you basically, since when we started Nitro, Antti was leading one of the biggest, and if you ask me, the best.
Digital marketing.
Sexiest digital marketing agency here in, Finland and in Baltic countries and so on. So I used to work in his company before we started Nitro Games, and that's where I think the understanding on the importance of the branding and what it means for somebody to own the brand and control that. And I think that's something that's in our DNA here in Nitro Games as we that we respect the brands. We know how to treat them in a, in a good fashion.
Yeah.
Then, last but definitely not least, that's the magic dust.
Yeah.
There always has to be a little bit of innovation and stuff. Even if we're working on an existing game or a project or existing brand or stuff, we always want to introduce little bit of magic there, and that's where I think our experience and expertise comes into play. That since we've been doing this for so long time with so many games, we figured out that where can the magic dust usually be found?
Mm.
It doesn't work always, but that's what we always see.
We've been seeing so many generations of platforms. We've been seeing so many generation of monetization models and whatnot. I think we've been, first of all, surviving all of those years, but still coming out as a reliable partner for many of the big companies. Bringing those small innovation that they change their category or genre, or bringing something new that attracts the consumers.
Yeah. Exactly. So now, we've reached the end of the sort of slide deck stuff, and now we will go into questions and answers. And-
It was quite lengthy today.
It was.
We had-
Yes
... lots of
About half an hour.
Is there any questions?
Let's see, let's see. There's questions in email. We take these first. Are we satisfied with the sales figures from the self-publishing segment, considering the lower U.S. spend in the last quarter? I think, well, yes, because it just shows the, how to say it, the power of the retention curve and how the players stay in the game. So when you materialize marketing expenses, at some point, you then collect downloads and then those downloads start to accumulate revenue over time.
Yeah.
You essentially have a vehicle where you can control your spending and, costs, with sort of understanding what's likely going to happen moving forward in the future. The next one is the service business demonstrated solid growth in the fourth quarter. What was the primary reason behind this? I think that's two.
Mm.
So one is that we signed a new deal with Warframe during the third quarter which expanded the collaboration, and obviously, a lot of that started to materialize toward the end of the year. And then, of course, we both signed and started a new project with Netflix, which is a big one. So I think it simply comes from those. Then there's a question about capital expenses. How will they evolve when Autogun Heroes enters the live operations phase? This is something where now the power of the partnership with Supersonic comes into play. So while we do continue to invest into the game in terms of development and live operations and so on, we are no longer expecting to invest in the user acquisition.
Yeah.
That means that there's a big pile that's away from our cost base.
And we can't see that the scaling up the team significantly bigger on Autogun Heroes, so there is a solid team that performs and can deliver all the updates and features required.
Definitely, yes. And then there's a question about the publishing agreement. Do we believe that we can begin allocating more resource to potential new games? Kind of yes and no in a way. So we don't want to portray the picture that we would go into heavy investment mode, like spending a lot of money. I think the answer to that would be no, at least for the time being. But we are definitely exploring new opportunities and new potential games and projects this year. But we want to do it in a clever fashion because our theme for the year is stable growth.
Mm.
So we wanna make sure that we don't go into causing too big dips because of investments. Let's see if there's anything more. There's a couple. Somebody wants to know if we expect 2024 to be the record year for Nitro regarding revenues and positive reports. Also, what do we expect from the partnership with Supersonic? We don't do financial guidance.
Mm
So we don't expect basically anything from 2024 other than we wanna continue seeing stable growth, let's put it that way. And, what do we expect from the partnership with Supersonic? Well, we're only getting started, so obviously-
But it's a very active start.
Yeah, yeah, yeah.
They've been very active from the very beginning, and the integrations and all of that is ongoing.
Yeah.
At least what we can expect that they are very active, they are very excited about the game, and they are also doing their own transition from the chart to chart.
Yeah.
We are in a very good momentum within their portfolio. So I think at least what we can expect is lots of attention and focus from there.
Yeah, yeah. Like always with Autogun and with anything we do on the game side, our focus is always on the long term. Of course, we pay attention to what happens in the short term, but anything and everything we do, we do to maximize the potential in the long run. Will you make one last try at Nerf Super Blast, or is it the way it is? With that one, like we said, we intentionally decreased investments during last year to focus our investments on Autogun Heroes, and as an aftermath it seems like it was very much the right thing to do. For this year, we are exploring and figuring out what we want to do with the game. But for the time being, we will keep our investments to Nerf Super Blast low.
We will let you know if we come up with anything else on that front. Then questions about other Autogun Heroes and Supersonic. Has Supersonic already started, or when will they start working with Autogun Heroes? Like Antti just said, yeah, they have been pretty active, and we're busy getting things started, but these things tend to take some time, but we're on it. What happened with the Supermassive project? Well, what happened is that we completed the project, I think, during the third quarter last year. Yeah, second or third. Yeah, yeah. So basically what happened is what often happens in our B2B service business. We start a project, we might do an expansion or two to the agreement, like we did with Supermassive Games, and then we conclude it, and that's it.
How much of the Netflix project will be done during 2024, approximately? Something we can't go into too much details because everything is still super classified and confidential around that project, but we are very active on that one this year, and in full, full, full sort of development speed this year. So that much we can say. Development phase. Yeah. Then someone wants to know about revenues thus far in the first quarter, and if we can expect black figures. No comments on that. No. We don't do financial guidance, so you will have to look into our past performance and try to pick up things from there instead. Yeah. I think that was the last question, so thank you all for your questions. Thank you all for tuning in, and thank you so much ...
We're now gonna go and keep working. We still have month and a half left, roughly-ish, and still some big things to achieve. Yeah. Let's make sure that this will be a good one. Okay. Thank you, and until the next time. Bye-bye.