Nazara Technologies (NAZARA) Q1 26/27 earnings summary

Executive summary

• Q1 FY27 marked a significant step with the announcement of Raymond Stauffer as CEO, effective September 2026, and the acceleration of the Bluetile and BestPlay acquisition for $303 million in cash, moving to immediate 100% ownership.

• Board approved revised terms for Bluetile and BestPlay acquisition, with $89 million at closing and $214 million in tranches by April 2027.

• Further investment of up to INR 9.9 Crores in Funky Monkeys Play Center to increase shareholding to 68.1%.

• Allotment of 900,000 equity shares to Founders Collective Fund upon warrant conversion, raising INR 17.55 Crores.

• Approved unaudited consolidated and standalone financial results for Q1 FY27.

Financial highlights

• Consolidated revenue was INR 429 crores, EBITDA at INR 46 crores (10.8% margin), and a PAT/net loss of INR 82 crores, mainly due to share of loss from associates and impairment loss.

• Gaming revenue increased 14% year-on-year to INR 275 crores, with an EBITDA margin of 19.5%.

• Bluetile and BestPlay reported INR 518 crores revenue and INR 55 crores EBITDA in Q1 FY27, with margin decline to 10.7% due to higher user acquisition spend.

• Segment revenues: Gaming INR 27,498 lakhs, eSports INR 2,779 lakhs, Ad tech INR 12,608 lakhs.

• Exceptional item: further impairment of INR 2,181 lakhs related to investments in real money gaming associates.

Outlook and guidance

• Bluetile and BestPlay will be consolidated from Q2 FY27, materially increasing scale, with illustrative combined Q1 FY27 revenue of INR 947 crores and EBITDA of INR 101 crores.

• Focus on scaling higher-margin products, expanding into new markets, and integrating digital and physical gaming.

• Nodwin targets 30%+ organic growth for FY27 and is progressing towards IPO readiness.