Mumbai: NODWIN Gaming has announced its financial results for FY26 — reporting consolidated revenues of INR 658 crore, representing 25% organic year-on-year growth over FY25. The company also reported an EBITDA profit of INR 21 crore for FY26, compared to an EBITDA loss of INR 14 crore in FY25 — marking a significant financial turnaround as it advances toward IPO readiness.
The improvement in profitability was driven by a combination of strategic portfolio restructuring — including the de-consolidation of loss-making subsidiary Freaks4U — alongside strong performance across NODWIN’s live events, content, and IP businesses. The company has continued to evolve its business model around two interconnected verticals: Live and Content. Its live business spans festivals, esports tournaments, fan conventions, and brand activations, while the content business includes broadcast, scripted, and digital programming.
NODWIN’s operating model is built around a flywheel where content drives fandom and community engagement, which in turn fuels monetisation opportunities across live experiences, partnerships, commerce, and new IP creation — helping the company deepen engagement with youth audiences across emerging markets while building a diversified and scalable revenue engine.
FY26 saw strong momentum across NODWIN’s flagship live entertainment portfolio. NH7 Weekender returned with a sold-out edition in Pune following its relaunch as the “Festival of India” — reinforcing its position as one of India’s leading music and youth culture IPs. Comic Con India expanded significantly during the year, growing from eight to eleven cities, with new rollouts across Kochi, Guwahati, Gurugram, and Jaipur, alongside newer expansions in Chennai and Pune.
Globally, NODWIN continued to deepen its esports and live entertainment footprint through initiatives including the Swahili Esports Champions 2026 in Uganda and the execution of Live Matters Hong Kong 2026. The company was also appointed as India’s official National Team Partner for the inaugural Esports Nations Cup 2026 — where it will be responsible for mobilising and managing the Indian contingent representing the country at the tournament.
Key partnership developments included the launch of MLMS in partnership with MOBA Legends, the delivery of OMEN activations at CES 2026, and execution of the PUBG Mobile Club Open Eastern Europe 2026. NODWIN’s strategic investment in StarLadder also contributed to the successful execution of the Counter-Strike Major in Budapest.
The company remains focused on the Global South as its core execution market, operating through offices and partnerships spanning South Asia, Southeast Asia, Central Asia, the Middle East, Africa, and Europe.
FY26 also marked a year of meaningful internal efficiency improvements. NODWIN implemented a disciplined headcount strategy while continuing to scale output across business verticals, and expanded its internal AI initiatives — deploying over ten AI-led workflow tools across finance, HR, legal, sales, and production functions to improve execution speed and operational productivity.
As part of its IPO preparedness journey, NODWIN has strengthened its institutional and leadership capabilities through the appointments of Manish Agarwal, Arnd Benninghoff, and Sidharth Kedia to support long-term growth, capital strategy, governance, and public market readiness. The company is also currently engaged in discussions with strategic and financial investors as part of its ongoing capital raise initiatives.
Akshat Rathee, Co-Founder and Managing Director, NODWIN Gaming, said, “This has been an important milestone year for NODWIN. As we prepare for scaling up globally and our potential IPO, we have focused on building a stronger and more efficient business. We continue to scale our presence across youth culture and live entertainment across our Content and Live business lines that span gaming, esports, music and future tech. We continue to believe the opportunity ahead lies in building a global youth entertainment company rooted in the global south and emerging markets, strong community engagement, diversified monetisation, and scalable cultural IPs. As we continue strengthening our institutional structure and capital strategy, we remain focused on long-term value creation and will focus on organic and inorganic growth through deep Founder and Company integration across all we do. We pride ourselves on the fact that we retain our founders’ post earnouts and the new missions they start help us grow organically globally.”
NODWIN Gaming continues to position itself as a leading youth entertainment infrastructure platform operating at the intersection of gaming, esports, creators, live experiences, and digital culture. With a growing international footprint and an expanding portfolio of owned and operated IPs, the company remains focused on increasing its share of youth engagement across high-growth markets globally.
