NODWIN Gaming has reported consolidated revenue of INR 658 crore (around $68.7 million) for FY26, registering a 25% organic year-on-year growth compared to FY25.
The gaming, esports, and youth entertainment company also reported an EBITDA profit of INR 21 crore ($2.2 million) in FY26, compared to an EBITDA loss of INR 14 crore ($1.46 million) in FY25. The company said the improvement came from restructuring its portfolio, including the de-consolidation of loss-making subsidiary Freaks4U, along with better performance from its live events, content, and IP businesses.
NODWIN said its business is now built around two connected verticals: Live and Content. The live business includes esports tournaments, festivals, fan conventions, and brand activations, while the content side focuses on broadcast, scripted, and digital programming.
According to the company, its business model works like a cycle that keeps growing over time: First, the company creates content that attracts fans and builds a strong community. As more people become interested and engaged, the company gets more ways to earn money through events, brand partnerships, merchandise sales, and creating new products or intellectual property (IP). These activities then help the company create even more content and attract even more fans, continuing the cycle.
NODWIN also mentioned that the company continues to focus on the Global South as its main market while also generating revenue internationally. NODWIN currently operates through offices and partnerships across South Asia, Southeast Asia, Central Asia, the Middle East, Africa, and Europe. In fact, it also appointed Teemu Koski last year as its Chief Business Officer to expand its operations in the MENA region.
The company was also named India’s official National Team Partner for the inaugural Esports Nations Cup 2026, where it will manage the Indian contingent at the tournament. The release also specifically pointed out that its investment in StarLadder contributed to the successful execution of the Counter-Strike Major in Budapest.
Finally, as the company gets closer to its IPO, it’s been adding more leaders to the team, including Manish Agarwal, Arnd Benninghoff, and Sidharth Kedia. These hires are meant to help with long-term growth, governance, capital strategy, and getting the company ready for the public markets.
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