Lithuanian game maker Nordcurrent generated 89 million euros ($96.1 million) in revenue in 2022, representing a massive 42% increase from 62.75 million euros ($67.73 million) in 2021. This comes in spite of the 5% decline in the mobile games market last year.
EBITDA also rose sharply in 2022, reaching 9.38 million euros ($10.12 million), compared to 1.44 million euros ($1.55 million) the previous year - an increase of a massive 551%.
Nordcurrent CEO and co-founder Victoria Trofimova attributes this strong performance in a turbulent year to two key factors - the successful launch of new titles and substantial investment in legacy titles.
A legacy of success
"In 2022, we unveiled two long-awaited gems: The simulation game Happy Clinic and the detective game Murder By Choice, which recently surpassed one million downloads,” said Trofimova. “Both titles have captivated millions of players, driving both a significant player base and substantial revenue gains.
"Our titles Airplane Chefs and Pocket Styler have garnered an impressive and dedicated player base since their launch in 2021, with 'Airplane Chefs' surpassing a staggering 20 million downloads,” continues Trofimova. “As part of our strategic focus last year, we prioritised optimising user acquisition while elevating the overall gaming experience. By introducing captivating new features and delivering fresh content, we achieved remarkable growth in profitability for these games.
“Furthermore, we take great pride in the enduring success of our flagship game, Cooking Fever, which continues to excel and captivate players even after eight extraordinary years.”
In addition to the strong performance of its games, Norducrrent also made substantial expansion throughout 2022. This includes a 40% growth in the company’s workforce, welcoming 73 new colleagues to its offices in Lithuania, Poland, and Ukraine.
The company is forecasting further growth in 2023, with several new games in development.
In March, we spoke to Trofimova as part of our celebration of International Women’s Day.