Nazara Technologies Limited informs the Exchange about Transcript

August 06, 2026 Listing Compliance Department Listing Compliance Department BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, Plot No. C/1. G Block, Dalal Street, Bandra -Kurla Complex, Bandra (East), Mumbai - 400 001. Mumbai- 400051. Scrip Code: 543280 Scrip Symbol: NAZARA Subject: Transcript of the Investor/Analyst Earnings Call held on August 04, 2026: Dear Sir/Madam, In furtherance to our letter dated August 04, 2026 regarding the audio recording of the investors earnings call for the Q1 FY2026-27 Results, please find enclosed herewith the transcript of the said call. The Transcript is also available on the Company’s website i.e. www.nazara.com. We request you to take the same on record. Thanking you, Yours faithfully, For Nazara Technologies Limited Arun Bhandari Company Secretary and Compliance Officer Encl.: As above “Nazara Technologies Limited Q1 FY '27 Earnings Conference Call” August 04, 2026 MANAGEMENT: MR. NITISH MITTERSAIN – MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER, NAZARA TECHNOLOGIES LIMITED MR. ROHIT SHARMA – EXECUTIVE DIRECTOR, NAZARA TECHNOLOGIES LIMITED MR. RAKESH SHAH – CFO, NAZARA TECHNOLOGIES LIMITED MS. ANUPRIYA SINHA DAS – HEAD (CORPORATE DEVELOPMENT), NAZARA TECHNOLOGIES LIMITED MR. SHREYES MENON – WHOLE-TIME DIRECTOR, SMAAASH MR. TERRY LEE – CHIEF EXECUTIVE OFFICER, FUSEBOX GAMES MS. SUSAN PLANCK – CHIEF OPERATING OFFICER, CURVE GAMES MR. MAXIME LOPPIN – CHIEF PRODUCT OFFICER, BLUETILE GAMES MR. MANISH GAURAV – WHOLE-TIME DIRECTOR – PAPERBOAT APPS PRIVATE LIMITED MR. JEFF AMIS – CO-FOUNDER & CHIEF EXECUTIVE OFFICER, WILDWORKS INC MR. MAYANK KUMAR – CHIEF EXECUTIVE OFFICER, ABSOLUTE SPORTS PRIVATE LIMITED MR. AKSHAT RATHEE – FOUNDER, NODWIN GAMING PRIVATE LIMITED MR. SENTHIL GOVINDAN – CHIEF EXECUTIVE OFFICER, DATAWRKZ BUSINESS SOLUTIONS PRIVATE LIMITED MR. CHRIS JONES – CHIEF EXECUTIVE OFFICER, SPACE & TIME. MODERATOR: MR. NIRANT DHUMAL – ICICI SECURITIES Page 1 of 14 Nazara Technologies Limited August 04, 2026 Moderator: Gentlemen, good day and welcome to the Nazara Technologies Limited Q1 FY27 Earnings Conference Call hosted by ICICI Securities Limited. As a reminder, all participants’ lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing “*” then “0” on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Nirant Dhumal from ICICI Securities. Thank you, and over to you, sir. Nirant Dhumal: Good morning, everyone, and welcome to Nazara Technologies Limited Q1 FY27 Post-Results Earnings Call. The call will start with brief Management remarks on the Earnings Performance, followed by a Q&A session. Nazara Management will be represented by Nitish Mittersain – MD and CEO, Nazara Technologies Limited; Rohit Sharma – Executive Director, Nazara Technologies Limited; Rakesh Shah – CFO, Nazara Technologies Limited; Anupriya Sinha Das – Head of Corporate Development, Nazara Technologies Limited; Shreyes Menon – Whole-Time Director, SMAAASH; Terry Lee – CEO, Fusebox Games; Susan Planck – COO, Curve Games; Maxime Loppin – CPO, Bluetile Games; Manish Gaurav – Whole-Time Director, Paperboat Apps Private Limited; Jeff Amis – Co-founder and CEO, WildWorks Inc; Mayank Kumar – CEO, Absolute Sports Private Limited; Akshat Rathee – Founder, NODWIN Gaming Private Limited; Senthil Govindan – CEO, Datawrkz Business Solutions Private Limited; Chris Jones – CEO, Space & Time. Over to you, sir. Nitish Mittersain: Hello. Yes, hi, everyone. Good morning, everyone, and thank you for joining us this morning. This is Nitish. Q1 FY27 marks a significant step forward in Nazara's evolution into a global gaming operating platform. Yesterday, we announced our Q1 Results, the appointment of Raymond Stauffer as our new CEO, effective September 1 2026, subject to relevant regulatory approvals, and an acceleration of the previously announced Bluetile and BestPlay transaction to acquire 100% ownership for a fixed all-cash consideration of $303 million. Consolidated revenue came in at INR 429 crores, and EBITDA was INR 46 crores. We reported a PAT loss of INR 82 crores, largely attributable to the share of loss from associates and impairment loss. Excluding the impact of NODWIN's deconsolidation, comparable consolidated revenue grew approximately 9% year-on-year. Our gaming revenue increased 14% year-on-year to INR 275 crores, with an EBITDA margin of 19.5% and all our gaming businesses remained EBITDA positive while showing positive growth. Page 2 of 14 Nazara Technologies Limited August 04, 2026 Our shared capabilities across UA, data, product, and growth are translating into stronger performance across the gaming portfolio. The long-standing concern on Kiddopia’s stagnation has changed in the last quarters. Kiddopia revenues grew 19% year-on-year as our user acquisition scaled, behind improving unit economics. Fusebox, which runs the popular game Love Island, increased 12% year-on-year to INR 82 crores, whereas Animal Jam’s revenue also grew 11% year-on-year. The Board, on the recommendation of its investment committee, has approved an amendment to the previously announced transaction structure to acquire 100% of Bluetile and BestPlay for a fixed cash consideration of $303 million. Under this amended structure, $89 million will be paid at closing, with the remaining $214 million payable in agreed tranches by 1 April 2027. This new structure provides certainty of ownership and the acquisition price, full economics upon closing, single owner governance, immediate operating integration, greater strategic flexibility, and access to the cash generated by the business. For reference, the Bluetile and BestPlay business reported INR 518 crores of revenue and INR 55 crores of EBITDA in Q1 FY27. And subject to the final closing, we are expecting to start consolidating this entire business from Q2 FY27. We have also appointed Bluetile CEO and founder - Raymond Stauffer - as CEO of Nazara Technologies, effective 1 September 2026. Raymond brings a founder's mindset and a proven record, especially on AI-enabled game development, operating discipline, and capital-efficient growth. I think he and his team will be able to significantly boost and help all the other studios within the Nazara umbrella. As Founder and Managing Director, I will continue to shape Nazara's long-term strategy, portfolio direction, and key relationships, working closely with Raymond and the Board. Nazara enters this next phase with greater scale, stronger leadership, and significantly deeper operating capability. With that, I will hand over to Anupriya to discuss segmental performance. Anupriya, over to you. Anupriya Sinha Das: Thank you, Nitish. Good morning, everyone. I will cover the segmental performance. In Q1 FY27, our Gaming segment revenue grew by 14% year-on-year to INR 275 crores. EBITDA reached INR 54 crores, resulting in an EBITDA margin of 19.5%. Within Mobile Gaming, Bluetile and BestPlay, which will be consolidated from Q2 FY27, delivered 54% revenue growth year-on-year, with gains reinvested into user acquisition. Page 3 of 14 Nazara Technologies Limited August 04, 2026 EBITDA held flat as UA spend rose from 78% to 85% of revenue, though revenue net of UA spend still increased from INR 73 crores to INR 80 crores. As Nitish mentioned, Kiddopia revenue grew 19% year-on-year in Q1 FY27 with higher UA spend deployed against improving unit economics. The 24-month LTV/CAC continues to trend upwards, though the step-up in user acquisition moderated the near-term EBITDA. Animal Jam revenue increased by 11% year-on-year, supported by a consistent content cadence and continued growth investment. Fusebox Games, the developer and publisher of the Love Island game, grew 12% year-on-year as the studio scaled Love Island, w [Showing first 8,000 characters — download PDF for full document]