May 2026
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Largest Gaming - Mobile Public Companies in Poland
Benchmark revenue and EBITDA valuation multiples for public comps like
PlayWay, Ten Square Games, Artifex Mundi, Polski Holding Rozwoju and Boombit.
 | PlayWay SA is a producer and publisher of computer and mobile games in Poland. The company provides with various games including Out of Reach: Treasure Royale, Car Manufacture, Schizm 3: Nemezis And Split among others. | $67 | -25% | $442M | $388M | 4.7x | 6.0x | ||
| Ten Square Games SA is a developer of free-to-play mobile games with a focus on hobby genres, including fishing, hunting, and aviation. The company’s portfolio includes popular titles such as Fishing Clash, Hunting Clash, and Wings of Heroes. | $25 | -6% | $161M | $125M | 1.3x | 4.5x | ||
| Artifex Mundi SA is a producer, co-producer and publisher of games for platforms including Android, iOS, Windows Phone, PC, Mac, Linux, Xbox One and PlayStation 4. Its business segments include Game segment premium, which includes the production of games monetyzowanych model try-before- you-buy and publishing activities and investment in the field of games monetyzowanych model try-before- you-buy. | $6 | +33% | $69M | $62M | 2.4x | 7.8x | ||
| Polski Holding Rozwoju SA Formerly Red Dev Studio SA is a Poland based company engaged in producing games for stationary and mobile platforms. | $1 | +7% | $26M | $26M | 571.7x | 226.3x | ||
| Boombit SA is a Poland based mobile game publisher focused on game production and game publishing. The games offered by the company include Idle Coffee Corp, Tiny Gladiators 2, Tanks A Lot, Darts Club and Build a Bridge among others. The company has geographical presence in the United States, China, United Kingdom, Slovakia, and Poland. | $2 | -14% | $22M | $19M | 0.3x | 3.6x | ||
| Games Operators SA is a publishing company that produces, distributes and sells pay-to-play games in United States, EU (especially England, France, Germany) and China markets. The company sells its games through online sales platforms such as Steam, Google Play, App Store, Nintendo eShop. | $4 | -5% | $22M | $19M | 4.6x | 16.0x | ||
| Ultimate Games SA is a Polish company that operates in the video games market. It is engaged in the production and distribution of games for desktops, mobile devices, and consoles. It develops games on fishing, hunting, and hobby including Ultimate fishing simulator, Pro 2018 Fishing, Priest, Bouncy BOB, Darkest hunters, Earthworms, and The Worst Day Ever. | $4 | +69% | $21M | $19M | 2.9x | 21.0x | ||
| Arts Alliance GK SA is a Poland based company that is engaged in producing games as well as developing technology B2B projects. Along with its subsidiaries, it is engaged in developing B2B platform in Business Travel area to support its clients in booking hotels by algorithms solutions. In the game producing segment, it invests in potential small games developers as well as produce the most valuable games for all types of platforms like iOS, Android, Windows Mobile or Steam platforms. | $1 | -53% | $20M | $20M | — | (150.8x) | ||
| Proguns Group SA is engaged in security and defense products, solutions, and services tailored to the military and governmental sectors. The company is also engaged in sales, maintenance, upgrades, parts supply, and training of UH-60 Black Hawk helicopters along with tactical and shooting instruction. | $1 | +95% | $15M | $14M | 101.4x | (26.9x) | ||
| Tech Robotics SA formerly No Gravity Development SA operates as an independent development studio created by the listed computer game publisher No Gravity Games SA. It specializes mainly in porting (transferring from one hardware platform to another) games while maintaining the highest quality standards, with particular emphasis on console platforms, i.e. Nintendo Switch, Xbox One, Xbox Series, PlayStation 4, and PlayStation 5. | $4 | -5% | $11M | $11M | 319.7x | (50.8x) | ||
| Vivid Games SA is a leading mobile games development studio in Poland. The company produces top-notch mobile entertainment. It also designs and develops games for Android, iOS, PSP Minis, Mobile, NDS, MAC, PC and DSi operating systems. | $0 | +6% | $10M | $12M | 4.7x | (21.0x) | ||
| Lichthund SA operates as a gaming company. The company creates games based on immersive mechanics, solutions, and distinctive artistic style. | $16 | +17% | $10M | $9M | 30.3x | (42.8x) | ||
| Gamivo SA operates in the gaming industry. It is engaged in the distribution of software, especially computer games. The company offers products for different platforms, such as Personal Computer (PC), Playstation, and Xbox. | $5 | +12% | $8M | $7M | 1.6x | 4.2x | ||
| Oxygen S.A. (OXY) is a Polish company listed on the NewConnect stock market, focused on producing and publishing mobile games for Android and iOS, including titles like Green Thumb and My Dream Room. | $0 | -- | $8M | $9M | 18.0x | (4.2x) | ||
| Dark Point Games SA is a development studio specializing in creating video games for computers and consoles. It is focuses on creating complex independent titles that combine the features of high-budget games, referred to by developers as Premium Indie. | $4 | +16% | $6M | $6M | 4.7x | 8.2x | ||
| Plot Twist SA is a polish based independent video game producing company whose operational activities are based on the creation of original video games. The company creates games for PC, PlayStation and Xbox, as well as mobile games. | $0 | +73% | $6M | $6M | 52.4x | (11.8x) | ||
| Drago Entertainment SA is a gaming company. The company has delivered no of games such as Gas Station Simulator RV Camp, Gas Station Simulator Car Junkyard, Gas Station Simulator Car Junkyard, Gas Station Simulator Tidal Wave DLC. | $5 | -22% | $6M | $6M | 1.6x | 22.3x | ||
| Noobz From Poland SA is a game development studio based in Warsaw. The company's latest game is Total Tank Simulator. | $3 | +21% | $5M | $5M | 115.1x | (22.5x) | ||
| Simfabric SA is a producer, game developer and porting studio for computer games. The company creates computer simulators and games for PCs, mobile devices (iOS, Android), and consoles such as Nintendo Switch, PS4 and Xbox One. | $0 | -11% | $5M | $5M | 2.3x | 11.9x | ||
| Munar SA formerly No Gravity Games SA is engaged in publishing games in the international markets on Steam, mobile platforms, Nintendo Switch and Xbox One. | $0 | +17% | $5M | $5M | — | (62.5x) | ||
| ManyDev Studio SE is focused on developing games. Some of its projects include Barbarian Kingdom, Dreamreaper: Gray Skies, and Formula Team. | $0 | -18% | $5M | $5M | 4440.1x | (24.4x) | ||
| Starward Industries SA is an independent game developer. It operates in game industry intended for personal computers and game consoles. | $2 | -16% | $5M | $5M | 8.5x | (11.8x) | ||
| Ovid Works SA is an independent video game studio. The firm is engaged in producing games for PC, consoles, and VR. Some of its games are Interkosmos and Metamorphosis among others. | $0 | -16% | $4M | $4M | 4.9x | (48.2x) | ||
| Sheepyard SA is a mobile game publisher. The company offer Marketing, PR, community management, social media, advertising, quality assurance, analytics as well as providing senior level guidance and help on production side. | $0 | -- | $3M | $3M | 3.9x | (2.0x) | ||
| Red Square Games S A operates in two areas related to games: Computer Games which involves the production of its computer games and those commissioned by other entities. Games without electricity the second area of ​​activity includes offline games, for which the Issuer acts as a producer and publisher. This area is intended to introduce products such as board games, role playing games and card games to the market in physical and digital form. | $2 | -28% | $3M | $3M | 4.2x | (109.5x) | ||
| Varsav Game Studios SA is a Poland-based company. It is mainly engaged in the production of PC and mobile games and applications. The company offers various services to the gaming industry, including portfolio building and providing technological and financial support. Games developed by the company include Bee Simulator, AR Kicker, Crowd Dragons, Metamorphosis, and Interkosmos. | $0 | +0% | $3M | $3M | 6.9x | 17.2x | ||
| Pyramid Games SA is engaged in the business of developing games. The games developed by the company include Occupy mars, Dinosaur fossil hunter, Zoo Keeper, and many more. | $2 | -42% | $3M | $3M | 7.2x | (26.2x) | ||
| Incuvo SA is engaged in the game development business. It ports and produces VR games on a work for hire basis. Some of the games offered by the company include Blair Witch, Layers of Fear, Super Hero Fight Club, Createrria 2, and Crowdy Farm Puzzle. | $0 | +4% | $3M | $1M | 0.4x | (11.4x) | ||
| Road Studio SA is a developer of automotive and survival themed simulation video games, which at the same time are travel-themed. | $2 | +22% | $3M | $3M | 7.4x | 6.7x | ||
| Examobile SA designs and builds applications, games and websites on mobile devices. The group creates software application such as sports and travel apps, games and entertainment, kids games and apps, among others. | $1 | +16% | $2M | $1M | 3.1x | 3.9x | ||
| Longterm Games SA is a publisher and developer of PC and console games, based in Poland. It generates income from the sale of the basic version as well as from add-ons, multiplayer modes (co-op), packages with access to all expansions (the so-called season pass), and subsequent parts (sequels). | $2 | +49% | $2M | $2M | 367.7x | (12.1x) | ||
| Qubicgames SA is engaged in the development and sale of video games for mobile and desktop consoles. | $0 | -22% | $2M | $1M | 0.2x | 1.4x | ||
| Play2Chill SA is an independent game development company in Poland. The company is engaged in production of games for desktop computers, consoles and mobile devices. | $1 | -29% | $2M | $2M | 1.3x | 84.9x | ||
| Freemind SA is a company that operates on the video game market, focusing on the production and publishing of games for PC computers. The company has produced and published portfolio of games such as Farmer's Life, House Builder, Junkyard Builder, Aquarist. | $2 | +18% | $2M | $2M | 1.4x | 8.0x | ||
| Baked Games SA is a gaming studio. It acts as a developer of games published by third parties publishers, with the proviso that the company has released its own games for mobile platforms, App Store and Google Play. In this model, after creating the game, the developer hands it over to the publisher, who commercializes it and incurs the related expenses. Some of its games are Prison Simulator, Alaska Gold Fever, and Security Guard among others. | $1 | -3% | $2M | $1M | 5.0x | (6.0x) | ||
| Simteract SA is a technology company. The company specializes in the production of simulation video games. It operates in three locations namely, Lublin, Krakow, and Rzeszow. | $1 | -12% | $2M | $1M | 0.7x | 4.3x | ||
| VR Factory Games SA specializes in creating business applications and games using virtual and augmented reality technology. Its games include Horror Bar VR, Bartender VR Simulation, Space Camp, Desert Dream, and Guns and Notes among others. | $0 | -43% | $2M | $2M | — | — | ||
| Intermarum SA is an independent game development studio. The company is composed of a small but dedicated team of experienced game developers. | $0 | +1% | $2M | $2M | 3.5x | (14.0x) | ||
| Vrfabric S A is involved into port games and simulators from the portfolio of SimFabric SA and external studios to VR goggles. | $1 | +10% | $2M | $241K | 0.1x | 0.3x | ||
| Console Labs SA focuses its core activity around porting games to Playstation 4, Playstation 5, Xbox One, Xbox Series X/S, Nintendo Switch, and MacOS (Steam) consoles. Its portfolio of completed projects includes Thief Simulator, Ultimate Fishing Simulator, and Car Demolition Clicker among others. | $2 | -26% | $2M | $1M | 1.3x | 7.9x | ||
| Gamehunters S A operates in the video games market. The company is engaged in the production and distribution of games for stationary computers. Its games include Samurai Simulator, Gunsmith Viking Simulator, Medieval Farmer, Gunsmith Prologue, and Others. | $1 | -49% | $1M | $1M | 2.3x | (16.7x) | ||
| Carbon Studio SA is engaged in game development and applications dedicated for VR technology. The company's developed games include The Wizards - Dark Times, The Wizards - Quest Edition, The Wizards - Trails of Meliora, The Wizards - Enhanced Edition, Akice VR and Dreamo. | $1 | -65% | $1M | $2M | 3.6x | 3.9x | ||
| Madmind Studio SA is a video game development company. The studio comprises veteran game developers, who have worked on AAA titles such as The Division, Witcher 3, Sniper: Ghost Warrior 2, Alien Rage, Enemy Front, Real Boxing 2, Godfire: Rise of the Prometheus etc. | $0 | -64% | $1M | $2M | 3.0x | 6.5x | ||
| 7Levels SA is an independent video game developer specializing in platform games. It develops, tests, and distributes games for various platforms. Its key project includes Castle of heart. | $2 | -25% | $1M | $1M | 1.9x | 3.2x | ||
| ECC Games SA is engaged in the production of games in Poland. It offers games for both mobile and landline platforms in the Premium and Free-to-Play formula. | $0 | -59% | $1M | $1M | 5.2x | (5.5x) | ||
| CreativeForge Games SA is a game development studio. It creates games for PC, PlayStation, Xbox, and other devices. The company's games include Hard West, Phantom Doctrine, and The tactical Cold War. | $0 | -2% | $1M | $1M | 4.4x | (1.7x) | ||
| Art Games Studio SA is a Poland-based company that operates in the video games market, specializing in the production and distribution of desktop games. The group has developed games such as Earthworms, Bad Dream: Fever, and Escape Doodland for sale. The company has made games available for IOS, Android, and other types of consoles. | $0 | +64% | $1M | $1M | 3.4x | 81.8x | ||
| Jujubee SA is a game development studio in Poland. The company develops great looking and addictively fun games for all main gaming platforms - including consoles, iOS, Android, Mac, and PC. Its games include Take Off - The Flight Simulator, Realpolitiks, Flashout 2 and Suspect: The Run!. | $0 | -56% | $1M | $1M | 5.4x | (1.2x) | ||
| BTC Studios SA is a game development company. Its portfolio of games include Taffy: Feed the Kitty; Sadie Sparks Magic Match; and Pirates Next Door: The Mad Chase. | $0 | -- | $1M | $1M | 135.9x | (23.1x) | ||
| Space Fox Games S A is engaged in development related to the production of mobile and PC games from the casual premium segment, characterized by addictive gameplay and simple controls. | $1 | -43% | $991K | $857K | 78.0x | (6.7x) | ||
| Windlands Interactive SA, formerly Games Box SA is a producer and publisher of games offered for PCs and consoles. Its games comprise Ships 2017; Riot Control Simulator; Bad Dream: Coma; Stinky Company Simulator; among others. | $0 | -57% | $946K | $804K | 13.5x | (15.8x) | ||
| Kool2play SA is an independent developer and publisher of games. | $0 | -59% | $928K | $1M | 11.0x | (0.9x) | ||
| Image Power SA operates in the video game market, specializing in the production and distribution of games for desktop computers. The company is involved in the production, publishing and marketing of games. Its products are sold globally in the digital distribution model, mainly through the dedicated steam distribution platform, which is the largest distributor of PC games in the world. In addition, the games are released on consoles such as Nintendo Switch, Xbox One and PlayStation 4. | $0 | -52% | $915K | $910K | 3.0x | (1.9x) | ||
| Uf Games SA operates in the video game market, specializing in acquiring licenses to port games with high sales potential, mainly for the Nintendo Switch console. | $0 | -9% | $854K | $844K | 6.5x | (4.2x) | ||
| Duality SA is engaged in the business of producing and publishing video games. The games developed by the company are Barn finders, Tales of tomorrow, and other games. | $0 | -3% | $825K | $870K | 2.2x | (6.4x) | ||
| Moonlit SA is a Poland based company engaged in developing of games and gaming software. Some of the games developed by the company include Deadliest Catch, Thief Simulator, Baikonur, Oil Rush and Ignis. | $0 | +91% | $785K | $870K | 4.5x | 77.9x | ||
| T Bull SA is a new technology company specializing in the design, production, and distribution of games for mobile devices. The company's portfolio includes a range of titles designed for the popular mobile platforms. The T-Bull development team specializes in creating first-person shooters and racing games. | $1 | -29% | $784K | $953K | 0.6x | (3.0x) | ||
| The Dust SA offers a range of tools in the field of advergaming, creating projects using AR and VR technologies and production of mobile games. The company offers Cyber Strike, Winnie Play, and others. | $0 | -36% | $615K | $653K | 2.5x | 3.0x | ||
| Megapixel Studio SA is engaged in producing video games. The main goal of the studio is to create playable and recognizable games for all important platforms, with particular emphasis on consoles: Nintendo Switch, Xbox and PS4. | $0 | -44% | $579K | $2M | 6.2x | (81.3x) | ||
| Atomic Jelly SA operates in the video game market. The company aims to produce and publish computer games. Some of the games offered by the company include Space Mechanic Simulator, Truck Mechanic Simulator, Space Mechanic Simulator, and Project Remedium. | $0 | -25% | $562K | $562K | 20.0x | (12.5x) | ||
| Drageus Games SA is a publisher and developer of independent premium games. It specializes in creating, porting and publishing games for consoles. In its publishing portfolio the group holds over twenty games released on the latest Nintendo console. | $0 | -35% | $522K | $436K | 2.6x | (9.2x) | ||
| Prime Bit Games SA is engaged in designing. creating, and publishing mobile, computer, console, and browser games. The company also provides services like porting, co development, designing graphics, and games on customer orders. | $0 | +81% | $504K | $521K | 30.2x | (9.9x) | ||
| G-devs SA engaged in developing and publishing video games, focusing on creating engaging and immersive experiences. The company’s portfolio includes titles such as ORC Warchief, Rich Dad Simulator, Anonymous Hacker Simulator, Nethack, Perseus: Titan Slayer, and others. | $0 | -48% | $493K | $497K | 3.4x | (2.0x) | ||
| Iron Wolf Studio SA specializes in developing high-quality war games, combining historical accuracy with engaging gameplay. Its games include Board Games and Steam. | $0 | -57% | $478K | $447K | 14.4x | (2.0x) | ||
| Draw Distance SA is a Poland based gaming company. The company is engaged in the development of various games such as Vampire: The Masquerade - Coteries of New York, Serial Cleaner, Halls of Horror, Ritual Crown of Horns and Far Peak among others. It operates on all platforms including PC, PS4, Xbox One, Nintendo Switch, iOS, and Android. | $0 | -10% | $454K | $1M | 5.6x | 2.2x | ||
| Live Motion Games SA is engaged in the production and publishing of games for personal computers sold via the Steam platform to markets. It focuses on the production of simulators, city-builder, survival, and other games. | $0 | -35% | $402K | $383K | 1.2x | (3.6x) | ||
| Demolish Games SA is a Polish based company engaged in the production and publishing of computer games, mainly in the genre of simulation games. The main asset of the company is the Demolish & Build series , in which the player is the owner of a construction company focusing on demolitions. | $0 | -20% | $373K | $303K | 2.7x | (1.2x) | ||
| Eneida Games SA Formerly Hydra Games SA is a producer and publisher of video games for personal computers and consoles. | $2 | -34% | $371K | $371K | 9.6x | (19.3x) | ||
| Black Rose Projects SA develops porting computer and mobile games. It offers porting games for the PC platforms, Nintendo Switch, and PlayStation 4 consoles. Its services include porting, publishing, and managing the sales of given projects. | $0 | -60% | $255K | $325K | 1.4x | (2.1x) | ||
| Cherrypick Games SA is a gaming publishing company. It develops creates and markets games for various gaming platforms. The company’s games include Touchdown Hero, TDH New Season, Double Juggle, Auctioneer, Sports Hero, and Must Deliver. | $0 | -90% | $185K | $442K | 0.7x | (0.2x) | ||
| Median | $0 | -16% | $2M | $2M | 4.4x | (2.0x) |
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