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Nazara Technologies Valuation Multiples

Discover revenue and EBITDA valuation multiples for Nazara Technologies and similar public comparables like Azerion Group, CMGE Technology Group, and PlaySide Studios.

Nazara Technologies Overview

About Nazara Technologies

Nazara Technologies Ltd is a mobile game company in India. The company has offerings across the interactive gaming, eSports, ad-tech, and gamified early learning ecosystems including World Cricket Championship (WCC) and CarromClash in mobile games, Kiddopia in gamified early learning, Nodwin, PublishMe and Sportskeeda in eSports and eSports media, OpenPlay, Halaplay and Qunami in skill-based, fantasy and trivia games, and Datawrkz in digital ad tech. The company's segment includes Gaming; eSports; and Ad tech. It generates maximum revenue from the eSports segment. Geographically, it derives a majority of its revenue from the USA.


Founded

1999

HQ

India
Employees

74

Website

nazara.com

Financials

LTM Revenue $190M

LTM EBITDA $17.5M

EV

$875M

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Nazara Technologies Financials

Nazara Technologies has a last 12-month revenue of $190M and a last 12-month EBITDA of $17.5M.

In the most recent fiscal year, Nazara Technologies achieved revenue of $132M and an EBITDA of $20.6M.

Nazara Technologies expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Nazara Technologies P&L

FY 2023 FY 2024 FY 2025 LTM NTM
Revenue $127M $132M XXX XXX XXX
Gross Profit $56.0M $74.3M XXX XXX XXX
Gross Margin 44% 56% XXX XXX XXX
EBITDA $17.5M $20.6M XXX XXX XXX
EBITDA Margin 14% 16% XXX XXX XXX
Net Profit $3.3M $4.6M XXX XXX XXX
Net Margin 3% 3% XXX XXX XXX
Net Debt n/a n/a XXX XXX XXX

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Nazara Technologies Stock Performance

As of April 15, 2025, Nazara Technologies's stock price is INR 959 (or $11).

Nazara Technologies has current market cap of INR 84.1B (or $976M), and EV of INR 75.4B (or $875M).

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Nazara Technologies Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$875M $976M XXX XXX XXX XXX $0.15

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Nazara Technologies Valuation Multiples

As of April 15, 2025, Nazara Technologies has market cap of $976M and EV of $875M.

Nazara Technologies's trades at 4.6x LTM EV/Revenue multiple, and 49.9x LTM EBITDA.

Analysts estimate Nazara Technologies's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Nazara Technologies Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $875M XXX XXX XXX
EV/Revenue 5.0x XXX XXX XXX
EV/EBITDA 48.6x XXX XXX XXX
P/E 89.2x XXX XXX XXX
P/E/Growth 2.1x XXX XXX XXX
EV/FCF -322.2x XXX XXX XXX

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Nazara Technologies Valuation Multiples

Nazara Technologies's NTM/LTM revenue growth is 34%

Nazara Technologies's revenue per employee for the last fiscal year averaged $1.8M, while opex per employee averaged $0.9M for the same period.

Over next 12 months, Nazara Technologies's ratio of sales and marketing spend to revenue is estimated to be  XXX , while its R&D spend to revenue to be  XXX .

Analysts estimate Nazara Technologies's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Nazara Technologies Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth 4% XXX XXX XXX XXX
EBITDA Margin 10% XXX XXX XXX XXX
EBITDA Growth 18% XXX XXX XXX XXX
Rule of 40 (SaaS-only) 44% XXX XXX XXX XXX
Revenue per Employee $1.8M XXX XXX XXX XXX
Opex per Employee $0.9M XXX XXX XXX XXX
S&M Expenses to Revenue 16% XXX XXX XXX XXX
G&A Expenses to Revenue 5% XXX XXX XXX XXX
R&D Expenses to Revenue n/a XXX XXX XXX XXX
Opex to Revenue 52% XXX XXX XXX XXX

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Nazara Technologies Public Comps

See public comps and valuation multiples for Gaming - Mobile and E-Sports comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Azerion Group XXX XXX XXX XXX XXX XXX
PlaySide Studios XXX XXX XXX XXX XXX XXX
OnMobile XXX XXX XXX XXX XXX XXX
Trophy Games XXX XXX XXX XXX XXX XXX
CMGE Technology Group XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

Valuation data powered by FactSet, Inc.

Nazara Technologies M&A and Investment Activity

Nazara Technologies acquired  XXX companies to date.

Last acquisition by Nazara Technologies was  XXXXXXXX, XXXXX XXXXX XXXXXX . Nazara Technologies acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Nazara Technologies

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Nazara Technologies

When was Nazara Technologies founded? Nazara Technologies was founded in 1999.
Where is Nazara Technologies headquartered? Nazara Technologies is headquartered in India.
How many employees does Nazara Technologies have? As of today, Nazara Technologies has 74 employees.
Who is the CEO of Nazara Technologies? Nazara Technologies's CEO is Mr. Nitish Vikash Mittersain.
Is Nazara Technologies publicy listed? Yes, Nazara Technologies is a public company listed on BOM.
What is the stock symbol of Nazara Technologies? Nazara Technologies trades under 543280 ticker.
When did Nazara Technologies go public? Nazara Technologies went public in 2021.
Who are competitors of Nazara Technologies? Similar companies to Nazara Technologies include e.g. Azerion Group, PlaySide Studios, OnMobile, Trophy Games.
What is the current market cap of Nazara Technologies? Nazara Technologies's current market cap is $976M
What is the current revenue of Nazara Technologies? Nazara Technologies's last 12-month revenue is $190M.
What is the current EBITDA of Nazara Technologies? Nazara Technologies's last 12-month EBITDA is $17.5M.
What is the current EV/Revenue multiple of Nazara Technologies? Current revenue multiple of Nazara Technologies is 4.6x.
What is the current EV/EBITDA multiple of Nazara Technologies? Current EBITDA multiple of Nazara Technologies is 49.9x.
What is the current revenue growth of Nazara Technologies? Nazara Technologies revenue growth between 2023 and 2024 was 4%.
Is Nazara Technologies profitable? Yes, Nazara Technologies is EBITDA-positive (as of the last 12 months).

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