NIP Group Reports Multi-Million Losses in 2024 Financial Statement

Ninjas in Pyjamas ended 2024 with significant losses, according to their financial report. Despite revenue growth and increased event income, their parent company NIP Group reported multimillion-dollar losses.

Revenue Growth Didn't Prevent the Downfall
According to the latest financial report, for the year 2024 , NIP Group recorded a net loss of $11.55 million. Notably, in the same year, the company's revenue grew by 18% to $128.71 million, and event production income increased by a record 147.5%.

However, the growth was deceptive. Due to high costs and organizational expenses, the gross profit decreased from $7.2 million to $3 million. Parallel reports also mention another figure—a net loss of $12.7 million, which likely reflects consolidated losses across various business areas.

Restructuring for Survival
The company cites "high operating expenses and restructuring costs" as the main reasons for the losses. NIP Group has already begun cutting costs and revising its business strategy, aiming to return to profitability in 2025.

Interestingly, despite the decline in profits, the organization continued to invest in development and participation in various disciplines, including CS2 and Valorant . Maintaining activity in these scenes requires significant resources, which might have increased financial pressure.

Given the statements about restructuring and plans for 2025, it can be expected that the organization will undergo internal changes soon. This could affect both the esports rosters and the management staff structure.