8186
Next Games Withdraws Outlook for 2021, Previously Issued Outlook Is No Longer Probable And In Effect
NEXT GAMES CORPORATION | COMPANY RELEASE | 2 December 2021, 11:00 am EET
Next Games withdraws its outlook for 2021, originally published on 19 February 2021. Previously issued outlook is no longer probable and in effect.
The company has made a strategic decision to postpone certain planned and significant marketing investments, and thus part of 2021 expected revenue growth from Stranger Things: Puzzle Tales will, according to the company’s estimate, be generated closer with the release of season 4 of the Stranger Things series, expected to happen in 2022.
Next Games has sound financial reasoning to postpone the investments as returns are expected to be higher at that point in time, due to both expected higher average revenue per daily active user (ARPDAU) and lower effective cost per install (eCPI). The company continues to invest significantly in Stranger Things: Puzzle Tales development and its marketing. Stranger Things: Puzzle Tales will however contribute to revenues in 2021, but the company’s previously issued outlook is no longer probable and in effect. Both of the company’s The Walking Dead Games have performed as expected in 2021.
Additionally, Next Games is conducting multiple contractual and partnership negotiations, some of which may have financial impact for the fiscal year 2021. However it is uncertain if such negotiations will be concluded during Q4 2021.
For these reasons, the company cannot reliably give a revenue and profitability outlook for the year 2021.
Teemu Huuhtanen, CEO, Next Games: “Stranger Things: Puzzle Tales has the strongest early performance metrics we have ever seen in any of our own games. The game has the full support and largest team at Next Games, and we believe we will be able to make further, significant improvements to it as planned. As we continue to invest both in development and marketing, we think the highest return can be achieved by coinciding our larger planned marketing investments, with season 4 of Stranger Things series.
Additionally, we have several contractual negotiations ongoing, which were expected to contribute to our revenues during Q4, but which may be extended to Q1 2022. For these reasons we are not able to reliably issue new outlook.”
Previous outlook for 2021:
Next Games expects revenues to grow to at least EUR 40 million in 2021. The Company is targeting profitable growth with full year EBITDA positive in 2021.
Contacts:
Saara Bergström
Chief Communications Officer
+358 (0) 50 483 3896
[email protected]
Certified Adviser: Alexander Corporate Finance Oy, tel. +358 (0) 50 520 4098
About Next Games
Next Games is the first publicly listed mobile game developer and publisher in Finland, specializing in games based on entertainment franchises, such as movies, TV series or books. The developers of the critically acclaimed The Walking Dead games redefine the way franchise entertainment transforms into highly engaging service-based mobile games. Next Games works on multiple new games based on beloved global IP’s, including Stranger Things: Puzzle Tales based on Netflix’s hit 80s horror drama series. www.nextgames.com
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8186
The Arbitral Tribunal Has Confirmed Netflix, Inc.’s Redemption Right Regarding Next Games Corporation’s Minority Shares
Next Games Corporation Company Release August 19, 2022 at 2:45 p.m. (EEST)
The arbitral tribunal has confirmed Netflix, Inc.’s redemption right regarding Next Games Corporation’s minority shares
The arbitral tribunal appointed by the Redemption Board of the Finland Chamber of Commerce has today on August 19, 2022 confirmed that Netflix, Inc. (“Netflix”) has the right to redeem the minority shares in Next Games Corporation (“Next Games”) and that Netflix has the right to obtain title to the minority shares by placing a security approved by the arbitral tribunal for the payment of the redemption price and the interest possibly accruing thereon.
Next Games announced on 9 August 2022 that the Board of Directors of Next Games had decided to apply for the termination of multilateral trading in Next Games’ shares and for the delisting of Next Games’ shares from the First North Growth Market Finland marketplace’s list (“First North”) to occur as soon as possible after Netflix has received title to all the Next Games shares subject to redemption in the redemption proceedings.
The title to the minority shares is transferred to Netflix once a security approved by the arbitral tribunal has been placed, which is expected to take place on or about 22 August 2022. The minority shareholders of Next Games, following the placing of the security and the transfer of ownership, are entitled to receive only the redemption price and the possible interest payable thereon. Nasdaq Helsinki Ltd. will issue a separate release regarding the delisting of Next Games’ shares from First North.
Next Games Corporation
Additional information:
Saara Bergström, Chief Communications Officer
+358 (0) 40 588 3167
Media: [email protected]
Investor relations: [email protected]
Certified Adviser: Aktia Alexander Corporate Finance Oy, tel. +358 (0) 50 520 4098
About Next Games
Next Games redefines the way entertainment franchises transform into engaging mobile games with an authentic and social fan experience at the heart. Next Games creates compelling fans-first interactive experiences by combining the stories of well-known movies and TV series with interesting game mechanics. An unwavering focus on fans is at the core of the studio’s development. Next Games has recently been acquired by Netflix as a core internal studio to build games on the Netflix platform. www.nextgames.com
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Next Games Corporation Company Release 12 August 2022 at 9:30 a.m. (EEST)
Next Games reschedules publication of its Half-Year Review 1 Jan – 30 Jun 2022 to Wednesday 31 August 2022. The previously planned publication date for the Half-Year Review was 19 August 2022.
The reason for the postponement is integration work relating to the previously announced, completed tender offer for all shares in Next Games by Netflix, Inc., including expansion of Finnish, international and U.S. accounting standards as well as changes in reporting systems, which delays the preparation of the Half-Year Review.
Additional information:
Saara Bergström
Chief Communications Officer
+358 (0) 50 483 3896
[email protected]
Certified Adviser: Aktia Alexander Corporate Finance Oy, puh. +358 (0) 50 520 4098
About Next Games Next Games redefines the way entertainment franchises transform into engaging mobile games with an authentic and social fan experience at the heart. Next Games creates compelling fans-first interactive experiences by combining the stories of well-known movies and TV series with interesting game mechanics. An unwavering focus on fans is at the core of the studio’s development. Next Games has recently been acquired by Netflix as a core internal studio to build games on the Netflix platform. www.nextgames.com
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8186
Next Games Corporation Applies for the Delisting of Its Shares From the First North Growth Market Finland Marketplace
Next Games Corporation Company Release August 9, 2022 at 9:30 a.m. (EEST)
Next Games Corporation applies for the delisting of its shares from the First North Growth Market Finland marketplace
The Board of Directors of Next Games Corporation (“Next Games”) has on 8 August 2022 decided to apply for the termination of multilateral trading in Next Games’ shares and for the delisting of Next Games’ shares from the First North Growth Market Finland marketplace’s list (“First North”).
As announced earlier, Netflix, Inc. (“Netflix”) has with its application to the Redemption Board of the Finland Chamber of Commerce dated 9 May 2022 commenced redemption proceedings pursuant to Chapter 18 of the Finnish Limited Liability Companies Act to redeem all minority shares in Next Games.
Netflix holds more than nine tenths (9/10) of all shares and votes in Next Games. Netflix has the right to redeem all shares held by minority shareholders of Next Games. Subject to the approval of the arbitral tribunal appointed to resolve the matter, Netflix has the right to acquire all shares held by the minority shareholders by placing a security for the payment of the redemption price.
Next Games will as soon as possible file an application for the termination of trading and for the delisting with Nasdaq Helsinki Ltd. In the application, Next Games will apply for the termination of trading and delisting as soon as possible after Netflix has received title to all Next Games shares subject to redemption in the redemption proceedings.
Next Games Corporation
Additional information:
Saara Bergström, Chief Communications Officer
+358 (0) 40 588 3167
Media: [email protected]
Investor relations: [email protected]
Certified Adviser: Aktia Alexander Corporate Finance Oy, tel. +358 (0) 50 520 4098
About Next Games
Next Games redefines the way entertainment franchises transform into engaging mobile games with an authentic and social fan experience at the heart. Next Games creates compelling fans-first interactive experiences by combining the stories of well-known movies and TV series with interesting game mechanics. An unwavering focus on fans is at the core of the studio’s development. Next Games has recently been acquired by Netflix as a core internal studio to build games on the Netflix platform. www.nextgames.com
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