# Qiiwi Games > Clarifo company profile — qualitative business description generated from > the company's filings. Financial statements, charts and ratios are > available on Clarifo (https://www.clarifo.com/en/companies/qiiwigames). ## Overview Qiiwi Games is a Swedish mobile game developer and publisher focused on free-to-play games for smartphones and tablets. Its business centers on live mobile titles that generate revenue through in-app purchases and advertising, distributed through app stores and other digital platforms. ## Products & services • Free-to-play mobile games • In-app purchase monetization • In-game advertising monetization • Game development and live operations • Publishing and distribution via app stores - **Mobile games** (100%) — Casual and mid-core mobile titles distributed on app stores and social platforms. - **In-app purchases** (70%) — Virtual goods and gameplay purchases made by players inside the games. - **Advertising** (30%) — Ad impressions and other in-game advertising placements monetized from player traffic. - Free-to-play mobile games - In-app purchase monetization - In-game advertising monetization - Game development and live operations - Publishing and distribution via app stores ## Customers Qiiwi Games sells directly to consumers who play its mobile games, with revenue generated when players buy virtual items or when ads are shown during gameplay. Its audience is typically mobile-first casual gamers, while the company also depends on platform ecosystems such as Apple, Google, Facebook, and Amazon to reach and monetize users. - **Free-to-play mobile players** (primary) — Consumers who download and play the games, generating revenue through ads and optional purchases. - **Paying in-app users** (primary) — Players who buy virtual items, boosters, or progression-related content inside the games. - **Ad-supported players** (primary) — Users who do not pay directly but create monetizable ad impressions through gameplay. - **Platform users on app stores and social channels** (secondary) — Players acquired and monetized through App Store, Google Play, Facebook, and Amazon distribution. - Mobile gamers who make in-app purchases - Players who engage with ad-supported free-to-play games - Casual game audiences on iOS and Android - Users reached through social and app-store platforms - Platform ecosystems that enable distribution and monetization ## Geography Qiiwi Games is headquartered in Sweden and reports in SEK, while its international subsidiary uses EUR for local reporting. The business is distributed digitally, so its revenue exposure is tied more to player markets and platform access than to physical manufacturing locations. - Sweden is the reporting and corporate base - EUR-based subsidiary supports international operations - Revenue is generated through global digital app platforms - App Store and Google Play are key distribution channels - Geography matters mainly through user acquisition and platform access ## Strategy The company’s strategy is centered on developing, launching, and operating mobile games that can be monetized over time through purchases and advertising. It also emphasizes soft-launch testing, activation of development costs during launch preparation, and scaling titles that can sustain global distribution. - **Develop and launch monetizable mobile titles** (short-term) — Revenue depends on a small number of games that can attract and retain players. - **Optimize live monetization** (medium-term) — In-app purchases and ads are the core revenue engines for each title. - **Convert development spend into long-lived assets** (medium-term) — Capitalizing development during soft launch can support future earnings if the game succeeds. - Build and operate free-to-play mobile games - Monetize through purchases and advertising - Use soft launches to validate game economics - Scale successful titles globally - Extend the life of hit games through live operations ## Risks Qiiwi Games is exposed to hit-driven concentration risk because a limited number of titles account for most revenue. It also faces platform dependency, user-acquisition volatility, and the usual mobile-gaming risks around player retention, ad pricing, and changing app-store policies. - **Revenue concentration in a small number of games** [high] — The company states that most revenue comes from a few titles, so performance of those games drives results. - **Platform dependency** [high] — All sales flow through third-party mobile platforms, creating dependence on their rules, fees, and visibility algorithms. - **User monetization volatility** [medium] — In-app purchase and ad revenue depend on player engagement, conversion, and ad market conditions. - **Capitalized development impairment** [medium] — Activated development costs only create value if a game reaches global launch and sustains demand. - Revenue concentration in a few top-performing games - Dependence on Apple, Google, Facebook, and Amazon platforms - Player retention and monetization can change quickly - Ad revenue is sensitive to traffic and pricing - Capitalized game development can lose value if titles underperform ## Accounting Revenue is recognized gross from in-app purchases and advertising, before platform fees, which makes reported revenue larger than net cash retained after store commissions. The company also capitalizes development costs during soft launch when it expects future economic benefits, then amortizes them over 24 months after global launch, so timing of launch success can materially affect earnings and asset values. - **Gross vs net revenue presentation** — Revenue and gross margin presentation - **Capitalized development costs** — Intangible assets and future amortization - **Amortization of game development** — Operating profit and asset carrying values - **Foreign currency translation** — Reported revenue, assets, and equity - Gross revenue presentation before platform fees - Platform commissions recorded in direct costs - Capitalized development during soft launch - 24-month amortization after global launch - Foreign currency translation from EUR to SEK --- *Last updated: 2026-08-11T04:04:55.395412+00:00*