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Wargaming does not publish a current, audited consolidated revenue total for its entire corporate group. The clearest recent filing is for its Lithuanian operating subsidiary, Wargaming Vilnius UAB, which reported €74,499,278 in revenue for the year ended March 31, 2026, and €5,032,816 in net profit. That is subsidiary revenue, not proof that the worldwide Wargaming group made €74.5 million.
Wargaming Vilnius’ revenue was €81,851,416 in the previous April 2024–March 2025 year, so the latest reported figure fell by about 9%. Other numbers often cited online refer to a different period, a management estimate, or Lesta’s separate Russian operation. Keeping those scopes apart is essential to answering how much money Wargaming makes.
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Wargaming Vilnius reported €74,499,278 of revenue for its financial year from April 1, 2025, through March 31, 2026. The same filing shows €5,032,816 in net profit. The figures come from registry-derived financial reports identified as Registrų centras data and are also reported by LRT/BNS.
These are the latest specific numbers in the supplied evidence, but they belong to Wargaming Vilnius UAB, a Lithuanian company owned by Cyprus-registered Wargaming Group Limited. They should therefore be labeled “Wargaming Vilnius revenue.” The available sources do not establish a current consolidated revenue total covering every Wargaming entity, territory, and subsidiary.
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| Reporting period | Entity | Revenue | Net profit | What it means |
|---|---|---|---|---|
| April 1, 2025–March 31, 2026 | Wargaming Vilnius UAB | €74,499,278 | €5,032,816 | Latest reported operating-company result |
| April 1, 2024–March 31, 2025 | Wargaming Vilnius UAB | €81,851,416 | €5,849,289 | Prior year for comparison |
| Calendar 2012 | Wargaming group historical figure | €217.9 million | €6.1 million | Historical benchmark, not a current total |
Prices checked November 2026.
The 2026 revenue decrease is approximately 9.0%: the €7,352,138 reduction divided by the prior year’s €81,851,416. Net profit declined by about 14%, from €5,849,289 to €5,032,816. Using the filed numbers, Wargaming Vilnius’ net margin was roughly 6.8% in the latest year, compared with about 7.1% in the preceding year. A subsidiary margin is not the same thing as the group’s margin.
For the filing data and company-level figures, see the Wargaming Vilnius financial reports.
Is €74.5 million Wargaming’s worldwide annual revenue?
No. It is a reported figure for one operating company. Private groups can earn revenue through multiple legal entities, and a local filing may include development, publishing, support, or other services handled by that entity rather than all customer sales worldwide.
A consolidated group statement would combine the parent and relevant subsidiaries, remove transactions between companies in the same group, and present one set of accounting policies. No such current consolidated statement appears in the reviewed sources. Consequently, it is not accurate to headline €74.5 million as “Wargaming’s global revenue” without a qualification.
The historical figure of €217.9 million revenue and €6.1 million net profit in 2012, cited in the company’s Wikipedia entry from a Cyprus Stock Exchange annual report, provides context for the company’s earlier scale. It is more than a decade old and cannot be used as a 2026 estimate. Currency, company structure, game launches, and geographic operations have all changed since then.
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How much revenue did Wargaming lose after leaving Russia and Belarus?
Wargaming’s chief financial officer, Andrew Tenney, said in a 2023 interview that leaving Russia and Belarus removed approximately one-third of the company’s monthly audience and one-third of its revenue: “So, that’s a third of our monthly audience, a third of our revenue.” The statement is reproduced in The Armored Patrol’s publication of the WOT Express interview.
This is management commentary, not an audited annual revenue bridge. It indicates the strategic and commercial shock of the exit, but it does not reveal the group’s pre-exit annual revenue, the exact months used, or how the lost share was distributed among games and territories. Do not multiply “one-third” by €74.5 million: the subsidiary filing and the CFO’s monthly group-level comment have different scopes.
After the exit, Tenney described investment concentrating on Wargaming’s existing vehicular-combat portfolio, including World of Tanks on PC, World of Tanks Blitz, and World of Tanks Modern Armor. The company’s current operating footprint also includes World of Warships and World of Warships: Legends.
Does World of Tanks make most of Wargaming’s money?
World of Tanks is central to Wargaming’s portfolio, but the reviewed evidence does not provide a current product-by-product revenue split. It is therefore impossible to state a sourced amount for World of Tanks alone or to prove what percentage of group revenue comes from it.
LRT’s report identifies Wargaming Vilnius as developing and supporting World of Tanks, World of Warships, World of Tanks Blitz, and World of Warships: Legends, and notes the introduction of World of Tanks: Heat in 2026. These are live-service, free-to-play games whose commercial model generally combines a free base game with optional purchases, but the sources do not disclose the split among subscriptions, premium items, battle passes, advertising, licensing, or other categories.
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That portfolio structure matters when interpreting revenue. A strong result in one title can be offset by player migration, regional restrictions, content timing, or increased operating costs elsewhere. Without segment notes, any precise allocation would be speculation.
Does Lesta’s Russian revenue count as Wargaming revenue?
No—not in the current Wargaming Vilnius figure. Russian reporting attributed 24.8 billion rubles of 2024 revenue to Lesta Games Agency, the Russia-based operation that became separate from Wargaming after the company’s Russia-and-Belarus exit. RBC’s report discusses the Lesta financial figures in that separate Russian context.
Lesta’s number is in rubles, covers a calendar year, and describes a different legal and operating scope. Adding 24.8 billion rubles to €74.5 million would mix currencies, periods, and entities. Even a conversion at a chosen exchange rate would not make the combination an audited Wargaming group total.
When you see a large “Wargaming” revenue claim, check four things first:
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- Scope: Is it Wargaming Vilnius, a consolidated Wargaming entity, or former Lesta operations?
- Period: Does it cover April–March, a calendar year, or a shorter management reporting window?
- Currency: Are the figures in euros, rubles, dollars, or another currency?
- Evidence: Is the source a filed statement, registry table, management interview, or secondary report?
Is Wargaming a billion-dollar company?
The reviewed evidence does not establish that Wargaming currently earns $1 billion or €1 billion in annual revenue. The latest disclosed operating-company revenue is €74.5 million, while the older 2012 group benchmark was €217.9 million. Neither number supports a current billion-dollar conclusion.
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“Billion-dollar company” can also mean valuation rather than annual sales. A private company’s valuation, revenue, profit, and cash generation are different measures, and the available data contains no current audited valuation. Avoid treating an old revenue estimate, a private-market valuation, or a combined figure that includes Lesta as interchangeable.
How should you read Wargaming’s profit figures?
Revenue is money recognized from the company’s business activities; net profit is what remains after operating expenses, salaries, platform fees, taxes, financing, depreciation, and other costs recorded under the entity’s accounting rules. Wargaming Vilnius’ €5.03 million net profit is therefore not the amount its games collected from players, nor the cash held by the whole group.
The year-on-year pattern—lower revenue and lower profit—shows pressure at the Lithuanian operating company, but it does not identify the cause. Exchange rates, content spending, staff costs, restructuring, platform commissions, tax, and intercompany charges can all affect profit. The supplied filings do not provide enough detail to attribute the change to any one factor.
What does Wargaming sell besides in-game purchases?
Wargaming also licenses and promotes physical merchandise tied to its games. Its official World of Tanks pages describe World of Tanks. Journey Through Art as an official Cook and Becker art book, and separately announce the Firepower and Can Openers books. Other official merchandise announcements identify Metal Time tank models and Reobrix building sets, while a Tankfest promotion points readers toward museum-shop merchandise.
These products are useful evidence of brand monetization beyond the games, but the sources do not disclose their sales totals or share of Wargaming revenue. Product availability, pricing, and regional shipping can change, so an item listing should not be treated as a financial disclosure. The official announcements are available for the art book, Firepower and Can Openers books, and Tankfest merchandise.
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What is the most defensible answer to “How much money does Wargaming make?”
The most defensible answer is: Wargaming Vilnius reported €74.5 million in revenue and €5.03 million in net profit for April 2025–March 2026, but no current consolidated worldwide Wargaming revenue total is established by the reviewed sources. Revenue was down about 9% from the prior Wargaming Vilnius year. Wargaming’s CFO separately said the Russia-and-Belarus exit removed about one-third of monthly audience and revenue, while Lesta’s 24.8 billion rubles of 2024 revenue belongs to a separate Russian operation.
That wording is less dramatic than a single global estimate, but it is the only way to keep the published numbers comparable and avoid presenting a subsidiary, a management comment, and a former affiliate as one audited result.
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Frequently Asked Questions
Why does Wargaming report on an April-to-March year instead of the calendar year?
Wargaming Vilnius’ filed accounts in the supplied evidence cover April 1 through March 31. Comparing them with a calendar-year figure can shift launches, seasonal spending, and player purchases between periods, so the dates should always be shown alongside the amount.
Can I convert Lesta’s 24.8 billion rubles into euros and add it to Wargaming’s revenue?
No. A currency conversion would still leave different legal entities and reporting periods. Combining them would require audited evidence that the entities belong in one consolidated statement and an agreed exchange-rate method.
Why can revenue fall while a game remains popular?
Player counts do not translate directly into recognized revenue. Purchasing behavior, regional pricing, platform fees, content timing, refunds, exchange rates, and operating costs can change financial results even when a title maintains a large audience.
Where can I find Wargaming’s official merchandise announcements?
Wargaming’s World of Tanks site has announcements for its art book, the Firepower and Can Openers books, and selected model and building-set merchandise. Those pages describe products, not the company’s revenue or profit from them.
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