HEROIC has officially announced a breakthrough year in its financial performance, marking its first-ever profitable year. The esports organization shared on LinkedIn that it achieved record-high revenue and strong EBITDA (earnings before interest, taxes, depreciation, and amortization), reflecting a significant financial turnaround.
The Key Factors Behind HEROIC’s Success
According to HEROIC, several major revenue streams contributed to its financial milestone. The organization credited high sponsorship income, successful agency work, and revenue generated from player transfers as primary drivers of its profitability. However, specific financial figures were not disclosed.
Throughout 2024, HEROIC strengthened its business portfolio with key sponsorships. It secured partnerships with sportswear brand Joma and blockchain platform Polkadot. One of its biggest deals was a multi-year agreement with esports-focused crypto betting platform Thunderpick, which led to the launch of the ‘Path to Pros’ Counter-Strike 2 tournament in June 2024.
“We’re incredibly proud of last year’s success and very excited for our growth to continue into 2025,” HEROIC shared in its LinkedIn announcement. The organization emphasized its commitment to delivering value to partners, creating top-tier content, and maintaining competitive excellence.
HEROIC Esports (image via Getty)A Year of Competitive Achievements
Beyond financial success, HEROIC also celebrated major competitive milestones across multiple esports titles in 2024. The organization secured a runner-up finish at the Fortnite Global Championship and claimed third place at the Esports World Cup.
One of its most significant achievements came in Dota 2, where HEROIC won the PGL Wallachia Season 2, a tournament boasting a $1 million (~£789,000) prize pool. This victory was especially notable as it marked the organization’s first year competing in the Dota 2 scene.
HEROIC also continued to shine in Counter-Strike 2, its most recognized esports division. The team recently qualified for the Intel Extreme Masters (IEM) Dallas in May 2025, reinforcing its strong presence in competitive gaming terrain.
From Financial Struggles to Profitability
HEROIC’s financial success in 2024 stands in stark contrast to the challenges it faced in the previous year. In early 2023, the organization was in a precarious financial position, requiring urgent funding to sustain operations.
In March 2023, HEROIC secured NOK 10 million (£6.2 million) in additional funding through 2025, including NOK 10 million by summer 2023.
To stabilize its finances, HEROIC accepted a cash acquisition offer in May 2023 from Krow Bidco AS. The publicly traded company agreed to sell all outstanding shares at NOK 2.0 (~£0.15) per share, a critical move that paved the way for its financial recovery.
HEROIC’s Growth Across Esports Titles
Founded in 2016, HEROIC has expanded its competitive reach across several major esports titles. The Norwegian organization competes in VALORANT, PUBG Mobile, Fortnite, and Dota 2. However, it remains most recognized for its Counter-Strike 2 roster, which continues to perform at a high level in international tournaments.
The organization’s return to profitability highlights a growing trend among esports teams finding ways to sustain long-term financial success. HEROIC’s announcement comes shortly after Karmine Corp, a leading French esports organization, reported profitability for the second consecutive year.
What’s Next for HEROIC?
With a strong financial foundation, strategic partnerships, and consistent competitive performances, HEROIC appears poised for continued growth in 2025. The organization’s leadership remains focused on delivering high-quality content, securing valuable sponsorships, and excelling in tournaments across multiple gaming titles.
As the esports industry continues to evolve, HEROIC’s ability to maintain its profitability will be a key factor in its long-term success. With ambitious goals and a solidified position in the competitive terrain, the organization is set to make an even bigger impact in the years ahead.
