We were delighted to chat to Erla Gunnhildardóttir, who has built a hugely impressive career as a CFO in the games industry, working with leading companies such as Supercell and CCP Games, best known for the smash hit Eve Online.
Tell me about your career so far.
I’ve spent over 15 years operating at the intersection of Finance and Gaming. My journey has taken me from Iceland to Finland and back, working with some of the industry's biggest names.
I spent seven years at CCP Games, where I led FP&A for three global studios and helped navigate the company through significant restructuring and its eventual €425M sale to Pearl Abyss. Following that, I moved to Helsinki to join Supercell. As the FP&A Lead there, I helped scale the financial infrastructure for a €2.8B global business, implementing modern planning systems and focusing heavily on financial storytelling.
Today, I’ve returned to my entrepreneurial roots as the Founder of Figures, serving as a Fractional CFO and Board Member. I bridge the gap between high-level governance (backed by Harvard’s Corporate Director Program) and Leadership coaching (With Co-Active Training Institute), ensuring that financial rigor always supports the people behind the numbers.
How does the nature of a finance leadership role differ in the games industry compared to other sectors?
In traditional sectors, you often have a predictable widget to sell. In gaming, we are “manufacturing entertainment”, which is inherently volatile. The biggest difference is that you cannot strictly “budget” your way to a hit game. In fact, an obsession with tight budgets can often strangle the creativity needed to produce one.
Finance cannot be a police officer; it has to be an enabler. We provide the safety net and the runway so that creative teams have the time and space to find the 'fun' without worrying that the lights will go out next month.
Have finance roles evolved during your career in the games industry?
Drastically. We’ve moved from being "scorekeepers" (reporting past expenses) to "growth engines." Today, we use operational KPIs and real-time data to model the future. We are now strategic Business Partners, providing the scenario modeling that helps creative leaders decide whether to kill a project or double down. We don’t just report the news anymore; we help make it.
How do you approach financial forecasting in a fundamentally hit-driven industry?
You have to accept that you cannot predict a hit. Instead, I focus on Scenario Planning.
I advise studios to ditch static annual budgets for monthly rolling forecasts. You need three distinct lenses: a Base Case (stability), a Bear Case (survival), and a Bull Case (viral success).
It shifts the conversation from "guessing the future" to "being prepared for any future."
Which metrics are typically most important for different kinds of games companies?
It depends entirely on the business model and the stage of the company:
- Early-stage: Cash Runway is the only metric that matters.
- Live Service (F2P): We obsess over Retention (D1, D7, D30) and LTV vs. CAC. You must prove the unit economics before scaling.
- Premium PC/Console: It’s about wishlist velocity, pre-orders, and DLC attach rates.
- As a Board Member: I also track Team Health. Burnout is a financial risk that eventually hits the balance sheet.
What do you see as the role of the modern CFO?
The modern CFO is a strategic business partner, driving growth, innovation and digital transformation by using financial data to guide major decisions, manage risk, and influence overall company direction, acting as a vital link between finance and operations.
Ultimately the modern CFO needs to be the "Chief Storyteller“ to drive change.
How do you build trust between finance and game development teams?
It starts with deep listening and translation. If I speak purely in accounting terms, I create a barrier. If I explain how a budget decision impacts a team’s ability to hire or improve player experience, we connect. I view Finance as a service function rooted in Servant Leadership. My job is to serve the teams so the business can thrive.
What advice would you give to someone looking to pursue a career in finance in the games industry?
First, Play the games and understand the player psychology and the underlying economics at play.
Second, Master the tools: Excel is the baseline; learn SQL, Tableau, or Pigment.
Finally, Learn to communicate: The most valuable finance professionals can sit in a room with a Creative Director and a Board Member and speak both languages fluently.
Overall, be curious, be humble, and be ready to adapt to anything.
Further Information
To find out more about Erla, please visit her website
Neon River is a headhunting firm that specializes in working with games companies around the world.