GDEV (formerly Nexters) reported financial results for the first time after returning to the stock exchange
The gaming company reported operating results for the second quarter and the first half of this year. We share the main figures from the report.
Quarterly results:
▫️revenue amounted to $115 million (a 9% year-on-year decline);
▫️receipts reached $111 million (fell by 1% year-on-year and increased by 8% quarter-on-quarter);
▫️profit was $21 million (against $33 million a year earlier);
AdjustedEBITDA fell to $17 million (compared to $37 million a year earlier);
▫️advertising and marketing expenses reached $51 million (they increased by 46% year-on-year);
The number of monthly paying users amounted to 392 thousand people (an increase of 14%).
Semi-annual results:
▫️revenue amounted to $234 million (a 7% year-on-year decline);
▫️receipts reached $214 million (fell by 11% year-on-year);
▫️profit was $12 million (78% drop);
AdjustedEBITDA fell to $5 million (91% drop);
▫️advertising and marketing expenses reached $129 million (they increased by 41% year-on-year);
The number of monthly paying users amounted to 387 thousand people (an increase of 8%).
Recall that on March 16, operations with Nexters securities, which had been in “freeze” since March 1, 2022, were resumed on the Nasdaq American Stock Exchange. In early June, the company announced its renaming to GDEV and a change of organizational structure.
