GDEV earned nearly $100 million in the first quarter of 2026
The developer and publisher of the Hero Wars series shared their financial results for the first three months of 2026. This period was quite favorable for GDEV.
Hero Wars
- As GDEV writes, the company's revenue for the quarter amounted to $99 million, which is 2% higher than at the start of 2025.
- Cash inflows, known as deferred revenue, also grew by the same 2%, reaching $83 million.
- The overwhelming majority of inflows came from in-game purchases — $78 million (+3%). An additional $5 million was generated from advertising (+1%).
- The share of PC-generated revenue decreased. Last year it was 41%, but now it is 36%, indicating that GDEV continues to earn the majority of its revenue from mobile platforms.
- The geographical distribution of GDEV's revenue is as follows: Europe accounts for 32%, the USA for 31%, and Asia for 18%.
- GDEV's profit rose by 22%, reaching $17 million.
- Recently, GDEV has been spending less on game promotion. Its marketing expenses decreased by 13% to $37 million for the quarter. However, the company's general and administrative expenses increased by 23% to $10 million.
- This change in marketing strategy affected the size of GDEV's monthly paying audience. The number of such gamers decreased from 284,000 to 269,000. However, they became more generous — the average revenue per paying user (ARPPU) increased by 8% to $97.