GDEV report: there are more paying users, the Hero Wars: Alliance box office has reached $1.2 billion
GDEV (formerly Nexters) has summarized the financial results of the third quarter and the first nine months of 2023. We have selected the main thing from the report.
Indicators for the third quarter:
- GDEV's revenue was $121 million. It decreased by 5% year-on-year, but increased by 6% compared to the previous quarter;
- GDEV's profit reached $24 million. This is a quarter less than a year ago, but 20% more than in the previous quarter;
- revenues fell by 6% compared to last year and amounted to $102 million;
- 63% of the revenue came from mobile platforms, 37% from PC;
- The United States is still responsible for most of the revenue (35%). Next are Europe (26%) and Asia (23%);
- The average revenue from a paying user was $84. In the third quarter of 2022, they amounted to $113;
- the number of monthly paying users is 375 thousand people. Growth of 23% in annual terms;
- advertising and marketing expenses doubled over the year to $43 million, game operating expenses increased by 19% to $12 million, general/administrative expenses decreased by 45% to $7 million;
- The share of payments to platforms (App Store, Google Play and others) decreased by 23% year-on-year. It amounted to $28 million.
Indicators for January-September:
- The company's revenue amounted to $355 million. It decreased by 7% compared to revenue in 2022;
- profit for the year decreased by 58% to $35 million;
- Revenues totaled $316 million, down 9% year-on-year;
- as in the third quarter, 63% of revenues came from mobile, and 37% from PC;
- The regional distribution of revenues is as follows: USA — 36%, Europe — 25%, Asia — 24%;
- The average revenue from a paying user is $85. Last year they were $108;
- the number of monthly paying users is 383 thousand people. Growth of 13% in annual terms;
- the most significant item of the company's expenses during the period was marketing along with advertising. GDEV spent $172 million (+53%) on this. The cost of operating the games amounted to $39 million (+27%), and general/administrative expenses amounted to $22 million (-21%);
- The share of payments to platforms amounted to $84 million. This is 20% less than last year.
GDEV also talked about the success of the games:
- revenues in the mobile Hero Wars: Alliance reached $ 1.2 billion, in the desktop Hero Wars: Dominion Era — $ 350 million;
- The Island Hoppers farm simulator in softlonch (November 2021 - October 2023) collected more than $30 million in revenue and 12 million downloads;
- The mobile version of Pixel Gun 3D has been downloaded 185 million times. Its revenue is over $ 200 million. The PC version of the game, which is scheduled for release in the first quarter of 2024, has collected 260 thousand vishlist on Steam.
