Nexters Inc. ( (GDEV) ) has released its Q4 earnings. Here is a breakdown of the information Nexters Inc. presented to its investors.
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GDEV Inc., an international gaming and entertainment company, focuses on developing and expanding its franchise portfolio across various platforms and genres. The company recently released its financial results for the fourth quarter and full year of 2024, revealing a decline in revenue but improvements in certain strategic areas.
For the fourth quarter of 2024, GDEV reported a revenue of $98 million, marking an 11% decrease year-over-year. Despite the revenue drop, the company saw a 22% increase in adjusted EBITDA, reaching $12 million. The decline in revenue was attributed to a reduction in bookings and monthly paying users, though this was partially offset by a 10% increase in average bookings per paying user.
GDEV’s strategic focus on the European market paid off, with the region’s share of bookings growing by 5 percentage points to 32%. The company also maintained a strong cash position of $151 million, supported by positive cash flows from operating activities. Additionally, the company’s shift in user acquisition strategy led to a 14% reduction in selling and marketing expenses year-over-year.
Looking ahead, GDEV’s management remains committed to enhancing operational efficiency and expanding its presence in key markets. The company’s strategic initiatives, including a focus on high-margin audiences and platform diversification, are expected to support future growth and profitability.