GDEV Reports Growth Amid Strategic Scaling Efforts

Nexters (GDEV) has released an update.

GDEV Inc., a global gaming company, reported a 5% sequential revenue growth in Q3 2024, despite a 9% decline year-over-year, reflecting industry pressures and strategic scaling efforts. The company saw a 22% increase in marketing expenses aimed at expanding its business, while maintaining a disciplined cost approach, resulting in a net profit of $15 million for the period. With a robust cash position of $153 million, GDEV is well-positioned for future growth, further supported by the recent appointment of Olga Loskutova as COO.

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