Core Insights - GDEV Inc. reported a sequential revenue growth in Q3 2024 despite industry pressures, with a revenue of $111 million, a decrease of 9% year-over-year [1][6][10] - The company is focused on long-term innovation rather than quick wins, enhancing core products to improve player experience [2] - GDEV established an at-the-market offering to increase stock liquidity, allowing the sale of up to 1,757,026 ordinary shares [3] Financial Performance - Q3 2024 revenue was $111 million, down from $121 million in Q3 2023, with a 9% decrease year-over-year and a 5% increase quarter-over-quarter [5][6] - Total bookings for Q3 2024 were $93 million, an 8% decline from $102 million in Q3 2023, attributed to a 16% decrease in monthly paying users [11][12] - Selling and marketing expenses rose to $52 million, a 22% increase year-over-year, reflecting the company's strategy to scale its business [6][9] Operational Highlights - The adjusted EBITDA for Q3 2024 was $16 million, down from $29 million in Q3 2023, indicating a 44% decrease [10][21] - The cash position improved to $153 million from $140 million at the end of Q2 2024, providing opportunities for further expansion [6] - The European share of bookings increased by 4 percentage points to 30%, driven by targeted user acquisition campaigns [6] Cost Management - Game operation costs remained stable at $13 million, while general and administrative expenses decreased by 9% year-over-year to $7 million [6][9] - Platform commissions decreased by 13% to $24 million, influenced by a 9% drop in revenues from in-game purchases [8] Geographic and Platform Insights - The share of bookings by geography remained stable, with the US at 34%, Asia at 22%, and Europe at 30% [14] - The split of bookings by platform showed a slight increase in PC bookings to 38% compared to 37% in Q3 2023 [13]

Core Viewpoint - GDEV Inc. has experienced a significant stock price increase of 23.2% over the past month, outperforming both the industry and major indices, indicating strong market confidence and potential for continued growth [1][2][13]. Stock Performance - GDEV's stock closed at $31.41, which is below its 52-week high of $37.89 but above its 52-week low of $19 [2]. - The stock is currently trading above its 50-day moving average, suggesting robust upward momentum and price stability [3][13]. Factors Driving Growth - GDEV's strategic vision focuses on sustainable growth and operational efficiency, which is expected to enhance player experiences and solidify market position [7][8]. - The company is prioritizing product development and adopting a disciplined approach to user acquisition, reserving cash for future investments [8][9]. - Successful product initiatives, such as the launch of Pixel Gun 3D on Steam, have led to a 10% increase in monthly active users and a 45% growth in monthly paying users [10]. Earnings Estimates - Analysts have revised the Zacks Consensus Estimate for GDEV's earnings per share upward by 300% to 60 cents for the current year and by 126.7% to $1.36 for the next year [11]. Valuation - GDEV is currently trading at a forward 12-month price-to-earnings ratio of 26.25, which is lower than the industry's ratio of 28.37, indicating it is valued at a discount compared to its peers [12][13].

Group 1: Company Overview - GDEV Inc. is part of the Consumer Discretionary sector, which includes 272 individual stocks and currently holds a Zacks Sector Rank of 7 [2] - GDEV Inc. has a Zacks Rank of 1 (Strong Buy), indicating strong analyst sentiment and an improving earnings outlook, with a 48.8% increase in the consensus estimate for full-year earnings over the past quarter [3] Group 2: Performance Comparison - GDEV has gained approximately 45.8% year-to-date, significantly outperforming the average return of 5.1% for Consumer Discretionary companies [4] - In comparison, H&R Block (HRB), another Consumer Discretionary stock, has returned 29.2% since the beginning of the year [4] - GDEV belongs to the Gaming industry, which includes 41 stocks and is currently ranked 145 in the Zacks Industry Rank, with an average gain of 15.4% year-to-date, indicating GDEV's superior performance within its industry [5] Group 3: Industry Insights - The Gaming industry, where GDEV operates, has shown a year-to-date gain of 15.4%, while the Consumer Services - Miscellaneous industry, which includes H&R Block, has gained 7.3% [5][6] - Investors should continue to monitor GDEV Inc. and H&R Block for potential sustained solid performance in the Consumer Discretionary sector [6]

Company Overview - GDEV Inc. (GDEV) shares increased by 34.7% to $33.02 in the last trading session, with a higher-than-average trading volume, contrasting with a 2.1% gain over the past four weeks [1] - The stock rally is attributed to optimism regarding the company's refined strategic vision focused on sustainable growth and operational efficiency [2] Financial Performance - GDEV is expected to report quarterly earnings of $0.38 per share, reflecting a year-over-year decline of 68.3%, with revenues projected at $103.85 million, down 14.4% from the previous year [3] - The consensus EPS estimate for GDEV has been revised 50% higher in the last 30 days, indicating a positive trend that may lead to price appreciation [4] Industry Context - GDEV operates within the Zacks Gaming industry, where Nintendo Co. (NTDOY) also competes, having closed at $13.37 with a 0.4% increase in the last session and a -2.1% return over the past month [4] - Nintendo's consensus EPS estimate remains unchanged at $0.09, representing a 30.8% decline from the previous year, and it holds a Zacks Rank of 2 (Buy) [5]

Company Overview - GDEV Inc is an international gaming and entertainment company with a diverse portfolio of gaming studios and franchises such as Hero Wars, Island Hoppers, and Pixel Gun 3D, which have accumulated hundreds of millions of installs worldwide [6] - The company operates through subsidiaries including Nexters and Cubic Games, focusing on developing and growing its franchise portfolio across various genres and platforms [6] ATM Offering Details - GDEV has entered into a Sales Agreement with Cantor Fitzgerald & Co and Oppenheimer & Co Inc to offer and sell 1,757,026 ordinary shares held in treasury through an "at the market offering" (ATM Offering) [1] - The shares being offered were previously acquired through a tender offer that expired in January 2024, and no new ordinary shares will be issued in connection with the ATM Offering [1] - The offering will be made pursuant to the company's registration statement on Form F-3 (Registration No 333-282062) and the related prospectus filed with the SEC on September 12, 2024 [2] - The shares will be sold at market prices prevailing at the time of sale or at prices related to such prevailing market prices, and the agents will use commercially reasonable efforts to sell the shares based on the company's instructions [2] Purpose of the ATM Offering - The reintroduction of the shares via the ATM Offering aims to bolster the trading liquidity of the shares by increasing its public float [4] - The company intends to use the net proceeds from the ATM Offering primarily for general corporate purposes, including working capital [4] Availability of Prospectus - Copies of the prospectus relating to the ATM Offering may be obtained from Cantor Fitzgerald & Co and Oppenheimer & Co Inc, or by visiting EDGAR on the SEC's website [2][3]

Financial Data and Key Metrics Changes - In Q2 2024, the company generated revenue of $106 million, a decrease from $115 million in Q2 2023, primarily due to a decrease in the recognition of deferred revenue [6][12] - Bookings decreased by 3% year-over-year, mainly due to a decline in advertising revenue, while in-app purchases remained stable [6][12] - Platform commissions decreased by 16% year-over-year, driven by lower revenues from in-game purchases and a higher share of revenues from the web platform [7] - The company reported a net profit of $15 million and adjusted EBITDA of $16 million, a slight increase of $600,000 compared to the same period in 2023 [12] Business Line Data and Key Metrics Changes - Hero Wars: Dominion Era showed flat bookings year-over-year, with average bookings per paying user growing by 6% quarter-over-quarter and 3% year-over-year [14] - Hero Wars: Alliance experienced a 4% year-over-year decrease in bookings, but remained flat quarter-over-quarter, focusing on product improvements for future user acquisition [15] - Pixel Gun 3D saw a 10% year-over-year increase in monthly active users and a 45% increase in monthly paying users, indicating strong brand recognition [17] - Island Hoppers improved retention and monetization of paying users, with a focus on building marketing infrastructure for future user acquisition [18] Market Data and Key Metrics Changes - The U.S. market contributed 34% of total bookings, while the European region increased its share by five percentage points to 29% [19] - The share of PC revenue increased by four percentage points year-over-year, attributed to the release of Pixel Gun 3D on Steam and good performance of Hero Wars: Dominion Era [19] Company Strategy and Development Direction - The company aims to enhance user experience and increase retention, engagement, and monetization metrics, with plans to reinvest gains into user acquisition during peak seasons [20] - The focus is on product development rather than aggressive marketing spending until products are optimized [21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in future growth due to improved market predictability and internal initiatives enhancing business efficiency [10][30] - The company does not expect substantial increases in advertising monetization but anticipates strong in-app purchases [28] Other Important Information - The company is working on a program to improve stock liquidity and broaden the shareholder base, which may take several months to implement [35][37] Q&A Session Summary Question: Marketing spend and user scale relationship - Management expects marketing spend in Q3 to be comparable to Q2, focusing on product development before increasing spending in Q4 [21] Question: Potential for expanding Hero Wars distribution on PC - Management sees promise in the Steam platform and plans to prepare the product for a larger scale launch in 2025 [22] Question: Outlook on CPM rates - Management noted that CPM rates have stabilized and do not expect substantial deviations in the near term [24][25] Question: Bookings and user acquisition effectiveness - Management indicated that the trend of stable in-app purchases and declining advertising monetization is expected to continue, with solid growth anticipated in H2 2024 [28] Question: Strategy to improve stock liquidity - Management acknowledged the need for increased visibility and plans to participate in more investor conferences and roadshows [35][38]

LIMASSOL, Cyprus, Aug. 28, 2024 (GLOBE NEWSWIRE) -- GDEV Inc. (NASDAQ: GDEV), an international gaming and entertainment company ("GDEV" or the "Company"), announces that its financial results for the second quarter ended June 30, 2024 will be released at 8:00 a.m. (Eastern Time) on Wednesday, September 4, 2024. GDEV will host a conference call and webcast to discuss its results at 09:00 a.m. U.S. Eastern Time the same day. The press release, as well as supplementary slides will be available at gdev.inc. To ...

LIMASSOL, Cyprus, May 28, 2024 (GLOBE NEWSWIRE) -- GDEV Inc. (NASDAQ: GDEV), an international gaming and entertainment company ("GDEV" or the "Company") released its preliminary unaudited financial and operational results for the first quarter ended March 31, 2024. Financial highlights: First quarter 2024: Revenue of $107 million decreased by 10% year-over-year. Bookings of $109 million increased by 4% year-over-year. Loss for the period of $1 million in Q1 2024 vs. loss of $8 million in Q1 2023. Adjusted E ...

LIMASSOL, Cyprus, May 28, 2024 (GLOBE NEWSWIRE) -- GDEV Inc. (NASDAQ: GDEV), an international gaming and entertainment company ("GDEV" or the "Company") released its preliminary unaudited financial and operational results for the first quarter ended March 31, 2024. Financial highlights: First quarter 2024: Revenue of $107 million decreased by 10% year-over-year. Bookings of $109 million increased by 4% year-over-year. Loss for the period of $1 million in Q1 2024 vs. loss of $8 million in Q1 2023. Adjusted E ...

Core Viewpoint - GDEV Inc. is set to release its financial results for Q1 2024 on May 28, 2024, at 4:00 p.m. Eastern Time, with additional materials available on its website [1] Company Overview - GDEV is an international gaming and entertainment company that operates a hub of gaming studios, focusing on the development and growth of its franchise portfolio across various genres and platforms [2] - The company includes subsidiaries such as Nexters and Cubic Games, aiming to create engaging games that inspire millions of players [2] - GDEV's franchises, including Hero Wars, Island Hoppers, and Pixel Gun 3D, have achieved hundreds of millions of installs globally [2]