Company Overview - GDEV Inc. (GDEV) shares increased by 26.2% in the last trading session, closing at $21.42, with notable trading volume compared to typical sessions. This follows a 40.1% gain over the past four weeks [1][2]. Performance Drivers - The recent stock surge is attributed to investor optimism surrounding successful game launches and an expanding market presence, particularly the strong performance of titles like Pixel Gun 3D on PC and robust earnings results [2]. - Attractive valuation metrics and operational efficiency are also contributing to positive investor sentiment towards GDEV [2]. Earnings Expectations - GDEV is expected to report quarterly earnings of $0.42 per share, reflecting a year-over-year decline of 46.8%. Revenues are anticipated to be $96.5 million, down 12.8% from the previous year [3]. - The consensus EPS estimate for the quarter has been revised 21% lower over the last 30 days, indicating a negative trend in earnings estimate revisions, which typically does not lead to price appreciation [4]. Industry Context - GDEV Inc. is part of the Zacks Gaming industry, which includes other companies like Roblox (RBLX). RBLX closed the last trading session at $135.18, down 0.3%, and has returned 18% in the past month [5].

Core Insights - GDEV Inc. reported a revenue increase of 13% year-over-year in Q2 2025, reaching $120 million, driven by higher in-app purchases despite a decline in advertising bookings [4][9] - The company recorded a profit for the period, net of tax, of $17 million in Q2 2025, up from $15 million in Q2 2024, and an adjusted EBITDA of $22 million, reflecting a 30% increase [7][9] - For the first half of 2025, revenue increased by 2% year-over-year to $217 million, with a significant profit increase to $31 million compared to $9 million in the same period of 2024 [10][13] Financial Performance - Q2 2025 revenue was $120 million, up from $106 million in Q2 2024, while H1 2025 revenue was $217 million compared to $213 million in H1 2024 [3][10] - Platform commissions increased by 10% to $25 million in Q2 2025, while game operation costs rose to $14 million, reflecting a 15% increase [5][6] - Selling and marketing expenses in Q2 2025 were $53 million, an 11% increase year-over-year, attributed to performance marketing tests [6][9] Operational Performance - Bookings declined by 14% in Q2 2025 to $92 million and by 20% in H1 2025 to $173 million, primarily due to an 18% decrease in monthly paying users [15][17] - The share of advertising sales as a percentage of total bookings decreased to 5.9% in Q2 2025 from 6.2% in Q2 2024, driven by declining CPM rates [18] - The split of bookings by platform showed an increase in mobile share to 63% in Q2 2025, while the geographical split remained stable across regions [19][21] Cash Flow and Investments - Cash flows from operating activities were negative $10 million in Q2 2025, compared to positive $11 million in Q2 2024, mainly due to decreased bookings and increased marketing expenses [8][14] - The company maintains a strong cash position of $93 million, providing resources for potential future strategic investments [9]

Core Insights - GDEV Inc. has announced the acquisition of Light Hour Games, a mobile game studio based in Cyprus, enhancing its gaming portfolio and capabilities [1][3]. Group 1: Acquisition Details - The acquisition of Light Hour Games represents a strategic partnership that allows the studio to maintain creative freedom while benefiting from GDEV's financial support [3][4]. - Light Hour Games is a full-stack studio that utilizes AI-first workflows for rapid game development and high-quality execution, operating with a team of 15 experienced professionals [2][6]. Group 2: Strategic Implications - GDEV aims to leverage Light Hour Games' expertise and innovative approaches to enhance its growth strategy and bring fresh ideas to the mobile gaming genre [4]. - The partnership will provide Light Hour Games with access to GDEV's knowledge and data platforms, facilitating further development and operational support [3][5]. Group 3: Company Background - GDEV Inc. is a gaming and entertainment holding company with a diverse portfolio, including subsidiaries like Nexters and Cubic Games, and has achieved over 550 million installs and $2.7 billion in bookings globally [5]. - Light Hour Games focuses on creating emotionally engaging and scalable mobile casual games that evolve with player interaction [6].

Core Viewpoint - GDEV Inc. announces the departure of Chief Operating Officer Olga Loskutova effective July 1, 2025, after her successful establishment of operational frameworks since October 2024 [1][2]. Company Overview - GDEV Inc. is an international gaming and entertainment holding company focused on the development and growth of its franchise portfolio across various genres and platforms [2]. - The company has a diverse range of subsidiaries, including Nexters and Cubic Games, and aims to create engaging games for millions of players [2]. - GDEV's franchises, such as Hero Wars, Island Hoppers, and Pixel Gun 3D, have achieved over 550 million installs and generated $2.5 billion in bookings globally [2].

Core Insights - GDEV Inc. reported a revenue decline of 9% year-over-year in Q1 2025, totaling $97 million, primarily due to a reduction in bookings compared to the previous year [4][7][9] - The company achieved a profit of $14 million in Q1 2025, a significant improvement from a loss of $5 million in Q1 2024, largely driven by reduced selling and marketing expenses [7][8][19] - Adjusted EBITDA for Q1 2025 was $16 million, a notable increase from a loss of $0.9 million in the same period last year [8][18] Financial Performance - Revenue for Q1 2025 was $97 million, down from $107 million in Q1 2024, reflecting a 9% decrease [3][4] - Platform commissions decreased by 13% to $20 million, influenced by a 6% drop in revenues from in-game purchases [5] - Selling and marketing expenses fell by 33% to $42 million, attributed to a more efficient user acquisition strategy [6][7] - General and administrative expenses remained stable at $8 million [6] - Cash flows from operating activities improved to $6 million from $0.4 million in Q1 2024 [8] Operational Performance - Total bookings in Q1 2025 were $81 million, down 25% from $109 million in Q1 2024, primarily due to a 26% decline in monthly paying users [9][10] - Bookings from in-app purchases decreased by 24% to $76 million, while advertising bookings fell by 42% to $5 million [9][10] - The average bookings per paying user (ABPPU) increased by 2% to $90 [9] - The share of advertising as a percentage of total bookings decreased to 5.9% from 7.7% [10] Geographic and Platform Breakdown - The distribution of bookings by platform showed mobile at 59% and PC at 41%, with little change from the previous year [11] - Geographic distribution remained stable, with the US at 34%, Asia at 20%, Europe at 31%, and other regions at 15% [12]

Core Viewpoint - GDEV Inc. announces the development of Pixel Gun 2, a fully cross-platform sequel to Pixel Gun 3D, set to launch in early 2026, enhancing the gaming experience while retaining the franchise's pixel-art style [1][2][3] Group 1: Company Overview - GDEV is an international gaming and entertainment company focused on developing and growing its franchise portfolio across various genres and platforms [4] - The company has a diverse range of subsidiaries, including Nexters and Cubic Games, and aims to create engaging games for millions of players [4] - GDEV's franchises have accumulated over 550 million installs and generated $2.5 billion in bookings worldwide [4] Group 2: Pixel Gun 3D Achievements - Pixel Gun 3D has celebrated its 12th year of operation, achieving over 300 million installs since its launch in 2013 [2] - The game maintains a community of 3 million monthly active users and has generated more than $230 million in bookings, making it one of the top first-person shooter games globally [2] Group 3: Features of Pixel Gun 2 - Pixel Gun 2 will offer fast-paced, accessible gameplay that balances competitive depth with simplicity, catering to both casual and serious players [6] - The game will feature enhanced graphics and gameplay mechanics while preserving the franchise's signature pixel-art aesthetic [6] - Full cross-platform play will be available across iOS, Android, Steam, and eventually consoles, creating a unified gaming ecosystem [6] - The sequel will include a mix of nostalgic and new maps, diverse game modes, and modern technology for improved performance and security [6] - The monetization model will focus on providing a fair and rewarding experience for all players [6]

Core Insights - GDEV Inc. reported a decline in revenue for Q4 2024, with total revenue of $98 million, down 11% year-over-year, primarily due to a decrease in bookings [4][6][10] - The company experienced a significant drop in profit for the period, net of tax, which fell to $2 million from $11 million in Q4 2023, attributed to increased finance expenses and losses from equity-accounted associates [8][10] - Adjusted EBITDA for Q4 2024 was $12 million, reflecting a 22% increase year-over-year, indicating improved operational efficiency despite revenue declines [6][8][20] Financial Performance - Revenue for Q4 2024 was $98 million, down from $109 million in Q4 2023, marking an 11% decrease [3][4] - Full-year revenue for 2024 totaled $421 million, a 9% decline from $465 million in 2023 [3][4] - Platform commissions decreased by 16% to $21 million in Q4 2024, driven by a 10% drop in revenues from in-game purchases [5][6] - Selling and marketing expenses decreased by 14% year-over-year to $47 million, reflecting a strategic shift towards higher-margin audiences [6][10] Operational Performance - Total bookings in Q4 2024 were $94 million, down 11% from $106 million in Q4 2023, primarily due to a 19% decline in monthly paying users [10][11] - Average Bookings Per Paying User (ABPPU) increased by 10% year-over-year to $102, indicating improved monetization [6][10] - The share of bookings from the European market grew by 5 percentage points to 32%, showcasing successful user acquisition campaigns [6][10][13] Geographic and Platform Distribution - The geographic distribution of bookings remained stable, with Europe increasing its share to 32% in Q4 2024, while the US remained at 34% [12][13] - The split of bookings by platform showed mobile at 57% and PC at 43%, consistent with the previous year [12][13] Cash Flow and Financial Position - Cash flows from operating activities were $5 million in Q4 2024, down from $10 million in Q4 2023, but the company maintained a strong cash position of $1512 million [9][10]