Welcome to our dedicated page for GDEV news (Ticker: GDEV), a resource for investors and traders seeking the latest updates and insights on GDEV stock.
GDEV Inc. (symbol: GDEV) is a leading name in the gaming and entertainment industry, celebrated for its innovative approach to game development and publishing. With a diverse portfolio that spans mobile, web, and social games, GDEV has captured the imagination of players worldwide. The company's flagship title, Hero Wars, has garnered immense popularity across various platforms, including mobile, social, and web-based environments.
Operating through its core subsidiary, Nexters Global Ltd., GDEV focuses on creating immersive online gaming experiences. The company's geographical footprint extends to Europe, Asia, the United States, and beyond, making it a truly global player in the industry.
In recent developments, GDEV has shown resilience and adaptability. Notably, the company saw a 23% decrease in platform commissions in the third quarter of 2023 compared to the same period in 2022, primarily due to an 8% decline in revenue. Despite these challenges, the share of PC versions of their games increased by 1 percentage point in the first nine months of 2023.
The company recently completed a significant tender offer, acquiring 16,554,256 shares at $2.00 per share, amounting to approximately $33.1 million. This repurchase represents about 8.4% of the total issued ordinary shares, aiming to enhance trading liquidity by reintroducing these shares into the market.
GDEV is also making strides in the PC gaming sector. The launch of their first game on Steam has been met with enthusiastic response, underscoring the company's potential in the PC/Console market. For example, Pixel Gun 3D has transitioned from mobile to PC, and initial feedback has been overwhelmingly positive.
With a commitment to creativity and innovation, GDEV continues to expand its portfolio. Their franchises, including Hero Wars, Island Hoppers, Pixel Gun 3D, and Throne Rush, have collectively achieved hundreds of millions of installs worldwide. The company’s strategic partnerships and continuous product optimization underscore its position as a dominant force in the gaming industry.
GDEV Inc. (Nasdaq: GDEV) has issued a clarification regarding its previously announced special cash dividend of $3.31 per share. The dividend is payable on March 11, 2025, to shareholders of record as of March 3, 2025, with an ex-dividend date of March 12, 2025.
According to Nasdaq Rule 11140(b)(2), when a cash dividend's value exceeds 25% of the security's value, the ex-dividend date is set for the first business day after the payable date. Based on GDEV's closing bid price of $12.82 on February 20, 2025, Nasdaq will reset the opening trading price on March 12 to reflect the dividend payment.
Investors should note that the trading price is expected to be lower on the ex-dividend date compared to March 11, reflecting the dividend amount. Purchasers of GDEV shares on or after the ex-dividend date will not receive this special dividend.
GDEV is a gaming and entertainment holding company whose franchises, including Hero Wars and Pixel Gun 3D, have accumulated over 550 million installs and $2.5 billion in bookings worldwide.
GDEV Inc. (Nasdaq: GDEV) has announced a one-time special cash dividend of $3.31 per share, representing approximately 20% yield based on the 30-day volume-weighted average price. The dividend, totaling $60 million, will be paid on March 11, 2025, to shareholders of record as of March 3, 2025.
The distribution will be funded from accumulated profits and represents a portion of GDEV's total cash balance of approximately $153 million (as of Q3 2024). The company will remain debt-free after the distribution and maintains a substantial cash balance for future growth initiatives.
This is GDEV's first dividend since its public listing, and the company does not anticipate declaring further dividends in the foreseeable future. The decision aims to optimize capital structure and reduce excess liquidity while maintaining financial stability.
GDEV Inc. (NASDAQ: GDEV) announced a significant leadership change with founder and CEO Andrey Fadeev being appointed as Chairperson of the Board, effective immediately. This strategic move aims to strengthen alignment between strategic oversight and operational execution.
Current Independent Chairperson Natasha Braginsky Mounier will step down and depart from the Board, receiving a severance payment for her services. The Board will maintain its independent majority with three out of five directors serving as independent members. Board committee reassignments include Tal Shoham joining the Audit Committee and Marie Holive joining the Nomination and Compensation Committee.
The company emphasizes this transition as part of its strategy to accelerate decision-making and capitalize on market opportunities while maintaining strong corporate governance standards.
GDEV reported Q3 2024 financial results with revenue of $111 million, showing 5% quarter-over-quarter growth but a 9% year-over-year decline. The company recorded profit of $15 million, down from $24 million in Q3 2023, primarily due to increased marketing expenses. Key metrics include Adjusted EBITDA of $16 million and cash position of $153 million. European bookings share increased by 4 percentage points to 30%. The company established an at-the-market offering for up to 1,757,026 ordinary shares and appointed Olga Loskutova as new Chief Operating Officer.
GDEV (NASDAQ: GDEV) has scheduled the release of its third quarter 2024 financial results on November 14, 2024, at 8:00 a.m. Eastern Time. The company will host a conference call and webcast to discuss the results at 9:00 a.m. ET on the same day. GDEV is a gaming and entertainment holding company whose franchises, including Hero Wars, Island Hoppers, and Pixel Gun 3D, have accumulated over 550 million installs and $2.5 billion in bookings worldwide.
GDEV Inc. (NASDAQ: GDEV) announces key leadership changes as part of its strategic reorganization. Olga Loskutova, who has served as an Independent Director since 2022, will transition from the Board to become the company's new Chief Operating Officer (COO). Following this change, GDEV's Board will consist of six members with four independent directors. Anton Reinhold, the former COO, will focus exclusively on his role as CEO of Nexters Global , GDEV's flagship game studio, to expand the Hero Wars franchise and develop new products.
GDEV Inc. (NASDAQ: GDEV) has released its 2023 Sustainability Report, showcasing the company's commitment to environmental stewardship, corporate social responsibility, and robust governance. The report highlights GDEV's Games for Good Philosophy and policies supporting local communities.
CEO Andrey Fadeev emphasized how GDEV's games contribute to positive outcomes, from promoting eco-friendly practices to raising awareness on social issues. Board Chairperson Natasha Braginsky Mounier highlighted the company's belief in sustainable business practices and ongoing innovative initiatives.
GDEV, a gaming and entertainment holding company, focuses on developing franchises across various genres and platforms. Its portfolio, including Hero Wars and Pixel Gun 3D, has accumulated over 550 million installs and $2.5 billion in bookings worldwide.
GDEV Inc. (Nasdaq: GDEV), an international gaming and entertainment company, has announced an at-the-market (ATM) offering. The company has entered into a Sales Agreement with Cantor Fitzgerald & Co. and Oppenheimer & Co. Inc. to sell up to 1,757,026 ordinary shares held in treasury. These shares were previously acquired through a tender offer that expired in January 2024.
The ATM offering aims to increase trading liquidity by expanding the company's public float. GDEV plans to use the net proceeds for general corporate purposes, including working capital. The shares will be sold through various methods, including direct sales on NASDAQ and negotiated transactions at prevailing market prices.
GDEV (NASDAQ: GDEV) reported its unaudited financial results for Q2 and H1 2024. Despite a decrease in revenue, the company showed resilience with a strategic focus on PC and mobile platforms. Key highlights include:
- Revenue: $106M in Q2 2024, down 8% YoY; $213M in H1 2024, down 9% YoY.
- Bookings: $108M in Q2 2024, down 3% YoY; $216M in H1 2024, up 1% YoY.
- Net Profit: $15M in Q2 2024, down from $20M YoY.
- Adjusted EBITDA: $16M in Q2 2024, a slight increase YoY.
- Operating Cash Flow: $11M in Q2 2024, stable YoY; $12M in H1 2024, up from negative $0.1M YoY.
Key operational highlights include reduced platform commissions and game operation costs, as well as a strategic shift in user acquisition leading to lower selling and marketing expenses. Notable product updates include successful launches and collaborations within their franchises.
GDEV Inc. (NASDAQ: GDEV), an international gaming company, will release its Q2 2024 financial results on September 4, 2024 at 8:00 a.m. ET. The company will host a conference call and webcast to discuss the results at 9:00 a.m. ET the same day. Interested parties can access the audio webcast or participate in the conference call using provided dial-in details. GDEV is a hub of gaming studios focused on developing and growing its franchise portfolio across various genres and platforms. Its subsidiaries include Nexters and Cubic Games, with franchises like Hero Wars, Island Hoppers, and Pixel Gun 3D accumulating hundreds of millions of installs worldwide.
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