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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 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.
GDEV Inc. (NASDAQ: GDEV) has announced a one-for-ten (1:10) reverse share split of its ordinary shares, effective August 28, 2024. Trading on a split-adjusted basis will begin on August 29, 2024, under the existing symbol "GDEV" but with a new CUSIP number. The company aims to improve marketability and liquidity of its shares through this move.
Key points:
- No fractional shares will be issued; cash will be paid for fractions
- The split affects all shareholders uniformly
- Voting rights and preferences remain unchanged
- ESOP, warrants, and options will be proportionally adjusted
- No shareholder approval is required for this action
GDEV (NASDAQ: GDEV), an international gaming and entertainment company, announced its preliminary unaudited financial and operational results for Q1 2024. Revenue declined by 10% year-over-year to $107 million, while bookings increased by 4% to $109 million. The company reported a net loss of $1 million, a significant improvement from the $8 million loss in Q1 2023. Adjusted EBITDA was negative $3 million, showing a marked improvement from negative $12 million in the previous year. Cost reductions included a 19% decrease in platform commissions and a 19% decrease in selling and marketing expenses. Cash flow from operating activities turned positive at $0.4 million, compared to a negative $12 million in Q1 2023. GDEV plans to reinvest in user acquisition to drive growth and intends to reintroduce shares from a recent tender offer to enhance trading liquidity and public float.
GDEV, an international gaming and entertainment company, is set to announce its financial results for the first quarter of 2024 on May 28, 2024, at 4:00 p.m. ET.
The results will cover the period ending March 31, 2024. Investors and stakeholders can access the press release and supplementary slides on the company's website, gdev.inc. An audio webcast will also be available for further insights.
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