GDEV's Pixel Gun 3D Makes a Stellar Debut on Steam's Top 20 Best Selling List

Rhea-AI Summary

GDEV Inc. announces the successful launch of Pixel Gun 3D on PC platform, achieving significant milestones such as entering the Top 20 most sold and Top 50 most played games on Steam. The game recouped its development costs on the first day, making 5 times the average daily in-app purchases of the mobile version, without heavy marketing investments.

Insights

Market Research Analyst

The expansion of GDEV Inc.'s Pixel Gun 3D from mobile to the PC platform represents a strategic move to capture a broader audience in the gaming market. The immediate financial return, as indicated by the recoupment of development costs, suggests that the company's foray into the PC market could be a significant revenue driver. The lack of significant marketing investment implies a strong existing brand presence, which can be a critical factor in the organic growth and sustainability of the product's success. The reported figures of peak concurrent users and sales rankings signal a positive market reception, which may contribute to investor confidence in the company's ability to diversify its offerings and tap into new revenue streams.

Gaming Industry Analyst

The performance metrics of Pixel Gun 3D's PC launch, such as the top 20 sales rank and the peak concurrent user count, are indicative of the title's competitive positioning within the PC gaming landscape. The integration of cross-platform multiplayer functionality is a notable feature that enhances the value proposition to the gaming community by fostering a unified player base. This technical achievement not only improves user experience but also has the potential to increase player retention rates across platforms. The ability to achieve such success without significant marketing expenditures reflects an effective utilization of the brand's established reputation, which may reduce customer acquisition costs and improve profit margins in the long term.

Financial Analyst

From a financial perspective, the immediate recoupment of development costs for the PC version of Pixel Gun 3D is a testament to efficient capital allocation and project execution by GDEV Inc. The quintupling of the average daily in-app purchases compared to the mobile version suggests a higher monetization potential on the PC platform. This could lead to an upward revision of revenue projections and potentially impact the company's stock valuation positively. The CEO's projection of the title's long-term success on PC/Console markets indicates a strategic vision that aligns with the ongoing trends of cross-platform gaming experiences. However, the unexpected server capacity issue highlighted by the Studio Director raises concerns about operational scalability, which the company must address to sustain growth and maintain player satisfaction.

LIMASSOL, Cyprus, April 09, 2024 (GLOBE NEWSWIRE) -- GDEV Inc. (NASDAQ: GDEV), an international gaming and entertainment company (“GDEV” or the “Company”), announces the successful launch of the iconic mobile title Pixel Gun 3D on PC platform.

• The game was launched on Steam April 2, entering on debut the Top 20 most sold and Top 50 most played games.
• The peak concurrent Steam users count reached 25,000 players on the first day of release.
• The Steam version of Pixel Gun 3D recouped its PC platform development costs within the first day of release, making 5 times the average daily in-app purchases of the mobile version.
• The results were achieved without significant marketing investments, capitalizing on strong brand awareness across the globe.
• The PC version of Pixel Gun 3D offers enhanced graphics, as well as full cross-platform multiplayer functionality with mobile.
  

GDEV CEO, Andrey Fadeev stated:
“The first GDEV game launched on Steam, the largest PC platform, is already a success! The mobile version of this iconic title has already accumulated over $200 million in cumulative all-time bookings, and while the PC version is just beginning its journey, we believe it has immense potential to maintain top positions on PC/Console market in the long term!”

Studio Director, Dmitry Amroyan noted:
“Believe it or not, the immense success of our game caught us completely off guard. Our servers were not prepared to handle such a massive influx of both longtime fans and newcomers. We are currently working tirelessly to improve our infrastructure so that everyone can fully enjoy the amazing gameplay of PG3D!”

For more information about Pixel Gun 3D and to join the growing community of eager fans, please visit https://pixelgun3d.com/. You may install the game from Steam via this link. The YouTube video regarding the launch of the Pixel Gun 3D PC edition is available here.

About GDEV

GDEV is a hub of gaming studios, focused on development and growth of its franchise portfolio across various genres and platforms. With a diverse range of subsidiaries including Nexters and Cubic Games among others, GDEV strives to create games that will inspire and engage millions of players for years to come. Its franchises, such as Hero Wars, Island Hoppers, Pixel Gun 3D and others have accumulated hundreds of millions of installs worldwide. For more information, please visit gdev.inc

Contacts:
Investor Relations
Roman Safiyulin | Chief Corporate Development Officer
investor@gdev.inc

Cautionary statement regarding forward-looking statements

Certain statements in this press release may constitute “forward-looking statements” for purposes of the federal securities laws. Such statements are based on current expectations that are subject to risks and uncertainties. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements.

The forward-looking statements contained in this press release are based on the Company’s current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting the Company will be those that the Company has anticipated. Forward-looking statements involve a number of risks, uncertainties (some of which are beyond the Company’s control) or other assumptions. You should carefully consider the risks and uncertainties described in the “Risk Factors” section of the Company’s 2022 Annual Report on Form 20-F, filed by the Company on June 26, 2023, and other documents filed by the Company from time to time with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should any of the Company’s assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

A video accompanying this announcement is available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/0000eaac-97f5-43f8-8b9c-38accce9f8cd

FAQ

What is the latest successful launch by GDEV Inc.?

GDEV Inc. successfully launched the iconic mobile title Pixel Gun 3D on the PC platform.

When was Pixel Gun 3D launched on Steam?

Pixel Gun 3D was launched on Steam on April 2.

How did Pixel Gun 3D perform on its debut on Steam?

Pixel Gun 3D entered the Top 20 most sold and Top 50 most played games on its debut on Steam.

What was the peak concurrent Steam users count for Pixel Gun 3D on the first day of release?

The peak concurrent Steam users count reached 25,000 players on the first day of release.

How did the PC version of Pixel Gun 3D fare financially compared to the mobile version?

The PC version recouped its development costs on the first day, making 5 times the average daily in-app purchases of the mobile version.