The following is a summary of the GDEV Inc. (GDEV) Q3 2024 Earnings Call Transcript:
Financial Performance:
GDEV Inc. reported Q3 2024 revenue of $111 million, a 5% growth quarter-over-quarter but a 9% decline year-over-year.
Net profit stood at $15 million, a decrease from $24 million in the same period last year, primarily due to lower revenue and higher marketing expenses.
Adjusted EBITDA was $16 million, down $13 million year-over-year.Cash flows from operating activities increased to $12 million from $8 million in Q3 2023.
Business Progress:
Focused on long-term product improvements and player experience enhancements for core games like Hero Wars, Pixel Gun, and Island Hoppers.
Implemented a disciplined approach to investment, particularly in marketing and development.
Geographic expansion focus remains in Europe with successful performance in Germany, France, the UK, and Poland.
Opportunities:
Planning to tap into new geographies like Latin America and Asia for future growth through tailored marketing strategies and product developments.
Exploring M&A opportunities to enter new markets with possibly different content that appeals to local demographics.
Risks:
Under-investment in marketing in 2022 has adversely affected the dynamics of bookings over subsequent quarters.
Decline in bookings due to reduced monetization events and in-game spending, which could impact future revenue if not adequately addressed through new strategies.
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