Business
GDEV announces results for the first quarter of 2026
LIMASSOL, Cyprus, May 19, 2026 (GLOBE NEWSWIRE) -- GDEV Inc. (NASDAQ: GDEV), an international gaming and entertainment company (“GDEV” or the “Company”)
About this update from Gdev Inc.
[{"type":"text","content":"LIMASSOL, Cyprus, May 19, 2026 (GLOBE NEWSWIRE) -- GDEV Inc. (NASDAQ: GDEV), an international gaming and entertainment company (“GDEV” or the “Company”) released its unaudited financial and operational results for the three-month period ended March 31, 2026. First quarter 2026 financial highlights: Revenue of $99 million increased by 2% year-over-year. Selling and marketing expenses of $37 million decreased by 13% year-over-year. Profit for the period, net of tax, of $17 million in Q1 2026 increased vs. $14 million in Q1 2025.Adjusted EBITDA1 of $18 million in Q1 2026 increased vs. $16 million in Q1 2025. First quarter of 2026 financial performance in comparison US$ million Q1 2026 Q1 2025 Change (%) Revenue 99 97 2 %Platform commissions (20) (20) (2)%Game operation cost (14) (14) 1 %Selling and marketing expenses (37) (42) (13)%General and administrative expenses (10) (8) 23 %Profit for the period, net of tax 17 14 22 %Adjusted EBITDA 18 16 15 %Cash flows generated from operating activities 4 6 (27)% First quarter 2026 financial performance In the first quarter of 2026, our revenue increased by $2 million (or 2%) year-over-year and amounted to $99 million. The increase was primarily driven by an increase in in-app purchases made by players. Platform commissions remained stable at $20 million in the first quarter of 2026 vs. 2025. Game operation costs remained stable at $14 million in the first quarter of 2026 vs. 2025. Selling and marketing expenses in the first quarter of 2026 decreased by $5 million vs. the same period in 2025, amounting to $37 million. This decrease is driven by our continued focus on improving the efficiency of user acquisition activities. The decrease reflects a more selective approach to performance marketing, prioritizing channels that attract players with higher long-term value over broad-scale campaigns aimed at short-term growth. General and administrative expenses increased by $2 million in the first quarter of 2026 vs. the same period of prior year and amounted to $10 million primarily due to increase in legal expenses. As a result of the factors above, together with the effect of the net foreign exchange loss in the first quarter of 2026 in the amount of $1 million vs. the net foreign exchange gain in the amount of $1 million in the same period of prior year, we recorded a profit for the period, ne...