Press release
Nexters Continues to Demonstrate Substantial Growth in Q3 2021
LIMASSOL, Cyprus, Nov. 17, 2021 (GLOBE NEWSWIRE) -- Nexters Inc. (NASDAQ: GDEV), an international game development company which strives to introduce the joy
About this update from Gdev Inc.
[{"type":"text","content":"LIMASSOL, Cyprus, Nov. 17, 2021 (GLOBE NEWSWIRE) -- Nexters Inc. (NASDAQ: GDEV), an international game development company which strives to introduce the joy of core gaming experiences to casual players, today announced its unaudited financial and operational results for the third quarter of 2021. Third Quarter 2021 HighlightsFinancial: Record high quarterly revenues of $115 million, growing 77% year-over-yearNon-cash non-recurring listing expense of $125 million caused net loss in the third quarter of 2021 which amounted to $104 million vs. $11 million in the respective period of 2020Adjusted Net Profit in the amount of $8 million in Q3 2021 vs. an Adjusted Net Loss of $11 million in the respective period of 2020Сash flow generated from operating activities of $51 million, growing 59% year-over-yearOur cash and cash equivalents totaled $105 million as of September 30, 2021 Operational: Q3 2021 bookings of $151 million, growing 29% year-over-yearBookings from Asia nearly doubled year-over-year, now constituting 26% of total bookingsBookings from Desktop platforms grew 55% year-over-year, now constituting 30% of total bookings, taking platform commissions down to 27% of revenues in Q3 2021, declining 1 p.p. year-over-yearMonthly paying users of 371 thousand in Q3 2021, growing 30% year-over-yearAverage Bookings per Paying User of $128, broadly stable compared to $132 in Q3 2020Advertisement sales of $9 million, more than doubling year-over-year, now constituting 6% of total bookings Products & M&A: Chibi Island, a new casual adventure game officially released on iOS and Android with total install base approaching 1.5 million.Throne Rush, a strategy game, launched on WebHero Wars mobile version recently celebrated its 5th anniversary, with the title’s lifetime bookings surpassing a milestone of $1 billionNexters launched Boost program as one of the M&A initiatives to provide independent developers with expertise and funds needed to launch their games and build successful international businesses. Quote by CEO and Co-founder, Andrey Fadeev: “The third quarter has been quite significant for Nexters as within this period we reached two milestones which will influence our further long-term development and growth. In accordance with our organic growth strategy, we see casual games as an opportunity to significantly expand into a larger...