Gdev Inc. · NASDAQ:GDEV
Gdev — Q3 2023 Earnings Presentation
11 slides from Gdev's earnings presentation, Nov 21, 2023
Slide 1: Q3'23 Financial Results
Q3’23 Financial Results GDEV Inc. 21 November 2023 1
Slide 2: Disclaimer
Disclaimer Forward-looking statements Certain statements in this presentation 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
Slide 3: Key operating metrics used in the presentation
Key operating metrics used in the presentation In this presentation, we use a number of key operating and non-IFRS financial metrics which we believe accurately, in material aspects, reflect the principal parameters of our historic and projected performance. For further information, regarding our op
Slide 4: Q3'23 Summary
Q3’23 Summary Product update Financial highlights Our flagship global mid-core franchise celebrates the 7th anniversary of its mobile version (Hero Wars: Alliance) and the Selling & marketing Revenue 5th anniversary of its PC version (Hero Wars: Dominion Era). expenses Since their respective launche
Slide 5: Key financial highlights (1/2)
Key financial highlights (1/2) $m $m $m $m Revenue Profit for the period, Total comprehensive Adjusted EBITDA In the third quarter of 2023, our net of tax Income/ Loss revenue decreased by $7 million (or 5%) YoY and amounted to $121 million, driven primarily by a -5% -25% -22% -35% decrease of $6 mi
Slide 6: Key financial highlights (2/2)
Key financial highlights (2/2) $m $m $m Selling and Marketing Expenses G&A Expenses Total Costs and Expenses, excl. D&A Selling and marketing expenses in the second quarter of 2023 increased by $22 million, >100% +10% amounting to $43 million. -45% 43 13 91 General and administrative 82 expenses dec
Slide 7: Key operating highlights
Key operating highlights $m ‘000 users $/month Bookings Monthly Paying Users (1) Average Bookings Per Paying User (2) Bookings of $102 million declined by 6% YoY +23% Increase in MPU by 23% and 13% in -6% -26% the third quarter and first nine 108 375 113 months of 2023, respectively, which 102 in tu
Slide 8: Balance Sheet
Balance Sheet ($ in thousands) Assets Dec 31, 2022 Sep 30, 2023 Non-current assets Property and equipment 786 943 Intangible assets 12,977 9,611 Goodwill 1,836 1,836 Long-term deferred platform commission fees 94,682 76,872 Right-of-use assets 1,462 3,214 Deferred tax asset 108 103 Other non-current
Slide 9: Profit and Loss Statement
Profit and Loss Statement ($ in thousands) Q3 2023 Q3 2022 9M 2023 9M 2022 Revenue 121,295 128,015 355,434 380,795 Costs and expenses, excluding depreciation and amortization Cost of revenue: Platform commissions (27,721) (35,830) (84,149) (104,669) Game operation cost (12,199) (10,273) (38,984) (30
Slide 10: Cash Flow Statement
Cash Flow Statement ($ in thousands) Q3 2023 Q3 2022 9M 2023 9M 2022 Operating activities Profit/(loss) for the period, net of tax 23,683 31,632 35,026 84,370 Adjustments for: Depreciation and amortization 1,749 1,742 4,652 5,359 Share-based payments expense 678 978 1,722 3,007 Income from share opt
Slide 11: Reconciliation of the profit for the period to the Adjusted EBITDA
Reconciliation of the profit for the period to the Adjusted EBITDA (US$ million) Q3 2023 Q3 2022 9M 2023 9M 2022 Profit for the period, net of tax 24 32 35 84 Adjust for: Income tax expense 2 2 3 4 Finance income (0.8) (0.5) (4) (0.9) Financial assets at FVTPL - net change in fair value 2 0 2 0 Inte