Gdev Inc. · NASDAQ:GDEV
Gdev — Q2 2023 Earnings Presentation
11 slides from Gdev's earnings presentation, Aug 28, 2023
Slide 1: Q2’23 Financial Results
Q2’23 Financial Results GDEV Inc. 28 August 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: Q2’23 Summary
Q2’23 Summary Product update Financial and operating results Soft rebranding for mobile and PC versions to differentiate them and create a distinct identity Revenue Bookings External web shop launch for mobile players to provide an alternative monetization method $127m $112m $111m $115m Q2’23 bookin
Slide 5: Key financial highlights (1/2)
Key financial highlights (1/2) $m $m $m In the second quarter of 2023 our Revenue Total comprehensive Income/ Loss Adjusted EBITDA revenue decreased by $12 million 127 33 37 (or 9%) YoY and amounted to $115 115 million, driven primarily by a decrease of $11 million in change of 21 deferred revenues
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 Q2’23 increased by $16 million and amounted to $51 million. The +46% +7% +8% growth was mainly due to 51 7 7 99 substantially increased 91 investm
Slide 7: Key operating highlights
Key operating highlights $m ‘000 users $/month Bookings Monthly Paying Users (1) Average Bookings Per Paying User (2) Bookings remained relatively stable in Q2’23, decreasing slightly by $1 -1% million in the second quarter of +14% -17% 2023 compared to the second 112 111 392 104 quarter of 2022. 34
Slide 8: Balance Sheet
Balance Sheet ($ in thousands) Assets Dec 31, 2022 Jun 30, 2023 Non-current assets Property and equipment 786 863 Intangible assets 12,977 10,763 Goodwill 1,836 1,836 Long-term deferred platform commission fees 94,682 83,197 Right-of-use assets 1,462 1,489 Deferred tax asset 108 59 Other non-current
Slide 9: Profit and Loss Statement
Profit and Loss Statement ($ in thousands) Q2 2023 Q2 2022 H1 2023 H1 2022 Revenue 114,864 126,709 234,139 252,780 Costs and expenses, excluding depreciation and amortization Cost of revenue: Platform commissions (27,473) (35,388) (56,428) (68,839) Game operation cost (13,218) (11,230) (26,785) (20,
Slide 10: Cash Flow Statement
Cash Flow Statement ($ in thousands) Q2 2023 Q2 2022 H1 2023 H1 2022 Operating activities Profit/(loss) for the period, net of tax 19,519 29,327 11,343 52,738 Adjustments for: Depreciation and amortization 1,496 2,150 2,903 3,617 Share-based payments expense 496 964 1,044 2,029 Income from share opt
Slide 11: Reconciliation of the net income/(loss) to the Adjusted EBITDA
Reconciliation of the net income/(loss) to the Adjusted EBITDA (US$ million) Q2 2023 Q2 2022 H1 2023 H1 2022 Total comprehensive income/(loss) for the year, net of tax 21 33 12 56 Add back: Items that are or may be reclassified subsequently to profit or loss (1) (3) (1) (3) Tax expense 0.3 1 1 2 Fin