Gdev Inc. · NASDAQ:GDEV
Gdev — Nexters Global — Q4 2021 Earnings Presentation
18 slides from Gdev's earnings presentation, Mar 30, 2022
Slide 1: Q4 2021 Preliminary Financial Results
Q4 2021 Preliminary Financial Results Nexters Global 30 March 2022 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: Update on recent geopolitical developments
Update on recent geopolitical developments • Recently, as a result of the military actions in Ukraine, a number of governments, including those of the United States, United Kingdom and European Union, have imposed unprecedented sanctions on specified persons and entities in Russia. While the situati
Slide 4: Key operating and non-IFRS metrics used in the presentation
Key operating and non-IFRS 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, reg
Slide 5: Key Highlights
Key Highlights
Slide 6: Delivery on expectation and progress on key strategic pillars
Delivery on expectation and progress on key strategic pillars 1st European gaming Delivered on guidance with company on Nasdaq record high annual bookings $562m $449m $555m Bookings Adj. cost and Total costs and expenses expenses, excl. D&A Rapid growth across Four new game releases on platforms and
Slide 7: Actual performance vs guidance in 2021
Actual performance vs guidance in 2021 (A) (B) Actual bookings in 2021 are in line Bookings in 2021 Adjusted costs and expenses in 2021 (1) with previously provided guidance $m $m With reaching bookings guidance, we managed to incur adjusted costs and expenses lower than 570 465 anticipated 562 449
Slide 8: Key financial highlights (1/2)
Key financial highlights (1/2) $m $m Revenue Operating Cash Flow Significant revenue YoY increase both in Q4 2021 and FY 2021 is +66% primary driven by an increase in -13% 434 121 bookings in the amount of $24m 106 and $116m, respectively (or 20% and 26%, respectively) and by a decrease in change of
Slide 9: Key financial highlights (2/2)
Key financial highlights (2/2) $m $m Total Costs and Expenses, Excluding D&A Adjusted Costs and Expenses (1) (2) Key drivers of growth for total costs and expenses (excl. D&A) and for +112% +44% adjusted costs and expenses are 555 449 increased (1) selling and marketing 262 312 investments and (2) G
Slide 10: Key Operating Highlights
Key Operating Highlights ‘000 users $/month $m Monthly paying users (1) Average bookings per paying user (2) Bookings Substantial investments in share of marketing led to significant 3% advertising 5% increase in MPU +28% -9% +20% 363 137 Due to large inflow of new payers, 125 144 ABPPU decreased on
Slide 11: Diversification across key platforms and geographies
Diversification across key platforms and geographies $m $m Bookings by platform (1) Bookings by geography (1) In FY 2021 we have observed Mobile Desktop US Europe Asia FSU Other strong growth in bookings across platforms and geographies, with +20% +20% especially strong performance in 144 YoY 144 Yo
Slide 12: Improving engagement and payer conversion
Improving engagement and payer conversion DAU DAU/MAU Engagement and conversion ‘000 users +21% % metrics gaining some momentum 1,198 21% despite post Covid months 20% 20% 1,024 1,037 975 982 MAU and DAU showed good YoY 889 863 growth in 4Q2021 808 17% 16% 16% 15% 13% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q
Slide 13: Appendix
Appendix
Slide 14: Balance Sheet
Balance Sheet ($ in thousands) Assets FY 2021 FY 2020(1) Non-current assets Property and equipment 1,352 171 Intangible assets 266 76 Goodwill 1,501 — Long-term deferred platform commission fees 116,533 89,587 Right-of-use-assets 2,050 1,044 Deferred tax assets 25 — Other non-current assets 107 — To
Slide 15: Profit and Loss Statement
Profit and Loss Statement ($ in thousands) FY2021 FY 2020(2) Revenue 434,094 260,892 Costs and expenses, excluding depreciation and amortization Cost of revenue: Platform commissions (117,229) (75,163) Game operation cost (18,945) (17,390) Selling and marketing expenses (270,167) (165,756) General a
Slide 16: Cash Flow Statement
Cash Flow Statement ($ in thousands) FY 2021 FY 2020(1) Operating activities Income/(loss) for the year net of tax (124,464) (751) Adjustments for: Depreciation and amortization 2,540 561 Share-based payments expense 129,199 2,276 Gain on acquisition (79) - Expected credit losses 92 - Change in fair
Slide 17: Reconciliation of non-IFRS measures: Adjusted Costs and Expenses
Reconciliation of non-IFRS measures: Adjusted Costs and Expenses FY 2021 FY 2020 Q4 2021 Q4 2020 $m Platform commissions 117 75 33 21 Game operating costs 19 17 6 6 Selling and marketing expenses 270 166 51 39 General and administrative expenses 23 4 9 3 Listing Charge 125 - - - Less share-based com
Slide 18: Reconciliation of non-IFRS measures: Adjusted Net Income/ Loss
Reconciliation of non-IFRS measures: Adjusted Net Income/ Loss FY 2021 FY 2020 Q4 2021 Q4 2020 $m Net Loss (124) (0.7) 11 6 Add back: - Share based compensation expense 4 2 3 2 - Impairment of non-current assets - - - - - Gains and losses arising as result of business combinations(1) 125 - - - - Oth