Gdev Inc. · NASDAQ:GDEV
Gdev — Q3 2022 Earnings Presentation
13 slides from Gdev's earnings presentation, Dec 6, 2022
Slide 1: Q3 2022 Financial Results
Q3 2022 Financial Results Nexters Global 6 December 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: 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: Key Highlights
Key Highlights
Slide 5: Key financial highlights (1/2)
Key financial highlights (1/2) $m $m $m Revenue Net Income/ Loss Adjusted EBITDA Revenue increased by 21% YoY in 9M 2022 and by 8% YoY in Q3 2022 +8% driven primarily by a decrease in 125 >100% change of deferred revenues and 115 55 partially offset by a decrease in bookings Net income amounted to $
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 decreased by 49% YoY in 9M 2022 and by 68% in Q3 2022 mainly due -66% to the massive scaling of UA -68% 226 investments into new players both 64 in 9
Slide 7: Key operating highlights
Key operating highlights ‘000 users $/month $m Monthly Paying Users (1) Average Bookings Per Paying User (2) Bookings 2021 was characterized by a relatively high UA investment, which led to high growth in MPUs. -18% -15% The decrease in UA investments for 371 128 -31% the majority of 2022 resulted i
Slide 8: Platform and geographic split
Platform and geographic split Split by Platform (1) Split by Geography (1) The share of desktop versions of our games increased by 4 p.p. in Mobile Desktop US Europe Asia Other (2) 9M 2022 enabling us to access a wider audience and expanding our addressable market 20% Split of bookings by geography
Slide 9: Appendix
Appendix
Slide 10: Balance Sheet
Balance Sheet ($ in thousands) Assets Sep 30, 2022 Dec 31, 2021 Non-current assets Property and equipment 680 1,352 Intangible assets 14,297 266 Investments in equity accounted associates 17,719 — Goodwill 49,241 1,501 Long-term deferred platform commission fees 96,421 116,533 Right-of-use assets 1,
Slide 11: Profit and Loss Statement
Profit and Loss Statement ($ in thousands) 9M 2022 9M 2021 Q3 2022 Q3 2021 Revenue 376,638 311,510 124,801 115,177 Costs and expenses, excluding depreciation and amortization Cost of revenue: Platform commissions (102,710) (84,707) (33,871) (30,717) Game operation cost (14,481) (5,540) (7,884) (1,74
Slide 12: Cash Flow Statement
Cash Flow Statement ($ in thousands) 9M 2022 9M 2021 Q3 2022 Q3 2021 Operating activities Profit/(loss) for the period, net of tax 84,370 (135,495) 31,632 (103,701) Adjustments for: - Depreciation and amortization 5,359 1,713 1,742 645 Share-based payments expense 3,007 126,349 978 125,644 Share of
Slide 13: Reconciliation of the net income/loss to the Adjusted EBITDA
Reconciliation of the net income/loss to the Adjusted EBITDA (US$ million) Q3 2022 Q3 2021 9M 2022 9M 2021 Net income/(loss) 31 (104) 87 (136) Add back: Other comprehensive (income)/loss 0.9 0.1 (2) 0.4 Loss on sale of discontinued operations 5 — 5 — Loss for the period from discontinued operations