Gdev Inc. · NASDAQ:GDEV
Gdev — Nexters Global — Q2 2022 Earnings Presentation
14 slides from Gdev's earnings presentation, Sep 28, 2022
Slide 1: Q2 2022 Financial Results
Q2 2022 Financial Results Nexters Global 28 September 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: Corporate updates
Corporate updates On June 29, 2022 Nexters announced changes to its headcount which impacted 235 employees located in Russia, Cyprus and other countries The Board of Directors resolved on July 11, 2022 to intensify the Company’s relocation program to Cyprus, Armenia, and certain other “safe-harbor”
Slide 6: Key financial highlights (1/2)
Key financial highlights (1/2) $m $m $m Revenue Net Income/ Loss Adjusted EBITDA Revenue increased by 28% YoY in H1 2022 and by 15% YoY in Q2 2022 +15% driven primarily by a decrease in 126 change of deferred revenues 110 during the respective periods vs the same periods in the prior year 46 and par
Slide 7: 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 41% YoY in H1 2022 and by 61% in Q2 2022 mainly due -35% to the massive scaling of UA -61% 125 investments into new players both 91 in H
Slide 8: Key operating highlights
Key operating highlights ‘000 users $/month $m Monthly Paying Users (1) Average Bookings Per Paying User (2) Bookings H1 2021 and Q2 2021 were characterized by a record high UA investment, which led to high growth in MPUs. The decrease in -13% -17% UA investments in Q2 2022 resulted 395 125 -28% 154
Slide 9: Platform and geographic split
Platform and geographic split Split by Platform (1) Split by Geography (1) The share of desktop versions of our games increased by 3 p.p. in H1 Mobile Desktop US Europe Asia Other (2) 2022 enabling us to access a wider audience and expanding our addressable market 19% Split of bookings by geography
Slide 10: Appendix
Appendix
Slide 11: Balance Sheet
Balance Sheet ($ in thousands) Assets Jun 30, 2022 Dec 31, 2021 Non-current assets Property and equipment 627 1,352 Intangible assets 15,553 266 Investments in equity accounted associates 22,051 — Goodwill 48,900 1,501 Long-term deferred platform commission fees 105,440 116,533 Right-of-use assets 1
Slide 12: Profit and Loss Statement
Profit and Loss Statement ($ in thousands) H1 2022 H1 2021 Q2 2022 Q2 2021 Revenue 251,837 196,333 125,766 109,644 Costs and expenses, excluding depreciation and amortization Cost of revenue: Platform commissions (68,839) (53,990) (35,388) (29,510) Game operation cost (6,597) (3,795) (3,310) (1,566)
Slide 13: Cash Flow Statement
Cash Flow Statement ($ in thousands) H1 2022 H1 2021 Q2 2022 Q2 2021 Operating activities Profit/(loss) for the period, net of tax 52,738 (31,798) 29,327 (20,010) Adjustments for: Depreciation and amortization 3,617 1,068 2,150 609 Share-based payments expense 2,029 705 964 315 Share of loss of equi
Slide 14: Reconciliation of the net income/loss to the Adjusted EBITDA
Reconciliation of the net income/loss to the Adjusted EBITDA Q2 2022 Q2 2021 H1 2022 H1 2021 $m Net income/ (loss) 33 (20) 56 (32) Add back: Other comprehensive (income)/loss (3) 0.2 (3) 0.3 Loss for the period from discontinued operations 12 5 20 8 Tax expense 1 0.3 2 0.5 Finance (income)/expense,