Gdev Inc. · NASDAQ:GDEV
Gdev — FY2022 Earnings Presentation
14 slides from Gdev's earnings presentation, Jun 26, 2023
Slide 1: 2022 Financial Results
2022 Financial Results GDEV Inc. 26 June 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: Key Highlights
Key Highlights
Slide 5: 2022 Summary
2022 Summary Record high 2022 performance Record high 2022 performance GDEV adapted to new global and market reality, proving its resiliency EU top-5 848 $480m +11% $11m >100% +3% ind. mobile game 48mln Total developer1 headcount Revenue Total comprehensive Downloads Closed all Russian subsidiaries
Slide 6: Key franchise performance
Key franchise performance Studio Studio Blockbuster mid-core Farming game with Mobile first-person shooter multi-platform RPG puzzles 2016 >150 mln 2021 >8mln May 2013 >180mln Launched Cumulative installs Launched Cumulative installs launched Cumulative installs Mobile/PC Target audience: Key market
Slide 7: Key financial highlights (1/2)
Key financial highlights (1/2) $m $m $m In 2022 our revenue increased by Revenue Total comprehensive Income/ Loss Adjusted EBITDA $46 million (or 11%) year-over-year -19% and amounted to $480 million, 123 driven primarily by a decrease of 99 $158 million in change of deferred revenues during 2022 vs
Slide 8: 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 2022 decreased by $117 million and amounted to $153 million. The -21% -14% +75% decrease was mainly due to the 51 9 173 massive scaling of the inv
Slide 9: Key operating highlights
Key operating highlights $m ‘000 users $/month Bookings Monthly Paying Users (1) Average Bookings Per Paying User (2) The decrease in bookings is primarily driven by significantly reduced marketing investments in -29% -13% -18% the second and the third quarters 144 363 125 of 2022 while scaling of i
Slide 10: Appendix
Appendix
Slide 11: Balance Sheet
Balance Sheet ($ in thousands) Assets Dec 31, 2022 Dec 31, 2021 Non-current assets Property and equipment 786 1,352 Intangible assets 12,977 266 Goodwill 1,836 1,501 Long-term deferred platform commission fees 94,682 116,533 Right-of-use assets 1,462 2,050 Deferred tax asset 108 25 Other non-current
Slide 12: Profit and Loss Statement
Profit and Loss Statement ($ in thousands) 4Q 2022 4Q 2021 FY 2022 FY 2021 Revenue 98,893 122,584 479,688 434,094 Costs and expenses, excluding depreciation and amortization Cost of revenue: Platform commissions (24,954) (32,522) (129,623) (117,229) Game operation cost (13,223) (5,948) (44,036) (18,
Slide 13: Cash Flow Statement
Cash Flow Statement ($ in thousands) FY 2022 FY 2021 Q4 2022 Q4 2021 Operating activities Profit/(loss) for the period, net of tax 7,410 (117,444) (76,959) 18,055 Adjustments for: Depreciation and amortization 6,901 2,540 1,542 827 Share-based payments expense 3,751 129,199 744 2,850 Goodwill and in
Slide 14: Reconciliation of the net income/loss to the Adjusted EBITDA
Reconciliation of the net income/loss to the Adjusted EBITDA (US$ million) Q4 2022 Q4 2021 FY 2022 FY 2021 Total comprehensive income/(loss) for the year, net of tax (76) 18 11 (117) Add back: Other comprehensive (income)/loss (1) (0.4) (3) 0 Goodwill and investment impairment 63 — 63 — Loss on disp