Business
GDEV announces preliminary, unaudited results for the fourth quarter and twelve months of 2025
LIMASSOL, Cyprus, March 05, 2026 (GLOBE NEWSWIRE) -- GDEV Inc. (NASDAQ: GDEV), an international gaming and entertainment company (“GDEV” or the “Company”)
About this update from Gdev Inc.
LIMASSOL, Cyprus, March 05, 2026 (GLOBE NEWSWIRE) -- GDEV Inc. (NASDAQ: GDEV), an international gaming and entertainment company (“GDEV” or the “Company”) released its preliminary, unaudited financial and operational results for the fourth quarter and twelve months ended December 31, 2025. Fourth quarter 2025 financial highlights: Revenue of $90 million decreased by 8% year-over-year.Selling and marketing expenses of $35 million decreased by 25% year-over-year.Profit for the period, net of tax, of $14 million in Q4 2025 increased vs. $2 million in Q4 2024.Adjusted EBITDA1 of $15 million in Q4 2025 increased vs. $9 million in Q4 2024. Fourth quarter and twelve months 2025 financial performance in comparison US$ millionQ4 2025Q4 2024Change (%)12M 202512M 2024Change (%)Revenue9098(8%)404421(4%)Platform commissions(18)(21)(13%)(85)(91)(7%)Game operation cost(15)(13)13%(57)(51)12%Selling and marketing expenses(35)(47)(25%)(159)(209)(24%)General and administrative expenses(9)(8)14%(35)(32)10%Profit/loss for the period, net of tax142N/M6926N/MAdjusted EBITDA215966%794287%Cash flows (used in)/generated from operating activities185N/M29293% Fourth quarter 2025 financial performance In the fourth quarter of 2025 our revenue decreased by $8 million (or 8%) year-over-year and amounted to $90 million, reflecting a decline in recognition of revenue from both current-period and prior-period bookings. This was mainly due to declining consumer spending levels in the current and preceding years, which reduced the amount of revenue recognized during the quarter. The decrease is consistent with our strategy to pursue more disciplined marketing spending and focus on attracting higher-quality, better-paying users rather than maximizing short-term volume. Platform commissions decreased by $3 million (or 13%) in the fourth quarter of 2025 to reach $18 million, generally proportionate to the decrease in revenues. Game operation cost increased by $2 million in the fourth quarter of 2025 and amounted to $15 million, mainly driven by an increase in investments in our IT infrastructure. Selling and marketing expenses decreased by $12 million in the fourth quarter of 2025, amounting to $35 million. This decrease was driven by our continued focus on improving the efficiency of user acquisition activities. The decrease reflects a more selective approach to performance marketing, priorit...