Tag: GDEV

Release – GDEV acquires Light Hour Games to expand its portfolio in mobile casual games

Posted on by aweinsoff@channelchek.com

Research News and Market Data on GDEV

August 05, 2025 08:00 ET | Source: GDEV Inc.

    LIMASSOL, Cyprus, Aug. 05, 2025 (GLOBE NEWSWIRE) — GDEV Inc. (Nasdaq: GDEV), a global gaming and entertainment company, today announced the acquisition of Light Hour Games, a privately held mobile studio based in Cyprus.

    Light Hour Games is a full-stack studio that builds and markets mobile casual games using AI-first workflows — enabling rapid iteration without compromising high-quality execution. Founded by industry veterans Konstantin Mitrofanov and Ilya Nikitin, the studio operates as a 15-person team with deep expertise across game development, art, and live operations.

    The acquisition represents a strategic partnership that will grant the Light Hour Games studio the opportunity for continued creative freedom and long-term upside through a share in the future success of its games, while securing the necessary funding for its operations through GDEV. As part of GDEV’s ecosystem, Light Hour Games will gain access to GDEV’s knowledge and data platforms.

    “By welcoming Light Hour Games into the GDEV family we secure a talented crew whose lean structure, deep industry experience and advanced AI-driven toolset perfectly complement our growth strategy. Our philosophy has always been about enabling the best creators with the resources and freedom they need to succeed,” said Andrey Fadeev, CEO of GDEV. “With Light Hour Games, we see an opportunity to bring fresh ideas and approaches to a proven genre – and we believe this team has the experience and ambition to build something truly special.”

    Konstantin Mitrofanov, CEO of Light Hour Games, shared: “Partnering with GDEV gives our studio both the financial runway and the strategic reach to realise our ambitions. With GDEV’s support, we can focus on crafting a casual experience that not only engages players from day one, but grows over time into a meaningful part of their everyday lives.”

    About GDEV Inc.

    GDEV is a gaming and entertainment holding company, focused on development and growth of its franchise portfolio across various genres and platforms. With a diverse range of subsidiaries including Nexters and Cubic Games, among others, GDEV strives to create games that will inspire and engage millions of players for years to come. Its franchises, such as Hero Wars, Island Hoppers, Pixel Gun 3D and others have accumulated over 550 million installs and $2.7 billion of bookings worldwide. For more information, please visit www.gdev.inc.

    About Light Hour Games

    Light Hour Games is an AI-first game development studio and a part of GDEV. Based in Cyprus and founded by industry veterans, the company combines deep production expertise with cutting-edge AI workflows to accelerate development and enhance game quality. The studio focuses on creating mobile casual experiences that are emotionally engaging, scalable, and built to evolve with their players over time.

    Contacts:

    Investor Relations
    Roman Safiyulin | Chief Corporate Development Officer
    investor@gdev.inc

    Cautionary statement regarding forward-looking statements

    Certain statements in this press release 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 to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The forward-looking statements contained in this press release are based on the Company’s current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting the Company will be those that the Company has anticipated. Forward-looking statements involve a number of risks, uncertainties (some of which are beyond the Company’s control) or other assumptions. You should carefully consider the risks and uncertainties described in the “Risk Factors” section of the Company’s 2024 Annual Report on Form 20-F, filed by the Company on March 31, 2025, and other documents filed by the Company from time to time with the SEC. Should one or more of these risks or uncertainties materialize, or should any of the Company’s assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

    Release – GDEV Announces Change in Leadership

    Posted on by aweinsoff@channelchek.com

    Research News and Market Data on GDEV

    LIMASSOL, Cyprus, June 23, 2025 – GDEV Inc. (NASDAQ: GDEV), an international gaming and entertainment company (“GDEV” or the “Company”), today announced that Olga Loskutova will depart from her role as Chief Operating Officer effective July 1, 2025.

    Since assuming the COO position in October 2024, Ms. Loskutova has successfully established the planning, reporting and cross-studio coordination frameworks that underpin GDEV’s operating model. 

    “Olga’s operational expertise helped us put the right structure in place at a critical moment,” said Andrey Fadeev, Founder and Chief Executive Officer of GDEV. “We are grateful for her contribution and wish her continued success in her next chapter.”

    ABOUT GDEV

    GDEV is a gaming and entertainment holding company, focused on development and growth of its franchise portfolio across various genres and platforms. With a diverse range of subsidiaries including Nexters and Cubic Games, among others, GDEV strives to create games that will inspire and engage millions of players for years to come. Its franchises, such as Hero Wars, Island Hoppers, Pixel Gun 3D and others have accumulated over 550 million installs and $2.5 billion of bookings worldwide. For more information, please visit www.gdev.inc 

    CONTACTS

    Investor Relations

    Roman Safiyulin | Chief Corporate Development Officer

    investor@gdev.inc

    CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

    Certain statements in this press release 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 to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. 

    The forward-looking statements contained in this press release are based on the Company’s current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting the Company will be those that the Company has anticipated. Forward-looking statements involve a number of risks, uncertainties (some of which are beyond the Company’s control) or other assumptions. You should carefully consider the risks and uncertainties described in the “Risk Factors” section of the Company’s 2024 Annual Report on Form 20-F, filed by the Company on March 31, 2025, and other documents filed by the Company from time to time with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should any of the Company’s assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

    GDEV (GDEV) – Strategic Initiatives Gain Traction

    Posted on by slightbourne@noblecapitalmarkets.com


    Thursday, June 12, 2025

    Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

    Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

    Refer to the full report for the price target, fundamental analysis, and rating.

    Solid Q1 Results. The company reported Q1 revenue of $97.0 million and adj. EBITDA of $15.6 million, both of which easily surpassed our estimates of $87.0 million and a loss of $0.6 million, respectively. Notably, while revenue decreased 9% from last year, adj. EBITDA was up substantially from a loss of roughly $1.0 million. The improvement in adj. EBITDA was largely driven by the company’s efficient use of marketing spend and focus on profitability.

    Key operating metrics. Bookings and monthly paying users decreased by 25% and 26%, respectively, compared to the prior year period, but the decrease was expected as the company is focused on improving the quality of gameplay and not over-monetizing its user base. For example, average bookings per paying user (ABPPU) increased from $88 in Q1’24 to $90 in Q1’25, despite a decrease in monthly paying users. 


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    Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

    This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

    *Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

    GDEV (GDEV) – Off To A Strong Start

    Posted on by slightbourne@noblecapitalmarkets.com


    Monday, May 19, 2025

    Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

    Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

    Refer to the full report for the price target, fundamental analysis, and rating.

    Strong Q1 Results. The company reported Q1 revenue of $97.0 million and adj. EBITDA of $15.6 million, both of which easily surpassed our estimates of $87.0 million and a loss of $0.6 million, respectively, as illustrated in Figure #1 Q1 Results. Notably, while revenue decreased 9% from last year, adj. EBITDA was up substantially from a loss of roughly $1.0 million. The improvement in adj. EBITDA was largely driven by the company’s efficient use of marketing spend and focus on profitability.

    Key operating metrics. Notably, while bookings and monthly paying users decreased by 25% and 26%, respectively, compared to the prior year period, the decrease was largely expected as the company is focused on improving the quality of gameplay and not over-monetizing its user base. For example, average bookings per paying user (ABPPU) increased from $88 in Q1’24 to $90 in Q1’25, despite a decrease in monthly paying users. 


    Get the Full Report

    Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

    This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

    *Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

    GDEV Inc. (GDEV) – A More Profitable Growth Outlook

    Posted on by cpereira@noblefcm.com


    Tuesday, April 08, 2025

    Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

    Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

    Refer to the full report for the price target, fundamental analysis, and rating.

    Solid Q4 results. The company reported Q4 revenue of $97.5 million, modestly lower than our estimate of $101.0 million, but adj. EBITDA of $12.2 million was substantially better than our estimate of a loss of $1.9 million. The adj. EBITDA beat was largely driven by the company’s efficient use of selling and marketing expenses, which were 25% lower than our estimate.

    Key operating metrics. In Q4, the company generated $94 million in bookings and had 292,000 monthly paying users (MPU). Bookings were largely in line with our expectations, while MPUs were modestly lower than we anticipated. Importantly, the decrease in MPU’s moderated from the quarter-over-quarter decrease experienced in Q3, and the company’s strategic marketing efforts appear to be gaining traction.


    Get the Full Report

    Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

    This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

    *Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

    GDEV Inc. (GDEV) – Marketing Strategy Hits Its Stride

    Posted on by cpereira@noblefcm.com


    Thursday, April 03, 2025

    Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

    Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

    Refer to the full report for the price target, fundamental analysis, and rating.

    Solid Q4 results.  The company reported Q4 revenue of $97.5 million, modestly lower than our estimate of $101.0 million, but adj. EBITDA of $12.2 million was substantially better than our estimate of a loss of $1.9 million, as illustrated in Figure #1 Q4 Results. The adj. EBITDA beat was largely driven by the company’s efficient use of selling and marketing expenses, which was 25% lower than our estimate.

    Key operating metrics. In Q4, the company generated $94 million in bookings and had 292,000 monthly paying users (MPU). Bookings were largely in line with our expectations, while MPUs were modestly lower than we anticipated. Importantly, the decrease in MPU’s moderated from the quarter-over-quarter decrease experienced in Q3, and the company’s strategic marketing efforts appear to be gaining traction.


    Get the Full Report

    Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

    This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

    *Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

    Release – GDEV Provides Clarification In Respect Of Previously Announced Special Cash Dividend

    Posted on by aweinsoff@channelchek.com

    Research News and Market Data on GDEV

    February 25, 2025 08:00 ET 

    LIMASSOL, Cyprus, Feb. 25, 2025 (GLOBE NEWSWIRE) — GDEV Inc. (Nasdaq: GDEV), an international gaming and entertainment company (“GDEV” or the “Company”), today issued a clarification in respect of its previously announced one-time, nonrecurring special cash dividend of $3.31 per share, payable on March 11, 2025, to the Company’s shareholders of record as of the close of business on March 3, 2025. According to Nasdaq, the ex-dividend date for Nasdaq trading will be March 12, 2025.

    Nasdaq Rule 11140(b)(2) provides that if the value of a cash dividend is 25% or greater than the value of the subject security, the ex-dividend date will be the first business day following the payable date. According to Nasdaq, the value of the subject security is based upon the closing bid price as of the last trading date before the public announcement of the cash dividend. The closing bid price of GDEV shares as of February 20, 2025, the last trading date before the Company’s public announcement of the special dividend, was $12.82.

    On March 12, 2025, the ex-dividend date, Nasdaq will reset the opening trading price of GDEV’s ordinary shares to reflect the payment of the special dividend. While an investor generally needs to own the shares on the payable date to be entitled to the special dividend, investors should consult with their financial advisors as to their entitlement to the special dividend. The trading price for GDEV’s ordinary shares on the ex-dividend date is expected to be lower than the closing price on March 11, 2025, the last trading date before the ex-dividend date, to reflect the amount of the special dividend. On and after the ex-dividend date, purchasers of GDEV’s ordinary shares will have no right to receive the special dividend with respect to those newly purchased ordinary shares.

    About GDEV Inc.
    GDEV is a gaming and entertainment holding company, focused on development and growth of its franchise portfolio across various genres and platforms. With a diverse range of subsidiaries including Nexters and Cubic Games, among others, GDEV strives to create games that will inspire and engage millions of players for years to come. Its franchises, such as Hero Wars, Island Hoppers, Pixel Gun 3D and others have accumulated over 550 million installs and $2.5 billion of bookings worldwide. For more information, please visit www.gdev.inc.

    Contacts:

    Investor Relations
    Roman Safiyulin | Chief Corporate Development Officer
    investor@gdev.inc

    Cautionary statement regarding forward-looking statements

    Certain statements in this press release 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 to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements.

    The forward-looking statements contained in this press release are based on the Company’s current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting the Company will be those that the Company has anticipated. Forward-looking statements involve a number of risks, uncertainties (some of which are beyond the Company’s control) or other assumptions. You should carefully consider the risks and uncertainties described in the “Risk Factors” section of the Company’s 2023 Annual Report on Form 20-F, filed by the Company on April 29, 2024, and other documents filed by the Company from time to time with the SEC. Should one or more of these risks or uncertainties materialize, or should any of the Company’s assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

    GDEV (GDEV) – Returning Capital To Shareholders

    Posted on by slightbourne@noblecapitalmarkets.com


    Monday, February 24, 2025

    Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

    Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

    Refer to the full report for the price target, fundamental analysis, and rating.

    Special dividend. On Friday, February 21, the company announced that its board of directors approved a nonrecurring special cash dividend of $3.31 per share. The sizeable cash dividend, payable on March 11 to shareholders of record on March 3, represented a yield of roughly 20% at the time of announcement. Furthermore, the cash dividend totals roughly $60 million and will be funded entirely through the company’s healthy cash position.

    Delivering value. In our view, the special cash dividend is illustrative of the Board of Directors’ confidence in the company’s long-term outlook, strong financial position, and commitment to deliver value to shareholders. Notably, we believe the company will be able to pay out the sizeable dividend without compromising its strategic growth initiatives in player retention and quality of gameplay.


    Get the Full Report

    Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

    This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

    *Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

    Release – GDEV Declares One-Time, Nonrecurring Special Cash Dividend of $3.31 Per Share

    Posted on by aweinsoff@channelchek.com

    Research News and Market Data on GDEV

    February 21, 2025 08:00 ET 

    LIMASSOL, Cyprus, Feb. 21, 2025 (GLOBE NEWSWIRE) — GDEV Inc. (Nasdaq: GDEV), an international gaming and entertainment company (“GDEV” or the “Company”), today announced that its Board of Directors has authorized and approved a one-time, nonrecurring special cash dividend of $3.31 per share, representing a yield of approximately 20% based on the volume-weighted average price of the Company’s shares for the last 30 trading days prior to today’s announcement. The special dividend is payable on March 11, 2025, to the Company’s shareholders of record as of the close of business on March 3, 2025.

    This one-time special dividend, totaling approximately $60 million, will be funded from GDEV’s accumulated profits over the past few years and represents a portion of the Company’s total cash balance of approximately $153 million1 (as of Q3 2024). The Company expects to release its audited results for the 2024 financial year around the end of the first quarter of 2025.

    By distributing a portion of its retained earnings, GDEV better optimizes its capital structure, reducing excess liquidity and providing for a more lean and efficient operating model. This decision reflects the Company’s commitment to disciplined capital allocation and long-term value creation. The Board’s confidence in GDEV’s financial strength underscores its proactive approach to maintaining an optimal balance between stability and growth in the volatile environment. Importantly, this special dividend is a one-time distribution and does not establish a recurring dividend program. It is not anticipated that the GDEV’s Board of Directors will declare any further dividends in the foreseeable future.

    GDEV Founder, CEO, and Chairman of the Board of Directors, Andrey Fadeev, stated: “The special dividend is the first in the Company’s history since our public listing. The decision to declare a special dividend underscores our commitment to delivering value to our shareholders while maintaining a strong financial position. Our robust balance sheet enables us to return capital to shareholders without compromising our ability to invest in the Company’s long-term growth. Following this distribution, GDEV will remain debt-free with a substantial cash balance providing financial stability and the continued development of both our existing portfolio and future initiatives.”

    About GDEV Inc.
    GDEV is a gaming and entertainment holding company, focused on development and growth of its franchise portfolio across various genres and platforms. With a diverse range of subsidiaries including Nexters and Cubic Games, among others, GDEV strives to create games that will inspire and engage millions of players for years to come. Its franchises, such as Hero Wars, Island Hoppers, Pixel Gun 3D and others have accumulated over 550 million installs and $2.5 billion of bookings worldwide. For more information, please visit www.gdev.inc.

    Contacts:

    Investor Relations
    Roman Safiyulin | Chief Corporate Development Officer
    investor@gdev.inc

    Cautionary statement regarding forward-looking statements

    Certain statements in this press release 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 to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements.

    The forward-looking statements contained in this press release are based on the Company’s current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting the Company will be those that the Company has anticipated. Forward-looking statements involve a number of risks, uncertainties (some of which are beyond the Company’s control) or other assumptions. You should carefully consider the risks and uncertainties described in the “Risk Factors” section of the Company’s 2023 Annual Report on Form 20-F, filed by the Company on April 29, 2024, and other documents filed by the Company from time to time with the SEC. Should one or more of these risks or uncertainties materialize, or should any of the Company’s assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

    _______________________
    1 Including the investments into high quality liquid securities.

    Release – GDEV Aligns Leadership as Founder and CEO Andrey Fadeev Appointed Chairperson of the Board

    Posted on by aweinsoff@channelchek.com

    Research News and Market Data on GDEV

    February 13, 2025 08:00 ET | Source: GDEV Inc.

    LIMASSOL, Cyprus, Feb. 13, 2025 (GLOBE NEWSWIRE) — GDEV Inc. (NASDAQ: GDEV), an international gaming and entertainment company (“GDEV” or the “Company”), today announced the appointment of Andrey Fadeev, GDEV’s founder and CEO and a member of the Company’s Board of Directors (the “Board”), as Chairperson of the Board, effective immediately. This appointment represents a strategic evolution in the Company’s leadership structure, designed to strengthen the alignment between strategic oversight and operational execution. As part of this planned transition, Natasha Braginsky Mounier, an independent non-executive director and chairperson of the Board will step down from her position as Independent Chairperson and depart from the Board. Ms. Braginsky Mounier will receive a severance payment from the Company, compensating her for her services as Chairperson and director of the Board for the term beginning with the last annual general meeting of the Company’s shareholders.

    The Board will maintain its independent majority, with three out of five directors continuing to serve as independent members, continuing to adhere to best practices for corporate governance and oversight of the Company’s operations. Ms. Braginsky Mounier’s membership positions on the GDEV Board’s Committees will, by resolution of the Board, be reassigned among its current independent members: Tal Shoham, who is able to read and understand fundamental financial statements in accordance with Nasdaq audit committee requirements, will take her place on the Audit Committee, while Marie Holive will join the Nomination and Compensation Committee.

    “This is an exciting new chapter for GDEV as we continue to execute on our strategic vision and drive growth across our portfolio of studios,” said Andrey Fadeev, CEO, founder and newly appointed Chairperson of GDEV. “By aligning Board leadership more closely with our operational expertise, we are well-positioned to accelerate decision-making and capitalize on market opportunities while maintaining the highest standards of corporate governance.”

    Mr. Fadeev continued: “On behalf of the Board of Directors and management team of GDEV, I would like to express our deep appreciation to Ms. Braginsky Mounier for her exemplary leadership and invaluable contributions during her tenure as Independent Chairperson. Under her guidance, GDEV has significantly strengthened its corporate governance framework, enhanced board effectiveness, and established robust oversight practices that will continue to benefit the Company for years to come. Ms. Braginsky Mounier’s dedication to promoting transparency and accountability has helped create a strong foundation for GDEV’s next phase of growth.”

    The Company remains committed to maintaining open and transparent communication with its stakeholders, as the Board continues to prioritize long-term, sustainable growth while upholding the highest standards of corporate governance and oversight.

    About GDEV
    GDEV is a gaming and entertainment holding company, focused on development and growth of its franchise portfolio across various genres and platforms. With a diverse range of subsidiaries including Nexters and Cubic Games, among others, GDEV strives to create games that will inspire and engage millions of players for years to come. Its franchises, such as Hero Wars, Island Hoppers, Pixel Gun 3D and others have accumulated over 550 million installs and $2.5 bln of bookings worldwide. For more information, please visit www.gdev.inc

    Contacts:
    Investor Relations
    Roman Safiyulin | Chief Corporate Development Officer
    investor@gdev.inc

    CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
    Certain statements in this press release 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 to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements.

    The forward-looking statements contained in this press release are based on the Company’s current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting the Company will be those that the Company has anticipated. Forward-looking statements involve a number of risks, uncertainties (some of which are beyond the Company’s control) or other assumptions. You should carefully consider the risks and uncertainties described in the “Risk Factors” section of the Company’s 2023 Annual Report on Form 20-F, filed by the Company on April 29, 2024, and other documents filed by the Company from time to time with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should any of the Company’s assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

    GDEV Inc. (GDEV) – Highlights From NobleCon20: Geared For Growth

    Posted on by cpereira@noblefcm.com


    Tuesday, December 10, 2024

    Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

    Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

    Refer to the full report for the price target, fundamental analysis, and rating.

    NobleCon20. On December 3rd, management presented to the investment community at NobleCon20, held at Florida Atlantic University (FAU) in Boca Raton, Florida. The presentation was conducted by Alexander Karavaev, chief financial officer, and Roman Safiyulin, chief corporate development officer. The duo highlighted the company’s dynamic growth prospects and the prospective swing toward growth in bookings. A replay of the presentation can be viewed by clicking here.

    Dynamic business model. The company focuses on live-service games, meaning that the games have a continuous lifespan and are updated on an ongoing basis. This allows for a stable revenue base that grows over time, unlike many gaming companies with a “lumpier” revenue profile that oscillates based on game release schedules. 


    Get the Full Report

    Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

    This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

    *Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

    GDEV Inc. (GDEV) – Raising Adj. EBITDA Estimates

    Posted on by cpereira@noblefcm.com


    Tuesday, November 19, 2024

    Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

    Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

    Refer to the full report for the price target, fundamental analysis, and rating.

    Solid Q3 results. Total company revenue was $110.7 million, which beat our $103.0 million estimate by 7.4%, and adj. EBITDA of $16.9 million, substantially exceeded our estimate of $4.9 million. The adj. EBITDA beat was largely attributed to the revenue upside and modestly lower game operating and marketing expenses. The strong operating results also beat Street estimates, with consensus adj. EBITDA of $8.5 million.

    Attractive outlook. While revenue outperformed our expectations, bookings were lower than expected. Management highlighted its focus on player retention and quality of play rather than short term monetization of its user base. Given that active users were down roughly 16% from the prior year period, we view the company’s focus on player retention and improving gameplay favorably.


    Get the Full Report

    Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

    This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

    *Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

    GDEV Inc (GDEV) – Nearly Doubles Street Expectations

    Posted on by cpatches


    Friday, November 15, 2024

    Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

    Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

    Refer to the full report for the price target, fundamental analysis, and rating.

    Over delivered on Q3 results. Total company revenue was $110.7 million, beating our $103.0 million estimate. With costs in line with expectations, the revenue upside flowed to adj. EBITDA, which substantially exceeded our expectations, of $16.9 million versus our estimate of $4.9 million, as illustrated in Figure #1 Q3 Results. We believe that the results beat Street estimates, with consensus adj. EBITDA of $8.5 million.

    Upside variance. The company is seeking ways to make efficient use of its marketing spend, particularly in areas that provide sufficient returns. Sales & Marketing expenses of $52.0 million were lower than our $53.0 million estimate in spite of better than expected revenues. We anticipate Sales & Marketing expenses to accelerate in coming quarters as the company hones in on its marketing strategy and expands into new territories. 


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