Gaming firm GDEV has announced a modest revenue increase of 2% year-over-year for the first quarter, totaling $99 million. This growth was primarily attributed to a rise in in-app purchases, which has become a significant revenue stream for the company.
Net profit for the quarter surged to $17 million, up from $14 million in the previous year. Additionally, adjusted EBITDA rose to $18 million, reflecting a positive trend in financial performance.
Key Financial Highlights
- Revenue: $99 million, a 2% increase year-on-year.
- Net Profit: $17 million, compared to $14 million last year.
- Adjusted EBITDA: $18 million, up from $16 million.
Strategic Focus
The company has shifted its strategy to focus on acquiring higher-value players, which has led to a reduction in marketing expenses. This selective approach has contributed to improved financial metrics.
User Engagement
Average bookings per paying user increased by 8%, which helped to offset a 5% decline in the number of monthly paying users. This indicates a shift in user engagement, with existing customers spending more.
Future Outlook
While GDEV has not provided specific guidance for future periods, the current trends suggest a continued focus on enhancing user experience and maximizing revenue from in-app purchases.
