Overview

* GDEV ( GDEV ) Q2 revenue rises 13% yr/yr, beating analyst expectations

* Net income for Q2 increases to $17 mln from $15 mln in 2024

* Adjusted EBITDA for Q2 rises to $22 mln from $17 mln in 2024

Result Drivers

* IN-APP PURCHASES - Revenue increase driven by higher consumable in-app purchases, despite lower advertising bookings

* MARKETING EXPENSES - Selling and marketing expenses rose 11% due to testing new performance marketing areas

* NEGATIVE CASH FLOW - Operating cash flow turned negative due to decreased bookings and increased marketing expenses

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Beat $120 mln $89.30

Revenue mln (2

Analysts

)

Q2 Net $17 mln

Income

Q2 $22 mln

Adjusted

EBITDA

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the software peer group is "buy"

* Wall Street's median 12-month price target for GDEV Inc ( GDEV ) is $70.00, about 79.3% above its August 29 closing price of $14.48

* The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 6 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)