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GDEV
GDEV (GDEV) investor relations material
GDEV Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary24 Nov, 2025
Executive summary
Q3 2025 revenue declined 12% year-over-year to $97.6M–$98M, reflecting lower consumer spending and a strategic shift to higher-quality user acquisition.
Net profit for Q3 2025 increased to $24.1M from $14.6M–$15M in Q3 2024, with margin improvement to 25% from 13%.
Adjusted EBITDA rose to $26M (27% margin), up 50% from $17M (16% margin) in Q3 2024.
Cash flows from operating activities were $14.8M–$15M in Q3 2025, up from $12M in Q3 2024.
Financial highlights
Total costs and expenses (excluding D&A) decreased to $71M from $93M year-over-year.
Selling and marketing expenses dropped 43% year-over-year in Q3 2025 to $30M, and as a percentage of revenue fell to 24% from 26%.
Earnings per share (basic) for Q3 2025 was $1.33, up from $0.80 in Q3 2024.
Revenue for the first nine months of 2025 was $315M, down 3% year-over-year.
Adjusted EBITDA for the first nine months of 2025 was $64M, up 93% year-over-year.
Outlook and guidance
Management is focused on disciplined marketing and attracting higher-value users to support long-term profitability.
Forward-looking statements highlight risks and uncertainties, with reference to the 2024 Annual Report and SEC filings for detailed risk factors.
Explain the MPU decline vs ABPPU increase drivers
What drives the shift in booking share to PC
Reconcile Q3 vs 9M operating cash flow trends
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Latest events from GDEV
- Q2 net profit rebounded to $15M as PC growth and launches offset lower revenue.GDEV
Q2 202422 Jan 2026 - Q3 revenue up 5% sequentially to $111M, but profit and bookings declined year-over-year.GDEVQ3 202414 Jan 2026
- Up to 1.76M treasury shares to be sold at market, with proceeds for general corporate use.GDEVRegistration Filing16 Dec 2025
- Registers 222M+ shares and 7.75M warrants for resale; future cash depends on warrant exercises.GDEVRegistration Filing16 Dec 2025
- Q2 2025 saw revenue and profit growth, but bookings and monthly paying users declined.GDEVQ2 202523 Sep 2025
- Net profit rebounded to $14 million as lower marketing costs offset a 9% revenue decline.GDEVQ1 202516 Jun 2025
- Adjusted EBITDA up 22% in Q4 2024 despite revenue decline; special dividend announced.GDEVQ4 20245 Jun 2025
Next GDEV earnings date
Q4 202530 Mar, 2026
GDEV
Next GDEV earnings date
Q4 202530 Mar, 2026
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