Nexters Inc

NASDAQ:GDEV

Strong Revenue Growth: Nexters reported Q3 2021 revenue of $115 million, up 77% year-over-year, driven by organic growth and strong performance despite a high base from the prior year.

Profitability Improvement: Adjusted net income turned positive at $8 million in Q3, compared to an $11 million loss in the same period last year.

Robust Cash Flow: Operational cash flow rose to $51 million, up 59% year-over-year, highlighting the company’s strong cash generation.

Bookings Guidance Updated: Full-year bookings are now expected to be $560–570 million, with the change attributed to a technical adjustment in platform commission accounting, not core business performance.

Platform & Geographic Expansion: Nexters has seen rapid growth in Asia and desktop platforms, with desktop bookings now making up almost a third of total bookings.

Active User Growth: Paying users grew to 371,000, up 30% year-over-year, while average spend per payer remained steady.

Positive IDFA Impact: Despite industry-wide concerns, Nexters saw no drop in iOS marketing efficiency post-IDFA changes, benefiting from proprietary data and strong analytics.