Gaming firm GDEV's Q2 revenue beats analyst expectations
Overview
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/Miss | Actual | Consensus Estimate |
Q2 Revenue | Beat | $120 mln | $89.30 mln (2 Analysts) |
Q2 Net Income | $17 mln | ||
Q2 Adjusted EBITDA | $22 mln |
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 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: