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The fourth quarter revenue saw a 10% increase to $109 million, attributed to a $6 million rise in deferred revenue and a $4 million boost in bookings. Adjusted EBITDA for the quarter was $10 million, a significant recovery from the negative $9 million reported in the fourth quarter of 2022.
For the full year, GDEV’s revenue dipped slightly by 3% to $465 million, with bookings falling 6% to $422 million. Despite the decrease in revenue, the company managed to reduce platform commissions by 16% and general and administrative expenses by 18%. Adjusted EBITDA for 2023 was $43 million, down from $96 million the previous year.
The company’s operational performance in the fourth quarter showed a 4% increase in bookings and a 13% rise in monthly paying users (MPU), which is expected to positively influence future bookings. The share of advertising sales also increased, contributing 6.5% to total bookings in the fourth quarter, up from 4.3% in the same period in 2022.
GDEV’s geographical spread of bookings remained largely consistent, with a notable increase in Europe’s share. The company also highlighted a shift towards PC platforms, which now represent a larger portion of bookings compared to mobile.
The financial figures in this release are preliminary and unaudited, and the company’s audited financial statements for the year ended December 31, 2023, will be included in its 2023 Annual Report on Form 20-F. The report is expected to be published within the prescribed filing period.
This summary is based on a press release statement from GDEV Inc. and presents the company’s financial performance without speculation or promotional commentary.
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