In the third quarter of 2024, the share of PC versions of our games increased by 1 p.p. compared with the same period of 2023.
Split of bookings by geography Q3 2024 Q3 2023 9M 2024 9M 2023 ------------------------------- ------- ------- ------- ------- US 34% 35% 34% 36% ------------------------------- Asia 22% 23% 22% 24% ------------------------------- ------- ------- ------- ------- Europe 30% 26% 30% 25% ------------------------------- ------- ------- ------- ------- Other 14% 16% 14% 15% ------------------------------- ------- ------- ------- -------
Our split of bookings by geography in the third quarter of 2024 vs. the respective period of 2023 remained broadly similar, with a certain increase in the share of Europe bookings.
Note:
Due to rounding, the numbers presented throughout this release may not precisely add up to the totals. The period-over-period percentage changes are based on the actual numbers and may therefore differ from the percentage changes if those were to be calculated based on the rounded numbers.
The figures in this release are unaudited.
Webcast details
To listen to the audio webcast with supplementary slides please follow the link. Prepared remarks are available on gdev.inc.
About GDEV
GDEV is a gaming and entertainment holding company, focused on development and growth of its franchise portfolio across various genres and platforms. With a diverse range of subsidiaries including Nexters and Cubic Games, among others, GDEV strives to create games that will inspire and engage millions of players for years to come. Its franchises, such as Hero Wars, Island Hoppers, Pixel Gun 3D and others have accumulated over 550 million installs and $2.5 bln of bookings worldwide. For more information, please visit www.gdev.inc
Contacts:
Investor Relations
Roman Safiyulin | Chief Corporate Development Officer
investor@gdev.inc
Cautionary statement regarding forward-looking statements
Certain statements in this press release may constitute "forward-looking statements" for purposes of the federal securities laws. Such statements are based on current expectations that are subject to risks and uncertainties. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements.
The forward-looking statements contained in this press release are based on the Company's current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting the Company will be those that the Company has anticipated. Forward-looking statements involve a number of risks, uncertainties (some of which are beyond the Company's control) or other assumptions. You should carefully consider the risks and uncertainties described in the "Risk Factors" section of the Company's 2023 Annual Report on Form 20-F, filed by the Company on April 29, 2024, and other documents filed by the Company from time to time with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should any of the Company's assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
Presentation of Non-IFRS Financial Measures
In addition to the results provided in accordance with IFRS throughout this press release, the Company has provided the non-IFRS financial measure "Adjusted EBITDA" (the "Non-IFRS Financial Measure"). The Company defines Adjusted EBITDA as the profit/loss for the period, net of tax as presented in the Company's financial statements in accordance with IFRS, adjusted to exclude (i) goodwill and investments in equity accounted associates' impairment, (ii) loss on disposal of subsidiaries, (iii) income tax expense, (iv) other financial income, finance income and expenses other than foreign exchange gains and losses and bank charges, (v) change in fair value of share warrant obligations and other financial instruments, (vi) share of loss of equity-accounted associates, (vii) depreciation and amortization, (viii) share-based payments expense and (ix) certain non-cash or other special items that we do not consider indicative of our ongoing operating performance. The Company uses this Non-IFRS Financial Measure for business planning purposes and in measuring its performance relative to that of its competitors. The Company believes that this Non-IFRS Financial Measure is a useful financial metric to assess its operating performance from period-to-period by excluding certain items that the Company believes are not representative of its core business. This Non-IFRS Financial Measure is not intended to replace, and should not be considered superior to, the presentation of the Company's financial results in accordance with IFRS. The use of the Non-IFRS Financial Measure terms may differ from similar measures reported by other companies and may not be comparable to other similarly titled measures.
Reconciliation of the profit for the period, net of tax to the Adjusted EBITDA
US$ million Q3 2024 Q3 2023 9M 2024 9M 2023 ------------------------------------ ---------- ---------- ------- ------- Profit for the period, net of tax 15 24 28 35 ------------------------------------ ---------- ---------- ------- ------- Adjust for: ------------------------------------ ---------- ---------- ------- ------- Income tax expense 1 2 3 3 ------------------------------------ ---------- ---------- ------- ------- Adjusted finance (income)/expenses(5) (2) 0.9 (6) (2) ------------------------------------ ---------- ---------- ------- ------- Change in fair value of share warrant obligations and other financial instruments -- 0.8 (0.3) (10) ------------------------------------ ---------- ---------- ------- ------- Share of loss of equity-accounted associates -- -- -- 0.5 ------------------------------------ ---------- ---------- ------- ------- Depreciation and amortization 2 2 5 5 ------------------------------------ ---------- ---------- ------- ------- Share-based payments 0.7 0.7 1 2 ------------------------------------ ---------- ---------- ------- ------- Adjusted EBITDA 16 29 30 33 ------------------------------------ ---------- ---------- ------- -------
(_______________________________) (1) Pursuant to the Company's registration statement filed with the SEC on Form F-3 (Registration No. 333-282062) and related prospectus, which was filed with the Securities and Exchange Commission on September 12, 2024.
(2) For more information, see section titled "Presentation of Non-IFRS Financial Measures" in the last two pages of this report, including the reconciliation of the profit for the period, net of tax to the Adjusted EBITDA.
(3) The amounts include investments in liquid high quality securities.
(4) The amounts presented for the three and nine months ended September 30, 2023 may be different to those previously reported for these periods earlier as starting from Q1 2024 the Company reports depreciation and amortization expenses by function as a part of game operation cost, selling and marketing expenses, and general and administrative expenses in accordance with IAS 1.
(5) Adjusted finance income/expenses consist of other financial income, finance income and expenses other than foreign exchange gains and losses and bank charges, net.
(END) Dow Jones Newswires
November 14, 2024 08:00 ET (13:00 GMT)
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