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GDEV (GDEV) investor relations material
GDEV Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue for Q2 2026 was $94 million, down 22% year-over-year, and H1 2026 revenue was $193 million, down 11% year-over-year.
Profit for Q2 2026 was $20 million, up from $17 million in Q2 2025; H1 2026 profit was $37 million, up from $31 million in H1 2025.
Adjusted EBITDA for Q2 2026 was $20 million (down from $22 million), while H1 2026 Adjusted EBITDA was $39 million (up from $38 million).
Cash flows from operating activities improved to $10 million in Q2 2026 and $15 million in H1 2026, compared to negative flows in prior periods.
Financial highlights
Selling and marketing expenses dropped 38% year-over-year in Q2 2026 and 27% in H1 2026, reflecting a focus on efficient user acquisition.
Platform commissions decreased 29% in Q2 2026 and 17% in H1 2026, in line with lower revenues.
Game operation and general/admin costs remained stable year-over-year.
Outlook and guidance
Management emphasizes a selective approach to marketing, prioritizing channels with higher long-term value.
Forward-looking statements caution about risks and uncertainties affecting future performance.
- Q1 2026 saw revenue and profit growth, driven by higher in-app purchases and marketing efficiency.GDEV
Q1 2026 - 2025 revenue fell 4% to $404.3M, but net income rose to $69.3M on lower marketing costs.GDEV
Q4 2025 - Up to 1.76M treasury shares to be sold at market, with proceeds for general corporate use.GDEV
Registration Filing - Registers 222M+ shares and 7.75M warrants for resale; future cash depends on warrant exercises.GDEV
Registration Filing - Margins improved in Q3 2025 despite lower revenue, bookings, and paying users.GDEV
Q3 2025 - Q2 2025 saw revenue and profit growth, but bookings and monthly paying users declined.GDEV
Q2 2025 - Net profit rebounded to $14 million as lower marketing costs offset a 9% revenue decline.GDEV
Q1 2025 - Q3 revenue up 5% sequentially to $111M, but profit and bookings declined year-over-year.GDEV
Q3 2024 - Q2 net profit rebounded to $15M as PC growth and launches offset lower revenue.GDEV
Q2 2024
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