GDEV Inc. (NASDAQ: GDEV) shares vaulted Friday, as the Cyprus-based company, an international gaming and entertainment concern, released its financial and operational results for the first quarter ended March 31, 2025.
Revenue of $97 million declined by 9% year-over-year.
Selling and marketing expenses of $42 million declined by 33% year-over-year driven by a shift in our user acquisition strategy to focus on a higher margin audience.
Game operation cost remained relatively stable at the level of $14 million vs. $13 million in Q1 2024.
Profit for the period, net of tax, of $14 million in Q1 2025 increased vs. loss of $5 million in Q1 2024, mostly due to the decrease in selling and marketing expenses.
Adjusted EBITDA of $16 million increased vs. loss of $0.9 million in Q1 2024.
Average Bookings Per Paying User slightly increased by 2% year-over-year to $90.
PC platform continued to strengthen our diversified distribution strategy, reaching a solid 41% of bookings and supporting our lower commission structure.
Game operation cost remained relatively stable at the level of $14 million in the first quarter of 2025 vs. $13 million in the first quarter of 2024.
Selling and marketing expenses in the first quarter of 2025 decreased by $21 million vs. the same period in 2024, amounting to $42 million.
The decrease is attributable to a shift in user acquisition strategy focused on enhancing efficiency.
GDEV shares leaped 99 cents, or 6.7%, to $15.62.