GDEV Inc. (NASDAQ:GDEV) Q3 2024 Earnings Conference Call November 14, 2024 9:00 AM ET

Company Participants

Andrey Fadeev - Founder and Chief Executive Officer
Alexander Karavaev - Chief Financial Officer
Roman Safiyulin - Chief Corporate Development Officer

Conference Call Participants

Pat McCann - Noble Capital Markets
Edward James - Cantor Fitzgerald
Martin Yang - Oppenheimer & Co.
Michael Kupinski - Noble Capital Markets

Operator

Good day and thank you for standing by. Welcome to the GDEV Third Quarter 2024 Earnings Conference Call. At this time, all participants are in listen-only mode. After the speakers’ presentation, there will be the question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your first speaker today, Roman Safiyulin. Please go ahead.

Roman Safiyulin

Good day, everyone, and warm greetings from Cyprus. We are delighted to have you join us today as we present GDEV’s third quarter 2024 earnings results. On today’s call, our presenters, first will be Andrey Fadeev, Founder and CEO; Alexander Karavaev, Chief Financial Officer; and me, Roman Safiyulin, Chief Corporate Development Officer.

Before we get started, I would like to remind you that today’s discussion may contain forward-looking statements which may not develop as we currently expect. We have posted a supplementary presentation at gdev.inc, which contains information and precautionary warnings on forward-looking statements as well as our non-IFRS financial measures. For a more complete discussion of the risks and uncertainties, please see our filings with the SEC.

Now, let me hand it over to Andrey.

Andrey Fadeev

Yes, I am Andrey. Thank you, Roman. I greet everyone, and especially our dear and respected analysts. Thank you for your work. Looking back on the third quarter, we see revenue growth compared to the prior quarter, and exceeding analysts’ expectation for both revenue and adjusted EBITDA. As you all know, we take a long-term perspective on our key products, focusing on unlocking their potential, and fostering sustainable growth over quick wins. The gaming landscape continues to evolve rapidly, shaped by dynamic player preferences, shifting game play trends, and intensifying competition across the entertainment industry.

And rather than concentrating on short-term enhancements with limited impact, our studios are moving toward implementing thoughtful, long-term product changes aimed at fostering sustained growth and deeper play engagement. These updates span various aspects of our games, including core game play mechanics, meta progression, live operations, monetization models, marketing strategies, and art direction. By aligning game play more closely with audience preferences and enhancing emotional engagement, we aim to steadily improve key metrics such as player retention, lifetime value, and cohort monetization, while also increasing the efficiency of our marketing efforts.