GDEV Inc. released its financial and operational results for the first quarter ended March 31, 2025, on May 16, 2025. Revenue for the quarter declined by $10 million, or 9% year-over-year, to $97 million. Bookings also decreased by $28 million compared to the same period in 2024, reaching $81 million.
Despite the revenue and bookings decline, the company recorded a profit for the period, net of tax, of $14 million, a significant improvement compared to a loss of $5 million in Q1 2024. Adjusted EBITDA increased by $17 million year-over-year to $16 million.
Cash flows generated from operating activities improved to $6 million in Q1 2025, up from $0.4 million in the prior year. Selling and marketing expenses decreased by $21 million year-over-year to $42 million, reflecting a shift in user acquisition strategy focused on enhancing efficiency.
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