GDEV Inc. released its financial and operational results for the second quarter and first half-year ended June 30, 2025, on September 2, 2025. For Q2 2025, revenue increased by $14 million, or 13% year-over-year, to $120 million. Net profit for the quarter was $17 million, up from $15 million in Q2 2024, and Adjusted EBITDA increased by $5 million to $22 million.
However, bookings for Q2 2025 declined to $92 million from $108 million in Q2 2024, and cash flows generated from operating activities were negative $10 million, compared to positive $11 million in the prior year. Selling and marketing expenses increased by $5 million to $53 million year-over-year, attributed to tests in performance marketing.
For the first half of 2025, revenue increased by $4 million, or 2% year-over-year, to $217 million. Net profit significantly improved to $31 million from $9 million in H1 2024, and Adjusted EBITDA rose by $22 million to $38 million. Bookings for the first half declined to $173 million from $216 million in H1 2024, and operating cash flows were negative $4 million, compared to positive $12 million in H1 2024.
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