GDEV Reports 2% Revenue Growth to $99M and 22% Profit Increase
Revenue rose 2% year-over-year to $99 million in Q1 2026 and adjusted EBITDA increased 15% to $18 million, driving net profit up 22% to $17 million. Selling and marketing expenses declined 13% to $37 million, offsetting a $1 million foreign exchange loss and supporting improved operating margins.
1. Financial results
GDEV posted Q1 2026 revenue of $99 million, a 2% increase year-over-year, adjusted EBITDA of $18 million, up 15%, and net profit of $17 million, a 22% gain, despite a $1 million foreign exchange loss.
2. Cost reductions
Selling and marketing expenses decreased by $5 million, or 13%, to $37 million through more targeted user acquisition, while general and administrative expenses increased to $10 million due to elevated legal costs.
3. Operational metrics
Bookings grew 2% to $83 million driven by an 8% rise in average bookings per paying user to $97, offsetting a 5% decline in monthly paying users; mobile platform share expanded to 64% and Europe’s share climbed to 32%.