GDEV

LIMASSOL, Cyprus, Aug. 21, 2026 (GLOBE NEWSWIRE) -- GDEV Inc. (NASDAQ: GDEV), an international gaming and entertainment company (“GDEV” or the “Company”) released its unaudited financial and operational results for the second quarter and first half-year ended June 30, 2026. Second quarter 2026 financial highlights: Revenue of $94 million decreased by 22% year-over-year. Selling and marketing expenses of $33 million decreased by 38% year-over-year. Profit for the period, net of tax, of $20 million in Q2 2026 increased vs. $17 million in Q2 2025. Adjusted EBITDA amounted to $20 million in Q2 2026 decreased vs. $22 million in Q2 2025. Second quarter and first half of 2026 financial performance in comparison Second quarter 2026 financial performance In the second quarter of 2026, our revenue decreased by $26 million (or 22%) year-over-year and amounted to $94 million. The decrease was primarily driven by a decrease in bookings. Platform commissions decreased by $7 million (or 29%) in the second quarter of 2026 compared to the same period in 2025 in line with the decrease in revenue. Game operation costs remained relatively stable at the level of $15 million in the second quarter of 2026 vs. $14 million in the second quarter of 2025. Selling and marketing expenses in the second quarter of 2026 decreased by $20 million vs. the same period in 2025, amounting to $33 million. This decrease is driven by our continued focus on improving the efficiency of user acquisition activities. The decrease reflects a more selective approach to performance marketing, prioritizing channels that attract players with higher long-term value over broad-scale campaigns aimed at short-term growth. General and administrative expenses remained stable at $9 million in the second quarters of both 2026 and 2025. As a result of the factors above, together with (i) the effect of a net foreign exchange loss in the second quarter of 2026 in the amount of $1 million vs. a net foreign exchange gain in the amount of $1 million in the same period of the prior year and (ii) share of profits of equity accounted associates in the second quarter of 2026 in the amount of $2 million vs. the share of losses of equity accounted associates in the amount of $2 million in the same period of the prior year, we recorded a profit for the period, net of tax, of $20 million in the second quarter of 2026 compared with $17 million in the same period of 2025. Adjusted EBITDA in the second quarter of 2026 amounted to $20 million, a decrease of $2 million compared with the same period in 2025 driven primarily by the same factors as those affecting the profit, except for the share of profits or losses of equity accounted associates, which do not impact the Adjusted EBITDA. Cash flows generated from operating activities were positive $10 million in the second quarter of 2026 compared with negative $10 million in the same period in 2025. ________________________1 For more information, see section titled “Presentation of Non-IFRS Financial Measures” on the last two pages of this report, including the reconciliation of the profit for the period, net of tax to the Adjusted EBITDA. First half of 2026 financial performance In the first half of 2026, our revenue decreased by $24 million (or 11%) year-over-year to $193 million. This decrease was primarily driven by a decrease in bookings. Platform commissions decreased by $8 million (or 17%) in the first half of 2026 compared to the same period in 2025, driven by a decrease of revenues recognized from PC platforms. Game operation cost remained stable at $28 million in the first halves of both 2026 and 2025. Selling and marketing expenses in the first half of 2026 decreased by $25 million vs. the same period in 2025, amounting to $69 million. This decrease is driven by our continued focus on improving the efficiency of user acquisition activities. The decrease reflects a more selective approach to performance marketing, prioritizing channels that attract players with higher long-term value over broad-scale campaigns aimed at short-term growth. General and administrative expenses remained relatively stable at $18 million in the first half of 2026 vs. $17 million in 2025. As a result of the factors above, together with (i) the effect of a net foreign exchange loss in the first half of 2026 in the amount of $2 million vs. a net foreign exchange gain in the amount of $2 million in the same period of prior year and (ii) share of profits of equity accounted associates in the second quarter of 2026 in the amount of $2 million vs. the share of losses of equity accounted associates in the amount of $2 million in the same period of prior year, we recorded a profit for the period, net of tax, of $37 million compared with $31 million in the same period of 2025. Adjusted EBITDA in the first half of 2026 amounted to $39 million, an increase of $1 million compared with the same period in 2025 driven primarily by the same factors as those affecting the profit, except for the share of profits or losses of equity accounted associates, which do not impact the Adjusted EBITDA. Cash flows generated from operating activities were positive $15 million in the first half of 2026 compared with negative $4 million in the same period in 2025. Second quarter and first half 2026 operational performance comparison Bookings declined in the second quarter and first half of 2026 to reach $73 million and $156 million, respectively, compared with $92 million and $173 million in the same periods in 2025. The decline was primarily due to a decline in monthly paying users of 23% and 15% in the second quarter and first half of 2026, respectively, vs. the same periods in 2025. The share of advertisement sales as a percentage of total bookings decreased in the second quarter and first half of 2026 by 0.9 p.p. and 0.5 p.p. vs. the same period in 2025. In the second quarter of 2026, the share of mobile and PC versions of our games remained relatively stable while in the first half of 2026 we recorded an increase in share of mobile to reach 64% vs. 61% in the same period in 2025 and a decrease in share of PC to reach 36% vs. 39% in the same period in 2025. Our split of bookings by geography in the second quarter and first half of 2026 vs. the same periods in 2025 saw a decrease in the share of bookings derived from the US and Asia and an increase in bookings derived from other countries. Note: Due to rounding, the numbers presented throughout this release may not precisely add up to the totals. The period-over-period percentage changes are based on the actual numbers and may therefore differ from the percentage changes if those were to be calculated based on the rounded numbers. Recent developments On August 13, 2026, the Group entered into a game asset purchase agreement with an unrelated party for the sale of the mobile game "Island Hoppers", together with all related intellectual property and game assets, for a total consideration of $5.0 million, of which $4.5 million was received upon execution and $0.5 million represents a deferred payment contingent on the satisfaction of a gross revenue condition and completion of the agreed migration obligations. Island Hoppers contributed approximately 1% to the Group’s bookings in the first half of 2026 and approximately 3% in the year ended December 31, 2025. As a result of the transaction, deferred revenue related to Island Hoppers’ bookings, totaling $2.1 million as of June 30, 2026, will be recognized on an accelerated basis, providing a one-time uplift to reported revenue in the period of closing. About GDEV GDEV is a gaming and entertainment holding company, focused on development and growth of its franchise portfolio across various genres and platforms. With a diverse range of subsidiaries including Nexters and Cubic Games, among others, GDEV strives to create games that will inspire and engage millions of players for years to come. Its franchises, such as Hero Wars, Island Hoppers, Pixel Gun 3D and others have accumulated over 550 million installs and $2.5 billion of bookings worldwide. For more information, please visit www.gdev.inc Contacts: Investor RelationsRoman Safiyulin | Chief Corporate Development [email protected] Cautionary statement regarding forward-looking statements Certain statements in this press release may constitute “forward-looking statements” for purposes of the federal securities laws. Such statements are based on current expectations that are subject to risks and uncertainties. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The forward-looking statements contained in this press release are based on the Company’s current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting the Company will be those that the Company has anticipated. Forward-looking statements involve a number of risks, uncertainties (some of which are beyond the Company’s control) or other assumptions. You should carefully consider the risks and uncertainties described in the “Risk Factors” section of the Company’s 2025 Annual Report on Form 20-F, filed by the Company on March 31, 2026, and other documents filed by the Company from time to time with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should any of the Company’s assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Presentation of Non-IFRS Financial Measures In addition to the results provided in accordance with IFRS throughout this press release, the Company has provided the non-IFRS financial measure “Adjusted EBITDA” (the “Non-IFRS Financial Measure”). The Company defines Adjusted EBITDA as the profit/loss for the period, net of tax as presented in the Company’s financial statements in accordance with IFRS, adjusted to exclude (i) goodwill and investments in equity-accounted associates’ impairment, (ii) loss on disposal of subsidiaries, (iii) income tax expense, (iv) other financial income, finance income and expenses other than foreign exchange gains and losses and bank charges, (v) change in fair value of share warrant obligations and other financial instruments, (vi) share of loss of equity-accounted associates, (vii) depreciation and amortization, (viii) share-based payments expense and (ix) certain non-cash or other special items that we do not consider indicative of our ongoing operating performance. The Company uses this Non-IFRS Financial Measure for business planning purposes and in measuring its performance relative to that of its competitors. The Company believes that this Non-IFRS Financial Measure is a useful financial metric to assess its operating performance from period-to-period by excluding certain items that the Company believes are not representative of its core business. This Non-IFRS Financial Measure is not intended to replace, and should not be considered superior to, the presentation of the Company’s financial results in accordance with IFRS. The use of the Non-IFRS Financial Measure terms may differ from similar measures reported by other companies and may not be comparable to other similarly titled measures. Reconciliation of the profit for the period, net of tax to the Adjusted EBITDA ________________________2 Adjusted finance income/expenses consist of finance income and expenses other than foreign exchange gains and losses and bank charges, net.

PENN Entertainment (PENN) came out with quarterly earnings of $0.44 per share, beating the Zacks Consensus Estimate of $0.35 per share. This compares to earnings of $0.1 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +25.71%. A quarter ago, it was expected that this casino operator would post earnings of $0.05 per share when it actually produced earnings of $0.11, delivering a surprise of +120%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. PENN Entertainment, which belongs to the Zacks Gaming industry, posted revenues of $1.86 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 0.06%. This compares to year-ago revenues of $1.77 billion. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. PENN Entertainment shares have added about 33% since the beginning of the year versus the S&P 500's gain of 12.8%. While PENN Entertainment has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for PENN Entertainment was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #1 (Strong Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.19 on $1.82 billion in revenues for the coming quarter and $1.33 on $7.38 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Gaming is currently in the bottom 24% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the same industry, GDEV Inc. (GDEV), is yet to report results for the quarter ended June 2026. This company is expected to post quarterly earnings of $1.08 per share in its upcoming report, which represents a year-over-year change of +20%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. GDEV Inc.'s revenues are expected to be $115 million, down 4.1% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report PENN Entertainment, Inc. (PENN) : Free Stock Analysis Report GDEV Inc. (GDEV) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Red Rock Resorts (RRR) came out with quarterly earnings of $0.67 per share, beating the Zacks Consensus Estimate of $0.33 per share. This compares to earnings of $0.95 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +103.03%. A quarter ago, it was expected that this company would post earnings of $0.54 per share when it actually produced earnings of $0.73, delivering a surprise of +35.19%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. Red Rock Resorts, which belongs to the Zacks Gaming industry, posted revenues of $510.26 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 2.77%. This compares to year-ago revenues of $526.27 million. The company has topped consensus revenue estimates two times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Red Rock Resorts shares have added about 5.9% since the beginning of the year versus the S&P 500's gain of 11%. While Red Rock Resorts has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Red Rock Resorts was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.28 on $481.7 million in revenues for the coming quarter and $1.52 on $2.02 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Gaming is currently in the bottom 25% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the same industry, GDEV Inc. (GDEV), is yet to report results for the quarter ended June 2026. This company is expected to post quarterly earnings of $1.08 per share in its upcoming report, which represents a year-over-year change of +20%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. GDEV Inc.'s revenues are expected to be $115 million, down 4.1% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Red Rock Resorts, Inc. (RRR) : Free Stock Analysis Report GDEV Inc. (GDEV) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Take-Two Interactive (TTWO) came out with quarterly earnings of $0.8 per share, beating the Zacks Consensus Estimate of $0.56 per share. This compares to earnings of $1.09 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +42.86%. A quarter ago, it was expected that this publisher of "Grand Theft Auto" and other video games would post earnings of $0.83 per share when it actually produced earnings of $1.23, delivering a surprise of +48.19%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. Take-Two, which belongs to the Zacks Gaming industry, posted revenues of $1.58 billion for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 1.90%. This compares to year-ago revenues of $1.58 billion. The company has topped consensus revenue estimates four times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Take-Two shares have lost about 7.6% since the beginning of the year versus the S&P 500's gain of 8.6%. While Take-Two has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Take-Two was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.87 on $1.54 billion in revenues for the coming quarter and $8.04 on $9.18 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Gaming is currently in the top 33% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Another stock from the same industry, GDEV Inc. (GDEV), has yet to report results for the quarter ended March 2026. This company is expected to post quarterly earnings of $0.67 per share in its upcoming report, which represents a year-over-year change of -13%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. GDEV Inc.'s revenues are expected to be $91.5 million, down 5.7% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Take-Two Interactive Software, Inc. (TTWO) : Free Stock Analysis Report GDEV Inc. (GDEV) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

LIMASSOL, Cyprus, May 19, 2026 (GLOBE NEWSWIRE) -- GDEV Inc. (NASDAQ: GDEV), an international gaming and entertainment company (“GDEV” or the “Company”) released its unaudited financial and operational results for the three-month period ended March 31, 2026. First quarter 2026 financial highlights: Revenue of $99 million increased by 2% year-over-year. Selling and marketing expenses of $37 million decreased by 13% year-over-year. Profit for the period, net of tax, of $17 million in Q1 2026 increased vs. $14 million in Q1 2025. Adjusted EBITDA1 of $18 million in Q1 2026 increased vs. $16 million in Q1 2025. First quarter of 2026 financial performance in comparison First quarter 2026 financial performance In the first quarter of 2026, our revenue increased by $2 million (or 2%) year-over-year and amounted to $99 million. The increase was primarily driven by an increase in in-app purchases made by players. Platform commissions remained stable at $20 million in the first quarter of 2026 vs. 2025. Game operation costs remained stable at $14 million in the first quarter of 2026 vs. 2025. Selling and marketing expenses in the first quarter of 2026 decreased by $5 million vs. the same period in 2025, amounting to $37 million. This decrease is driven by our continued focus on improving the efficiency of user acquisition activities. The decrease reflects a more selective approach to performance marketing, prioritizing channels that attract players with higher long-term value over broad-scale campaigns aimed at short-term growth. General and administrative expenses increased by $2 million in the first quarter of 2026 vs. the same period of prior year and amounted to $10 million primarily due to increase in legal expenses. As a result of the factors above, together with the effect of the net foreign exchange loss in the first quarter of 2026 in the amount of $1 million vs. the net foreign exchange gain in the amount of $1 million in the same period of prior year, we recorded a profit for the period, net of tax, of $17 million in the first quarter of 2026 compared with $14 million in the same period of 2025. Adjusted EBITDA in the first quarter of 2026 amounted to $18 million, an increase of $2 million compared with the same period in 2025 driven primarily by the same factors as those affecting the profit. Cash flows generated from operating activities were positive $4 million in the first quarter of 2026 compared with positive $6 million in the same period in 2025. __________________________________1 For more information, see section titled “Presentation of Non-IFRS Financial Measures” on the last two pages of this report, including the reconciliation of the profit for the period, net of tax to the Adjusted EBITDA. First quarter 2026 operational performance comparison Bookings increased in the first quarter of 2026 to reach $83 million compared with $81 million in the same period in 2025. The increase was primarily due to an increase in ABPPU of 8% partially offset by a decrease in MPU of 5% in the first quarter of 2026 as compared with the same period of prior year. The share of advertisement sales as a percentage of total bookings remained relatively stable at 5.8% in the first quarter of 2026 vs. 5.9% in the respective period in 2025. In the first quarter of 2026 we recorded an increase in share of mobile to reach 64% vs. 59% in the same period in 2025 and a corresponding decrease in share of PC which was fell to 36% vs. 41% in the same period in 2025. Our split of bookings by geography in the first quarter of 2026 vs. the same period in 2025 saw a decrease in the share of bookings derived from the US and Asia and an increase in bookings derived from Europe and Other. Note: Due to rounding, the numbers presented throughout this release may not precisely add up to the totals. The period-over-period percentage changes are based on the actual numbers and may therefore differ from the percentage changes if those were to be calculated based on the rounded numbers. About GDEV GDEV is a gaming and entertainment holding company, focused on development and growth of its franchise portfolio across various genres and platforms. With a diverse range of subsidiaries including Nexters and Cubic Games, among others, GDEV strives to create games that will inspire and engage millions of players for years to come. Its franchises, such as Hero Wars, Island Hoppers, Pixel Gun 3D and others have accumulated over 550 million installs and $2.5 billion of bookings worldwide. For more information, please visit www.gdev.inc Contacts: Investor RelationsRoman Safiyulin | Chief Corporate Development [email protected] Cautionary statement regarding forward-looking statements Certain statements in this press release may constitute “forward-looking statements” for purposes of the federal securities laws. Such statements are based on current expectations that are subject to risks and uncertainties. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The forward-looking statements contained in this press release are based on the Company’s current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting the Company will be those that the Company has anticipated. Forward-looking statements involve a number of risks, uncertainties (some of which are beyond the Company’s control) or other assumptions. You should carefully consider the risks and uncertainties described in the “Risk Factors” section of the Company’s 2025 Annual Report on Form 20-F, filed by the Company on March 31, 2026, and other documents filed by the Company from time to time with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should any of the Company’s assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Presentation of Non-IFRS Financial Measures In addition to the results provided in accordance with IFRS throughout this press release, the Company has provided the non-IFRS financial measure “Adjusted EBITDA” (the “Non-IFRS Financial Measure”). The Company defines Adjusted EBITDA as the profit/loss for the period, net of tax as presented in the Company’s financial statements in accordance with IFRS, adjusted to exclude (i) goodwill and investments in equity-accounted associates’ impairment, (ii) loss on disposal of subsidiaries, (iii) income tax expense, (iv) other financial income, finance income and expenses other than foreign exchange gains and losses and bank charges, (v) change in fair value of share warrant obligations and other financial instruments, (vi) share of loss of equity-accounted associates, (vii) depreciation and amortization, (viii) share-based payments expense and (ix) certain non-cash or other special items that we do not consider indicative of our ongoing operating performance. The Company uses this Non-IFRS Financial Measure for business planning purposes and in measuring its performance relative to that of its competitors. The Company believes that this Non-IFRS Financial Measure is a useful financial metric to assess its operating performance from period-to-period by excluding certain items that the Company believes are not representative of its core business. This Non-IFRS Financial Measure is not intended to replace, and should not be considered superior to, the presentation of the Company’s financial results in accordance with IFRS. The use of the Non-IFRS Financial Measure terms may differ from similar measures reported by other companies and may not be comparable to other similarly titled measures. Reconciliation of the profit for the period, net of tax to the Adjusted EBITDA __________________________________2 Adjusted finance income/expenses consist of finance income and expenses other than foreign exchange gains and losses and bank charges, net.

LIMASSOL, Cyprus, March 05, 2026 (GLOBE NEWSWIRE) -- GDEV Inc. (NASDAQ: GDEV), an international gaming and entertainment company (“GDEV” or the “Company”) released its preliminary, unaudited financial and operational results for the fourth quarter and twelve months ended December 31, 2025. Fourth quarter 2025 financial highlights: Revenue of $90 million decreased by 8% year-over-year. Selling and marketing expenses of $35 million decreased by 25% year-over-year. Profit for the period, net of tax, of $14 million in Q4 2025 increased vs. $2 million in Q4 2024. Adjusted EBITDA1 of $15 million in Q4 2025 increased vs. $9 million in Q4 2024. Fourth quarter and twelve months 2025 financial performance in comparison Fourth quarter 2025 financial performance In the fourth quarter of 2025 our revenue decreased by $8 million (or 8%) year-over-year and amounted to $90 million, reflecting a decline in recognition of revenue from both current-period and prior-period bookings. This was mainly due to declining consumer spending levels in the current and preceding years, which reduced the amount of revenue recognized during the quarter. The decrease is consistent with our strategy to pursue more disciplined marketing spending and focus on attracting higher-quality, better-paying users rather than maximizing short-term volume. Platform commissions decreased by $3 million (or 13%) in the fourth quarter of 2025 to reach $18 million, generally proportionate to the decrease in revenues. Game operation cost increased by $2 million in the fourth quarter of 2025 and amounted to $15 million, mainly driven by an increase in investments in our IT infrastructure. Selling and marketing expenses decreased by $12 million in the fourth quarter of 2025, amounting to $35 million. This decrease was driven by our continued focus on improving the efficiency of user acquisition activities. The decrease reflects a more selective approach to performance marketing, prioritizing channels that attract players with higher long-term value over broadscale campaigns aimed at short-term growth. General and administrative expenses remained relatively stable at $9 million in the fourth quarter of 2025 vs. $8 million in the fourth quarter of 2024. We recorded a profit for the period, net of tax, of $14 million in the fourth quarter of 2025 compared with $2 million in the same period of 2024, driven primarily by the factors above and i.) decrease of net financial expenses in Q4 2025 vs Q4 2024 in the amount of $3 million and ii.) decrease of share of loss of equity accounted associates by $6 million in Q4 2025 as compared with the same period of prior year. Adjusted EBITDA amounted to $15 million in the fourth quarter of 2025, an increase of $6 million compared with the same period in 2024 driven primarily by the same factors as those affecting the profit, except for the decrease of share of loss of equity accounted associates, which does not impact Adjusted EBITDA. Cash flows generated from operating activities were positive $18 million in the fourth quarter of 2025 compared with positive $5 million in the same period in 2024. Twelve months 2025 financial performance In the year ended December 31, 2025, our revenue decreased by $17 million (or 4%) year-over-year and amounted to $404 million, reflecting a decline in recognition of revenue from both current-period and prior-period bookings. This was mainly due to declining consumer spending levels in the current and preceding years, which reduced the amount of revenue recognized during the year. The decrease is consistent with our strategy to pursue more disciplined marketing spending and focus on attracting higher-quality, better-paying users rather than maximizing short-term volume. Platform commissions decreased by $7 million (or 7%) in the year ended December 31, 2025 to reach $85 million, generally proportionate to the decrease in revenues. Game operation cost increased by $6 million in the year ended December 31, 2025 and amounted to $57 million, mainly driven by an increase in investments in our IT infrastructure. Selling and marketing expenses decreased by $50 million in the year ended December 31, 2025, amounting to $159 million. This decrease was driven by our continued focus on improving the efficiency of user acquisition activities. The decrease reflects a more selective approach to performance marketing, prioritizing channels that attract players with higher long-term value over broadscale campaigns aimed at short-term growth. General and administrative expenses increased by $3 million in the year ended December 31, 2025 and amounted to $35 million vs. $32 million in the year ended December 31, 2024. The increase was primarily driven by higher salary and related personnel expenses, reflecting the expansion of development activities and increased scale of operations across our game development studios. We recorded a profit for the period, net of tax, of $69 million in the year ended December 31, 2025 compared with $26 million in the same period of 2024, driven primarily by the factors above and i.) decrease of net financial expenses in the year ended December 31 2025 vs the same period in 2024 in the amount of $7 million, ii.) increase in gain resulted from the change in fair value of share warrant obligation and other financial instruments by $3 million in the year ended December 31 2025 as compared with the same period of prior year and iii.) decrease of share of loss of equity accounted associates by $4 million in the year ended December 31, 2025 as compared with the same period of prior year. Adjusted EBITDA amounted to $79 million in the year ended December 31, 2025, an increase $37 million compared with the same period in 2024 driven primarily by the same factors as those affecting the profit, except for the increase in gain resulted from the change in fair value of share warrant obligation and other financial instruments and the decrease of share of loss of equity accounted associates, which do not impact Adjusted EBITDA. Cash flows generated from operating activities remained the same, at $29 million, in the year ended December 31, 2025 vs. the same period of 2024. The divergence in earnings and cash flow dynamics reflects the significant impact of deferred revenue recognition on current-period income, which did not have a material effect on current-period cash flows. Fourth quarter and twelve months 2025 operational performance comparison Bookings declined in the fourth quarter and twelve months of 2025 to reach $88 million and $351 million, respectively, compared with $94 million and $404 million in the same period in 2024. The decline is primarily due to a decline in monthly paying users by 10% in the fourth quarter of 2025 vs. the same period in 2024 and by 18% in the year ended December 31, 2025 vs. the same period in 2024, which we attribute to the decrease of the user acquisition investments throughout 2024 and 2025, partially offset by an increase in ABPPU. The share of advertisement sales as a percentage of total bookings decreased in the fourth quarter of 2025 to reach 5.1% compared to 5.8% in the same respective period in 2024 and decreased in the year ended December 31, 2025 to reach 5.7% compared to 6.7% in the same period in 2024. This decline was primarily driven by a global trend of declining CPM rates for advertising throughout 2024 and 2025. In the fourth quarter of 2025 we recorded an increase in share of mobile to reach 58% vs. 57% in the same period in 2024 and decrease in share of PC to reach 42% vs. 43% in the same period in 2024. In the year ended December 31, 2025 the share in mobile and PC remained the same compared to same period in 2024. Our split of bookings by geography in the fourth quarter and twelve months of 2025 vs. the same respective periods in 2024 saw a decrease in the share of bookings derived from the US and Asia and an increase in bookings derived from Europe and Other. Note: Due to rounding, the numbers presented throughout this release may not precisely add up to the totals. The period-over-period percentage changes are based on the actual numbers and may therefore differ from the percentage changes if those were to be calculated based on the rounded numbers. The figures in this release are preliminary and unaudited. The Company’s 2025 Annual Report on Form 20-F, which will include the Company’s audited financial statements as of for the year ended December 31, 2025, is expected to be published within the prescribed filing period. About GDEV GDEV is a gaming and entertainment holding company, focused on development and growth of its franchise portfolio across various genres and platforms. With a diverse range of subsidiaries including Nexters and Cubic Games, among others, GDEV strives to create games that will inspire and engage millions of players for years to come. Its franchises, such as Hero Wars, Island Hoppers, Pixel Gun 3D and others have accumulated over 550 million installs and more than $2.5 billion of bookings worldwide. For more information, please visit www.gdev.inc. Contacts: Investor Relations Roman Safiyulin | Chief Corporate Development Officer [email protected] Cautionary statement regarding forward-looking statements Certain statements in this press release may constitute “forward-looking statements” for purposes of the federal securities laws. Such statements are based on current expectations that are subject to risks and uncertainties. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The forward-looking statements contained in this press release are based on the Company’s current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting the Company will be those that the Company has anticipated. Forward-looking statements involve a number of risks, uncertainties (some of which are beyond the Company’s control) or other assumptions. You should carefully consider the risks and uncertainties described in the “Risk Factors” section of the Company’s 2024 Annual Report on Form 20-F, filed by the Company on March 31, 2025, and other documents filed by the Company from time to time with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should any of the Company’s assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Presentation of Non-IFRS Financial Measures In addition to the results provided in accordance with IFRS throughout this press release, the Company has provided the non-IFRS financial measure “Adjusted EBITDA” (the “Non-IFRS Financial Measure”). The Company defines Adjusted EBITDA as the profit/loss for the period, net of tax as presented in the Company's financial statements in accordance with IFRS, adjusted to exclude (i) goodwill and investments in equity-accounted associates' impairment, (ii) loss on disposal of subsidiaries, (iii) income tax expense, (iv) other financial income, finance income and expenses other than foreign exchange gains and losses and bank charges, (v) change in fair value of share warrant obligations and other financial instruments, (vi) share of loss of equity-accounted associates, (vii) depreciation and amortization, (viii) share-based payments expense and (ix) certain non-cash or other special items that we do not consider indicative of our ongoing operating performance. The Company uses this Non-IFRS Financial Measure for business planning purposes and in measuring its performance relative to that of its competitors. The Company believes that this Non-IFRS Financial Measure is a useful financial metric to assess its operating performance from period-to-period by excluding certain items that the Company believes are not representative of its core business. This Non-IFRS Financial Measure is not intended to replace, and should not be considered superior to, the presentation of the Company’s financial results in accordance with IFRS. The use of the Non-IFRS Financial Measure terms may differ from similar measures reported by other companies and may not be comparable to other similarly titled measures. Reconciliation of the profit for the period, net of tax to the Adjusted EBITDA ______________________________ 1 For more information, see section titled “Presentation of Non-IFRS Financial Measures” on the last two pages of this report, including the reconciliation of the profit for the period, net of tax to the Adjusted EBITDA. 2 The financial information presented for the comparative periods of 2024 may not reconcile exactly with the amounts previously published for those periods. This is due to the reclassification of the Impairment loss on loan receivables from Royal Ark to the Share of loss of equity-accounted associates line. 3 Adjusted finance income/expenses consist of finance income and expenses other than foreign exchange gains and losses and bank charges, net.

LIMASSOL, Cyprus, Nov. 24, 2025 (GLOBE NEWSWIRE) -- GDEV Inc. (NASDAQ: GDEV), an international gaming and entertainment company (“GDEV” or the “Company”), released its unaudited financial and operational results for the third quarter and first nine months ended September 30, 2025. Third quarter 2025 financial highlights: Revenue of $98 million decreased by 12% year-over-year. Selling and marketing expenses of $30 million decreased by 43% year-over-year. Profit for the period, net of tax, of $24 million in Q3 2025 increased vs. $15 million in Q3 2024. Adjusted EBITDA1 of $26 million in Q3 2025 increased vs. $17 million in Q3 2024. Third quarter and first nine months of 2025 financial performance in comparison ________________________ N/M: not meaningful Third quarter 2025 financial performance In the third quarter of 2025, our revenue decreased by $13 million (or 12%) year-over-year and amounted to $98 million, reflecting a decline in recognition of revenue from both current-period and prior-period bookings. This was mainly due to declining consumer spending levels in the current and preceding years, which reduced the amount of revenue recognized during the quarter. The decrease is consistent with our strategy to pursue more disciplined marketing spending and focus on attracting higher-quality, better-paying users rather than maximizing short-term volume. Platform commissions decreased by $3 million (or 13%) in the third quarter of 2025 compared to the same period in 2024 in line with the decrease in revenues. Game operation cost remained relatively stable at the level of $14 million in the third quarter of 2025 vs. $13 million in the third quarter of 2024. Selling and marketing expenses in the third quarter of 2025 decreased by $22 million vs. the same period in 2024, amounting to $30 million. This decrease is driven by our continued focus on improving the efficiency of user acquisition activities. The decrease reflects a more selective approach to performance marketing, prioritizing channels that attract players with higher long-term value over broad-scale campaigns aimed at short-term growth. General and administrative expenses remained relatively stable at $8 million in the third quarter of 2025 vs. $7 million in the third quarter of 2024. As a result of the factors above we recorded a profit for the period, net of tax, of $24 million in the third quarter of 2025 compared with $15 million in the same period of 2024. Adjusted EBITDA in the third quarter of 2025 amounted to $26 million, an increase of $9 million compared with the same period in 2024 driven primarily by the same factors as those affecting the profit. Cash flows generated from operating activities were positive $15 million in the third quarter of 2025 compared with positive $12 million in the same period in 2024. Third quarter and first nine months 2025 operational performance comparison Bookings declined in the third quarter of 2025 to reach $90 million compared with $93 million in the same period in 2024. The decline is primarily due to a decline in monthly paying users by 16% in the third quarter of 2025 vs. the same period in 2024 which we attribute to the decrease of the user acquisition activities throughout 2024 and 2025, partially offset by an increase in ABPPU. The share of advertisement sales as a percentage of total bookings decreased in the third quarter of 2025 to reach 6.0% compared to 7.1% in the respective period in 2024. This decline was primarily driven by a global trend of declining CPM rates for advertising throughout 2024 and 2025. In the third quarter of 2025 we recorded a decrease in share of mobile to reach 59% vs 62% in the same period in 2024 and increase in share of PC to reach 41% vs 38% in the same period in 2024. Our split of bookings by geography in the third quarter of 2025 vs. the same period in 2024 remained broadly similar, with a small decrease in the share of bookings in US and Asia and a small increase in bookings in Europe. Note: Due to rounding, the numbers presented throughout this release may not precisely add up to the totals. The period-over-period percentage changes are based on the actual numbers and may therefore differ from the percentage changes if those were to be calculated based on the rounded numbers. About GDEV GDEV is a gaming and entertainment holding company, focused on development and growth of its franchise portfolio across various genres and platforms. With a diverse range of subsidiaries including Nexters and Cubic Games, among others, GDEV strives to create games that will inspire and engage millions of players for years to come. Its franchises, such as Hero Wars, Island Hoppers, Pixel Gun 3D and others have accumulated over 550 million installs and $2.5 billion of bookings worldwide. For more information, please visit www.gdev.inc Contacts: Investor Relations Roman Safiyulin | Chief Corporate Development Officer [email protected] Cautionary statement regarding forward-looking statements Certain statements in this press release may constitute “forward-looking statements” for purposes of the federal securities laws. Such statements are based on current expectations that are subject to risks and uncertainties. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The forward-looking statements contained in this press release are based on the Company’s current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting the Company will be those that the Company has anticipated. Forward-looking statements involve a number of risks, uncertainties (some of which are beyond the Company’s control) or other assumptions. You should carefully consider the risks and uncertainties described in the “Risk Factors” section of the Company’s 2024 Annual Report on Form 20-F, filed by the Company on March 31, 2025, and other documents filed by the Company from time to time with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should any of the Company’s assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Presentation of Non-IFRS Financial Measures In addition to the results provided in accordance with IFRS throughout this press release, the Company has provided the non-IFRS financial measure “Adjusted EBITDA” (the “Non-IFRS Financial Measure”). The Company defines Adjusted EBITDA as the profit/loss for the period, net of tax as presented in the Company’s financial statements in accordance with IFRS, adjusted to exclude (i) goodwill and investments in equity-accounted associates’ impairment, (ii) loss on disposal of subsidiaries, (iii) income tax expense, (iv) other financial income, finance income and expenses other than foreign exchange gains and losses and bank charges, (v) change in fair value of share warrant obligations and other financial instruments, (vi) share of loss of equity-accounted associates, (vii) depreciation and amortization, (viii) share-based payments expense and (ix) certain non-cash or other special items that we do not consider indicative of our ongoing operating performance. The Company uses this Non-IFRS Financial Measure for business planning purposes and in measuring its performance relative to that of its competitors. The Company believes that this Non-IFRS Financial Measure is a useful financial metric to assess its operating performance from period-to-period by excluding certain items that the Company believes are not representative of its core business. This Non-IFRS Financial Measure is not intended to replace, and should not be considered superior to, the presentation of the Company’s financial results in accordance with IFRS. The use of the Non-IFRS Financial Measure terms may differ from similar measures reported by other companies and may not be comparable to other similarly titled measures. Reconciliation of the profit for the period, net of tax to the Adjusted EBITDA ________________________ 1 For more information, see section titled “Presentation of Non-IFRS Financial Measures” on the last two pages of this report, including the reconciliation of the profit for the period, net of tax to the Adjusted EBITDA. 2 Profit for 9M 2024 was restated due to correction of an error in the treatment of an expired put option liability. The amount previously recorded as other financial income was reclassified to equity under IAS 32, reducing profit from $28 million to $24 million. 3 The financial information presented for the comparative periods of 2024 may not reconcile exactly with the amounts previously published for those periods. This is due to the reclassification of the Impairment loss on loan receivables from Royal Ark to the Share of loss of equity-accounted associates line. 4 Adjusted finance income/expenses consist of finance income and expenses other than foreign exchange gains and losses and bank charges, net.

LIMASSOL, Cyprus, Sept. 02, 2025 (GLOBE NEWSWIRE) -- GDEV Inc. (NASDAQ: GDEV), an international gaming and entertainment company (“GDEV” or the “Company”), released its financial and operational results for the second quarter and first half-year ended June 30, 2025. Second quarter 2025 financial highlights: Revenue of $120 million increased by 13% year-over-year. Selling and marketing expenses of $53 million increased by 11% year-over-year driven by a testing of new areas in our performance marketing. Profit for the period, net of tax, of $17 million in Q2 2025 increased vs. $15 million in Q2 2024. Adjusted EBITDA1 of $22 million increased vs. $17 million in Q2 2024. Strong cash position of $932 million provides substantial resources for potential future strategic investments. Second quarter and first half of 2025 financial performance in comparison ____________ 1 For more information, see section titled “Presentation of Non-IFRS Financial Measures” on the last two pages of this report, including the reconciliation of the profit for the period, net of tax to the Adjusted EBITDA. 2 The amounts include investments in liquid high quality securities. N/M: not meaningful Second quarter 2025 financial performance In the second quarter of 2025, our revenue increased by $14 million (or 13%) year-over-year to reach $120 million. This increase was primarily driven by an increase in the consumable portion of in-app purchases s made by players in the second quarter of 2025 partially offset by a decrease in advertising bookings. Platform commissions increased by $2 million (or 10%) in the second quarter of 2025 compared to the same period in 2024 in line with the increase in revenues. Game operation cost remained relatively stable at the level of $14 million in the second quarter of 2025 vs. $13 million in the second quarter of 2024. Selling and marketing expenses in the second quarter of 2025 increased by $5 million vs. the same period in 2024, amounting to $53 million. The increase is attributable to tests in our performance marketing approach. General and administrative expenses remained stable at $9 million in the second quarters of both 2025 and 2024. As a result of the factors above we recorded a profit for the period, net of tax, of $17 million compared with $15 million in the same period of 2024. Adjusted EBITDA in the second quarter of 2025 amounted to $22 million, an increase of $5 million compared with the same period in 2024. Cash flows generated from operating activities were negative $10 million in the second quarter of 2025 compared with positive $11 million in the same period in 2024 primarily due to decrease in bookings and increase in marketing expenses. First half 2025 financial performance In the first half of 2025, our revenue increased by $4 million (or 2%) year-over-year to $217 million. This increase was primarily driven by an increase in the consumable portion of in-app purchases made by users in the first half of 2025 partially offset by a decrease in advertising bookings. Platform commissions decreased by $0.7 million (or 2%) in the first half of 2025 compared to the same period in 2024, driven by an increase of revenues recognized from PC platforms, where we enjoy lower commissions. Game operation cost increased to the level of $28 million in the first half of 2025 vs. $25 million in the first half of 2024, mainly driven by an increase in investments in our IT infrastructure. Selling and marketing expenses in the first half of 2025 decreased by $16 million vs. the same period in 2024, amounting to $95 million. The decrease is due to revising our approach and scaling down on UA spending with focus on efficiency rather than scale partially offset by an increase in expenses driven by a testing of new areas in our performance marketing. General and administrative expenses remained relatively stable at $17 million in the first half of 2025 vs. $16 million in 2024. As a result of the factors above (together with net finance income in the first half of 2025 of $3 million vs. net finance expenses in the same period in 2024 of $2 million), we recorded a profit for the period, net of tax, of $31 million compared with $9 million in the same period of 2024. Adjusted EBITDA in the first half of 2025 amounted to $38 million, an increase of $22 million compared with the same period in 2024. Cash flows generated from operating activities were negative $4 million in the first half of 2025 compared with positive $12 million in the same period in 2024 mainly due to a decrease in bookings partially offset by a decrease in marketing expenses. Second quarter and first half 2025 operational performance comparison Bookings declined in the second quarter and first half of 2025 to reach $92 million and $173 million respectively compared with $108 million and $216 million in the same periods in 2024. The decline is primarily due to a decline in monthly paying users by 18% and 26% in the second quarter and first half of 2025 respectively vs. the same periods in 2024 due to the decrease of the user acquisition expenses throughout 2024 and first half of 2025. The share of advertisement sales as a percentage of total bookings decreased in the second quarter and first half of 2025 to reach 5.9% compared to 6.2% and 6.9% in the same periods in 2024. This decline was primarily driven by a global trend of declining CPM rates for advertising throughout 2024 and 2025. In the first half of 2025, the share of mobile and PC versions of our games remained relatively stable while in the second quarter of 2025 we recorded an increase in share of mobile to reach 63% vs 58% compared with the same period in 2024. Our split of bookings by geography in the second quarter and first half of 2025 vs. the same periods in 2024 remained broadly similar, with a small decrease in the share of bookings in Asia and a small increase in bookings in Europe. Note: Due to rounding, the numbers presented throughout this release may not precisely add up to the totals. The period-over-period percentage changes are based on the actual numbers and may therefore differ from the percentage changes if those were to be calculated based on the rounded numbers. About GDEV GDEV is a gaming and entertainment holding company, focused on development and growth of its franchise portfolio across various genres and platforms. With a diverse range of subsidiaries including Nexters and Cubic Games, among others, GDEV strives to create games that will inspire and engage millions of players for years to come. Its franchises, such as Hero Wars, Island Hoppers, Pixel Gun 3D and others have accumulated over 550 million installs and $2.5 billion of bookings worldwide. For more information, please visit www.gdev.inc Contacts: Investor Relations Roman Safiyulin | Chief Corporate Development Officer [email protected] Cautionary statement regarding forward-looking statements Certain statements in this press release may constitute “forward-looking statements” for purposes of the federal securities laws. Such statements are based on current expectations that are subject to risks and uncertainties. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The forward-looking statements contained in this press release are based on the Company’s current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting the Company will be those that the Company has anticipated. Forward-looking statements involve a number of risks, uncertainties (some of which are beyond the Company’s control) or other assumptions. You should carefully consider the risks and uncertainties described in the “Risk Factors” section of the Company’s 2024 Annual Report on Form 20-F, filed by the Company on March 31, 2025, and other documents filed by the Company from time to time with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should any of the Company’s assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Presentation of Non-IFRS Financial Measures In addition to the results provided in accordance with IFRS throughout this press release, the Company has provided the non-IFRS financial measure “Adjusted EBITDA” (the “Non-IFRS Financial Measure”). The Company defines Adjusted EBITDA as the profit/loss for the period, net of tax as presented in the Company's financial statements in accordance with IFRS, adjusted to exclude (i) goodwill and investments in equity accounted associates' impairment, (ii) loss on disposal of subsidiaries, (iii) income tax expense, (iv) other financial income, finance income and expenses other than foreign exchange gains and losses and bank charges, (v) change in fair value of share warrant obligations and other financial instruments, (vi) share of loss of equity-accounted associates, (vii) depreciation and amortization, (viii) share-based payments expense and (ix) certain non-cash or other special items that we do not consider indicative of our ongoing operating performance. The Company uses this Non-IFRS Financial Measure for business planning purposes and in measuring its performance relative to that of its competitors. The Company believes that this Non-IFRS Financial Measure is a useful financial metric to assess its operating performance from period-to-period by excluding certain items that the Company believes are not representative of its core business. This Non-IFRS Financial Measure is not intended to replace, and should not be considered superior to, the presentation of the Company’s financial results in accordance with IFRS. The use of the Non-IFRS Financial Measure terms may differ from similar measures reported by other companies and may not be comparable to other similarly titled measures. Reconciliation of the profit for the period, net of tax to the Adjusted EBITDA

LIMASSOL, Cyprus, May 16, 2025 (GLOBE NEWSWIRE) -- GDEV Inc. (NASDAQ: GDEV), an international gaming and entertainment company (“GDEV” or the “Company”) released its financial and operational results for the first quarter ended March 31, 2025. First quarter 2025 financial highlights: 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 EBITDA1 of $16 million increased vs. loss of $0.9 million in Q1 2024. Average Bookings Per Paying User (ABPPU) 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. Cash flows from operating activities remained positive at $6 million, supporting our strong liquidity position of $102 million2 and providing substantial resources for potential future strategic investments3. First quarter of 2025 financial performance in comparison N/M: not meaningful First quarter 2025 financial performance In the first quarter of 2025, our revenue declined by $10 million (or 9%) year-over-year to $97 million. This decline was primarily driven by a $5 million reduction in revenue recognized from bookings made in prior periods, as a larger portion of historical bookings contributed to revenue in the first quarter of 2024 than in the first quarter of 2025, amplified by a decrease in the portion of revenue recognized from current-quarter bookings, reflecting a $28 million decrease in bookings in the first quarter of 2025 compared with the same period in 2024. Platform commissions decreased by $3 million (or 13%) in the first quarter of 2025 compared to the same period in 2024, driven by a 6% decrease in revenues generated from in-game purchases, and amplified by growth of revenues derived from PC platforms which are associated with lower commissions. 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. General and administrative expenses remained stable at $8 million in the first quarters of both 2025 and 2024. As a result of the factors above (together with net finance income in the first quarter of 2025 of $2 million vs. net finance expenses in the same period in 2024 of $2 million and share of loss of equity-accounted associates of $2 million in the first quarter of 2024 vs nil in the same period in 2025), we recorded a profit for the period, net of tax, of $14 million compared with loss of $5 million in the same period of 2024. Adjusted EBITDA in the first quarter of 2025 amounted to $16 million, an increase of $17 million compared with the same period in 2024. Cash flows generated from operating activities were $6 million in the first quarter of 2025 compared with $0.4 million in the same period in 2024. First quarter 2025 operational performance comparison Bookings declined in the first quarter of 2025 to reach $81 million compared with $109 million in the same period in 2024. The decline is primarily due to a decline in monthly paying users by 26% in the first quarter of 2025 vs. the same period in 2024, which we primarily attribute to the shift in our user acquisition strategy in 2024, focused on enhancing efficiency and decreasing selling and marketing expenses. The share of advertisement sales as a percentage of total bookings decreased in the first quarter of 2025 to reach 5.9% compared to 7.7% in the same period in 2024. This decline was primarily driven by a global trend of declining CPM rates for advertising throughout 2024 and 2025. In the first quarter of 2025, the share of mobile and PC versions of our games remained relatively stable compared with the same period in 2024. Our split of bookings by geography in the first quarter of 2025 vs. the same period in 2024 remained broadly similar, with a small decrease in the share of Asia bookings and a small increase in Europe bookings. Note: Due to rounding, the numbers presented throughout this release may not precisely add up to the totals. The period-over-period percentage changes are based on the actual numbers and may therefore differ from the percentage changes if those were to be calculated based on the rounded numbers. About GDEV GDEV is a gaming and entertainment holding company, focused on development and growth of its franchise portfolio across various genres and platforms. With a diverse range of subsidiaries including Nexters and Cubic Games, among others, GDEV strives to create games that will inspire and engage millions of players for years to come. Its franchises, such as Hero Wars, Island Hoppers, Pixel Gun 3D and others have accumulated over 550 million installs and $2.5 billion of bookings worldwide. For more information, please visit www.gdev.inc Contacts: Investor RelationsRoman Safiyulin | Chief Corporate Development [email protected] Cautionary statement regarding forward-looking statements Certain statements in this press release may constitute “forward-looking statements” for purposes of the federal securities laws. Such statements are based on current expectations that are subject to risks and uncertainties. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The forward-looking statements contained in this press release are based on the Company’s current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting the Company will be those that the Company has anticipated. Forward-looking statements involve a number of risks, uncertainties (some of which are beyond the Company’s control) or other assumptions. You should carefully consider the risks and uncertainties described in the “Risk Factors” section of the Company’s 2024 Annual Report on Form 20-F, filed by the Company on March 31, 2025, and other documents filed by the Company from time to time with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should any of the Company’s assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Presentation of Non-IFRS Financial Measures In addition to the results provided in accordance with IFRS throughout this press release, the Company has provided the non-IFRS financial measure “Adjusted EBITDA” (the “Non-IFRS Financial Measure”). The Company defines Adjusted EBITDA as the profit/loss for the period, net of tax as presented in the Company's financial statements in accordance with IFRS, adjusted to exclude (i) goodwill and investments in equity accounted associates' impairment, (ii) loss on disposal of subsidiaries, (iii) income tax expense, (iv) other financial income, finance income and expenses other than foreign exchange gains and losses and bank charges, (v) change in fair value of share warrant obligations and other financial instruments, (vi) share of loss of equity-accounted associates, (vii) depreciation and amortization, (viii) share-based payments expense and (ix) certain non-cash or other special items that we do not consider indicative of our ongoing operating performance. The Company uses this Non-IFRS Financial Measure for business planning purposes and in measuring its performance relative to that of its competitors. The Company believes that this Non-IFRS Financial Measure is a useful financial metric to assess its operating performance from period-to-period by excluding certain items that the Company believes are not representative of its core business. This Non-IFRS Financial Measure is not intended to replace, and should not be considered superior to, the presentation of the Company’s financial results in accordance with IFRS. The use of the Non-IFRS Financial Measure terms may differ from similar measures reported by other companies and may not be comparable to other similarly titled measures. Reconciliation of the profit for the period, net of tax to the Adjusted EBITDA _________________________ 1 For more information, see section titled “Presentation of Non-IFRS Financial Measures” on the last two pages of this report, including the reconciliation of the profit for the period, net of tax to the Adjusted EBITDA.2 The amounts include cash and investments in high-quality liquid securities.3 On March 11, 2025 the Company paid a one-time, nonrecurring special cash dividend of $3.31 per share, representing an aggregate cash outflow of approximately $56 million, with an additional $4 million remaining unpaid and classified as a current liability as at the date of this press release due to legal constraints.4 Certain numbers presented for Q1 2024 may not reconcile to those previously released due to the correction of an error related to the reclassification of income from the write-off of a put option liability and the reclassification of certain amount between the impairment loss on trade and loan receivables and change in fair value of loans receivable and the share of loss of equity-accounted associates. As a result, the Q1 2024 figures presented herein reflect the corrected classification. For additional information, please refer to Note 33 of the Company’s consolidated financial statements, filed with the Securities and Exchange Commission on March 31, 2025.5 Final bookings data have been used to update the geographic and platform breakdowns initially published with our preliminary Q1 2024 results.6 Final bookings data have been used to update the geographic and platform breakdowns initially published with our preliminary Q1 2024 results.7 Adjusted finance income/expenses consist of finance income and expenses other than foreign exchange gains and losses and bank charges, net.

GDEV Inc. (NASDAQ:GDEV) shareholders are doubtless heartened to see the share price bounce 32% in just one week. But that doesn't change the fact that the returns over the last year have been less than pleasing. In fact the stock is down 45% in the last year, well below the market return. The recent uptick of 32% could be a positive sign of things to come, so let's take a look at historical fundamentals. Our free stock report includes 3 warning signs investors should be aware of before investing in GDEV. Read for free now. In his essay The Superinvestors of Graham-and-Doddsville Warren Buffett described how share prices do not always rationally reflect the value of a business. By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time. Unhappily, GDEV had to report a 40% decline in EPS over the last year. We note that the 45% share price drop is very close to the EPS drop. So it seems that the market sentiment has not changed much, despite the weak results. Rather, the share price has approximately tracked EPS growth. You can see below how EPS has changed over time (discover the exact values by clicking on the image). It is of course excellent to see how GDEV has grown profits over the years, but the future is more important for shareholders. If you are thinking of buying or selling GDEV stock, you should check out this FREE detailed report on its balance sheet. It is important to consider the total shareholder return, as well as the share price return, for any given stock. Whereas the share price return only reflects the change in the share price, the TSR includes the value of dividends (assuming they were reinvested) and the benefit of any discounted capital raising or spin-off. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. As it happens, GDEV's TSR for the last 1 year was -33%, which exceeds the share price return mentioned earlier. And there's no prize for guessing that the dividend payments largely explain the divergence! While GDEV shareholders are down 33% for the year (even including dividends), the market itself is up 7.4%. However, keep in mind that even the best stocks will sometimes underperform the market over a twelve month period. Notably, the loss over the last year isn't as bad as the 34% drop in the last three months. This probably signals that the business has recently disappointed shareholders - it will take time to win them back. While it is well worth considering the different impacts that market conditions can have on the share price, there are other factors that are even more important. Case in point: We've spotted 3 warning signs for GDEV you should be aware of, and 2 of them are concerning. But note: GDEV may not be the best stock to buy. So take a peek at this free list of interesting companies with past earnings growth (and further growth forecast). Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on American exchanges. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

LIMASSOL, Cyprus, March 31, 2025 (GLOBE NEWSWIRE) -- GDEV Inc. (NASDAQ: GDEV), an international gaming and entertainment company (“GDEV” or the “Company”), released its financial and operational results for the fourth quarter and full year ended December 31, 2024. Fourth quarter 2024 financial highlights: Revenue of $98 million declined by 12% quarter-over-quarter and 11% year-over-year. Selling and marketing expenses of $47 million declined by 14% year-over-year driven by a shift in our user acquisition strategy to focus on higher margin audience. We continue to adhere to our disciplined approach towards costs: game operation cost declined by 5% year-over-year, enhancing our operating margins. Profit for the period, net of tax, of $2 million in Q4 2024 decreased vs. $11 million in Q4 2023, mostly due to the increase in finance expenses and share of loss of equity-accounted associates. Adjusted EBITDA1 of $12 million, representing a robust 22% increase year-over-year. European market expansion strategy delivered exceptional results with regional bookings share growing by 5 percentage points to 32%, reflecting our successful targeted user acquisition campaigns and growing brand strength in the region. Average Bookings Per Paying User (ABPPU) increased by 10% year-over-year to $102, highlighting improved monetization and the high quality of our engaged player base. PC platform continued to strengthen our diversified distribution strategy, maintaining a solid 43% of bookings and supporting our lower commission structure. Cash flows from operating activities remained positive at $5 million, supporting our strong cash position of $1512 million and providing substantial resources for potential future strategic investments3. Fourth quarter and full year 2024 financial performance in comparison4 Fourth quarter 2024 financial performance In the fourth quarter of 2024, our revenue declined 11% year-over-year to $98 million, reflecting a $12 million decrease. This decline was primarily driven by a $9 million reduction in revenue recognized from bookings made in prior periods, as a larger portion of historical bookings contributed to revenue in the fourth quarter of 2023 than in the fourth quarter of 2024, amplified by a decrease in the portion of revenue recognized from current-quarter bookings, reflecting a $12 million decrease in bookings in the fourth quarter of 2024 compared with the same period in 2023. Platform commissions decreased by $4 million (or 16%) in the fourth quarter of 2024 compared to the same period in 2023, driven by a 10% decrease in revenues generated from in-game purchases, and amplified by growth of revenues derived from PC platforms which are associated with lower commissions. Game operation cost remained relatively stable at the level of $13 million in the fourth quarter of 2024 vs. $14 million in the fourth quarter of 2023. Selling and marketing expenses in the fourth quarter of 2024 decreased by $8 million vs. the same period in 2023, amounting to $47 million. The decrease is attributable to a shift in user acquisition strategy focused on enhancing efficiency. General and administrative expenses remained stable at $8 million in both the fourth quarter of 2024 and the same period in 2023. As a result of the factors above (together with, among other things, a share of loss of equity-accounted associates of $8 million in the fourth quarter of 2024 vs. nil in the same period in 2023, and net finance expenses in the fourth quarter of 2024 vs. net finance income in the same period in 2023 with a difference of $6 million), we recorded a profit for the period, net of tax, of $2 million compared with $11 million in the same period of 2024. Adjusted EBITDA in the fourth quarter of 2024 amounted to $12 million, an increase of $2 million compared with the same period in 2023. Cash flows generated from operating activities were $5 million in the fourth quarter of 2024 compared with $10 million in the same period in 2023. Fourth quarter and full year 2024 operational performance comparison Bookings declined in the fourth quarter of 2024 to reach $94 million compared with $106 million in the same period in 2023. The decline is primarily due to a decline in monthly paying users by 19% in the fourth quarter of 2024 vs. the same period in 2023, partially offset by an increase in ABPPU. The share of advertisement sales as a percentage of total bookings decreased in the fourth quarter of 2024 to reach 5.8% compared to 6.5% in the same period in 2023. This decline was primarily driven by a global trend of declining CPM rates for advertising in 2024. In the fourth quarter of 2024, the share of mobile and PC versions of our games remained relatively stable compared with the same period in 2023. Our split of bookings by geography in the fourth quarter of 2024 vs. the same period in 2023 remained broadly similar, with a notable increase in the share of Europe bookings. Note: Due to rounding, the numbers presented throughout this release may not precisely add up to the totals. The period-over-period percentage changes are based on the actual numbers and may therefore differ from the percentage changes if those were to be calculated based on the rounded numbers. About GDEV GDEV is a gaming and entertainment holding company, focused on development and growth of its franchise portfolio across various genres and platforms. With a diverse range of subsidiaries including Nexters and Cubic Games, among others, GDEV strives to create games that will inspire and engage millions of players for years to come. Its franchises, such as Hero Wars, Island Hoppers, Pixel Gun 3D and others have accumulated over 550 million installs and $2.5 billion of bookings worldwide. For more information, please visit www.gdev.inc Contacts: Investor RelationsRoman Safiyulin | Chief Corporate Development [email protected] Cautionary statement regarding forward-looking statements Certain statements in this press release may constitute “forward-looking statements” for purposes of the federal securities laws. Such statements are based on current expectations that are subject to risks and uncertainties. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The forward-looking statements contained in this press release are based on the Company’s current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting the Company will be those that the Company has anticipated. Forward-looking statements involve a number of risks, uncertainties (some of which are beyond the Company’s control) or other assumptions. You should carefully consider the risks and uncertainties described in the “Risk Factors” section of the Company’s 2024 Annual Report on Form 20-F, filed by the Company on March 31, 2025, and other documents filed by the Company from time to time with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should any of the Company’s assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Presentation of Non-IFRS Financial Measures In addition to the results provided in accordance with IFRS throughout this press release, the Company has provided the non-IFRS financial measure “Adjusted EBITDA” (the “Non-IFRS Financial Measure”). The Company defines Adjusted EBITDA as the profit/loss for the period, net of tax as presented in the Company's financial statements in accordance with IFRS, adjusted to exclude (i) goodwill and investments in equity accounted associates' impairment, (ii) loss on disposal of subsidiaries, (iii) income tax expense, (iv) other financial income, finance income and expenses other than foreign exchange gains and losses and bank charges, (v) change in fair value of share warrant obligations and other financial instruments, (vi) share of loss of equity-accounted associates, (vii) depreciation and amortization, (viii) share-based payments expense and (ix) certain non-cash or other special items that we do not consider indicative of our ongoing operating performance. The Company uses this Non-IFRS Financial Measure for business planning purposes and in measuring its performance relative to that of its competitors. The Company believes that this Non-IFRS Financial Measure is a useful financial metric to assess its operating performance from period-to-period by excluding certain items that the Company believes are not representative of its core business. This Non-IFRS Financial Measure is not intended to replace, and should not be considered superior to, the presentation of the Company’s financial results in accordance with IFRS. The use of the Non-IFRS Financial Measure terms may differ from similar measures reported by other companies and may not be comparable to other similarly titled measures. Reconciliation of the profit for the period, net of tax to the Adjusted EBITDA _________________________________________ 1 For more information, see section titled “Presentation of Non-IFRS Financial Measures” on the last two pages of this report, including the reconciliation of the profit for the period, net of tax to the Adjusted EBITDA.2 The amounts include investments in liquid high quality securities.3 On February 21, 2025 the Company announced that its Board of Directors has authorized and approved a one-time, nonrecurring special cash dividend of $3.31 per share, representing an aggregate cash outflow of approximately $60 million.4 For more information regarding our fully year 2024 financial performance, please see our 2024 Annual Report on Form 20-F, filed with the Securities and Exchange Commission on March 31, 2025.5 The amounts presented for the three months and full year ended December 31, 2024 may be different to those previously reported for these periods, as starting from Q1 2024 the Company reports depreciation and amortization expenses by function as a part of game operation cost, selling and marketing expenses, and general and administrative expenses in accordance with IAS 1.6 Certain numbers presented for the three months ended December 31, 2024 may not precisely add up with those previously reported for the nine months ended September 30, 2024, due to the correction of an error related to the reclassification of income from the write-off of a put option liability and the reclassification of certain amount between the impairment loss on trade and loan receivables and change in fair value of loans receivable and the share of loss of equity-accounted associates. As a result, the full-year 2024 figures presented herein reflect the corrected classification. Please refer to Note 33 of the Company’s consolidated financial statements, filed with the Securities and Exchange Commission on March 31, 2025.7 Adjusted finance income/expenses consist of finance income and expenses other than foreign exchange gains and losses and bank charges, net.