A gaming company with Russian roots Nexters reported for the first quarter of 2021. It turned out to be so good that the company revised its forecast for the whole year and raised its expected financial indicators.
The main figures of the first quarter (January-March 2021):
- by the end of March, there were 9% more monthly paying players compared to the same period last year. And their number continues to grow. Nexters indicated that in April the number of paying users increased by 42%;
- The ABPPU indicator (receipts from one paying user on average per month) reached $115. This is 7% higher than in the first quarter of 2020;
- in-game revenue increased by 15% year-on-year and amounted to $113 million;
- Nexters did not say exactly how much she earned in the quarter. According to preliminary estimates, revenue was expected to grow by 48% at once.
By the end of 2021, the company expects to receive $610 million in revenue. How much Nexters was going to earn initially is not reported. But the planned revenue is already 38% more than the company earned in 2020 ($443 million).
“When the pandemic ends, our games will not cease to be exciting,” commented Andrey Fadeev, CEO of Nexters. “On the one hand, we see the further growth of our “eternal franchise” — the Hero Wars game. On the other hand, we note the promising results of new games such as Chibi Island. The high performance of both new and well-established games significantly strengthens the position ahead of the Nasdaq listing.”
The fact that Nexters is going to go public became known in February. The company will enter the stock exchange through a merger with the SPAC firm Kismet Acquisition One. It is assumed that, as a result, the valuation of the combined company will amount to $1.9 billion.