Nexters has shared its financial results for the first time since going public. In the first half of 2021, it increased revenue by more than half. But at the same time, Nexters’ losses also increased — by eight times at once.
Hero WarsMain figures:
- for six months, Nexters earned $196 million, which is 61% more compared to the first half of 2020;
- net receipts (bookings) of the company increased by 29% year-on-year and reached a record $268 million;
- the net loss was $31.7 million. For comparison, in the first half of 2020, Nexters suffered a $4 million loss. The company attributes this growth to increased costs for marketing, operating games and platform commissions, as well as preparations for listing on Nasdaq and hiring new employees;
- in particular, for six months Nexters spent $ 155 million on marketing — 112% more than in the same period of 2020. It took $16 million (+100%) to operate the games, as well as general and administrative expenses. The payment of commissions cost the company $53.9 million (+51%);
- by the end of June, monthly paying users in Nexters games were 26% more than a year ago — 356 thousand people;
- The ABPPU indicator (receipts from one paying user on average per month) was $120. This is $2 more than a year earlier. According to Nexters, the lack of significant growth is due to the influx of new paying players — they usually spend little at first.
Nexters is a gaming company with Russian roots, founded in 2014. On her account, such games as Hero Wars, Throne Rush, Island Experiment and Chibi Island. At the end of August, Nexters went public. It was assumed that after that its market valuation would be $1.9 billion.