The developer and publisher of the Hero Wars series shared their financial results for the first three months of 2026. This period was quite favorable for GDEV.
Hero Wars
- As GDEV writes, the company's revenue for the quarter amounted to $99 million, which is 2% higher than at the start of 2025.
- Cash inflows, known as deferred revenue, also grew by the same 2%, reaching $83 million.
- The overwhelming majority of inflows came from in-game purchases — $78 million (+3%). An additional $5 million was generated from advertising (+1%).
- The share of PC-generated revenue decreased. Last year it was 41%, but now it is 36%, indicating that GDEV continues to earn the majority of its revenue from mobile platforms.
- The geographical distribution of GDEV's revenue is as follows: Europe accounts for 32%, the USA for 31%, and Asia for 18%.
- GDEV's profit rose by 22%, reaching $17 million.
- Recently, GDEV has been spending less on game promotion. Its marketing expenses decreased by 13% to $37 million for the quarter. However, the company's general and administrative expenses increased by 23% to $10 million.
- This change in marketing strategy affected the size of GDEV's monthly paying audience. The number of such gamers decreased from 284,000 to 269,000. However, they became more generous — the average revenue per paying user (ARPPU) increased by 8% to $97.