Nexters reports positive operating and financial metrics in its existing and new titles in 2021. This performance comes in spite of industry’s cautious expectations regarding post-COVID-19 trends, and has led the company to revise its forecasts for 2021 and beyond.
Mobile player behavior has not experienced any negative change since the start of 2021. Players’ spending proceeded to grow, as Monthly Average Bookings Per Paying User grew by 7% in Q1 2021 compared to Q1 2020 and reached $115.
Q1 Bookings has reached $113 million, 15% higher compared to the same period of 2020, resulting in estimated revenue growth of 48%[1].The growth has been supported by new marketing initiatives and acquiring users with forecasted paybacks above initial expectations, which led to an increase in the number of Monthly Paying Users by 9%. To capitalize on the Q1 growth, the company has increased its marketing campaigns and achieved an increase in Monthly Paying Users of 42% year-on-year in April 2021.
Strong performance in the beginning of the year allowed Nexters to significantly update the forecast for 2021 Bookings, which are expected now to grow at 38% year-over-year and reach around $610 million.
“Our games won’t stop being fun when the pandemic ends,” Nexters CEO and Cofounder Andrey Fadeev said. “On the one hand we see an ongoing growth of Hero Wars, a ‘forever franchise’ first released in 2016. On the other we see some promising results from new titles such as Chibi Island. Our strong performance from both new and well-established titles positions us well for our anticipated upcoming listing on Nasdaq,”
On February 1, Nexters and Kismet Acquisition One Corp (“Kismet”) (Nasdaq: KSMTU), a special purpose acquisition company (SPAC), entered into a definitive business combination agreement that will result in Nexters becoming a publicly-listed company on Nasdaq. The transaction, which placed Nexters at an enterprise value of $1.9 billion, will be funded by approximately $250 million held in trust by Kismet, subject to potential redemptions, as well as the additional $50 million investment by the SPAC Sponsor, Kismet Capital Group, and is expected to close in 2021. Please find more information about the SPAC transaction at: https://nexters.com/investors_content
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