- Players’ behavior continued to show positive dynamics:
Monthly Average Bookings Per Paying User grew by 7% in Q1
- Company estimates year-on-year revenue growth of 48%[1] in
Q1 2021 based on a solid 15% growth in Bookings
- Due to players’ behavior, Q1 results, and April’s growth of
Paying Users Nexters raised 2021 Bookings growth forecast at
38%
Nexters, an international game development company which is
preparing to go public on Nasdaq this year, 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.
About Nexters
Nexters is an international game development company which
strives to introduce the joy of core gaming experiences to casual
players. Thanks to such hit games like Hero Wars, Throne Rush, and
others the company reached over 100 million installs worldwide and
became one of the top five independent mobile game companies in
Europe. Headquartered in Cyprus, Nexters is built upon a team of
500+ inspired game developers. Please find more information about
Nexters at: https://nexters.com and follow Nexters on LinkedIn.
DISCLAIMERS
This press release shall neither constitute an offer to sell or
the solicitation of an offer to buy any securities, nor there any
sale of securities in any jurisdiction in which the offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such
jurisdiction.
Use of Projections. The financial projections, estimates
and targets in this press release are forward-looking statements
that are based on assumptions that are inherently subject to
significant uncertainties and contingencies, many of which are
beyond Kismet’s and Nexters’ control. Although all financial
projections, estimates and targets are necessarily speculative,
Kismet and Nexters believe that the preparation of prospective
financial information involves increasingly higher levels of
uncertainty the further out the projection, estimate or target
extends from the date of preparation. The assumptions and estimates
underlying the projected, expected or target results are inherently
uncertain and are subject to a wide variety of significant
business, economic and competitive risks and uncertainties that
could cause actual results to differ materially from those
contained in the financial projections, estimates and targets. The
inclusion of financial projections, estimates and targets in this
press release should not be regarded as an indication that Kismet
and Nexters, or their representatives, considered or consider the
financial projections, estimates and targets to be a reliable
prediction of future events.
Non-IFRS Financial Measures. Nexters defines Bookings as
revenue generated from both in-game purchases and advertising
before taking into account deferral of certain revenue attributable
to purchases of durable virtual items. Accordingly, Bookings is
equal to revenue as reported by Nexters, plus the net change in
revenue attributable to purchases of durable virtual items that is
deferred and generally recognized ratably over the average playing
period of players for the applicable game (player's lifespan),
which represents Nexters’ best estimate of the average life of the
durable virtual item. Bookings is a non-IFRS financial measure, and
should not be construed as an alternative to revenue as an
indicator of operating performance as determined in accordance with
IFRS.
Additional Information; Participants in the Solicitation.
Nexters has filed a preliminary proxy statement/prospectus, and
will file a definitive proxy statement/prospectus and other
relevant documents with the SEC. Kismet shareholders and other
interested persons are urged to read the proxy statement/prospectus
and any other relevant documents filed with the SEC because they
contain important information about Kismet, Nexters and the
contemplated business combination. Kismet shareholders will be able
to obtain a free copy of the proxy statement/prospectus, as well as
other filings containing information about Kismet, Nexters and the
contemplated business combination, without charge, at the SEC’s
website located at www.sec.gov.
Kismet and its directors and executive officers may be deemed to
be participants in the solicitation of proxies from Kismet’s
shareholders in connection with the proposed transaction. A list of
the names of such directors and executive officers and information
regarding their interests in the business combination are contained
in the proxy statement/prospectus. You may obtain free copies of
these documents as described in the preceding paragraph. This press
release does not contain all the information that should be
considered in the contemplated business combination. It is not
intended to for many basis of any investment decision or any
decision in respect to the contemplated business combination. The
definitive proxy statement will be mailed to shareholders as of a
record date to be established for voting on the contemplated
business combination when it becomes available.
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 Kismet’s and Nexters’ current expectations and beliefs
concerning future developments and their potential effects on
Kismet and Nexters. There can be no assurance that future
developments affecting Kismet and Nexters will be those that Kismet
and Nexters have anticipated. Forward-looking statements involve a
number of risks, uncertainties (some of which are beyond Kismet’s
and Nexters’ control) or other assumptions. You should carefully
consider the risks and uncertainties described in the “Risk
Factors” section of the registration statement on Form F-4 relating
to the business combination, filed by Nexters and other documents
filed by Nexters and Kismet from time to time with the SEC. Should
one or more of these risks or uncertainties materialize, or should
any of Kismet’s or Nexters’ 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 Kismet and
Nexters undertake 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.
[1] Preliminary estimate based on information currently
available to the Company and based on judgments that the Company
believes are reasonable. Actual results may differ, even
significantly, from the Company's estimate.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210701005247/en/
Nexters:
PR: Andrey Akimov | Chief Communications Officer
aa@nexters.com
IR: Roman Safiyulin | Investor Relations Officer
r.safiyulin@nexters.com
Grafico Azioni Kismet Acquisition One (NASDAQ:KSMTU)
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Grafico Azioni Kismet Acquisition One (NASDAQ:KSMTU)
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