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Nexters Continues to Demonstrate Substantial Growth in Q3 2021 - November 17 , 2021 – Limassol , Cyprus – Nexters Inc. ( NASDAQ : GDEV ) , an international game development company which strives to introduce the joy of core gaming experiences to casual players , today announced its unaudited financial and operational results for the third quarter of 2021 . Third Quarter 2021 Highlights Financial : Record high quarterly revenues of $ 115 million , growing 77 % year - over - year Non - cash non - recurring listing expense of $ 125 million caused a net loss in the third quarter of 2021 , which amounted to $ 104 million vs. $ 11 million in the respective period of 2020 Adjusted Net Profit in the amount of $ 8 million in Q3 2021 vs. an Adjusted Net Loss of $ 11 million in the respective period of 2020 Cash flow generated from operating activities of $ 51 million , growing 59 % year - over - year Our cash and cash equivalents totaled $ 105 million as of September 30 , 2021 Operational : Q3 2021 bookings of $ 151 million , growing 29 % year - over - year Bookings from Asia nearly doubled year - over - year , now constituting 26 % of total bookings Bookings from Desktop platforms grew 55 % year - over - year , now constituting 30 % of total bookings , taking platform commissions down to 27 % of revenues in Q3 2021 , declining 1 p.p. year - over - year Monthly paying users of 371 thousand in Q3 2021 , growing 30 % year - over - year Average Bookings per Paying User of $ 128 , broadly stable compared to $ 132 in Q3 2020 Advertisement sales of $ 9 million , more than doubling year - over - year , now constituting 6 % of total bookings Products & M & A : Chibi Island , a new casual adventure game officially released on iOS and Android with total install base approaching 1.5 million . Throne Rush , a strategy game , launched on Web Hero Wars mobile version recently celebrated its 5th anniversary , with the title's lifetime bookings surpassing a milestone of $ 1 billion Nexters launched Boost program as one of the M & A initiatives to provide independent developers with expertise and funds needed to launch their games and build successful international businesses . Quote by CEO and Co - founder , Andrey Fadeev : " The third quarter has been quite significant for Nexters as within this period we reached two milestones which will influence our further long - term development and growth . In accordance with our organic growth strategy , we see casual games as an opportunity to significantly expand into a larger audience of casual players . We've been quite successful with casual titles on social ; and now , with the traction we have on mobile with Hero Wars , our plan is to use all our knowledge , experience and best practices to deliver successful casual games on mobile platforms . Chibi Island , a new casual adventure game which was officially released in July this year , is the first title of that genre with more to follow in the coming months . On the non - organic side of our growth strategy , in September we launched the Boost program to support the indie game development scene . While our broader mergers and acquisitions strategy encompasses gaming companies and studios of various size , this program targeting the smaller indie market is our first officially announced initiative . Boost will focus on talented teams with innovative games and is intended to help them build a successful international business on a global scale thanks to Nexters ' expertise in various genres and on various platforms that we have accumulated within our years of growth . So besides positive financial metrics , we set strategic vectors in the third quarter , the effects of which will , we believe , positively contribute to Nexters ' long - term performance . " Third quarter 2021 financial performance Chang US $ million Q3 2021 Q3 Chang 9M 2020 e ( % ) 2021 9M 2020 e ( % ) Revenue 115 65 77 % 312 187 67 % Platform commissions ( 31 ) ( 18 ) 72 % ( 85 ) ( 54 ) 57 % Game operation cost ( 5 ) ( 4 ) 25 % ( 13 ) ( 11 ) 18 % Selling and marketing expenses ( 64 ) ( 53 ) 21 % ( 219 ) ( 126 ) 74 % G & A expenses ( 6 ) ( 0.3 ) n.m. ( 14 ) ( 1 ) n.m.