12° Nicosia,
18 June, 2024

Nexters reports record-breaking quarterly revenues of $126 million

Announces changes to the Board of Directors

Nexters, an international game development company headquartered in Limassol, today released financial and operational results for the first quarter of 2022 and announced the changes to the board of directors: among others, Ivan Tavrin will leave the board and the position of chairman. Starting from August 28, 2022, he will not be involved in the corporate governance of the company — the Board of Directors will vote to elect a new chairman.

As for other changes, three new independent directors will join the board: Tal Shoham (over 10 years of business development and marketing experience at Supersonic, ironSource, and Huuuge Games), Marie Holive (former CFO and Managing Director at General Electric and Comcast NBCUniversal) and Olga Loskutova (former Managing Director at Nestle and SABMiller, now VP Product & Brand Marketing at Whirlpool EMEA). As Nexters expects, the strong international multi-industry background of new independent directors will contribute to Nexters’ further growth.

According to the company’s unaudited financial and operational results for Q1, Nexters reached record-breaking quarterly revenues of $126 million, growing 45% year-over-year and record high quarterly net profit of $23 million. Cash flow generated from operating activities equals $18 million. Earlier this year, Nexters entered agreements to acquire three gaming companies amounting to $100 million, namely Cubic Games, RJ Games, and Royal Ark, which placed Nexters at #9 in the top-15 world’s largest strategic investors according to InvestGame report Q1’22.

Cyprus  |  gaming

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