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Nexters sees Q3 2021 revenues up 77% to $115 million

Hero Wars reached over $1 billion in lifetime bookings
Nexters sees Q3 2021 revenues up 77% to $115 million

Nexters has revealed its Q3 2021 financials for the period ending September 30th, 2021.

The firm has reported record-high quarterly earnings reaching $115 million, a 77 per cent rise year-over-year.

Cash flow for the quarter ended at $51 million, an increase of 59 per cent year-over-year.

Net bookings for the quarter grew 29 per cent in comparison with the previous year, reaching $151 million.

Nexters’ mobile games portfolio constituted 70 per cent of its overall bookings for the quarter, with its desktop games accounting for the remaining 30 per cent.

Record third quarter

The firm’s bookings from Asia nearly doubled year-over-year and now equate to 26 per cent of overall bookings.

Notably, its flagship mobile title Hero Wars, which recently celebrated its fifth anniversary, has reached over $1 billion in lifetime bookings.

"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," said Nexters co-founder and CEO Andrey Fadeev.

"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 media 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."

In August, Nexters went public through a SPAC with Kismet Acquisition One at a valuation of $1.9 billion.

The firm recently reported its H1 2021 revenue reached $196 million, showing an increase of 61 per cent year-over-year