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Key Insights
Q3 2024 GDEU Financial Results
GDEU~13 min full read
- 01
Annual revenue grew by 14.3%, rising from $420 million in 2023 to $480 million in 2024, supported by expansion across mobile and PC platforms.
See it on page 4 - 02
Net income before tax increased significantly from $30 million to $50 million, while adjusted EBITDA rose to $49 million.
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Selling and marketing expenses decreased from $209 million to $153 million, indicating a successful shift toward more efficient customer acquisition strategies.
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Monthly paying users grew from 359k in Q4 2023 to 381k in Q4 2024, though average bookings per paying user saw a slight decline from $294 to $278.
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Cash and cash equivalents improved from $72 million to $111 million, bolstered by $28.5 million in operating cash flow during 2024.
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Platform commission costs increased by 42.9%, rising from $91 million to $130 million over the fiscal year.
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Total assets declined from $321 million to $272 million, primarily driven by reductions in deferred revenue and trade receivables.
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