GDEV Inc. (GDEV) AI Stock Analysis

GDEV Inc., originally established in 2010 under the name Nexters Inc. and rebranded in June 2023, is a global gaming and entertainment company headquartered in Limassol, Cyprus. The company develops desktop, mobile, web, and social games for players worldwide, with operations spanning the United States, Europe, Asia, and other regions. GDEV's portfolio encompasses a wide range of interactive gaming experiences across multiple platforms and devices. The company employs 488 people and operates with a dedicated team of developers focused on creating engaging entertainment products that address emerging consumer trends in the global gaming market.

GDEV's revenue has trended downward in recent fiscal years, falling from $479.7M in FY2022 to $464.5M in FY2023, $420.9M in FY2024, and $404.3M in FY2025, which reflected a 3.9% decline. Despite the top-line contraction, profitability improved in FY2025, with net income rising to $69.3M and net margin reaching 17.1%, compared to $25.5M and a 6.1% net margin in FY2024. Operating cash flow stood at $29.4M in FY2025 with free cash flow of $29.1M. Over the trailing twelve months ended June 30, 2026, revenue was $380.4M with EPS of $4.11. In the latest quarter, revenue declined 22.0% year-over-year, while quarterly earnings grew 20.0%.

As of June 30, 2026, GDEV held $121.5M in cash and short-term investments against $1.7M in total debt, resulting in net cash of $119.8M. Total assets stood at $240.3M, and the current ratio was 0.75. The company carries negative shareholders' equity of -$51.7M. In FY2025, capital expenditures were $313,000, while dividends paid totaled $56.0M. The company's share count decreased by 90.6% over a five-year period.

GDEV closed at $10.89 on October 16, 2026, with a market capitalization of $197.3M and an enterprise value of $87.6M. The stock trades at a trailing P/E of 2.6x and a forward P/E of 2.1x, below the median of its US-listed Communication Services peers of 16.2x and 14.1x, respectively. Its EV/EBITDA multiple of 1.0x compares to the peer median of 10.0x, while its price-to-sales ratio is 0.5x versus the peer median of 0.8x. Over the past year, GDEV fell 53.0%, while the S&P 500 (SPY) returned 16.8%.

Wall Street coverage includes 1 Strong Buy rating, with 0 Buy, Hold, Sell, or Strong Sell ratings. The mean price target is $70.00, compared to the last close of $10.89. For the fiscal year ending December 31, 2026, the consensus EPS estimate is $4.58 on revenue of $435.0M. For FY2027, 1 analyst projects EPS of $5.21 and revenue of $465.0M. The company beat EPS estimates in 2 of the last 4 quarters, and its next earnings date is November 23, 2026.

This page is an AI-written research summary of GDEV Inc. (GDEV). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

Related: GDEV income statement, GDEV balance sheet, GDEV key metrics, GDEV analyst forecast, GDEV chart. See the GDEV stock overview for the latest quote and news.