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GDEV Inc. (GDEV)
USD12.54
+0.69 (+5.82%)
CY NASDAQ Technology Electronic Gaming & Multimedia
Address
55, Griva Digeni 3101
Limassol, LI, CY
Limassol, LI, CY
CEO
Anton Reinhold
Website
gdev.inc
IPO
2020-10-05
CIK 1848739 ISIN VGG6529J2092
Also trades on
NASDAQ Capital Market · KSMT (USD)
NASDAQ Global Market · GDEV (USD)
NASDAQ Global Market · GDEVW (USD)
NASDAQ Global Select · KSMTU (USD)
Description
GDEV Inc. operates as a global interactive entertainment firm, specializing in the development and provision of a diverse portfolio of digital games. Its offerings span various platforms, including desktop computers, mobile devices, web browsers, and social networks, reaching audiences across the United States, Europe, Asia, and other international markets. The company, which traces its origins back to its establishment in 2010, was formerly known as Nexters Inc. before officially rebranding to GDEV Inc. in June 2023. Its corporate headquarters are situated in Limassol, Cyprus.
Market Cap & Enterprise Value
Merger & Acquisition History
No mergers or acquisitions recorded for this company.
Technical Outlook
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Signal Summary
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| Indicator | 1D | 1W | 2W | 3W | 1M |
|---|
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
USD12.54
+0.69 (+5.82%)
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Volume Profile
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Liquidity & share structure
Average Volume
3.9K
Beta
1.25
Float Shares
2.45M
Free Float %
13.5%
Price Performance
| 1D | 5D | 1M | 3M | 6M | YTD | 1Y | 3Y | 5Y | 10Y | Max |
|---|---|---|---|---|---|---|---|---|---|---|
| +0.06% | -8.83% | -8.57% | +0.06% | -26.94% | +6.67% | +2.89% | -78.11% | -83.73% | -83.51% | -83.51% |
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From
To
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Annual Monthly Returns
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Daily Returns Distribution
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Revenue flow
Revenue by geography
Revenue by segment
From
To
Revenue composition
From
To
By product
By geography
Financial Statements
Select metrics from the tables below to build your comparison.
Income Statement
Balance Sheet
Cash Flow Statement
Key Metrics
Financial Ratios
Employees
Financial Growth (CAGR)
Market Data
Analyst Consensus (1 ratings, all time)
Buy
Price Targets & DCF
Current price
12.54
DCF (Unlevered)
96.10
+666.3%
DCF (Levered)
32.59
+159.9%
DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.
Ratings Trend (MoM)
50% Bullish
| Rating | 2026-05 | Change |
|---|---|---|
| Strong Buy | 0 | 0 |
| Buy | 1 | 0 |
| Hold | 1 | 0 |
| Sell | 0 | 0 |
| Strong Sell | 0 | 0 |
Quality scores
Altman Z-Score
1.50
Distress
Piotroski F-Score
5 / 9
Average
MOAT Score
5 / 10
Developing
Composite Rating
C+
Overall Score
2 / 5
Medium
DCF Score
5 / 5
High
ROE Score
1 / 5
Low
ROA Score
1 / 5
Low
D/E Score
1 / 5
Low
P/E Score
4 / 5
High
P/Book Score
1 / 5
Low
Operational MOAT
✗ Below peers
-
Revenue growth Electronic Gaming & Multimedia: +4.1%-3.9% Q1'26: +2.0% (vs Q1'25)
-
EPS growth Electronic Gaming & Multimedia: +20.0%+173.2% ★ Q1'26: +22.1% (vs Q1'25)
-
FCF margin FCF growth · Electronic Gaming & Multimedia: +41.4%+7.9% ★ Q1'26: +20.5% (vs Q1'25)
-
EBIT margin Electronic Gaming & Multimedia: +10.3%+18.5% ★ Q1'26: +18.2% (vs Q1'25)
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ROIC Electronic Gaming & Multimedia: +6.6%—
-
Share dilution Electronic Gaming & Multimedia: +0.0%-1.7% ★ Q1'26: -0.6% (vs Q1'25)
-
Debt / EBITDA Net debt/EBITDA · Electronic Gaming & Multimedia: -1.53×0.01× Q1'26: 0.01× (vs Q1'25)
Valuation Multiples
From
To
Price Forecast (3Y)
From
To
Theoretical Return — If Invested Today
* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.
Consensus Estimates
| Metric |
Dec 2021 actual |
Dec 2022 actual |
Dec 2023 actual |
Dec 2024 actual |
Dec 2025 actual |
Dec 2026 1 Rev. Ana. 1 EPS Ana. |
Dec 2027 1 Rev. Ana. 1 EPS Ana. |
|---|---|---|---|---|---|---|---|
| Revenue |
434.09M
est: 520.77M (-16.6%)
|
479.69M
est: 629.00M (-23.7%)
|
464.55M
est: 452.21M (+2.7%)
|
420.93M
est: 418.67M (+0.5%)
|
404.35M
est: 410.30M (-1.5%)
|
428.00M
425.66M – 430.34M
+4.3% YoY
|
465.00M
464.39M – 465.61M
+8.6% YoY
|
| EBITDA |
-113.69M
est: -1.08M (-10,458.3%)
|
19.14M
est: -1.30M (+1,571.6%)
|
56.68M
est: -935.0K (+6,162.0%)
|
36.65M
est: 205.25M (-82.1%)
|
81.63M
est: 201.15M (-59.4%)
|
209.83M
208.68M – 210.98M
+4.3% YoY
|
227.97M
227.67M – 228.27M
+8.6% YoY
|
| EBIT |
-116.23M
est: -6.35M (-1,731.7%)
|
12.24M
est: -7.66M (+259.7%)
|
50.18M
est: -5.51M (+1,010.8%)
|
30.47M
est: 197.15M (-84.5%)
|
74.78M
est: 193.21M (-61.3%)
|
201.55M
200.45M – 202.65M
+4.3% YoY
|
218.97M
218.68M – 219.26M
+8.6% YoY
|
| Net Income |
-117.44M
est: 7.36M (-1,694.7%)
|
7.30M
est: 10.56M (-30.9%)
|
46.12M
est: 5.26M (+777.4%)
|
25.53M
est: 20.09M (+27.1%)
|
69.33M
est: 69.17M (+0.2%)
|
79.77M
79.04M – 80.32M
+15.3% YoY
|
94.46M
94.30M – 94.62M
+18.4% YoY
|
| SGA |
293.20M
est: 291.67M (+0.5%)
|
183.28M
est: 352.28M (-48.0%)
|
250.15M
est: 253.26M (-1.2%)
|
233.57M
est: 218.90M (+6.7%)
|
187.24M
est: 214.53M (-12.7%)
|
223.78M
222.56M – 225.01M
+4.3% YoY
|
243.13M
242.81M – 243.45M
+8.6% YoY
|
| EPS |
-6.40
est: 0.40 (-1,702.2%)
|
0.37
est: 0.57 (-35.4%)
|
2.34
est: 0.29 (+707.2%)
|
1.40
est: 1.11 (+25.7%)
|
3.81
est: 3.82 (-0.3%)
|
4.40
4.36 – 4.43
+15.2% YoY
|
5.21
5.20 – 5.22
+18.4% YoY
|
Historical Ratings (3M)
| Date | Rating | Overall | DCF | ROE | ROA | D/E | P/E | P/B |
|---|---|---|---|---|---|---|---|---|
| 2026-05-20 | C+ | 2/5 | 5/5 | 1/5 | 1/5 | 1/5 | 4/5 | 1/5 |
| 2026-05-19 | B | 3/5 | 5/5 | 1/5 | 5/5 | 1/5 | 4/5 | 1/5 |
| 2026-05-18 | B | 3/5 | 5/5 | 1/5 | 5/5 | 1/5 | 4/5 | 1/5 |
| 2026-05-15 | B | 3/5 | 5/5 | 1/5 | 5/5 | 1/5 | 4/5 | 1/5 |
| 2026-05-14 | B | 3/5 | 5/5 | 1/5 | 5/5 | 1/5 | 4/5 | 1/5 |
| 2026-05-13 | B | 3/5 | 5/5 | 1/5 | 5/5 | 1/5 | 4/5 | 1/5 |
| 2026-05-12 | B | 3/5 | 5/5 | 1/5 | 5/5 | 1/5 | 4/5 | 1/5 |
| 2026-05-11 | B | 3/5 | 5/5 | 1/5 | 5/5 | 1/5 | 4/5 | 1/5 |
| 2026-05-08 | B | 3/5 | 5/5 | 1/5 | 5/5 | 1/5 | 4/5 | 1/5 |
| 2026-05-07 | B | 3/5 | 5/5 | 1/5 | 5/5 | 1/5 | 4/5 | 1/5 |
| 2026-05-06 | B | 3/5 | 5/5 | 1/5 | 5/5 | 1/5 | 4/5 | 1/5 |
| 2026-05-05 | B | 3/5 | 5/5 | 1/5 | 5/5 | 1/5 | 4/5 | 1/5 |
| 2026-05-04 | B | 3/5 | 5/5 | 1/5 | 5/5 | 1/5 | 4/5 | 1/5 |
| 2026-05-01 | B | 3/5 | 5/5 | 1/5 | 5/5 | 1/5 | 4/5 | 1/5 |
| 2026-04-30 | B | 3/5 | 5/5 | 1/5 | 5/5 | 1/5 | 4/5 | 1/5 |
| 2026-04-29 | B | 3/5 | 5/5 | 1/5 | 5/5 | 1/5 | 4/5 | 1/5 |
| 2026-04-28 | B | 3/5 | 5/5 | 1/5 | 5/5 | 1/5 | 4/5 | 1/5 |
| 2026-04-27 | B | 3/5 | 5/5 | 1/5 | 5/5 | 1/5 | 4/5 | 1/5 |
| 2026-04-24 | B | 3/5 | 4/5 | 1/5 | 5/5 | 1/5 | 4/5 | 1/5 |
| 2026-04-23 | B | 3/5 | 5/5 | 1/5 | 5/5 | 1/5 | 4/5 | 1/5 |
| 2026-04-22 | B | 3/5 | 5/5 | 1/5 | 5/5 | 1/5 | 4/5 | 1/5 |
| 2026-04-21 | B | 3/5 | 5/5 | 1/5 | 5/5 | 1/5 | 4/5 | 1/5 |
| 2026-04-20 | B | 3/5 | 5/5 | 1/5 | 5/5 | 1/5 | 4/5 | 1/5 |
| 2026-04-17 | B | 3/5 | 5/5 | 1/5 | 5/5 | 1/5 | 4/5 | 1/5 |
| 2026-04-16 | B | 3/5 | 5/5 | 1/5 | 5/5 | 1/5 | 4/5 | 1/5 |
Owner Earnings
Owner's Earnings (history)
From
To
Owner alignment
Owner's Earnings TTM
38.15M
OE per share TTM
2.11
Owner's Yield
13.15%
Maintenance CapEx ratio
2.68%
Maint CapEx / Avg PPE
0.6%
Ownership Overview
Ownership breakdown
Ownership breakdown not available.
At a glance
Institutional holders
—
Total invested
—
Insider transactions (90d)
0
Beneficial owners (>5%)
8
Beneficial owners (>5%)
| # | Reporting person | Amount owned | % of class | Sole voting | Shared voting | Sole dispositive | Shared dispositive | Type | Citizenship | Filing date | SEC filing |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Everix Investments Limited | 74.40M | 37.90% | — | 74.40M | — | 74.40M | OO | Cyprus | 2022-04-06 | ↗ |
| 2 | Andrey Fadeev | 39.79M | 20.20% | — | 39.79M | — | 39.79M | IN | Republic of Malta and Russian Federation | 2022-02-25 | ↗ |
| 3 | Dmitrii Bukhman | 37.20M | 18.90% | — | 37.20M | — | 37.20M | IN | Cyprus | 2022-04-06 | ↗ |
| 4 | Igor Bukhman | 37.20M | 18.90% | — | 37.20M | — | 37.20M | IN | Cyprus | 2022-04-06 | ↗ |
| 5 | Ivan Tavrin | 11.75M | 6.00% | — | 11.75M | — | 11.75M | IN | Russian Federation | 2022-02-14 | ↗ |
| 6 | Kismet Sponsor Limited | 11.75M | 6.00% | — | 11.75M | — | 11.75M | OO | British Virgin Islands | 2022-02-14 | ↗ |
| 7 | Sponsor Limited | 11.75M | 6.00% | — | 11.75M | — | 11.75M | OO | British Virgin Islands | 2023-02-15 | ↗ |
| 8 | Tavrin | 11.75M | 6.00% | — | 11.75M | — | 11.75M | IN | British Virgin Islands | 2023-02-15 | ↗ |
Institutional Activity (13F)
Institutional ownership trend
Institutional history not available.
Top institutional holders
Top holders not available.
ETF Ownership
Top ETFs holding this stock
Held by 3 ETFs in our universe
| # | ETF | Weight | Est. AUM exposure | TER |
|---|---|---|---|---|
| 1 | Dimensional - US Sustainability Core 1 ETF DFSU | 0.00% | 5.8K | 0.15% |
| 2 | Dimensional - US Core Equity 1 ETF DCOR | 0.00% | 3.4K | 0.14% |
| 3 | Dimensional - US Core Equity 2 ETF DFAC | 0.00% | 1.2K | 0.17% |
Insider Activity
Insider Activity — Latest Quarter
Ratio by transactions
0.00
Bearish
Buys
0
Sells
0
Shares acquired
—
Shares disposed
—
Cash buys
—
Cash sales
—
Net activity
+0
Insider buys vs sells (history)
From
To
Recent insider transactions
From
To
| Date | Person | Role | Transaction | A/D | Security | Shares | Price | Value | Owned after | D/I | Filing |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026-03-18 | Shoham Tal | Director | — | — | Stock Option | 10,654 | 0.00 | — | 0 | D | ↗ |
| 2026-03-18 | Sheppard Andrew Jeremy | Director | — | — | Ordinary Shares | 0 | 0.00 | — | 512 | D | ↗ |
| 2026-03-18 | Reingold Anton | Officer | — | — | Stock Option | 22,072 | 0.00 | — | 0 | D | ↗ |
| 2026-03-18 | Karavaev Alexander | Officer | — | — | Stock Option | 100,000 | 100.00 | 10.00M | 0 | D | ↗ |
| 2026-03-18 | Holive Marie Juliette France | Director | — | — | Ordinary Shares | 0 | 0.00 | — | 10,654 | D | ↗ |
| 2026-03-18 | Fadeev Andrey | Director / Officer | — | — | Ordinary Shares | 0 | 0.00 | — | 6,709,391 | D | ↗ |
| 2026-03-18 | Bukhman Igor | Director | — | — | Ordinary Shares | 0 | 0.00 | — | 3,720,070 | I | ↗ |
Executive team
Top executives
EBIT / Employee
117.3K
Shares Outstanding
18.15M
Executive compensation
Executive compensation (annual)
Executive compensation not available.
CEO compensation breakdown
No CEO compensation history available.
Proxy statements
Proxy statements (DEF 14A)
No proxy statements available for this company yet.
Recent SEC filings
Executive team
| Name | Title | Compensation | Gender |
|---|---|---|---|
| Alexander Karavaev | Chief Financial Officer | — | male |
| Andrey Fadeev | Co-Founder, Chairman of the Board & Chief Executive Officer | — | male |
| Anton Reinhold | Chief Executive Officer of Flagship Game Studio & Nexters Global | — | — |
| Roman Safiyulin | Chief Corporate Development Officer | — | male |
| Yulia Dementieva | General Counsel | — | female |
ESG Rating
ESG Score History ELECTRONIC GAMING & MULTIMEDIA
Benchmark vs Sector
Senate Trading Activity
No Senate trading activity found for this company.
House Trading Activity
No House trading activity found for this company.
Market share among peers
Peer comparison — filtered group (TTM)
Your opinion
Share your view on this stock and instantly see how the community has voted over the last 6 months.
Community Opinion for GDEV
Short-term intention
Target Price Distribution
These are community opinions and do not constitute buy or sell advice to act on. The results shown are based on aggregated opinions and are not an investment recommendation, nor do they intend to influence any investment decision.
