Saturday 17 October 2026 Export GDEV’s income statement to Excel — free account

GDEV Inc.

GDEV Communication Services Electronic Gaming & Multimedia

GDEV Inc.’s revenue for fiscal 2025 (year ended December 2025) was $404.3 million, down 3.94% from fiscal 2024. In the quarter to June 2026, revenue fell 18.5%, EPS grew 1,000.0% and free cash flow grew 4,744.5%, each against the same quarter a year earlier.

10.89 0.42 +4.01%

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Market cap: $190.2M
P/E: 2.7×
Fwd P/E: 2.8×
Dividend yield: 0.00%
F-score: 6/9
Altman Z: 1.41
Beneish M: −1.60
Dividend safety: 25/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 0.34

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	—	1	—	—	1	—

Insider Ownership 88.60%

Capital & Financial Ratios $m

Market Cap 190.24

Revenue 440.60

Net Income 68.24

Free Cash Flow 30.21

Net Debt (121.49)

Current Ratio 0.75

Debt/Equity 0.00

P/E ratio 2.70

Fwd P/E 2.82

P/S ratio 0.45

P/B ratio 0.00

Past 5Y EPS Growth —

This Y EPS Growth 25.48%

Next Y EPS Growth 13.76%

Next Y revenue growth 7.58%

Next 5Y EPS Growth (9.96%)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/S against its own 10 years 2.18%

10-year low 10-year high

EV/Sales against its own 10 years 2.33%

10-year low 10-year high

EV/FCF against its own 10 years 0.79%

10-year low 10-year high

Dividends

Payout Ratio 0.00

Annual Dividend Rate 0.00

Annual Dividend Yield 0.00%

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	156	135	108	121
Receivables	52	42	45	43
Inventory	—	—	—	—
Other	2	2	2	1
	214	180	155	166

	2023	2024	2025	Q'26
Payables	30	20	25	28
ST’ Debt	—	—	—	—
Other	30	16	16	16
	303	263	232	221

Compound Annual Growth %

	10y	5y	3y
Sales	—	9.16%	(5.54%)
Cash Flow	—	(24.57%)	(36.70%)
Earnings	—	0.00%	111.74%
Book Value	—	0.00%	0.00%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	—	94	—	—	—
’25	—	120	—	—	404
’24	—	106	—	—	421
’23	119	115	121	—	465
’22	126	126	128	100	480
’21	87	110	115	123	434
’20	—	63	65	—	261

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	—	15	—	—	—
’25	—	(4)	—	—	29
’24	—	12	—	—	29
’23	(12)	0	8	—	18
’22	18	21	60	17	116
’21	18	(7)	51	44	106
’20	—	47	32	—	121

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	—	15	—	—	—
’25	—	(4)	—	—	29
’24	—	12	—	—	28
’23	(12)	0	8	—	17
’22	18	21	59	17	115
’21	18	(8)	51	43	104
’20	—	47	32	—	120

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	—	1.08	—	—	—
’25	—	0.90	—	—	3.77
’24	—	0.81	—	—	1.38
’23	(0.04)	0.10	1.20	—	2.30
’22	1.20	1.50	1.60	(3.90)	0.40
’21	(0.67)	(10.00k)	(5.60)	1.24	(6.40)
’20	—	5.20k	(0.63)	—	(0.04)

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	—	—	—	—	92.50	64.00	62.00	19.00	18.19	8.60	Analyst estimates 2026–2028 Powerpack
	High	—	—	—	—	106.50	132.50	90.00	85.00	42.76	42.20
People
People	Employees	—	—	—	1	1	809	1,044	726	589	475
	Revenue/emp, $m	—	—	—	93.81	260.89	0.54	0.46	0.64	0.71	0.85
Income, $m
Income, $m	Revenue	—	—	—	94	261	434	480	465	421	404
	Gross margin, %	—	—	—	83.24	93.33	95.64	90.82	88.03	87.94	85.97
	EBT	—	—	—	(36)	0	(116)	11	50	30	75
	EBT margin, %	—	—	—	(37.86)	0.04	(26.80)	2.33	10.76	7.14	18.47
	Net income	—	0	—	(36)	(1)	(117)	7	46	26	69
	Depreciation	—	—	—	0	1	3	7	6	6	7
Per share, $
Per share, $	Revenue	—	—	—	5.31	14.77	23.65	24.23	23.53	23.12	22.30
	Earnings	—	—	—	(2.01)	(0.04)	(6.40)	0.40	2.30	1.40	3.82
	Cash flow	—	—	—	0.85	6.83	5.75	5.86	0.91	1.57	1.62
	Capex	—	—	—	(0.01)	(0.01)	(0.08)	(0.05)	(0.04)	(0.02)	(0.02)
	Free cash flow	—	—	—	0.84	6.82	5.67	5.81	0.87	1.54	1.61
	Book value	—	—	—	0.00	(5.77)	(8.78)	(7.51)	(5.06)	(5.58)	(4.99)
	Shares, m	—	—	—	18	18	18	20	20	18	18
Valuation, ×
Valuation, ×	P/E	—	—	—	0.00	0.00	0.00	159.50	0.00	9.34	4.95
	P/S	—	—	—	0.00	0.00	3.41	2.63	0.96	0.76	0.59
	P/B	—	—	—	342.57	0.00	0.00	0.00	0.00	0.00	0.00
	EV/Sales	—	—	—	0.00	0.00	3.08	2.35	0.62	0.47	0.35
	EV/FCF	—	—	—	0.00	0.00	12.84	9.79	22.67	28.95	10.76
Cash, $m
Cash, $m	Operating cash flow	—	—	—	15	121	106	116	18	29	29
	Capex	—	—	—	0	0	(1)	(1)	(1)	0	0
	Free cash flow	—	—	—	15	120	104	115	17	28	29
Balance, $m
Balance, $m	Working capital	—	—	—	—	(113)	(132)	(144)	(89)	(84)	(77)
	Total debt	—	—	—	—	0	1	1	—	—	—
	Net debt	—	—	—	—	(85)	(143)	(137)	(156)	(135)	(108)
	Shareholders’ equity	—	—	—	—	(102)	(161)	(149)	(100)	(102)	(91)
Returns, %
Returns, %	ROA	—	—	—	0.00	(0.71)	(44.78)	2.30	14.35	8.62	27.44
	ROIC	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	ROE	—	—	—	0.00	0.00	89.33	(4.71)	(37.10)	(25.36)	(72.18)

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
PLTK Playtika Holding Corp.	$831.5M	— (loss-making)	6.4×	+5.04% (above 0%: growing)	+44.44% (above 0%: growing)	−90.17% (below 0%: shrinking)	73.62%	18.41%	Compare
DDI DoubleDown Interactive Co., Ltd. Sponsored ADR	$680.1M	5.5×	4.7×	+11.17% (above 0%: growing)	+50.00% (above 0%: growing)	+24.80% (above 0%: growing)	75.54%	38.72%	Compare
GRVY GRAVITY Co., Ltd.	$463.6M	8.2×	—	−17.14% (below 0%: shrinking)	+60.28% (above 0%: growing)	+3,467.78% (above 0%: growing)	32.33%	17.04%	Compare
SOHU Sohu.com Inc.	$328.7M	1.5×	— (loss-making)	+7.34% (above 0%: growing)	n/m	+65.84% (above 0%: growing)	78.64%	(13.50%)	Compare
FIRY Firy Inc.	$192.3M	— (loss-making)	— (loss-making)	+22.92% (above 0%: growing)	n/m	+15.94% (above 0%: growing)	87.38%	(69.59%)	Compare
GDEV GDEV Inc.	$190.2M	2.7×	2.8×	−18.54% (below 0%: shrinking)	+1,000.00% (above 0%: growing)	+4,744.48% (above 0%: growing)	84.44%	21.72%
CTW CTW Cayman	$114.2M	—	—	—	—	−216.27% (below 0%: shrinking)	—	—	Compare
GCL GCL Global Holdings Ltd.	$106.6M	— (loss-making)	—	—	−66.67% (below 0%: shrinking)	−1,222.35% (below 0%: shrinking)	—	—	Compare
MYPS PLAYSTUDIOS, Inc.	$50.2M	— (loss-making)	— (loss-making)	−7.32% (below 0%: shrinking)	n/m	−80.34% (below 0%: shrinking)	80.32%	(17.36%)	Compare
Median of peers	$260.5M	5.5×	—	+6.19%	+47.22%	−32.20%	77.09%	1.77%

All 23 Electronic Gaming & Multimedia stocks →

GDEV Inc. (GDEV) key facts

Concern: GDEV Inc.’s revenue for fiscal 2025 (year ended December 2025) was $404.3 million, down 3.94% from fiscal 2024.
GDEV Inc. (GDEV) is an Electronic Gaming & Multimedia company in the Communication Services sector, listed on Nasdaq.
As of October 16, 2026, GDEV traded at $10.89, a market capitalization of $190.2 million.
Return on equity was −72.2% and debt-to-equity 0.00.
Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 1.41 (distress zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.