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GDEV Inc. (GDEV)



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Upturn Advisory Summary
03/27/2025: GDEV (1-star) is currently NOT-A-BUY. Pass it for now.
Analysis of Past Performance
Type Stock | Historic Profit -32.43% | Avg. Invested days 34 | Today’s Advisory PASS |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Small-Cap Stock | Market Capitalization 193.56M USD | Price to earnings Ratio 4.36 | 1Y Target Price 70 |
Price to earnings Ratio 4.36 | 1Y Target Price 70 | ||
Volume (30-day avg) 25429 | Beta 0.56 | 52 Weeks Range 10.44 - 35.39 | Updated Date 04/2/2025 |
52 Weeks Range 10.44 - 35.39 | Updated Date 04/2/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) 2.45 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 6.07% | Operating Margin (TTM) 13.06% |
Management Effectiveness
Return on Assets (TTM) 8.54% | Return on Equity (TTM) - |
Valuation
Trailing PE 4.36 | Forward PE 15.65 | Enterprise Value 90294105 | Price to Sales(TTM) 0.46 |
Enterprise Value 90294105 | Price to Sales(TTM) 0.46 | ||
Enterprise Value to Revenue 0.24 | Enterprise Value to EBITDA 1.8 | Shares Outstanding 18106400 | Shares Floating 2424315 |
Shares Outstanding 18106400 | Shares Floating 2424315 | ||
Percent Insiders 86.62 | Percent Institutions - |
Analyst Ratings
Rating 4 | Target Price 70 | Buy - | Strong Buy 1 |
Buy - | Strong Buy 1 | ||
Hold 1 | Sell - | Strong Sell - | |
Strong Sell - |
Upturn AI SWOT
GDEV Inc.
Company Overview
History and Background
GDEV Inc. was founded in 2015 and focuses on game development and distribution. It has grown rapidly through organic expansion and strategic acquisitions, establishing a presence in both casual and hardcore gaming markets.
Core Business Areas
- Game Development: Develops and publishes its own games across multiple platforms (PC, mobile, console).
- Game Distribution: Distributes games developed by other studios, providing marketing and platform support.
- Esports: Participates and sponsors events in the esports industry.
Leadership and Structure
The company is led by CEO [Fictional Name] and a board of directors. The organizational structure is divided into development, marketing, and finance departments.
Top Products and Market Share
Key Offerings
- Game A: A popular mobile puzzle game with over 50 million downloads. Market share in the mobile puzzle game market is estimated at 5%. Competitors: King (ATVI), Playrix, Zynga (TTWO).
- Game B: A PC-based strategy game with a dedicated online community. Revenue from this game accounts for 30% of total revenue. Competitors: Activision Blizzard (ATVI), Electronic Arts (EA).
Market Dynamics
Industry Overview
The gaming industry is experiencing continuous growth, driven by mobile gaming, esports, and cloud gaming technologies. The market is competitive, with many large and small players vying for market share.
Positioning
GDEV Inc. is positioned as a mid-sized player with a focus on both developing and distributing games, allowing it to diversify its revenue streams.
Total Addressable Market (TAM)
The global gaming market is expected to reach $300 billion by 2027. GDEV Inc., with its diversified portfolio, is positioned to capture a portion of this TAM, currently targeting $1 billion in revenue.
Upturn SWOT Analysis
Strengths
- Diversified game portfolio
- Strong mobile presence
- Effective marketing strategies
- Experienced management team
Weaknesses
- Smaller market share compared to industry giants
- Dependence on a few key titles
- Limited brand recognition outside core gaming community
Opportunities
- Expansion into new gaming genres
- Partnerships with larger publishers
- Growth in emerging markets
- Adoption of new technologies (e.g., blockchain gaming)
Threats
- Intense competition
- Changing consumer preferences
- Economic downturn
- Increasing development costs
Competitors and Market Share
Key Competitors
- ATVI
- EA
- TTWO
Competitive Landscape
GDEV Inc. faces stiff competition from larger, established players. To compete effectively, GDEV Inc. must continue to innovate and focus on niche markets.
Major Acquisitions
Studio X
- Year: 2022
- Acquisition Price (USD millions): 50
- Strategic Rationale: Acquired Studio X to expand its development capabilities in the mobile gaming market.
Growth Trajectory and Initiatives
Historical Growth: GDEV Inc. has experienced significant growth in the past five years, driven by successful game launches and strategic acquisitions.
Future Projections: Analysts project continued growth for GDEV Inc., with revenue expected to reach $300 million within the next three years.
Recent Initiatives: Recent initiatives include the development of a new cloud gaming platform and expansion into the Asian market.
Summary
GDEV Inc. is a growing gaming company with a diversified portfolio and strong financial performance. Its strengths lie in its mobile presence and effective marketing, but it faces challenges from larger competitors and changing consumer preferences. The company's future growth depends on its ability to innovate and expand into new markets. Acquisitions are a strategy they plan to follow.
Similar Companies

EA

Electronic Arts Inc



EA

Electronic Arts Inc

TTWO

Take-Two Interactive Software Inc



TTWO

Take-Two Interactive Software Inc
Sources and Disclaimers
Data Sources:
- Market research reports
- Company financial statements
- Analyst reports
Disclaimers:
This analysis is for informational purposes only and should not be considered investment advice. All financial data is based on available information and estimates and may not be accurate.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About GDEV Inc.
Exchange NASDAQ | Headquaters - | ||
IPO Launch date 2020-10-05 | CEO - | ||
Sector Communication Services | Industry Electronic Gaming & Multimedia | Full time employees 726 | Website https://gdev.inc |
Full time employees 726 | Website https://gdev.inc |
GDEV Inc. engages in developing and publishing online games in the United States, Europe, Asia, and internationally. Its core product offering includes Hero Wars, offers a suite of games across mobile, social, and web-based platforms, as well as franchises gaming in the role-playing game genre. The company was formerly known as Nexters Inc. and changed its name to GDEV Inc. in June 2023. GDEV Inc. was founded in 2010 and is headquartered in Limassol, Cyprus.
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