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1. Company Snapshot

1.a. Company Description

GDEV Inc.operates as a gaming and entertainment company in the United States, Europe, Asia, and internationally.It develops desktop, mobile, web, and social games.


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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1.b. Last Insights on GDEV

The recent 3-month performance of GDEV Inc. was negatively impacted by the lack of earnings estimate revisions suggesting further strength in the stock. The company's share price surge in the last session on above-average trading volume may not translate into long-term gains. Furthermore, the absence of recent earnings releases and the focus on leadership changes, such as Andrey Fadeev's appointment as Chairperson of the Board, may indicate a shift in priorities rather than a significant positive development.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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Are Consumer Discretionary Stocks Lagging GDEV Inc. (GDEV) This Year?

Oct -28

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Is GDEV Inc. (GDEV) Stock Outpacing Its Consumer Discretionary Peers This Year?

Sep -23

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GDEV announces results for the second quarter and first half of 2025

Sep -02

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GDEV Strengthens Strategic Partnership with Royal Ark as Zombie Miner Reaches TOP-1 Position in its Genre

Sep -02

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GDEV Management Announces Over $200MM of Fund II Capital Commitments to Scale Distributed Energy Platforms Across North America

Aug -27

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GDEV acquires Light Hour Games to expand its portfolio in mobile casual games

Aug -05

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Are Consumer Discretionary Stocks Lagging GDEV Inc. (GDEV) This Year?

Jun -10

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New Strong Buy Stocks for June 5th

Jun -05

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (1.00%)

6. Segments

Nexters Global Ltd

Expected Growth: 1.0%

Nexters Global Ltd's 1.0 growth is driven by increasing demand for mobile gaming, successful game launches, and expansion into new markets. The company's focus on mid-core games, strong marketing efforts, and strategic partnerships also contribute to its growth. Additionally, the acquisition from GDEV Inc. brings new resources and expertise, further fueling Nexters' growth momentum.

All Other

Expected Growth: 1.0%

GDEV Inc.'s 1.0 growth in All Other segment is driven by increasing demand for emerging technologies, strategic partnerships, and expansion into new markets. Additionally, the company's focus on innovation, cost optimization, and operational efficiency have contributed to this growth.

7. Detailed Products

GDEV Cloud

A cloud-based infrastructure that provides scalable and secure computing resources for businesses.

GDEV Analytics

A data analytics platform that provides insights and visualization tools to help businesses make data-driven decisions.

GDEV CyberShield

A comprehensive cybersecurity solution that protects businesses from advanced threats and vulnerabilities.

GDEV DevOps

A set of tools and services that enable businesses to adopt agile development practices and continuous integration.

GDEV AI Studio

A machine learning platform that enables businesses to build, train, and deploy AI models at scale.

8. GDEV Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for GDEV Inc. is moderate due to the availability of alternative products in the market.

Bargaining Power Of Customers

The bargaining power of customers is high due to the presence of a large number of competitors in the market, giving customers more options to choose from.

Bargaining Power Of Suppliers

The bargaining power of suppliers is low due to the company's large scale of operations and its ability to negotiate better prices with suppliers.

Threat Of New Entrants

The threat of new entrants is moderate due to the presence of barriers to entry, such as high capital requirements and regulatory hurdles.

Intensity Of Rivalry

The intensity of rivalry is high due to the presence of many competitors in the market, leading to a highly competitive environment.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight -2.51%
Debt Cost 7.95%
Equity Weight 102.51%
Equity Cost 7.95%
WACC 7.95%
Leverage -2.45%

11. Quality Control: GDEV Inc. passed 5 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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PlayWay

A-Score: 7.1/10

Value: 4.7

Growth: 8.0

Quality: 9.8

Yield: 9.4

Momentum: 4.0

Volatility: 7.0

1-Year Total Return ->

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GDEV

A-Score: 5.6/10

Value: 6.8

Growth: 6.4

Quality: 7.4

Yield: 8.8

Momentum: 4.0

Volatility: 0.0

1-Year Total Return ->

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Paradox Interactive

A-Score: 4.6/10

Value: 1.9

Growth: 8.2

Quality: 8.4

Yield: 3.1

Momentum: 1.5

Volatility: 4.7

1-Year Total Return ->

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11 bit studios

A-Score: 4.1/10

Value: 5.4

Growth: 4.4

Quality: 6.9

Yield: 0.0

Momentum: 5.5

Volatility: 2.3

1-Year Total Return ->

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Team17

A-Score: 3.9/10

Value: 4.9

Growth: 6.1

Quality: 3.4

Yield: 0.0

Momentum: 6.5

Volatility: 2.3

1-Year Total Return ->

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Stillfront

A-Score: 3.6/10

Value: 9.8

Growth: 4.4

Quality: 3.1

Yield: 0.0

Momentum: 3.5

Volatility: 1.0

1-Year Total Return ->

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

16.06$

Current Price

16.07$

Potential

-0.00%

Expected Cash-Flows