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GDEV Inc.

GDEV Clue Score55
Virgin Islands, British Fiscal year ends December CIK 0001848739
$11.41 +2.70% Close, 9 Oct 2026
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Price $11.41 +25.18% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 5 Oct 2020. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2019Revenue93.8Operating income−35.8Net income−35.5Fiscal year 2020Revenue260.9 +178.1%Operating income−1.7Net income−0.8EPS, diluted0.00Fiscal year 2021Revenue434.1 +66.4%Operating income−123.3Net income−117.5EPS, diluted−0.64Fiscal year 2022Revenue479.7 +10.5%Operating income18.8Net income7.3EPS, diluted0.37Fiscal year 2023Revenue464.5 −3.2%Operating income38.4Net income46.1 +531.5%EPS, diluted2.30Fiscal year 2024Revenue420.9 −9.4%Operating income40.5Net income25.5 −44.6%EPS, diluted1.38Fiscal year 2025Revenue404.3 −3.9%Operating income71.1Net income69.3 +171.5%EPS, diluted3.77
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 93.8 260.9 434.1 479.7 464.5 420.9 404.3
Growth +178.1% +66.4% +10.5% −3.2% −9.4% −3.9%
Operating income −35.8 −1.7 −123.3 18.8 38.4 40.5 71.1
Net income −35.5 −0.8 −117.5 7.3 46.1 25.5 69.3
Growth +531.5% −44.6% +171.5%
EPS, diluted n/a 0.00 −0.64 0.37 2.30 1.38 3.77

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2019Operating margin−38.1%Net margin−37.9%Free cash flow margin15.9%Fiscal year 2020Operating margin−0.6%Net margin−0.3%Free cash flow margin46.2%Fiscal year 2021Operating margin−28.4%Net margin−27.1%Free cash flow margin24.1%Fiscal year 2022Operating margin3.9%Net margin1.5%Free cash flow margin24.0%Fiscal year 2023Operating margin8.3%Net margin9.9%Free cash flow margin3.7%Fiscal year 2024Operating margin9.6%Net margin6.1%Free cash flow margin6.7%Fiscal year 2025Operating margin17.6%Net margin17.1%Free cash flow margin7.2%
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin −38.1% −0.6% −28.4% 3.9% 8.3% 9.6% 17.6%
Net margin −37.9% −0.3% −27.1% 1.5% 9.9% 6.1% 17.1%
Free cash flow margin 15.9% 46.2% 24.1% 24.0% 3.7% 6.7% 7.2%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2019Operating cash flow15.0Capital expenditure−0.0Free cash flow14.9Dividends paid−4.1Fiscal year 2020Operating cash flow120.6Capital expenditure−0.1Free cash flow120.5 +706.7%Dividends paid−51.7Fiscal year 2021Operating cash flow105.5Capital expenditure−1.1Free cash flow104.4 −13.3%Dividends paid−160.4Fiscal year 2022Operating cash flow116.1Capital expenditure−1.0Free cash flow115.1 +10.2%Fiscal year 2023Operating cash flow18.0Capital expenditure−0.7Free cash flow17.2 −85.0%Fiscal year 2024Operating cash flow28.5Capital expenditure−0.3Free cash flow28.2 +63.7%Buybacks−33.1Fiscal year 2025Operating cash flow29.4Capital expenditure−0.3Free cash flow29.1 +3.4%Dividends paid−56.0
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 15.0 120.6 105.5 116.1 18.0 28.5 29.4
Capital expenditure −0.0 −0.1 −1.1 −1.0 −0.7 −0.3 −0.3
Free cash flow 14.9 120.5 104.4 115.1 17.2 28.2 29.1
Growth +706.7% −13.3% +10.2% −85.0% +63.7% +3.4%
Buybacks n/a n/a n/a n/a n/a −33.1 n/a
Dividends paid −4.1 −51.7 −160.4 n/a n/a n/a −56.0

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2019Cash17.6Total debt0.0Net cash (debt)17.5Shareholders’ equity−48.6Fiscal year 2020Cash84.6Shareholders’ equity−101.9Fiscal year 2021Cash142.8Shareholders’ equity−161.1Fiscal year 2022Cash86.8Shareholders’ equity−148.8Fiscal year 2023Cash71.8Shareholders’ equity−99.8Fiscal year 2024Cash111.0Shareholders’ equity−101.5Fiscal year 2025Cash62.9Shareholders’ equity−90.6
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 17.6 84.6 142.8 86.8 71.8 111.0 62.9
Total debt 0.0 n/a n/a n/a n/a n/a n/a
Net cash (debt) 17.5 n/a n/a n/a n/a n/a n/a
Shareholders’ equity −48.6 −101.9 −161.1 −148.8 −99.8 −101.5 −90.6

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
−38.1% −0.6% −28.4% 3.9% 8.3% 9.6% 17.6%
−37.9% 0.0% −26.8% 2.3% 10.8% 7.1% 18.5%
−37.9% −0.3% −27.1% 1.5% 9.9% 6.1% 17.1%
15.9% 46.2% 24.1% 24.0% 3.7% 6.7% 7.2%
Spending
2.8% 1.4% 5.3% 8.2% 6.8% 7.5% 8.5%
0.0% 0.1% 0.3% 0.2% 0.2% 0.1% 0.1%
n/a 776.6% n/a 33.7% 7.8% 15.0% 7.2%
Returns
n/a −0.4% −37.5% 2.3% 14.4% 9.4% 29.7%
Balance and payout
n/a 148.2% 151.5% 146.2% 131.1% 137.3% 138.8%
n/a n/a n/a n/a n/a n/a 80.8%
27.6% 42.9% 153.6% n/a n/a 117.5% 192.2%