GDEV revenueFY2025$404.35M
- FY YoY
- -3.9%
- 5Y CAGR
- +9.2%
GDEV revenue was $404.35M for fiscal 2025 (ended Dec 31, 2025), down 3.9% from fiscal 2024. Compound annual growth was +9.2% over 5 years. It rose in 3 of the last 6 fiscal years.
GDEV Inc. (GDEV) financials
For fiscal 2025 (ended Dec 31, 2025), GDEV Inc. reported $404.35M of revenue and $69.33M of net income.
- Revenue, FY2025
- $404.35M
- Revenue growth, YoY
- -3.9%
- Net income, FY2025
- $69.33M
- Net income growth, YoY
- +171.5%
- Net margin
- 17.1%
- Free cash flow, FY2025
- $29.13M
- EPS, diluted, FY2025
- $3.77
- EPS growth, YoY
- +173.2%
- Cash
- $62.91M
- P/E
- 2.29
- P/S
- 0.39
- Market cap
- $158.8M
FY2019FY2025
FY2019FY2025
FY2019FY2025
GDEV revenue and earnings growth
GDEV net incomeFY2025$69.33M
- FY YoY
- +171.5%
GDEV net income was $69.33M for fiscal 2025 (ended Dec 31, 2025), up 171.5% from fiscal 2024. It rose in 2 of the last 3 fiscal years. Fiscal 2025 is the highest of the 7 fiscal years on file.
GDEV EPSFY2025$3.77
- FY YoY
- +173.2%
GDEV diluted EPS was $3.77 for fiscal 2025 (ended Dec 31, 2025), up 173.2% from fiscal 2024.
GDEV free cash flowFY2025$29.13M
- FY YoY
- +3.4%
- 5Y CAGR
- -24.7%
GDEV free cash flow was $29.13M for fiscal 2025 (ended Dec 31, 2025), up 3.4% from fiscal 2024. Compound annual growth was -24.7% over 5 years. It rose in 4 of the last 6 fiscal years.
Income statement
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 |
|---|---|---|---|---|---|---|---|
| Revenue | $404.35M | $420.93M | $464.55M | $479.69M | $434.09M | $260.89M | $93.81M |
| Selling, general and admin | $34.56M | $31.54M | $31.45M | $39.18M | $23.03M | $3.69M | $2.61M |
| Operating income | $71.13M | $40.50M | $38.36M | $18.85M | -$123.26M | -$1.67M | -$35.76M |
| Interest expense | $84.0K | $76.0K | $61.0K | $116.0K | $91.0K | $45.0K | $96.0K |
| Pre-tax income | $74.70M | $30.04M | $49.99M | $11.17M | -$116.32M | $111.0K | -$35.52M |
| Income tax | $5.37M | $4.51M | $3.88M | $3.76M | $1.13M | $862.0K | $7.0K |
| Net income | $69.33M | $25.53M | $46.12M | $7.30M | -$117.45M | -$751.0K | -$35.53M |
| EPS, basic | $3.82 | $1.40 | $2.34 | $0.37 | -$6.40 | $0.00 | -$2.00 |
| EPS, diluted | $3.77 | $1.38 | $2.30 | $0.37 | -$6.40 | $0.00 | - |
| Diluted shares | 18.4M | 18.4M | 20.0M | 19.8M | 18.4M | 17.7M | - |
Balance sheet
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $62.91M | $111.05M | $71.80M | $86.77M | $142.80M | $84.56M | $17.57M |
| Receivables | $43.52M | $42.13M | $51.90M | $45.37M | $45.09M | $32.97M | - |
| Current assets | $155.05M | $179.60M | $213.88M | $188.87M | $191.15M | $120.68M | - |
| Goodwill | $1.84M | $1.84M | $1.84M | $1.84M | $1.50M | - | - |
| Total assets | $233.11M | $272.20M | $320.55M | $322.04M | $312.98M | $211.55M | - |
| Current liabilities | $231.89M | $263.45M | $302.76M | $332.40M | $322.82M | $233.42M | - |
| Long-term debt | - | - | - | - | - | - | $45.0K |
| Total debt | - | - | - | - | - | $49.0K | $45.0K |
| Total liabilities | $323.68M | $373.73M | $420.37M | $470.82M | $474.03M | $313.46M | - |
| Shareholders' equity | -$90.56M | -$101.53M | -$99.81M | -$148.78M | -$161.05M | -$101.91M | -$48.57M |
Cash flow
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | $29.45M | $28.52M | $17.95M | $116.08M | $105.53M | $120.62M | $14.95M |
| Capital expenditures | $311.0K | $343.0K | $739.0K | $994.0K | $1.10M | $147.0K | $19.0K |
| Free cash flow | $29.13M | $28.18M | $17.21M | $115.09M | $104.43M | $120.48M | $14.94M |
| Investing cash flow | -$22.40M | $55.90M | -$32.46M | -$171.78M | -$2.72M | $361.0K | -$345.0K |
| Financing cash flow | -$57.40M | -$44.94M | -$1.95M | -$1.90M | -$42.98M | -$56.05M | -$156.0K |
| Dividends paid | $55.99M | - | - | - | $160.37M | $51.68M | $4.12M |
| Share repurchases | - | $33.11M | - | - | - | - | - |
| Stock-based compensation | $609.0K | $1.28M | $2.03M | $3.75M | $3.76M | $2.28M | $6.46M |
| Depreciation and amortization | $6.85M | $6.18M | $6.28M | $6.90M | $2.54M | $561.0K | $286.0K |
Key ratios
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 |
|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | -3.9% | -9.4% | -3.2% | 10.5% | 66.4% | 178.1% | - |
| Net income growth, YoY | 171.5% | -44.6% | 531.5% | - | - | - | - |
| EPS growth, YoY | 173.2% | -40.0% | 521.6% | - | - | - | - |
| Operating margin | 17.6% | 9.6% | 8.3% | 3.9% | -28.4% | -0.6% | -38.1% |
| Net margin | 17.1% | 6.1% | 9.9% | 1.5% | -27.1% | -0.3% | -37.9% |
| Free cash flow margin | 7.2% | 6.7% | 3.7% | 24.0% | 24.1% | 46.2% | 15.9% |
| Return on assets | 29.7% | 9.4% | 14.4% | 2.3% | -37.5% | -0.4% | - |
| Current ratio | 0.67 | 0.68 | 0.71 | 0.57 | 0.59 | 0.52 | - |
Income statement
| Line item | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 |
|---|---|---|---|---|
| Net income | -$2.47M | $18.69M | $5.31M | $4.00M |
Balance sheet
| Line item | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 |
|---|---|---|---|---|
| Cash and equivalents | $111.05M | - | - | - |
| Receivables | $42.13M | - | - | - |
| Current assets | $179.60M | - | - | - |
| Goodwill | $1.84M | - | - | - |
| Total assets | $272.20M | - | - | - |
| Current liabilities | $263.45M | - | - | - |
| Total liabilities | $373.73M | - | - | - |
| Shareholders' equity | -$101.53M | - | - | - |
Cash flow
Key ratios
Source: XBRL data GDEV Inc. files with the SEC, latest filing dated Mar 31, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.
* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.
Per-share figures and share counts are restated for stock splits the filings show: 1-for-10, first reported Mar 31, 2025.
EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.
GDEV peers
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| GDEV | $404.35M | -3.9% | $69.33M | 17.1% | $158.8M |
| ADP | $22.26B | +6.5% | $4.53B | 20.3% | $121.25B |
| INFY | $20.16B | +4.6% | $3.31B | 16.4% | $51.92B |
| WDAY | $10.15B | +13.3% | $1.25B | 12.3% | $48.24B |
| ZS | $3.35B | +25.4% | -$63.18M | -1.9% | $33.24B |
| CTSH | $21.89B | +5.0% | $2.57B | 11.8% | $29.75B |
| VRSN | $1.73B | +6.5% | $849.80M | 49.1% | $27.99B |
| VRSK | $3.18B | +4.9% | $879.20M | 27.7% | $27.52B |
| IOT | $1.85B | +29.5% | $90.55M | 4.9% | $24.06B |
GDEV FAQ
8 questionsWhat is GDEV revenue?
GDEV Inc. (GDEV) reported $404.35M of revenue for fiscal 2025 (ended Dec 31, 2025). That is down 3.9% from the year before.Is GDEV profitable?
Yes. GDEV Inc. earned $69.33M in net income for fiscal 2025 (ended Dec 31, 2025), a net margin of 17.1%.How much cash and debt does GDEV have?
GDEV Inc. reported $62.91M in cash and cash equivalents on its most recent balance sheet in SEC filings.How fast is GDEV revenue growing?
GDEV Inc.'s revenue changed -3.9% in fiscal 2025, to $404.35M. Its compound annual growth rate was +9.2% over 5 years.What is GDEV free cash flow?
GDEV Inc. generated $29.13M of free cash flow for fiscal 2025 (ended Dec 31, 2025), which is operating cash flow of $29.45M less capital expenditures.What is GDEV earnings per share?
Diluted earnings per share were $3.77 for fiscal 2025 (ended Dec 31, 2025), from SEC filings, restated for any stock split those filings show.When did GDEV last report financial results?
The latest statements here come from GDEV Inc.'s 20-F filed on Mar 31, 2026, covering the period ended Dec 31, 2025.Where does this GDEV financial data come from?
Quantisnow builds these statements from the structured XBRL data GDEV Inc. files with the SEC. It is provided for information only and is not investment advice.