NASDAQ · Technology

GDEV Inc. (GDEV)

GDEV Inc. reported revenue of $404.3M in fiscal 2025, down 3.9% from a year earlier. Net income was $69.3M, a net margin of 17.1%. Operating cash flow minus capital spending left $29.1M of free cash flow in fiscal 2025. At December 31, 2025 it held $62.9M in cash. Its latest periodic report to the SEC is the annual report (foreign issuer) (20-F) filed on March 31, 2026.

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Price

$9.24

+6.57% on the day · November 9, 2026

52-week range $8.50 to $25.03

Market cap

$167.7M

Revenue (FY2025)

$404.3M

-3.9% year on year

Net margin

17.1%

Key facts about GDEV Inc.

Net worth: GDEV Inc. has a market value (market cap) of $167.7M at the latest share price, and shareholders' equity of -$90.6M on its balance sheet at December 31, 2025. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Revenue and profit: In fiscal 2025 revenue was $404.3M (-3.9% year on year), with net income of $69.3M.
Cash flow: In fiscal 2025 operations brought in $29.4M of cash; after $311K of capital spending, free cash flow was $29.1M.
Latest report: The latest periodic report (annual report (foreign issuer), 20-F) was filed with the SEC on March 31, 2026 and covers the period to December 31, 2025. Open on SEC EDGAR

What GDEV Inc. does

GDEV Inc. is registered with the SEC under industry code SIC 7371 (Services-Computer Programming Services). Its shares trade on NASDAQ under the ticker GDEV.

Revenue and profit by year

Revenue

Net income

Fiscal years as reported in annual reports. Amounts in USD.

Key figures

Fiscal year	Revenue	Operating income	Net income	Diluted EPS	Free cash flow
2025	$404.3M	$71.1M	$69.3M	$3.77	$29.1M
2024	$420.9M	$40.5M	$25.5M	$1.38	$28.2M
2023	$464.5M	$38.4M	$46.1M	$2.30	$17.2M
2022	$479.7M	$18.8M	$7.3M	$0.37	$115.1M
2021	$434.1M	-$123.3M	-$117.5M	-$5.92	$104.4M
2021	$260.9M	-$1.7M	-$751K	$0.00	$120.5M

Earnings: every quarter and the next report date

Full financial statements: income, balance sheet and cash flow

Where GDEV ranks in Technology

Revenue$404.3M

#348 of 751 in Technology · Top 46%

Revenue growth-3.9%

#513 of 604 in Technology · Bottom 15%

Net margin17.1%

#115 of 611 in Technology · Top 19%

Free cash flow margin7.2%

#312 of 568 in Technology · Bottom 45%

Latest fiscal year of every company in the sector with the figure reported. Revenue is ranked among companies reporting in US dollars; growth and margins among companies with at least 10 million of revenue. Technology

Dividends

It paid out $56M in cash dividends, 81% of its net income.

Fiscal year	Per share	Paid out	Of profit
2025	n/a	$56M	81%
2021	n/a	$160.4M	n/a
2021	n/a	$51.7M	n/a
2019	n/a	$4.1M	n/a

Per share as declared (or paid, where only that is reported), adjusted for stock splits the company itself restated. Yield is the latest fiscal year's dividend over the current price.

Latest SEC filings

What GDEV Inc. has filed recently, newest first. Each links to the original document on SEC EDGAR.

September 30, 2026
Form SC TO-I/A filing SC TO-I/A
September 29, 2026
Form SC TO-I/A filing SC TO-I/A
August 31, 2026
Form SC TO-I filing SC TO-I
August 28, 2026
Foreign issuer update 6-K
August 25, 2026
Delisting notice 25-NSE
August 21, 2026
Foreign issuer update 6-K
August 18, 2026
Foreign issuer update (amended) 6-K/A
July 22, 2026
Foreign issuer update 6-K
July 10, 2026
Foreign issuer update 6-K
May 19, 2026
Foreign issuer update 6-K

Recent insider filings (Forms 3, 4 and 144): 10, the latest on September 29, 2026. Insider transactions on SEC

Insider trades

What the people running GDEV Inc. did with its shares, from the Form 4 filings they must send the SEC within two business days.

Insiders sold $200.8K worth of shares in the last 90 days and bought none on the open market.

Bought (open market)

last 90 days

Sold

$200.8K

last 90 days

Net sold

18,209

$200.8K

Date	Insider	What	Shares	Price	Value	Filing
September 28, 2026	Reingold AntonSee Remarks	Sold	18,209	$11.03	$200.8K	Form 4
August 21, 2026	Reingold AntonSee Remarks	Exercised options	22,072	-	-	Form 4
August 21, 2026	Reingold AntonSee Remarks	Shares withheld for tax	3,863	$11.24	$43.4K	Form 4
August 11, 2026	Sheppard Andrew JeremyDirector	Exercised options	7,906	-	-	Form 4
June 3, 2026	Holive Marie Juliette FranceDirector	Sold	10,654	$13.45	$143.3K	Form 4

All insider filings on SEC.gov · Where insiders are buying across the market

Who owns GDEV

Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.

5% holders

Anyone who owns more than 5% of a class of shares must say so on Schedule 13D (if they may seek to influence the company) or 13G (a passive holder). The latest filing of each holder is shown: 13G filings of the last 2 years, 13D of the last 3.

Holder	Of class	Shares	Filed
Andrey Fadeev13D, may seek influence	37%	6,709,391	March 17, 2026

Latest filings below 5%: Boris Gertsovskiy 0% (March 17, 2026).

Largest institutional holders

Positions that investment managers reported on Form 13F for the quarter ended June 30, 2026, largest first, with the change on the quarter ended March 31, 2026. Managers file 13F up to 45 days after a quarter ends. 7 managers reported a position.

Holder	Shares	Value	Change on quarter
Mubadala Investment Co PJSC	374,076	$4.7M	0
AdvisorShares Investments LLC	12,238	$148.9K	-1,000
UBS Group AG	3,752	$47.2K	-1,349
Tower Research Capital LLC (TRC)	256	$3.2K	new
Quarry LP	18	$226	new
Morgan Stanley	12	$151	0
Acadian Asset Management LLC	1,052	$12	-200

Insiders

Reported holdings of insiders who filed a Form 4 in the last 12 months: the shares each one held after their latest reported transaction. This is not the total held by all insiders.

2 insiders reported holding 373,727 shares in total, about $3.5M at the last price.

Holder	Shares	As of
Reingold AntonSee Remarks	365,309	September 28, 2026
Sheppard Andrew JeremyDirector	8,418	August 11, 2026

Schedule 13D/13G filings on SEC.gov

All filings on SEC EDGAR

Questions about GDEV

What does GDEV Inc. do?

GDEV Inc. is a company in the Technology sector, listed on NASDAQ as GDEV. Its shares trade on NASDAQ under the ticker GDEV.

What is GDEV Inc.'s net worth?

GDEV Inc. has a market value (market cap) of $167.7M at the latest share price, and shareholders' equity of -$90.6M on its balance sheet at December 31, 2025. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.

Is GDEV Inc. profitable?

Yes. In fiscal 2025 it reported net income of $69.3M on revenue of $404.3M, a net margin of 17.1%.

How much revenue does GDEV Inc. make?

In fiscal 2025 GDEV Inc. reported revenue of $404.3M. That is 3.9% less than a year earlier.

When did GDEV Inc. last report?

Its most recent periodic report is the annual report (foreign issuer) (20-F) filed on March 31, 2026. It covers the period to December 31, 2025. Its newest filing of any kind is the form SC TO-I/A filing from September 30, 2026.

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Where the numbers come from

Financial figures are the values GDEV Inc. tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.

Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.