GDEV Inc. Ordinary Shares (GDEV)

FairStock Score: 69/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

GDEV is an online game publisher with 488 employees, selling mobile, social, and web games, including role-playing franchises. Gaming is a hits-driven business, and I see no durable moat here—titles can fade, user acquisition costs are high, and competitors are numerous. Still, the numbers invite a closer look. In fiscal Q2 2026, revenue was $93.6 million and net income was $19.9 million, a 21.31% margin, which suggests the current lineup is profitable. For the latest filed annual period, revenue growth was -21.96%, while profit growth was 19.96%, a divergence that says cost cuts or mix shifts are helping earnings even as the top line shrinks. At the 2026-10-13 close of $11.75, FairStock's calculated P/E is 2.86 and PEG is 0.14, with a FairStock Score of 69/100. FairStock's calculated ROCE of 21.77% is attractive. But the balance-sheet warnings are loud: FairStock's calculated Altman Z-Score of -0.13 and Piotroski F-Score of 4/9 point to financial fragility and weak recent fundamentals. No dividend, no P/B, no ROE, no D/E were provided, and the Lynch category is none because there are only 0 years of filed results—need 3. A 52-week range of $10.00-$25.76 shows the market has been volatile and skeptical. I would call this a statistically cheap, unproven special situation: earnings look good today, but revenue decline and weak financial-health signals keep the margin of safety uncertain.

In plain English: GDEV is a Cyprus-based company that makes and publishes online games for mobile, social, and web platforms, including role-playing games. Its latest reported quarter showed a profit, but annual revenue has been shrinking and some health checks look weak, so the business looks mixed. At the recent share price, the stock looks very cheap compared with its reported earnings, though there is no dividend and limited filing history.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer