GDEV (GDEV)

Thursday

6:20 AM

ThesisRecent trends in user acquisition costs and increased competition are raising concerns about future profitability, overshadowing positive engagement metrics.

Revenue Outlook

Metric	FY2025	FY2026E	FY2027E
Revenue	$404M	$435M	$465M
Rev. Growth	-3.9%	+7.6%	+6.9%
EPS	$3.81	$4.58	$5.21
EPS Growth	+172%	+20.2%	+13.8%
P/E (fwd)	3.0×	2.5×	2.2×

★ Analysts see FY2026 revenue reaching $435M — +7.6% growth in a single year.

What Moves the Stock

01User acquisition costs and their impact on profitability
02Launch of new game titles and updates
03Trends in mobile gaming engagement metrics
04Changes in advertising revenue from partnerships
05In-game purchases (approximately 70% of total revenue)
06Advertising revenue (approximately 20% of total revenue)
07Subscription services (approximately 10% of total revenue)
08Mobile gaming expansion

FY2025 Snapshot

Revenue: $404M
Rev. Growth: -3.9%
Gross Margin: 65.0%
Op. Margin: 17.6%
Net Margin: 17.1%
Net Income: $69M
NI Growth: +172%
EPS: $3.81
1Y Return: -25.3%

My Notes

"Management noted, 'While we see strong engagement, rising costs are a growing concern.'"
Moat: GDEV's competitive advantage is moderate, relying on unique game titles but facing significant competition from larger…
growth - the potential for rapid revenue growth from new game launches and user engagement attracts growth-oriented investors.
Low - GDEV's business model is not heavily reliant on financing, but higher rates could impact consumer spending on games.
Watch on earnings: Monthly active users (MAU), Average revenue per user (ARPU), User acquisition costs.

One Sentence Summary:

GDEV: the story is balanced — user acquisition costs and their impact on profitability.

Auto-composed from Stock Alarm intelligence, financial statements, and analyst estimates. Not investment advice.

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GDEV (GDEV)

Revenue Outlook

What Moves the Stock

GDEV Chart

My Notes

One Sentence Summary:

Explore More

GDEV (GDEV)

Revenue Outlook

What Moves the Stock

GDEV Chart

My Notes

One Sentence Summary: