Board Change • May 20
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. Non-Executive Director Igor Bukhman was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Mar 18
Andrey Fadeev agreed to acquire an additional 15.06% stake in GDEV Inc. (NasdaqGM:GDEV) from Boris Gertsovskiy for $20 million. Andrey Fadeev agreed to acquire an additional 15.06% stake in GDEV Inc. (NasdaqGM:GDEV) from Boris Gertsovskiy for $20 million on March 11, 2026. A total cash consideration of $34.12 million will be paid by the buyer. The purchase price shall be paid in installments, $20 million shall be paid at the Closing,$10 million shall be paid by the first anniversary of the date of Closing, $4.125 million shall be paid by the second anniversary of the date of Closing. First installment of $20 million will be paid by bank loan. Before completion, Andrey Fadeev owns 22% stake in GDEV Inc. After completion, Andrey Fadeev will own 37% stake in GDEV Inc. Andrey Fadeev is CEO and Chairperson of the Board of Directors of GDEV Inc.
Andrey Fadeev completed the acquisition of an additional 15.06% stake in GDEV Inc. (NasdaqGM:GDEV) from Boris Gertsovskiy on March 17, 2026. Announcement • Jul 14
GDEV Inc., Annual General Meeting, Aug 29, 2025 GDEV Inc., Annual General Meeting, Aug 29, 2025. Announcement • Jun 24
GDEV Inc. Announces Departure of Olga Loskutova as Chief Operating Officer, Effective July 1, 2025 GDEV Inc. announced that Olga Loskutova will depart from her role as Chief Operating Officer effective July 1, 2025. Since assuming the COO position in October 2024, Ms. Loskutova has successfully established the planning, reporting and cross-studio coordination frameworks that underpin GDEV’s operating model. Announcement • May 06
GDev Inc. Announces the Development of Pixel Gun 2 GDEV Inc. announced the development of Pixel Gun 2, a fully cross-platform sequel to its hit franchise Pixel Gun 3D. The game is developed by Cubic Games, a GDEV portfolio studio. Set to launch in early 2026 on iOS, Android, and Steam, with console versions expected to follow, Pixel Gun 2 promises to deliver a next-generation arena shooter experience while maintaining the beloved pixel-art style that has defined the franchise. The announcement comes as Pixel Gun 3D celebrates its 12th year of operation, having amassed over 300 million installs across all platforms since its 2013 debut. The game maintains a robust community of 3 million monthly active users and has generated more than $230 million in bookings, solidifying its position as one of the top first-person shooter games worldwide by both downloads and bookings, according to data from Appmagic. Pixel Gun 2 will feature: Appealing Casual Arena Shooter Genre: Fast-paced, accessible gameplay that balances competitive depth with pick-up-and-play simplicity, perfect for both casual sessions and serious competition; Enhanced Graphics and Gameplay: Next-generation shooter mechanics while maintaining the franchise's signature pixel-art aesthetic; Full Cross-Platform Play: Seamless gaming experience across iOS, Android, Steam, and eventually consoles; Beloved Legacy, Evolved: Everything you loved about Pixel Gun 3D--its charm, chaos, and creativity - returns sharper, bolder, and better than ever in Pixel Gun 2; Diverse Game Modes: Mix of nostalgic and new maps with many new regimes after launch; Modern Technology Stack: Advanced server architecture and anti-Cheche systems for stable performance, improved security, and a fair gaming environment for all players; Fair Free-to-Play Monetization: The focus on creating a fair and rewarding experience for all players, regardless of how they engage with the game; Pixel Gun 2's predecessor game, Pixel Gun 3D, will continue to receive support and updates, ensuring that the existing player base can enjoy their favorite game while having the option to experience the new sequel. Announcement • Feb 23
GDEV Inc. Approves One-Time, Nonrecurring Special Cash Dividend, Payable on March 11, 2025 GDEV Inc. announced that its Board of Directors has authorized and approved a one-time, nonrecurring special cash dividend of $3.31 per share, representing a yield of approximately 20% based on the volume-weighted average price of the Company's shares for the last 30 trading days prior to announcement. The special dividend is payable on March 11, 2025, to the company's shareholders of record as of the close of business on March 3, 2025. Announcement • Feb 15
GDEV Inc. Announces Board Changes GDEV Inc. announced the appointment of Andrey Fadeev, it's founder and CEO and a member of the Company’s Board of Directors (Board), as Chairperson of the Board, effective immediately. This appointment represents a strategic evolution in the company's leadership structure, designed to strengthen the alignment between strategic oversight and operational execution. As part of this planned transition, Natasha Braginsky Mounier, an independent non-executive director and chairperson of the Board will step down from her position as Independent Chairperson and depart from the Board. The Board will maintain its independent majority, with three out of five directors continuing to serve as independent members, continuing to adhere to best practices for corporate governance and oversight of the Company's operations. Ms. Braginsky Mounier’s membership positions on the GDEV Board’s Committees will, by resolution of the Board, be reassigned among its current independent members: Tal Shoham, who is able to read and understand fundamental financial statements in accordance with Nasdaq audit committee requirements, will take her place on the Audit Committee, while Marie Holive will join the Nomination and Compensation Committee. Announcement • Nov 07
GDEV Inc. to Report Q3, 2024 Results on Nov 14, 2024 GDEV Inc. announced that they will report Q3, 2024 results at 8:00 AM, US Eastern Standard Time on Nov 14, 2024 Announcement • Oct 31
GDEV Inc. Announces Executive Changes GDEV Inc. announces changes to its Board of Directors and executive leadership team as part of its ongoing strategy to enhance operational efficiency and support its global growth ambitions. Olga Loskutova, who has served as an Independent Director on GDEV’s Board since 2022, will be stepping down from her position on the Board of Directors to assume the role of Chief Operating Officer (COO) of GDEV. Olga brings with her a wealth of experience in global business and general management, positioning her to provide management, leadership, and vision to guide GDEV Inc. towards meeting both its short-term and long-term strategic goals. Following Olga’s transition, GDEV’s Board will consist of six members, with four remaining independent directors. In addition, Olga’s seat on the Nomination and Compensation Committee, on which she previously served, has been assumed by current independent director Tal Shoham. Announcement • Sep 14
GDEV Inc. has filed a Follow-on Equity Offering. GDEV Inc. has filed a Follow-on Equity Offering.
Security Name: Common Stock
Security Type: Common Stock
Transaction Features: At the Market Offering Announcement • Aug 29
GDEV Inc. to Report Q2, 2024 Results on Sep 04, 2024 GDEV Inc. announced that they will report Q2, 2024 results at 8:00 AM, Eastern Daylight on Sep 04, 2024 Announcement • Jul 22
GDEV Inc., Annual General Meeting, Aug 23, 2024 GDEV Inc., Annual General Meeting, Aug 23, 2024, at 15:00 GTB Standard Time. Location: 55, griva digeni, cyprus., limassol, Cyprus Valuation Update With 7 Day Price Move • May 28
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to US$2.31, the stock trades at a trailing P/E ratio of 9.1x. Average trailing P/E is 17x in the Entertainment industry in the US. Total loss to shareholders of 77% over the past three years. Announcement • May 24
GDEV Inc. to Report Q1, 2024 Results on May 28, 2024 GDEV Inc. announced that they will report Q1, 2024 results at 4:00 PM, Eastern Standard Time on May 28, 2024 Announcement • Apr 09
Gdev Inc. Launches of the Iconic Mobile Title Pixel Gun 3D on Pc Platform GDev Inc. announced the successful launch of the iconic mobile title Pixel Gun 3D on PC platform. The game was launched on Steam April 2, entering on debut the Top 20 most sold and Top 50 most played games. The peak concurrent Steam users count reached 25,000 players on the first day of release. The Steam version of Pixel Gun 3D recouped its PC platform development costs within the first day of release, making 5 times the average daily in-app purchases of the mobile version. The results were achieved without significant marketing investments, capitalizing on strong brand awareness across the globe. The PC version of Pixel Gun 3D offers enhanced graphics, as well as full cross-platform multiplayer functionality with mobile. Reported Earnings • Mar 31
Full year 2023 earnings released: EPS: US$0.23 (vs US$0.037 in FY 2022) Full year 2023 results: EPS: US$0.23 (up from US$0.037 in FY 2022). Revenue: US$464.5m (down 3.2% from FY 2022). Net income: US$46.1m (up US$38.8m from FY 2022). Profit margin: 9.9% (up from 1.5% in FY 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has fallen by 39% per year, which means it is significantly lagging earnings. Announcement • Dec 20
GDEV Inc. (NasdaqGM:GDEV) announces an Equity Buyback for 20,000,000 shares, representing 10.13% for $40 million. GDEV Inc. (NasdaqGM:GDEV) announces a share repurchase program. Under the program, the company will repurchase up to 20,000,000 shares, representing 10.13% of its issued share capital. The shares will be repurchased at a purchase price of $2 per share. The purpose of the offer is to return capital to its shareholders. The repurchased shares will be held by company as treasury shares and will be available for issue in the future without further shareholder action for purposes including, without limitation, acquisitions, raising additional capital and the satisfaction of obligations under existing or future employee benefit or compensation programs or share plans or compensation programs for directors, officers and employees. The offer will be funded from funds available from cash and cash equivalents. The company may, at its option, accept for payment an additional number of shares not to exceed 2% of the total number of outstanding shares (exclusive of any shares held by or for company account) without extending the Offer. The offer is valid till January 18, 2024. As of December 18, 2023, the company had197,434,304 shares issued and outstanding. Reported Earnings • Nov 24
Third quarter 2023 earnings released: EPS: US$0.12 (vs US$0.17 in 3Q 2022) Third quarter 2023 results: EPS: US$0.12 (down from US$0.17 in 3Q 2022). Revenue: US$121.3m (down 2.8% from 3Q 2022). Net income: US$23.7m (down 31% from 3Q 2022). Profit margin: 20% (down from 27% in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 33% per year, which means it is significantly lagging earnings. Reported Earnings • Oct 01
First half 2023 earnings released: EPS: US$0.06 (vs US$0.33 in 1H 2022) First half 2023 results: EPS: US$0.06 (down from US$0.33 in 1H 2022). Revenue: US$234.1m (down 7.0% from 1H 2022). Net income: US$11.3m (down 82% from 1H 2022). Profit margin: 4.8% (down from 26% in 1H 2022). Valuation Update With 7 Day Price Move • Sep 18
Investor sentiment deteriorates as stock falls 34% After last week's 34% share price decline to US$2.81, the stock trades at a trailing P/E ratio of 76x. Average trailing P/E is 21x in the Entertainment industry in the US. Buying Opportunity • Aug 30
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 28%. The fair value is estimated to be US$6.35, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 38% over the last 3 years. Meanwhile, the company has become profitable. Announcement • Jul 24
GDEV Inc., Annual General Meeting, Aug 25, 2023 GDEV Inc., Annual General Meeting, Aug 25, 2023, at 08:00 US Eastern Standard Time. Agenda: To confirm appointment of KPMG Certified Auditors S.A. (KPMG), as the Company's auditors in accordance with the provisions of Section 153 of the Companies Law Cap 113 to hold office from the conclusion of this AGM until the Members appoint another auditor; to confirm the appointment of KPMG, as the Company's auditor in accordance with the provisions of section 153 of the Companies Law Cap 113 to hold office from the conclusion of this AGM until the Members appoint another auditor; to consider election of Directors; and to consider other matters. Reported Earnings • Jun 26
Full year 2022 earnings released: EPS: US$0.04 (vs US$0.64 loss in FY 2021) Full year 2022 results: EPS: US$0.04 (up from US$0.64 loss in FY 2021). Revenue: US$479.7m (up 11% from FY 2021). Net income: US$7.30m (up US$124.8m from FY 2021). Profit margin: 1.5% (up from net loss in FY 2021). New Risk • Jun 09
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (24% average weekly change). Negative equity (-US$74m). Minor Risks Latest financial reports are more than 6 months old (reported September 2022 fiscal period end). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • May 25
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to US$6.20, the stock trades at a trailing P/E ratio of 10.8x. Average trailing P/E is 20x in the Entertainment industry in the US. Buying Opportunity • May 13
Now 22% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be US$10.24, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 43% over the last 3 years. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • Apr 23
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to US$5.70, the stock trades at a trailing P/E ratio of 9.9x. Average trailing P/E is 21x in the Entertainment industry in the US. Valuation Update With 7 Day Price Move • Apr 01
Investor sentiment improves as stock rises 75% After last week's 75% share price gain to US$6.79, the stock trades at a trailing P/E ratio of 11.8x. Average trailing P/E is 24x in the Entertainment industry in the US. Board Change • Mar 17
High number of new and inexperienced directors There are 8 new directors who have joined the board in the last 3 years. The company's board is composed of: 8 new directors. No experienced directors. No highly experienced directors. Independent Chairman Natasha Mounier is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.