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Side-by-side financial comparison of GDEV Inc. (GDEV) and InvenTrust Properties Corp. (IVT). Click either name above to swap in a different company.

GDEV Inc. is the larger business by last-quarter revenue ($119.9M vs $77.4M, roughly 1.5× InvenTrust Properties Corp.). GDEV Inc. runs the higher net margin — 13.9% vs 3.4%, a 10.4% gap on every dollar of revenue. On growth, GDEV Inc. posted the faster year-over-year revenue change (13.3% vs 8.6%).

GDEV Inc. is a gaming and entertainment holding company. It is a publicly traded company listed on the Nasdaq stock exchange, headquartered in Limassol, Cyprus. The holding was evolved in June 2023 from a video game company Nexters, founded in 2014, one of the top five independent mobile game companies in Europe. Subsidiaries of GDEV include Nexters Studio, which operates offices in Cyprus, Armenia, and Kazakhstan, as well as Cubic Games, Royal Ark, Game Gears and Light Hour Games. The compan...

InvenTrust Properties Corp. is a real estate investment trust that invests in shopping malls. As of December 31, 2024, the company owned interests in 68 properties comprising 11.0 million square feet.

GDEV vs IVT — Head-to-Head

Bigger by revenue
GDEV
GDEV
1.5× larger
GDEV
$119.9M
$77.4M
IVT
Growing faster (revenue YoY)
GDEV
GDEV
+4.7% gap
GDEV
13.3%
8.6%
IVT
Higher net margin
GDEV
GDEV
10.4% more per $
GDEV
13.9%
3.4%
IVT

Income Statement — Q2 FY2025 vs Q4 FY2025

Metric
GDEV
GDEV
IVT
IVT
Revenue
$119.9M
$77.4M
Net Profit
$16.6M
$2.7M
Gross Margin
Operating Margin
15.5%
-11.0%
Net Margin
13.9%
3.4%
Revenue YoY
13.3%
8.6%
Net Profit YoY
13.0%
-72.8%
EPS (diluted)
$0.90
$0.02

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
GDEV
GDEV
IVT
IVT
Q4 25
$77.4M
Q3 25
$74.5M
Q2 25
$119.9M
$73.6M
Q1 25
$73.8M
Q4 24
$71.2M
Q3 24
$68.5M
Q2 24
$105.8M
$67.4M
Q1 24
$66.8M
Net Profit
GDEV
GDEV
IVT
IVT
Q4 25
$2.7M
Q3 25
$6.0M
Q2 25
$16.6M
$95.9M
Q1 25
$6.8M
Q4 24
$9.8M
Q3 24
$-539.0K
Q2 24
$14.7M
$1.5M
Q1 24
$2.9M
Operating Margin
GDEV
GDEV
IVT
IVT
Q4 25
-11.0%
Q3 25
-9.8%
Q2 25
15.5%
Q1 25
-10.5%
Q4 24
-3.6%
Q3 24
-18.7%
Q2 24
14.4%
-13.6%
Q1 24
-13.1%
Net Margin
GDEV
GDEV
IVT
IVT
Q4 25
3.4%
Q3 25
8.1%
Q2 25
13.9%
130.4%
Q1 25
9.2%
Q4 24
13.8%
Q3 24
-0.8%
Q2 24
13.9%
2.2%
Q1 24
4.3%
EPS (diluted)
GDEV
GDEV
IVT
IVT
Q4 25
$0.02
Q3 25
$0.08
Q2 25
$0.90
$1.23
Q1 25
$0.09
Q4 24
$0.14
Q3 24
$-0.01
Q2 24
$0.81
$0.02
Q1 24
$0.04

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
GDEV
GDEV
IVT
IVT
Cash + ST InvestmentsLiquidity on hand
$41.6M
Total DebtLower is stronger
$825.9M
Stockholders' EquityBook value
$-129.4M
$1.8B
Total Assets
$210.2M
$2.8B
Debt / EquityLower = less leverage
0.46×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
GDEV
GDEV
IVT
IVT
Q4 25
Q3 25
Q2 25
$41.6M
Q1 25
Q4 24
Q3 24
Q2 24
$50.8M
Q1 24
Total Debt
GDEV
GDEV
IVT
IVT
Q4 25
$825.9M
Q3 25
$764.6M
Q2 25
$746.3M
Q1 25
$740.7M
Q4 24
$740.4M
Q3 24
$740.1M
Q2 24
$812.2M
Q1 24
$827.5M
Stockholders' Equity
GDEV
GDEV
IVT
IVT
Q4 25
$1.8B
Q3 25
$1.8B
Q2 25
$-129.4M
$1.8B
Q1 25
$1.7B
Q4 24
$1.8B
Q3 24
$1.8B
Q2 24
$-118.7M
$1.5B
Q1 24
$1.5B
Total Assets
GDEV
GDEV
IVT
IVT
Q4 25
$2.8B
Q3 25
$2.7B
Q2 25
$210.2M
$2.7B
Q1 25
$2.6B
Q4 24
$2.6B
Q3 24
$2.6B
Q2 24
$282.8M
$2.5B
Q1 24
$2.5B
Debt / Equity
GDEV
GDEV
IVT
IVT
Q4 25
0.46×
Q3 25
0.42×
Q2 25
0.41×
Q1 25
0.42×
Q4 24
0.42×
Q3 24
0.42×
Q2 24
0.53×
Q1 24
0.53×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
GDEV
GDEV
IVT
IVT
Operating Cash FlowLast quarter
$155.4M
Free Cash FlowOCF − Capex
$110.9M
FCF MarginFCF / Revenue
143.3%
Capex IntensityCapex / Revenue
57.5%
Cash ConversionOCF / Net Profit
58.41×
TTM Free Cash FlowTrailing 4 quarters
$193.1M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
GDEV
GDEV
IVT
IVT
Q4 25
$155.4M
Q3 25
$43.8M
Q2 25
$48.7M
Q1 25
$20.2M
Q4 24
$136.9M
Q3 24
$38.4M
Q2 24
$46.7M
Q1 24
$14.8M
Free Cash Flow
GDEV
GDEV
IVT
IVT
Q4 25
$110.9M
Q3 25
$31.4M
Q2 25
$38.0M
Q1 25
$12.8M
Q4 24
$100.8M
Q3 24
$29.3M
Q2 24
$37.2M
Q1 24
$7.7M
FCF Margin
GDEV
GDEV
IVT
IVT
Q4 25
143.3%
Q3 25
42.2%
Q2 25
51.6%
Q1 25
17.4%
Q4 24
141.5%
Q3 24
42.8%
Q2 24
55.2%
Q1 24
11.5%
Capex Intensity
GDEV
GDEV
IVT
IVT
Q4 25
57.5%
Q3 25
16.7%
Q2 25
14.6%
Q1 25
10.0%
Q4 24
50.7%
Q3 24
13.3%
Q2 24
14.0%
Q1 24
10.6%
Cash Conversion
GDEV
GDEV
IVT
IVT
Q4 25
58.41×
Q3 25
7.27×
Q2 25
0.51×
Q1 25
2.97×
Q4 24
13.97×
Q3 24
Q2 24
31.15×
Q1 24
5.10×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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