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Side-by-side financial comparison of GDEV Inc. (GDEV) and LUXFER HOLDINGS PLC (LXFR). Click either name above to swap in a different company.

GDEV Inc. is the larger business by last-quarter revenue ($119.9M vs $90.7M, roughly 1.3× LUXFER HOLDINGS PLC). GDEV Inc. runs the higher net margin — 13.9% vs -3.4%, a 17.3% gap on every dollar of revenue. On growth, GDEV Inc. posted the faster year-over-year revenue change (13.3% vs -12.3%).

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...

Luxfer Holdings PLC is a global industrial manufacturer specializing in high-performance engineering materials and components. Its core products include lightweight aluminum and composite gas containment systems, advanced alloys, and specialty materials, serving key sectors such as aerospace, healthcare, automotive, industrial manufacturing, and alternative energy worldwide.

GDEV vs LXFR — Head-to-Head

Bigger by revenue
GDEV
GDEV
1.3× larger
GDEV
$119.9M
$90.7M
LXFR
Growing faster (revenue YoY)
GDEV
GDEV
+25.6% gap
GDEV
13.3%
-12.3%
LXFR
Higher net margin
GDEV
GDEV
17.3% more per $
GDEV
13.9%
-3.4%
LXFR

Income Statement — Q2 FY2025 vs Q4 FY2025

Metric
GDEV
GDEV
LXFR
LXFR
Revenue
$119.9M
$90.7M
Net Profit
$16.6M
$-3.1M
Gross Margin
24.4%
Operating Margin
15.5%
3.6%
Net Margin
13.9%
-3.4%
Revenue YoY
13.3%
-12.3%
Net Profit YoY
13.0%
-188.6%
EPS (diluted)
$0.90
$-0.12

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
LXFR
LXFR
Q4 25
$90.7M
Q3 25
$92.9M
Q2 25
$119.9M
$104.0M
Q1 25
$97.0M
Q4 24
$103.4M
Q3 24
$99.4M
Q2 24
$105.8M
$99.7M
Q1 24
$89.4M
Net Profit
GDEV
GDEV
LXFR
LXFR
Q4 25
$-3.1M
Q3 25
$2.7M
Q2 25
$16.6M
$2.6M
Q1 25
$5.5M
Q4 24
$3.5M
Q3 24
$12.7M
Q2 24
$14.7M
$-500.0K
Q1 24
$2.7M
Gross Margin
GDEV
GDEV
LXFR
LXFR
Q4 25
24.4%
Q3 25
23.4%
Q2 25
23.1%
Q1 25
22.1%
Q4 24
22.1%
Q3 24
22.5%
Q2 24
22.1%
Q1 24
20.6%
Operating Margin
GDEV
GDEV
LXFR
LXFR
Q4 25
3.6%
Q3 25
5.8%
Q2 25
15.5%
7.4%
Q1 25
7.8%
Q4 24
3.9%
Q3 24
17.5%
Q2 24
14.4%
3.8%
Q1 24
5.5%
Net Margin
GDEV
GDEV
LXFR
LXFR
Q4 25
-3.4%
Q3 25
2.9%
Q2 25
13.9%
2.5%
Q1 25
5.7%
Q4 24
3.4%
Q3 24
12.8%
Q2 24
13.9%
-0.5%
Q1 24
3.0%
EPS (diluted)
GDEV
GDEV
LXFR
LXFR
Q4 25
$-0.12
Q3 25
$0.10
Q2 25
$0.90
$0.10
Q1 25
$0.20
Q4 24
$0.13
Q3 24
$0.47
Q2 24
$0.81
$-0.02
Q1 24
$0.10

Balance Sheet & Financial Strength

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

Metric
GDEV
GDEV
LXFR
LXFR
Cash + ST InvestmentsLiquidity on hand
$41.6M
$8.3M
Total DebtLower is stronger
$39.4M
Stockholders' EquityBook value
$-129.4M
$226.4M
Total Assets
$210.2M
$369.7M
Debt / EquityLower = less leverage
0.17×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
GDEV
GDEV
LXFR
LXFR
Q4 25
$8.3M
Q3 25
$6.0M
Q2 25
$41.6M
$4.4M
Q1 25
$4.1M
Q4 24
$4.1M
Q3 24
$3.5M
Q2 24
$50.8M
$4.3M
Q1 24
$6.8M
Total Debt
GDEV
GDEV
LXFR
LXFR
Q4 25
$39.4M
Q3 25
$43.3M
Q2 25
$52.6M
Q1 25
$46.0M
Q4 24
$45.1M
Q3 24
$69.5M
Q2 24
$74.2M
Q1 24
$78.4M
Stockholders' Equity
GDEV
GDEV
LXFR
LXFR
Q4 25
$226.4M
Q3 25
$231.6M
Q2 25
$-129.4M
$237.7M
Q1 25
$226.7M
Q4 24
$219.5M
Q3 24
$225.1M
Q2 24
$-118.7M
$206.3M
Q1 24
$210.3M
Total Assets
GDEV
GDEV
LXFR
LXFR
Q4 25
$369.7M
Q3 25
$377.4M
Q2 25
$210.2M
$399.2M
Q1 25
$385.2M
Q4 24
$382.4M
Q3 24
$404.8M
Q2 24
$282.8M
$379.8M
Q1 24
$386.0M
Debt / Equity
GDEV
GDEV
LXFR
LXFR
Q4 25
0.17×
Q3 25
0.19×
Q2 25
0.22×
Q1 25
0.20×
Q4 24
0.21×
Q3 24
0.31×
Q2 24
0.36×
Q1 24
0.37×

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
LXFR
LXFR
Operating Cash FlowLast quarter
$15.6M
Free Cash FlowOCF − Capex
$12.4M
FCF MarginFCF / Revenue
13.7%
Capex IntensityCapex / Revenue
3.5%
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters
$26.2M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
GDEV
GDEV
LXFR
LXFR
Q4 25
$15.6M
Q3 25
$11.8M
Q2 25
$1.2M
Q1 25
$5.4M
Q4 24
$25.5M
Q3 24
$13.0M
Q2 24
$8.9M
Q1 24
$3.7M
Free Cash Flow
GDEV
GDEV
LXFR
LXFR
Q4 25
$12.4M
Q3 25
$10.3M
Q2 25
$-700.0K
Q1 25
$4.2M
Q4 24
$22.5M
Q3 24
$9.8M
Q2 24
$6.2M
Q1 24
$2.3M
FCF Margin
GDEV
GDEV
LXFR
LXFR
Q4 25
13.7%
Q3 25
11.1%
Q2 25
-0.7%
Q1 25
4.3%
Q4 24
21.8%
Q3 24
9.9%
Q2 24
6.2%
Q1 24
2.6%
Capex Intensity
GDEV
GDEV
LXFR
LXFR
Q4 25
3.5%
Q3 25
1.6%
Q2 25
1.8%
Q1 25
1.2%
Q4 24
2.9%
Q3 24
3.2%
Q2 24
2.7%
Q1 24
1.6%
Cash Conversion
GDEV
GDEV
LXFR
LXFR
Q4 25
Q3 25
4.37×
Q2 25
0.46×
Q1 25
0.98×
Q4 24
7.29×
Q3 24
1.02×
Q2 24
Q1 24
1.37×

Financial Flow Comparison

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

Revenue Breakdown by Segment

GDEV
GDEV

Segment breakdown not available.

LXFR
LXFR

Gas Cylinders Segment$43.8M48%
Defense First Response And Healthcare$18.6M21%
Rest Of Europe$9.0M10%
DE$7.0M8%
Asia Pacific$5.8M6%
CA$4.0M4%
Other$2.5M3%

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