GDEV Inc. develops and publishes online games in the United States, Europe, Asia, and internationally. Its core product offering includes Hero Wars, offers a suite of games across mobile, social, and web-based platforms, as well as franchises gaming in the role-playing game genre. The company was formerly known as Nexters Inc. and changed its name to GDEV Inc. in June …
Full GDEVW analysis →
Competitive advantage assessment
Key strengths
Scale Supporting ProfitabilityProfitability at scale is strong (score 0.72), demonstrating competitive advantages.
Cost Leadership PositionOperating margin at 88.0th percentile with strong OpEx control demonstrates cost leadership.
Key risks
ROIC Below WACC or PeersROIC at 8.7th percentile suggests inefficient capital deployment.
Liquidity ConcernsLiquidity is concerning (score 0.20), raising questions about short-term obligations.
The dashed ring is the peer median. Defense scores are percentile ranks
against peers, so 50 is roughly the typical company in this group.
Upgrade to unlock the signals and evidence behind each defense.
Premium access
Unlock full defense analysis
Get key signals, strengths, and risks for every moat dimension.
Where GDEVW ranks in Electronic Gaming & Multimedia
Nexters Inc. Warrant ranks #11 of 26
scored companies in Electronic Gaming & Multimedia by moat score — the top 42%.
The widest moat in the group is NetEase, Inc. (NTES)
at 83/100.
Moat scores for companies ranked near GDEVW in Electronic Gaming & Multimedia
How GDEVW scores on the Corporate Default defenses
Pricing Power
Score 62
· 20% of the moat score
Pricing power is the ability to raise prices without losing volume.
Cost Advantage
Score 62
· 15% of the moat score
A cost advantage means delivering the same product for structurally less — better purchasing, denser distribution, a more automated process.
Customer Stickiness
Score 55
· 15% of the moat score
Stickiness is what makes revenue repeat without being re-won every year.
Capital Efficiency
Score 18
· 18% of the moat score
Capital efficiency asks what the company earns on the money tied up in the business.
Resilience
Score 54
· 17% of the moat score
Resilience is the capacity to get through a bad year on its own terms — enough liquidity, enough interest cover, and enough cash generation to avoid a rescue financing or a forced sale.
Scale & Market Position
Score 74
· 15% of the moat score
Scale matters only when it converts into economics.
Nexters Inc. Warrant (GDEVW) scores 53 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as moderate. It ranks #11 of 26 scored companies in Electronic Gaming & Multimedia, the top 42%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 25 companies in Electronic Gaming & Multimedia. Its strongest defense is Scale & Market Position (74/100) and its weakest is Capital Efficiency (18/100).
How does Nexters Inc. Warrant compare with other Electronic Gaming & Multimedia companies?
Nexters Inc. Warrant ranks #11 of 26 scored companies in Electronic Gaming & Multimedia by moat score. The widest moat in Electronic Gaming & Multimedia is NetEase, Inc. (NTES) at 83/100. The companies ranked closest are PLAYSTUDIOS, Inc. (MYPSW) at 55 just above it and GDEV Inc. (GDEV) at 53 just below it.
How is the moat score calculated?
Each company is scored with an industry-specific template — Corporate Default in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 25 companies in Electronic Gaming & Multimedia. The defenses are then weighted to produce the overall score out of 100.
Why is Nexters Inc. Warrant scored with the Corporate Default template?
Most public companies sell a product or a service at a margin, so the moat question is whether that margin survives contact with competitors. The Corporate template scores the six defenses that show up in a general operating company's financial signature: whether it can hold price, produce more cheaply than rivals, keep its customers, earn a return above its cost of capital, withstand a downturn, and turn size into economics.
Which competitive defenses are measured for Nexters Inc. Warrant?
The Corporate Default template measures 6 defenses, and GDEVW scores: Pricing Power (62), Cost Advantage (62), Customer Stickiness (55), Capital Efficiency (18), Resilience (54), Scale & Market Position (74). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.
We value your privacy
We use cookies to enhance your browsing experience, analyze site traffic, and personalize content. By clicking 'Accept All', you consent to our use of cookies.
Read our cookie policy
Cookie Preferences
Manage your cookie preferences. Essential cookies are always enabled.