Devolver Digital, Inc. (DEVO) AI Stock Analysis

• Market Cap: £123.37M
• Dividend Yield: N/A
• Average Volume (3M): 64.30K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.05
• Revenue Growth: -10.51%
• EPS Growth: -63.78%
• Country: UK
• Employees: 235
• Sector: Communication Services
• Sector Strength: 97
• Industry: Electronic Gaming & Multimedia
• EPS (TTM): -0.02
• Shares Outstanding: 474,500,240
• 10 Day Avg. Volume: 125,944
• 30 Day Avg. Volume: 64,304
• PEG Ratio: 0.42
• Price to Book (P/B): 0.85
• Price to Sales (P/S): 1.34
• P/FCF Ratio: -16.59
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0

• Rating: 60 Neutral
• Price Target: 27.00p ▲(10.20% Upside)

The overall stock score of 60 reflects a stable financial position and improving cash flow, but is weighed down by profitability challenges and a negative P/E ratio. Technical indicators suggest a generally positive trend, though short-term momentum is weak. The lack of earnings call data and corporate events limits additional insights.

Devolver Digital, Inc. Business Overview & Revenue Model

Company Description

Devolver Digital, Inc. is an independent video game publisher based in Austin, Texas, known for its innovative and often unconventional approach to game publishing. The company specializes in the digital distribution of video games across various platforms, including PC, consoles, and mobile devices. Devolver Digital has built a reputation for supporting unique and indie developers, offering a diverse portfolio of games that range from quirky indie titles to critically acclaimed hits. Their core products include a variety of games across genres, such as action, adventure, and narrative-driven experiences.

How the Company Makes Money

Devolver Digital generates revenue primarily through the sale of video games. Their revenue model is based on a mix of direct game sales, digital downloads, and royalties from physical sales. The company partners with indie developers to publish their games, often taking a percentage of sales in exchange for marketing support, distribution, and funding. Additionally, Devolver Digital benefits from revenue through merchandise sales, licensing deals, and limited edition physical releases. The company's strong presence on digital storefronts like Steam, Epic Games Store, and console marketplaces contributes significantly to their earnings, alongside potential revenue from game expansions and downloadable content (DLC).

Devolver Digital, Inc. Financial Statement Overview

Summary

Devolver Digital demonstrates stable financial health with a strong equity position and improving cash flow from operations. However, challenges with profitability and free cash flow necessitate stronger cost control and revenue management strategies.

Income Statement

Devolver Digital has shown some revenue growth from 2023 to 2024, but profitability remains a challenge with negative net income and declining gross profit margins. While the EBITDA margin is positive, EBIT remains negative, indicating operational inefficiencies or high non-cash charges.

Balance Sheet

The company maintains a solid equity base with a high equity ratio, indicating financial stability. The debt-to-equity ratio is low, suggesting manageable leverage. However, there has been a decrease in stockholders' equity over the years.

Cash Flow

Operating cash flow has improved, reflecting better cash generation capabilities. However, free cash flow remains negative due to high capital expenditures, which could be a concern if this trend continues.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	104.78M	92.36M	134.56M	98.15M	212.74M
Gross Profit	30.07M	24.52M	22.50M	39.23M	91.69M
EBITDA	18.84M	-3.90M	13.80M	-56.73M	84.24M
Net Income	-6.14M	-12.74M	-91.50M	30.55M	64.09M
Balance Sheet
Total Assets	201.22M	196.81M	194.82M	279.14M	113.18M
Cash, Cash Equivalents and Short-Term Investments	42.11M	42.65M	79.49M	86.24M	43.53M
Total Debt	1.10M	1.03M	0.00	0.00	240.00K
Total Liabilities	35.99M	38.77M	22.55M	33.67M	41.66M
Stockholders Equity	165.54M	158.12M	170.73M	245.54M	71.51M
Cash Flow
Free Cash Flow	-8.44M	-13.98M	-2.42M	-50.25M	50.08M
Operating Cash Flow	22.26M	11.73M	30.29M	-15.90M	72.25M
Investing Cash Flow	-30.70M	-45.97M	-32.71M	60.46M	-25.39M
Financing Cash Flow	10.21M	-5.50M	-1.72M	-1.85M	-15.76M

Devolver Digital, Inc. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 24.50
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:DEVO, the sentiment is Positive. The current price of 24.5 is below the 20-day moving average (MA) of 25.60, below the 50-day MA of 25.10, and above the 200-day MA of 22.87, indicating a bullish trend. The MACD of 0.13 indicates Negative momentum. The RSI at 58.95 is Neutral, neither overbought nor oversold. The STOCH value of 72.22 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:DEVO.

Devolver Digital, Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
EVPL	―	$579.21M	26.55	8.06%	0.94%	-6.90%	―
FDEV	―	£192.39M	12.55	19.06%	―	1.49%	―
Sector *	―	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
DEVO	―	£123.37M	―	-8.33%	―	-10.51%	-63.78%
TBLD	―	£30.48M	―	-22.74%	―	-20.54%	86.22%

Devolver Digital, Inc. Corporate Events

Devolver Digital Launches 2025 Equity Incentive Plan to Drive Leadership Performance

Devolver Digital, Inc. has announced the implementation of its 2025 Equity Incentive Plan, designed to motivate leadership-level employees by granting stock options that vest over three years. The plan, approved in a recent shareholder meeting, aims to enhance shareholder value and involves options representing 4.6% of the company’s share capital. The awards, which include a significant allocation to management and senior employees, are structured to manage dilution through the use of treasury shares and an Employee Benefit Trust.

The most recent analyst rating on (GB:DEVO) stock is a Hold with a £27.00 price target. To see the full list of analyst forecasts on Devolver Digital, Inc. stock, see the GB:DEVO Stock Forecast page.

Devolver Digital Successfully Passes Resolutions at Special Meeting

Devolver Digital announced that all resolutions proposed at their recent Special Meeting were successfully passed. This development reflects the company’s strategic direction and may impact its operational and market positioning, reinforcing its commitment to growth and innovation in the indie video games industry.

The most recent analyst rating on (GB:DEVO) stock is a Hold with a £27.00 price target. To see the full list of analyst forecasts on Devolver Digital, Inc. stock, see the GB:DEVO Stock Forecast page.

Devolver Digital Announces Special Meeting to Revise Equity Incentive Plans

Devolver Digital, Inc. has announced a Special Meeting scheduled for October 24, 2025, to seek shareholder approval for proposed changes to its equity incentive plans. The company aims to re-incentivize its staff by adjusting the terms of underwater stock options and warrants, introducing a new 2025 Equity Incentive Plan, and maintaining the 2022 Long-Term Incentive Plan. These measures are intended to align employee incentives with the company’s market value and support its growth trajectory, potentially impacting its operational dynamics and shareholder value.

The most recent analyst rating on (GB:DEVO) stock is a Buy with a £25.00 price target. To see the full list of analyst forecasts on Devolver Digital, Inc. stock, see the GB:DEVO Stock Forecast page.

Devolver Digital Reports Resilient First Half of 2025 with Strong Outlook

Devolver Digital announced its unaudited results for the first half of 2025, showing resilient revenues despite a challenging prior year. The company is on track to meet its full-year guidance, with a strong release pipeline for the second half of 2025, including at least eight new titles. Devolver’s new releases have received high Metacritic ratings, indicating quality and future potential. The company is optimistic about the upcoming Nintendo Switch 2 platform, with several games set to launch on it. Despite a net loss, Devolver maintains a healthy cash position and is focused on cost discipline, with a significant portion of its revenue expected in the second half of the year.

The most recent analyst rating on (GB:DEVO) stock is a Buy with a £25.00 price target. To see the full list of analyst forecasts on Devolver Digital, Inc. stock, see the GB:DEVO Stock Forecast page.

Devolver Digital to Announce Half-Year Financial Results

Devolver Digital, Inc. announced that it will release its unaudited financial results for the first half of 2025 on September 29, 2025. This announcement is significant as it provides stakeholders with insights into the company’s financial health and operational performance, potentially impacting its market positioning and investor relations.

The most recent analyst rating on (GB:DEVO) stock is a Buy with a £25.00 price target. To see the full list of analyst forecasts on Devolver Digital, Inc. stock, see the GB:DEVO Stock Forecast page.