GAMER NEWS – Devolver Digital’s management wants to delist the company after its shares lost 96.35% of their value since 2021. The board argues that the current price reflects neither the publisher’s real worth nor six consecutive quarters of operational improvement.

Over the years, the independent publisher has turned its name into a quality signal for many players. Individual releases have not all received the same response, but the catalogue has earned an unusually consistent reputation. The stock market, however, has judged that record by a very different standard.

Better results failed to persuade investors

Devolver Digital joined the public market in 2021. Since then, its shares have fallen by 96.35% and now trade at roughly eight euro cents. The company accepts that mass layoffs, sharp volatility and tougher competition have shaken the games sector, yet it believes investors are overlooking the long sales life and recurring revenue that are characteristic of video games.

The directors maintain that “the company’s share price does not reflect its true market value.” Revenue, gross margin and gross profit all improved in 2025 compared with 2024, while the annual report for the year ending in June 2026 highlighted year-on-year revenue growth above 60%. Even so, the cited closing price of £0.16 remained 25% below the £0.215 level recorded after the 2024 annual results.

Trading in the shares has also become extremely thin. According to management, the advantages of remaining listed no longer compensate for the time and expense devoted to legal, regulatory and administrative duties. Shareholders will therefore vote on a delisting proposal that could return Devolver to private ownership.

An indie publisher does not run like a megacorporation

The case raises a broader question about whether public-market expectations suit the video game business at all. Devolver is profitable and has operated effectively, but a portfolio built mainly around smaller projects cannot deliver blockbuster-scale revenue every year. A breakout such as Fall Guys can happen, yet this is not Electronic Arts’ model. Investors still demand continuing share-price growth, while the publisher believes that short-term market logic is failing to recognize the company’s actual progress.

Source: 3DJuegos