Canada's Bragg Gaming Q1 revenue edges up, beats estimates

Bragg Gaming

14/05/2026 12:38

Overview

Canada iGaming technology provider's Q1 revenue grew 0.6% yr/yr, beating analyst expectations

Net loss narrowed to €1.2 mln from €2.6 mln a year earlier

Company completed strategic restructuring, cutting workforce by 12% to reduce costs

Outlook

Bragg Gaming expects 2026 revenue between €97.0 mln and €104.5 mln

Company sees 2026 Adjusted EBITDA of €16.0 mln to €19.0 mln, margin 16%-18%

Bragg Gaming says 2026 outlook excludes impacts from planned Drayton acquisition

Result Drivers

NETHERLANDS AGREEMENT - Short-term uplift in Netherlands revenue driven by fixed PAM agreement with Entain

BRAZIL GROWTH - Brazil revenue rose 33.3% yr/yr on continued growth in provider onboarding

U.S. RECURRING REVENUE - U.S. recurring revenue grew 7.1% yr/yr on expanded proprietary content, but total U.S. revenue declined due to one-off project in prior year

Company press release: ID:nBw3kvbva

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
EUR 25.70 mln
EUR 24.80 mln (3 Analysts)
Q1 EPS
-EUR 0.05
Q1 Net Income
-EUR 1.20 mln
Q1 Adjusted EBITDA
EUR 4 mln
Q1 Adjusted EBITDA Margin
15.7%


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the online services peer group is "buy"

Wall Street's median 12-month price target for Bragg Gaming Group Inc is C$7.00, about 140.5% above its May 13 closing price of C$2.91

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)