Canada's Bragg Gaming Q2 revenue falls on Netherlands contract rolloff

Bragg Gaming

13/08/2026 12:42

Overview
Canada igaming technology provider's Q2 revenue fell 12% yr/yr, missing analyst expectations
Adjusted EBITDA was flat yr/yr, with margin rising due to cost reductions
Company withdrew 2026 financial guidance after Drayton International acquisition

Outlook
Company withdraws previously issued 2026 revenue and Adjusted EBITDA guidance after Drayton acquisition
Bragg says it lacks a reasonable basis to forecast the combined business for the remainder of 2026
Company's focus is on integrating Drayton and establishing a new operating model and cost base

Result Drivers
NETHERLANDS CONTRACT ROLLOFF - Co said Netherlands revenue fell 14% yr/yr due to expected end of legacy platform contracts after customer migrations
NORTH AMERICA CONTENT GROWTH - Revenue from proprietary content in Canada and the U.S. rose 44% yr/yr and 25% from Q1
COST REDUCTIONS - Adjusted EBITDA margin expanded due to compensation savings from headcount reductions and a favorable change in bad debt provisions

Company press release: ID:nBw2Sy5W5a

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Miss
EUR 22.90 mln
EUR 24.07 mln (4 Analysts)
Q2 Loss Per Share
 
EUR 0.11
 
Q2 Net Loss
 
EUR 2.90 mln
 
Q2 Adjusted EBITDA
 
EUR 3.50 mln
 

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$6.80, about 174.2% above its August 12 closing price of C$2.48

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Aug 11 - South Korea's DoubleDown Q2 revenue beats estimates, helped by WHOW Games contribution

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(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.)