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Betsson
Betsson (BETS) investor relations material
Betsson Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary5 Feb, 2026
Executive summary
Q4 2025 revenue was EUR 304 million, down 1% year-over-year, with EBIT at EUR 53 million and an EBIT margin of 17.5%.
Full-year 2025 revenue reached EUR 1.197 billion, up 8% year-over-year, with EBITDA at EUR 314 million and net income at EUR 182 million, both down 1% year-over-year.
Casino revenue rose 3% year-over-year, while sportsbook revenue declined 9% and margin fell to 8.8%.
Growth was driven by Western Europe and Latin America, while Nordics and CEECA declined.
Share of revenue from locally regulated markets increased to 68%, resulting in higher gaming taxes.
Financial highlights
Q4 gross profit was EUR 184 million, with a margin of 60.5% (down from 65%).
EBITDA, EBIT, net income, and EPS were each 1% lower year-over-year.
Q4 operating income decreased 24% year-over-year; net income for Q4 was EUR 35 million, down 34%.
Active customers increased by 5% year-over-year to 1.4 million.
Net cash position at year-end was EUR 158 million; cash and cash equivalents were EUR 322.7 million.
Outlook and guidance
Early Q1 2026 trading update shows average daily revenue up 0.6% (7.7% adjusted) vs. Q1 2025.
Management remains confident in profitable operations despite higher taxes and regulation.
Anticipation of growth opportunities from the FIFA World Cup and ongoing product investments.
Continued focus on both organic growth and M&A opportunities.
What drove Q4 EBIT margin contraction?
Assess LatAm regulatory changes impact
Reconcile active customer growth with deposit decline
Mitigate B2B revenue volatility
Operating cash flow drivers going forward
Balancing M&A and tech in regulated markets
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Next Betsson earnings date
Q1 202624 Apr, 2026
Betsson
Next Betsson earnings date
Q1 202624 Apr, 2026
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Frequently asked questions
Betsson AB engages in the online gaming business. It operates through the following segments: Casino, Sportsbook, Poker and Bingo. The Casino segment includes games, such as video slots, table games, other games and local jackpot games. The Sportsbook segment consists of sports betting activities. The Poker segment covers card and casino poker. The Bingo segment refers to online bingo activities. Betsson AB serves customers worldwide. The company was formerly known as Nordic Gaming Group AB and changed its name to Betsson AB in March 2006.
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