Shares declined 1.0% following Super Group’s Q1 report as investors weighed solid revenue and EBITDA growth against cautious market sentiment despite reaffirmed guidance and margin improvements.

• Total revenue rose 18% year-over-year to $612 million, with adjusted EBITDA up 36% to $152 million; margin expanded to 25% from 22% a year ago.
• Africa segment delivered 53% revenue growth and 21% EBITDA increase, driven by strong Sports & Casino wagers and early adoption of the Super Coin wallet.
• International segment reported 9% revenue growth and 26% EBITDA growth, led by 29% growth in the UK and 16% in Canada excluding Ontario.
• Average monthly active customers reached a record 6.4 million, marking an 18% increase year-over-year.
• The company reaffirmed full-year 2026 guidance targeting at least $2.55 billion in revenue and more than $680 million in adjusted EBITDA; meanwhile, cautious market reaction likely reflects tempered optimism despite operational momentum.