Evolution Gaming Group AB (publ) Earnings Recaps
Q1 2026
Apr 22, 2026
Evolution delivered a resilient Q1 with stable revenues and strong growth in North America and Latin America, despite regional headwinds in Europe. The company is strategically expanding its footprint and progressing on its ambitious 2026 product roadmap.
Key takeaways
- EUR 513 million in net revenues, down 1.5% YoY, with a consistent EBITDA margin of 65.4%.
- North America and Latin America achieved record-high revenues, driven by new game launches and studio expansions.
- Europe’s performance declined due to regulatory volatility and increased player channelization to unregulated operators.
- Ongoing investments include new studios in Latvia, Michigan, and Argentina, supporting future growth.
- A robust product pipeline for 2026 is underway, with critical launches like Always 6 Blackjack contributing to enhanced entertainment offerings.
Q3 2025
Oct 23, 2025
Evolution reported a 2.4% year-on-year decline in net revenue to EUR 507.1 million for Q3 2025, primarily due to ongoing challenges in Asian markets, though European and North American segments showed resilience and growth potential.
Key takeaways
- Net revenue declined by 2.4% year-on-year; EBITDA margin remained stable at 66.4%.
- Strong performance in Europe; recognized as a top B2B supplier by a major regulator.
- RNG revenue grew by 4.2%, marking its first time outperforming Live revenue, which saw a decline of 3.4%.
- Continued expansion of innovative game offerings with successful launches like Ice Fishing and Sneaky Slots.
- Operational headcount increased by 4.2% year-on-year, although a quarter-on-quarter decrease of 2.7% reflects a cautious hiring approach amidst volatility.