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bet-at-home (ACX) investor relations material
bet-at-home Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
9M 2026 gross betting and gaming revenues fell 1.2% YoY to €35.153m, mainly due to lower customer activity after Austria raised betting tax; World Cup momentum and online gaming growth partly offset the decline.
EBITDA before special items was -€0.842m; FY26 guidance remains €46m–€49m gross revenue and -€1.6m to €0 EBITDA before special items.
Financial highlights
Net betting and gaming revenues were €27.099m versus €27.280m in 9M 2025.
EBITDA was -€2.299m versus €0.657m; EBIT was -€2.669m versus €0.033m.
Net loss for the period was €2.710m versus net income of €0.073m in 9M 2025.
Marketing expenses rose 14.3% YoY to €14.328m; personnel expenses increased 4.2% to €6.510m and other operating expenses rose 6.8% to €9.098m.
Outlook and guidance
FY26 gross betting and gaming revenue guidance is €46m–€49m; EBITDA before special items guidance is -€1.6m to €0.
Management considers the ranges appropriate despite regulatory, legal and competitive uncertainties, with World Cup momentum and ongoing initiatives providing support.
- H1 2026 saw lower revenue and negative EBITDA before special items, but full-year guidance remains unchanged.ACX
H1 2026 - Q1 revenues up 15.2% year-over-year; regulatory changes to impact future earnings.ACX
Q1 2025 - H1 2024 saw revenue growth but lower EBITDA amid higher marketing spend and ongoing legal risks.ACX
H1 2024 - Revenue up 8.9% year-over-year, but profit impacted by legal provisions and higher expenses.ACX
Q3 2024 - Revenue up 13.3% to €52.3m; EBITDA before special items €4.8m; legal risks remain high.ACX
H2 2024 - EBITDA before special items more than doubled to EUR 3.0 million despite flat revenue.ACX
H1 2025 - Sports betting revenues fell while online casino grew, with FY 2025 outlook remaining cautious.ACX
Q3 2025 - 2025 revenue declined 8.2% to €48.0m, but profitability was restored and outlook is stable.ACX
H2 2025 - Revenues fell 16.1% year-over-year, but online gaming grew 13.1% amid regulatory headwinds.ACX
Q1 2026
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