Angler Gaming (ANGL) Q3 2025 earnings summary

Executive summary

• Revenues for Q3 2025 decreased by 17.91% year-over-year to €7.93 million, while EBIT rose 16.81% and net profit surged 67.30%.

• For the nine months ended September 2025, revenues fell 26.02% to €22.75 million, EBIT declined 3.68%, but net profit increased 35.74%.

• The group attributes profit growth to operational improvements, a new B2B business model, and higher customer deposits despite lower hold rates.

Financial highlights

• Q3 2025 EBIT: €1.70 million (up 16.81% YoY); EBIT margin: 21.40% (vs. 15.04%).

• Q3 2025 net profit: €1.22 million (up 67.30% YoY); EPS: €0.0163 (vs. €0.0098).

• 9M 2025 EBIT: €4.33 million (down 3.68% YoY); EBIT margin: 19.03% (vs. 14.62%).

• 9M 2025 net profit: €3.05 million (up 35.74% YoY); EPS: €0.0406 (vs. €0.0299).

• Customer deposits in Q3 2025 rose 9.81% YoY to €20.77 million.

Outlook and guidance

• Early Q4 2025 daily net gaming revenue is 2% lower than Q4 2024 but 1% higher than Q3 2025.

• Marlin Media Ltd aims to break even in Q1 2026, with ongoing investments in AI-powered casino search technology.

• PremierGaming Ltd is increasing marketing spend in Sweden after positive customer lifetime value analysis.