Angler Gaming (ANGL) Q4 2025 earnings summary

Executive summary

• Q4 2025 saw revenues decrease 16.53% year-over-year to €7.81M, but EBIT rose 58.40% to €1.86M and net profit surged 1018.76% to €1.49M.

• For the full year 2025, revenues declined 23.81% to €30.56M, while EBIT increased 21.23% to €6.19M and net profit jumped 148.67% to €4.53M.

• Major software update to the proprietary iGaming platform completed in Q4, enhancing configurability for partners.

• Marlin Media Ltd launched its first proprietary AI-powered casino search engine, marking a milestone in technology-led growth.

Financial highlights

• Q4 EBIT margin improved to 23.78% from 12.53% year-over-year; net profit margin reached 19.02%.

• Earnings per share in Q4 rose to €0.0198 from €0.0018; full-year EPS was €0.0604, up from €0.0243.

• Customer deposits in Q4 increased 19% year-over-year to €23.37M; full-year deposits were €84.27M.

• Active customers and new registrations declined significantly year-over-year.

Outlook and guidance

• Trading update for Q1 2026 indicates average daily net gaming revenue up 7.5% versus Q1 2025.

• Focus remains on profitability, positive cash flow, and investment in long-term growth engines.

• No dividend recommended for 2025; priority is on sales growth, innovation, and cash flow build-up.