Scout Gaming Group (SCOUT) Q2 2025 earnings summary

Executive summary

• Achieved 7% revenue growth in Q2 2025 and 27% for the first half, with improved EBITDA and net results year-over-year.

• Strategic shift to in-house teams reduced costs and improved operational control.

• Launched a new third-party sportsbook for the B2C brand in August, expected to drive future revenue.

• Entering H2 2025 with confidence, aiming for positive cash flow and sustainable growth.

Financial highlights

• Q2 2025 revenues: mSEK 11.8 (up 7% YoY); H1 2025 revenues: mSEK 24.2 (up 27% YoY).

• Q2 EBITDA at breakeven (mSEK 0.0 vs. -0.9 YoY); H1 EBITDA improved to mSEK -1.2 (vs. -3.7 YoY).

• Net result for Q2 improved to mSEK -0.3 (vs. -1.9 YoY); H1 net result at mSEK -1.2 (vs. -4.8 YoY).

• Earnings per share for Q2: SEK -0.01 (vs. -0.07 YoY); H1: SEK -0.11 (vs. -0.17 YoY).

• Cash and cash equivalents at period end: mSEK 22.6 (vs. 38.0 YoY).

Outlook and guidance

• Management targets positive cash flow, leveraging a leaner structure and enhanced product portfolio.

• New sportsbook launch anticipated to contribute to revenue growth over time.

• Focus on user acquisition and retention through tailored marketing and superior customer experience.