Scout Gaming Group (SCOUT) Q3 2025 earnings summary

Executive summary

• Q3 2025 revenues fell 19% year-over-year to mSEK 9.6, with both B2B and B2C segments declining due to regulatory changes in Brazil impacting key partners.

• Profitability remains a top priority, with intensified efforts to secure new B2B partnerships and optimize product offerings.

• Early engagement from the mid-August launch of Sportsbook on Fanteam has been promising.

Financial highlights

• Q3 2025 EBITDA was mSEK -3.9 (0.1), and net result was mSEK -4.7 (-0.1); EPS was SEK -0.02 (0.00).

• For Jan–Sep 2025, total revenues rose 10% to mSEK 33.8, but EBITDA was mSEK -5.1 (-3.6) and net result mSEK -7.4 (-5.0); EPS SEK -0.03 (-0.02).

• Personnel costs increased 34% in Q3 and 39% for the period, while other external expenses decreased 19% in Q3 and 14% for the period.

• Cash and cash equivalents at period end were mSEK 25.1 (37.2).

Outlook and guidance

• Focus remains on achieving profitability through new B2B partnerships, product differentiation, and scalable solutions.

• No events after quarter end were reported.