Super Group (SGHC) Q3 2025 earnings summary

Executive summary

• Q3 2025 revenue reached $557 million, up 26% year-over-year, with Adjusted EBITDA of $152 million, a 65% increase and a 27% margin, driven by strong growth in Africa, Europe, and North America.

• Monthly active customers hit a record 6 million in September, averaging 5.5 million for the quarter, up 18% year-over-year, reflecting strong engagement and effective local execution.

• Profit for Q3 2025 was $95.8 million, a significant increase from $10.3 million in Q3 2024, supported by operational efficiencies and improved marketing ROI.

• Launched Super Coin, a South African rand-pegged stablecoin, to enhance payments and customer engagement, with a digital asset wallet rollout planned for Q1 2026.

• $20 million in dividends paid during the quarter, with $136 million returned to shareholders over the last twelve months; cash and cash equivalents stood at $462 million as of September 30, 2025.

Financial highlights

• Q3 2025 revenue was $557 million, up from $442.9 million in Q3 2024.

• Adjusted EBITDA for Q3 2025 was $152 million, up from $92 million in Q3 2024, with a margin of approximately 27%.

• Profit for Q3 2025 was $95.8 million, with a profit margin of 17.2%.

• Sports betting wagers totaled $901 million, up 12% year-over-year; casino wagers rose 20% year-over-year.

• Online casino revenue for Q3 2025 was $459 million, up from $363 million in Q3 2024; sports betting revenue was $91 million, up from $74 million.

Outlook and guidance

• Full-year 2025 revenue guidance raised to $2.17–$2.27 billion; Adjusted EBITDA guidance increased to $555–$565 million.

• Guidance assumes normalized sports hold of around 14% for Q4, with continued customer activity momentum and marketing efficiencies.

• No further U.S. revenue expected in Q4 as operations wind down.

• Management expects continued momentum into Q4 and is focused on long-term value creation.