Bragg Gaming Group (NASDAQ:BRAG) Releases Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Bragg Gaming Group (NASDAQ:BRAG) announced its earnings results on Thursday. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03), reports. The business had revenue of $32.66 million for the quarter, compared to analysts’ expectations of $28.35 million. Bragg Gaming Group had a negative return on equity of 11.05% and a negative net margin of 7.08%.

Here are the key takeaways from Bragg Gaming Group’s conference call:

• Bragg reported concentrated growth in key markets with U.S. revenue up ~55% YoY in Q4 and Brazil up 42.1% YoY, reflecting successful expansion into high-growth regulated markets.
• The company is shifting toward higher-margin proprietary content—proprietary revenue grew 20.8% YoY in Q4 and now represents 15.7% of total revenue, supported by 44 new proprietary games launched in 2025.
• Management is cutting costs and investing in AI to drive efficiency—a ~12% global workforce reduction will incur a ~€1m Q1 charge but is expected to deliver approximately €4.5m of annualized cash savings and support a path to positive EBIT.
• Q4 results: revenue €27.7m (+1.9% YoY), gross profit €15.7m (56.5% margin) and adjusted EBITDA €4.6m (16.5% margin); 2026 guidance is revenue €97–104.5m and adjusted EBITDA €16–19m (16%–18% margin).
• Ongoing regulatory and tax headwinds in the Netherlands hurt results (Netherlands revenue down ~4.6% YoY) and a customer migration (BetCity) planned in H1 2026 creates further near-term revenue pressure despite management saying bottom-line impact should be minimal.

Bragg Gaming Group Trading Up 1.5%

Bragg Gaming Group stock opened at $2.03 on Friday. The stock has a 50 day moving average of $1.93 and a two-hundred day moving average of $2.27. Bragg Gaming Group has a twelve month low of $1.46 and a twelve month high of $4.82. The stock has a market capitalization of $50.81 million, a price-to-earnings ratio of -5.76 and a beta of 0.87.

Institutional Investors Weigh In On Bragg Gaming Group

An institutional investor recently raised its position in Bragg Gaming Group stock. Jane Street Group LLC boosted its position in Bragg Gaming Group Inc. (NASDAQ:BRAG) by 43.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,009 shares of the company’s stock after buying an additional 6,072 shares during the period. Jane Street Group LLC owned approximately 0.08% of Bragg Gaming Group worth $42,000 as of its most recent SEC filing. Institutional investors and hedge funds own 4.04% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Bragg Gaming Group in a research note on Monday, December 29th. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Bragg Gaming Group currently has a consensus rating of “Reduce” and a consensus price target of $5.00.

About Bragg Gaming Group

Bragg Gaming Group is a business-to-business supplier of online gaming content, technology and platform solutions. The company develops and distributes a mix of proprietary, third-party and licensed casino games, including video slots, table games and live dealer experiences. Its core offering centers on a scalable gaming platform designed to support operator integration, player management and advanced analytics.

Bragg’s technology stack features its flagship ORYX Gaming platform, which provides a centralized hub for game aggregation, platform services and regulatory compliance tools.