Q4 2025 Brightstar Lottery PLC Earnings Call Transcript

Feb 24, 2026 / 01:00 PM GMT

Release Date Price: €11.2 (+1.82%)

Transcript

Key Points

Positve

Brightstar Lottery PLC (BRSL) reported a revenue of $2.5 billion for 2025, supported by a diverse global portfolio.
The company achieved a 45% EBITDA margin, generating $1.1 billion in EBITDA for fiscal year 2025.
Brightstar returned over $1 billion to shareholders through dividends and share repurchases, reflecting confidence in cash flow strength.
The company secured a critical nine-year Italy lotto license, providing opportunities for digital expansion.
Brightstar's net debt improved significantly, reducing from $4.8 billion to $2.7 billion by the end of 2025.

Negative

The transition of the UK technology contract negatively impacted revenue, offsetting some growth.
Brightstar faces a significant valuation discount compared to lottery peers and adjacent sectors.
The company incurred higher startup costs associated with a new printing press.
Cash from operations was negatively impacted by the Italy lotto upfront license fee, resulting in a reported negative $193 million.
The company expects net debt leverage to peak at around 3.5x following the final installment of the license payment in 2026.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

BRSL.N - Brightstar Lottery PLC
Q4 2025 Brightstar Lottery PLC Earnings Call
Feb 24, 2026 / 01:00PM GMT

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Presentation
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Unidentified_1 [1]
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Our partners have always known they could count on us to guide them into the future, but more importantly, they've always known they could count on us, and helping their businesses grow has helped us grow our business to be the primary technology provider for 7 of the 10 largest operators in the world.

We are Bright.

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Unidentified_2 [2]
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Star.

Ladies and gentlemen, thank you for joining us and welcome to Bright Stars Q4 2025 and full year 2025 earnings call. After today's prepared remarks, we will host a question-and-answer session.

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