Q2 2026 Gentoo Media Inc Earnings Call Transcript
Key Points
- EBITDA before special items increased 5% year-on-year to EUR8.9 million, with margin expanding to 39% from 34%.
- Player intake grew 25% quarter-over-quarter, driven by growth in both publishing and paid channels.
- Value of deposits reached an all-time high of EUR207 million, up 6% year-over-year.
- Total costs decreased by 16% year-on-year, reflecting continued cost discipline and a leaner operating model.
- Net interest-bearing debt reduced by EUR10.6 million year-over-year, improving leverage ratio to 2.58 from 2.99.
- Revenue declined 9% year-on-year to EUR22.9 million, below expectations, as increased player activity did not translate into immediate revenue growth.
- Full-year 2026 guidance was revised downward, with revenue now expected at EUR97-100 million.
- Paid media EBITDA was negative due to higher operator bonuses and acquisition incentives reducing initial revenue contribution.
- Revenue from publishing declined more than expected due to portfolio simplification and reduced investments in certain markets.
- Commercial optimization efforts have not yet delivered results fast enough to offset revenue declines, with effects expected only in Q4.
Hi, and welcome to Redeye. Today, we are joined by Gentoo Media, who will present the Q2 results, and this will be followed by a Q&A moderated by me. And if you have any questions, please send them through on the web.
With that, I will leave over the word to Jonas Warrer.
Hi. Welcome to Gentoo Media's Q2 2026 presentation. My name is Jonas Warrer. I'm the CEO of Gentoo Media, and I will be taking you through the presentation today. Gentoo Media connects high-intent players with leading iGaming operators worldwide. We are a leading affiliate marketing company in the online casino and sportsbook industry with a diverse portfolio of websites, products, and campaigns.
We help online sportsbooks and casinos acquire high-value players at scale through premium lead generation and compliance solutions. Our business model is essentially functioning as the digital storefront for the iGaming industry, where we connect high-intent players with
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