Q2 2026 SGHC Ltd Earnings Call Transcript
Key Points
- Record Q2 2026 performance with revenue of $684 million, up 18% year-over-year, and adjusted EBITDA of $204 million, up 30% year-over-year.
- Landmark partnership with Manchester United as principal partner and exclusive global betting partner, enhancing brand profile across a massive worldwide fan base.
- Exceptional customer acquisition during the FIFA World Cup, with new customer acquisitions increasing more than threefold compared to the prior World Cup period.
- Record sports margin of 17% for the quarter, reflecting improved pricing, risk management, and growth of Parlays.
- Strong growth in Africa with revenue up 36% year-over-year and adjusted EBITDA up 47% to $133 million, driven by broad-based growth across the region.
- Raised full-year 2026 guidance to revenue of more than $2.6 billion and adjusted EBITDA of greater than $710 million due to strong first-half performance and solid start to Q3.
- Average monthly active customers (MAUs) declined sequentially, impacted by seasonality and tax effects in two smaller African markets.
- Marketing spend was down around 1% year-over-year, with expectations to increase back to 21%-22% of revenue in the second half, potentially impacting near-term profitability.
- International adjusted EBITDA held steady at $84 million, with growth offset by the UK tax increase and short-term costs of strategic generosity key campaigns.
- SG&A costs increased sequentially to about $100 million, driven by one-time audit costs, additional tech and infrastructure expenses, and headcount from acquired businesses.
- The World Cup time zones were not ideal for a large portion of the customer base, limiting the potential engagement and betting volume compared to other events.
- Alberta's regulated market launch requires a phased rollout approach, which may create short-term uncertainty and costs as the company navigates the transition.
Thank you for standing by. My name is [JL] and I'll be your conference operator today. At this time, I would like to welcome everyone to the Super Group second quarter 2026 earnings webcast and conference call. (Operator Instructions)
Now let's turn the conference over to Nkem Ojougboh, Head of Investor Relations for Super Group. Please go ahead.
Thank you. Good morning, everyone, and thank you for joining us today to discuss Super Group's results for the second quarter 2026. During this call, Super Group may make comments of a forward-looking nature that are subject to risks, uncertainties and other factors discussed further in its SEC filings, which could cause actual results to differ materially from historical results or from our forecast. We assume no responsibility to update forward-looking statements other than as required by law.
On today's call, we may refer to certain non-GAAP financial measures. These measures are in addition to and are a substitute for measures of financial
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