Q3 2025 Bragg Gaming Group Inc Earnings Call Transcript
Key Points
- Bragg Gaming Group Inc (BRAG) reported strong revenue growth in key markets, with the USA seeing an 86% year-over-year increase and Brazil experiencing an 80% rise.
- The company secured a Tier 1 credit line with the Bank of Montreal, enhancing its liquidity position and reducing borrowing costs.
- Proprietary content revenue grew by 35% year-over-year, contributing significantly to the company's expanding profitability profile.
- Gross margin improved by 115 basis points to 54.7%, supported by the growing contribution from proprietary content.
- Bragg Gaming Group Inc (BRAG) is on track to achieve 68% of its revenue from non-Netherlands markets by the end of 2025, demonstrating successful geographic diversification.
- Revenue growth was only 2% year-over-year when including the Netherlands, which remains impacted by regulatory changes.
- The Netherlands saw a 22% decline in revenue year-over-year, affecting the overall revenue growth.
- The company faces significant amortization and depreciation costs, impacting its operating income under IFRS standards.
- SG&A expenses have increased substantially year-to-date, indicating potential cost management challenges.
- The migration of a key customer, Bet City, off the RGPA in the Netherlands is expected to occur in the first half of next year, which could impact revenue.
Good morning ladies and gentlemen, and thank you for standing by. (Operator Instruction). I would now like to turn the call over to Stephen Kilmer, Head of Investor Relations for Brad Gaming Group. Please go ahead.
Thank you. Good morning, everyone, and thank you for joining us for Bragg Gaming Group's Third quarter 2025 earnings call.
My name is Stephen Kilmer, and I recently came on board to manage Bragg's IR functions.
I'm not quite in-house at five, nor would I say that I work for an external agency.
I think the best way for me to describe myself is that I'm a fractional head of IR.
I've been running that function for technology companies since the mid-nineties, and before that, I worked for one of the top full tech news wires, as well as an investment advisor at what eventually became Merrill Lynch Canada.
My contact information is at the bottom of today's press release, and I hope to get to know many of you as well as we move forward.
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