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

Bragg Gaming Group (NASDAQ:BRAG) posted 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 firm had revenue of $32.66 million during the quarter, compared to analyst estimates of $28.35 million. Bragg Gaming Group had a negative net margin of 7.08% and a negative return on equity of 11.05%.

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 Price Performance

NASDAQ BRAG opened at $2.04 on Friday. The company’s fifty day moving average is $1.93 and its two-hundred day moving average is $2.27. Bragg Gaming Group has a 52-week low of $1.46 and a 52-week high of $4.82. The firm has a market capitalization of $51.06 million, a price-to-earnings ratio of -5.97 and a beta of 0.87.

Institutional Investors Weigh In On Bragg Gaming Group

A hedge fund recently raised its stake in Bragg Gaming Group stock. Jane Street Group LLC increased its position in shares of Bragg Gaming Group Inc. (NASDAQ:BRAG) by 43.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,009 shares of the company’s stock after buying an additional 6,072 shares during the quarter. Jane Street Group LLC owned 0.08% of Bragg Gaming Group worth $42,000 at the end of the most recent quarter. Institutional investors own 4.04% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated 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. According to data from MarketBeat, Bragg Gaming Group currently has an average rating of “Reduce” and an average target price 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.