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bet at home.com (ACX) AI Stock Analysis

4 Followers
DE:ACX

bet at home.com

(XETRA:ACX)

Select Model
Rating:47Neutral
Price Target:EUR 2.50▼(-3.10% Downside)
Action:reiterated
Date:10/14/26

The score is weighed down primarily by unstable operating performance and weak cash flow (including negative operating/free cash flow in 2025), despite a solid low-debt balance sheet. Technicals also remain soft with the price below key moving averages and a negative MACD. Valuation is neutral with a P/E around 22.8 and no dividend yield data to add support.

Positive Factors
Low LeverageConservative leverage gives bet-at-home.com greater financial flexibility through earnings volatility. A sizable equity base can cushion operating setbacks, reduce dependence on refinancing, and preserve capacity to support the business while management addresses uneven profitability.
Negative Factors
Revenue ContractionThe sharp 2025 revenue decline indicates that demand and operating performance remain unstable rather than following a dependable growth trajectory. Persistent top-line pressure would make it harder to cover fixed costs, fund customer acquisition, and sustain the recent return to profitability.

bet at home.com (ACX) vs. iShares MSCI Germany ETF (EWG)

-40%-20%0%20%40%60%DE:ACX+1.18%EWG+5.34%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
EUR 18.53M
Dividend Yield
―
Average Volume (3M)
4,217
Price to Earnings (P/E)
20.8
Beta (1Y)
0.39
Revenue Growth
-12.06%
EPS Growth
47.14%
Country
Germany
Employees
101
Sector
General
Sector Strength
55
Industry
Gambling, Resorts & Casinos

bet at home.com Business Overview & Revenue Model

Company Description

Operating across Europe, bet-at-home.com AG, along with its various subsidiaries, delivers a comprehensive suite of online gambling and sports betting services. The company's diverse offerings span traditional and in-play sports wagering, a robust on...

How the Company Makes Money

bet-at-home.com AG generates revenue primarily from online sports betting and online gaming (including casino-style products). In sports betting, the company earns money from the net gaming revenue (also referred to as gross win), which is the differ...

bet at home.com Financial Statement Overview

Summary

Financials are mixed: a strong, low-leverage balance sheet (Balance Sheet Score 78) is offset by volatile profitability (Income Statement Score 44, including a 28.6% revenue decline in 2025) and weak cash generation (Cash Flow Score 38, with negative operating and free cash flow in 2025).

Income Statement

44Neutral

Balance Sheet

78Positive

Cash Flow

38Negative
Financial statement breakdown
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue45.45M36.86M41.59M36.09M42.04M47.56M
Gross Profit26.19M041.59M17.38M26.70M33.99M
EBITDA1.69M841.00K-1.84M855.00K4.21M13.86M
Net Income922.00K2.27M-4.45M-1.50M11.91M-16.31M
Balance Sheet
Total Assets048.89M52.68M56.78M62.66M75.78M
Cash, Cash Equivalents and Short-Term Investments36.29M27.89M33.67M34.65M35.33M41.99M
Total Debt01.06M1.41M1.73M1.88M1.69M
Total Liabilities-25.26M23.63M29.69M29.34M33.71M58.74M
Stockholders Equity25.26M25.26M22.99M27.44M28.95M17.04M
Cash Flow
Free Cash Flow0-1.44M792.00K133.00K-5.96M8.60M
Operating Cash Flow0-1.44M792.00K104.00K-5.02M10.49M
Investing Cash Flow0-94.00K18.00K-343.00K-874.00K-1.90M
Financing Cash Flow0-327.00K-329.00K-498.00K-770.00K-18.42M

bet at home.com Technical Analysis

Technical Analysis SentimentNegative
Last Price2.58

Price Trends

50DMA3.04Negative
100DMA3.15Negative
200DMA2.87Negative

Market Momentum

MACD-0.14Positive
RSI35.84Neutral
STOCH21.12Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:ACX, the sentiment is Negative. The current price of 2.58 is below the 20-day moving average (MA) of 2.81, below the 50-day MA of 3.04, and below the 200-day MA of 2.87, indicating a bearish trend. The MACD of -0.14 indicates Positive momentum. The RSI at 35.84 is Neutral, neither overbought nor oversold. The STOCH value of 21.12 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DE:ACX.

bet at home.com Peers Comparison

Overall Rating

UnderperformOutperform
Sector (55)

Financial Indicators

DE:ACX against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
DE:TIMADE:TIMA69NeutralEUR 854.98M18.6519.31%3.61%12.10%7.64%
Sector *55Neutral$6.65B3.83-15.92%6.20%10.91%7.18%
DE:ACXDE:ACX47NeutralEUR 18.53M20.763.68%―-12.06%47.14%

* General Sector Average

Performance Comparison

-20%0%20%40%DE:ACXDE:TIMADec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
DE:ACX and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
DE:ACXbet at home.com2.58-0.01-0.39%
DE:TIMAZEAL Network38.80-8.50-17.97%

bet at home.com Corporate Events

Business Operations and StrategyFinancial Disclosures

Bet-at-home Revises 2026 Forecast Amid Higher Optimization Costs

Negative
Nov 3, 2026

Bet-at-home.com AG operates in the online sports-betting and gaming industry, providing betting and gaming services to customers.The company revised its 2026 forecast, narrowing projected gross betting and gaming revenue to EUR 46 million-EUR 49 mill...

Financial Disclosures

Bet-at-home.com Sets Date for Half-Year 2026 Financial Report

Neutral
Sep 15, 2026

Bet-at-home.com AG, an online sports betting and gaming provider headquartered in Düsseldorf, operates its wagering and entertainment services through web-based platforms. Its shares trade on the regulated market in Frankfurt and multiple German...

Business Operations and StrategyProduct-Related Announcements

Bet-at-home.com Launches New “Casinoro” Brand to Expand European Online Casino Reach

Positive
Sep 9, 2026

Bet-at-home.com AG is expanding its online casino activities beyond Germany by launching a new brand, “Casinoro,” operated by its Maltese subsidiary bet-at-home.com Europe Ltd. The Casinoro platform will run on a separate website under a...

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Oct 14, 2026