Evolution Gaming Group AB (EVON) Q3 2026 Earnings Report
MX:EVON Q3 2026 EPS Results
- Actual EPS
- MXN 26.82
- Consensus EPS
- MXN 28.10
- Beat/Miss
- Missed by -MXN 1.29
- One Year Ago EPS
- MXN 25.98
MX:EVON Q3 2026 Revenue Results
- Actual Revenue
- MXN 10.97B
- Expected Revenue
- MXN 10.98B
- Beat/Miss
- Missed by -MXN 4.59M
- YoY Revenue Growth
- +3.59%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 10/23/2026
- Time
- Before Open
- Conference Call
- Friday, October 23, 2026
Evolution Gaming Group AB's next earnings date is estimated for February 4, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
No earnings call audio is available for this earnings event.
Q3 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q3 2026 Earnings Call Summary
The call was predominantly positive. Revenue, EBITDA, cash flow, cash conversion, regional growth and product momentum were strong, all regions grew quarter-on-quarter, and full-year margin guidance was maintained. The main challenges were the uncertain Brazilian ban, the year-on-year decline in Europe, ongoing cybercrime issues in Asia, higher personnel costs and continued legal and market volatility.
Management said the full year EBITDA margin target remains 66%, while full year margin guidance remains “in line with last year”; buybacks will continue through Q4 and Q1, at a “somewhat lower pace than in Q3,” within the EUR 2 billion buyback framework and with the aim of remaining in a net cash position with no debt. Investment levels are expected to “remain more or less the same,” the new New Jersey studio is expected to have a “good ramp-up in medium term,” and management expects a “spectacular road map” and a “spectacular year” for 2027, while Brazil remains uncertain and could be reopened again.
- Revenue and EBITDA GrowthNet revenues were EUR 526.1 million, up 3.7% year-on-year and 1.6% quarter-on-quarter. Adjusted EBITDA was EUR 345.9 million, with a 65.8% margin. The adjustments included the EUR 5.6 million U.K. Gaming Commission settlement and the EUR 6.5 million Galaxy Gaming termination fee.
- Positive Regional MomentumAll regions contributed to quarter-on-quarter growth for the first time since 2024. North America reached record revenue and grew 13.6% year-on-year, LatAm reached record revenue and grew 23.1%, and Africa and other regions also reached record revenue and grew 23.7%.
- RNG and Live Portfolio PerformanceLive revenue increased 1.3% quarter-on-quarter and 2.6% year-on-year. RNG delivered double-digit growth for the second consecutive quarter, rising 10.1% year-on-year and 3.2% quarter-on-quarter. Management attributed revenue performance to positive development in the Live portfolio and another strong quarter of RNG growth.
- Strong Profitability and EPS ImprovementYear-to-date EBITDA margin was 65.7%, tracking against the full-year target of 66%. EPS was EUR 1.29, up 2.4% year-on-year, while adjusted EPS increased approximately 7.5%, primarily due to the reduction in shares outstanding from the share buyback program.
- Strong Cash Flow and Cash ConversionOperating cash flow after investments was EUR 334.1 million. Working capital contributed positively by EUR 32.5 million, and rolling 12-month cash conversion reached 85%.
- Working Capital ImprovementsManagement said increased focus on accounts receivable delivered tangible results. The company has improved invoice timing and collection discipline, with accounts receivable declining by close to EUR 30 million during the quarter, while further opportunities and some overdues remain.
- Stable Investment Levels and Studio ExpansionTotal investments were EUR 32 million, consistent with the stable trend of recent quarters. Headcount increased 8.1% year-on-year and 2.3% quarter-on-quarter. Evolution launched one additional studio in the quarter, its third of the year and 27th worldwide, and expects to open a fourth studio in New Jersey during the fourth quarter, bringing the U.S. total to 8 operative hubs.
- Game Launches and Product PipelineMonopoly Roll’em and Disco Balls launched in Q3 and were described as having a very good start. The company is introducing the U.S.-focused RNG studio Spinning Whale, with its first game expected in November. Game Night, developed through the Hasbro partnership, is expected to launch soon and will feature a money wheel and 5 bonus games inspired by Hasbro classics.
- Localized Content and Geographic ExpansionEvolution launched Italian-language Ice Fishing and opened a second studio in Lithuania. It is planning further expansion in Colombia, building momentum in Argentina with 2 studios, and developing localized RNG content for North America through Spinning Whale.
- Strong Financial Position and Share BuybacksCash and cash equivalents were EUR 656.4 million at quarter-end, while equity was EUR 3.6 billion. The company repurchased 16.9 million shares year-to-date, corresponding to EUR 1.1 million as stated on the call, and plans to continue buybacks through Q4 and Q1 at a somewhat lower pace aligned more closely with cash generation.
- Margin Guidance MaintainedManagement maintained its full-year margin guidance, stating that the margin remains in line with last year despite the situation in Brazil. The company also reiterated its preference to remain in a net cash position and avoid debt under its capital allocation framework.
- Progress on Technology and AI InitiativesManagement said it is working across the group to identify where AI can improve functionality and efficiency. AI dealers are being evaluated as a complement to, rather than a replacement for, Live games, and management said it was happy with progress on technical measures addressing Asia-related issues.
- Continued Product and Operational FocusManagement described Q3 as business as usual, with several game releases, new studio openings, continued optimization of the distribution and cost mix, and a steady increase in the game rounds index, including a jump in Q3.
MX:EVON Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Feb 04, 2027 | 2026 (Q4) | 29.16- | 32.01 | ― | ― |
| Oct 23, 2026 | 2026 (Q3) | 28.1026.82 | 25.98 | 3.20% (+0.83) | |
| Jul 17, 2026 | 2026 (Q2) | 26.6326.40 | 25.36 | 4.10% (+1.04) | |
| Apr 22, 2026 | 2026 (Q1) | 26.4626.19 | 25.78 | 1.61% (+0.42) | |
| Feb 05, 2026 | 2025 (Q4) | 26.9032.01 | 38.04 | -15.85% (-6.03) | |
| Oct 23, 2025 | 2025 (Q3) | 27.6525.98 | 32.64 | -20.38% (-6.65) | |
| Jul 17, 2025 | 2025 (Q2) | 25.9825.36 | 26.61 | -4.69% (-1.25) | |
| Apr 30, 2025 | 2025 (Q1) | 28.0425.78 | 26.4 | -2.36% (-0.62) | |
| Jan 30, 2025 | 2024 (Q4) | 28.0638.04 | 27.23 | 39.69% (+10.81) | |
| Oct 24, 2024 | 2024 (Q3) | 26.8832.64 | 26.19 | 24.60% (+6.44) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
