Inspired Reports Third Quarter 2026 Results
Inspired Entertainment reported Q3 2026 revenue of $61.4 million, down 29% on a reported basis due to the Holiday Parks divestiture and Pubs restructuring, but up roughly 4% like-for-like — and about 9% when adjusted for higher UK gaming taxes. Adjusted EBITDA of $28.2 million fell 13% year-over-year but delivered a record 46% margin, with net operating income up 6% to $10.3 million and the net loss narrowing to $0.1 million. Management cut its FY2026 Adjusted EBITDA guidance to $109M-$112M from $112M-$118M, primarily reflecting Brazil's suspension of regulated online gaming, which affected a business representing about 5% of total revenue.
Key figures
- Eps
- $0.00 (GAAP net loss per share, Q3 2026); adjusted net income per diluted share $0.10
- Revenue
- $61.4 million
- Guidance
- FY2026 Adjusted EBITDA $109M-$112M, cut from $112M-$118M; FY2026 FCF conversion slightly below 20% target
- Revenue Yoy
- -29% reported; like-for-like +4%, or ~+9% adjusted for UK gaming tax increases
- Net loss
- $0.1 million (vs $1.9 million prior year)
- Adjusted ebitda
- $28.2 million, down 13% YoY, up 4% sequentially
- Fcf conversion ytd
- 22%
- Machine games duty
- rising from 20% to 25% effective April 2027
- Adjusted net income
- $2.8 million (vs $8.2 million prior year)
- Net operating income
- $10.3 million, +6% YoY
- Adjusted ebitda margin
- 46% record (vs 37% prior year)
- Brazil revenue exposure
- ~5% of total revenue
AI analysis
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