Brightstar Lottery Plc Trading Under The Legal Name To Begin At The Market Open On July 21, 2025. · NYSE:BRSL
Brightstar Lottery Plc Trading Under The Legal Name To Begin At The Market Open On July 21, 2025 — Brightstar Lottery — Q4 and FY2025 Earnings Presentation
26 slides from Brightstar Lottery Plc Trading Under The Legal Name To Begin At The Market Open On July 21, 2025's earnings presentation, Feb 24, 2026
Slide 1: Q4 and Full-Year Earnings Report 2025
Q4 and Full-Year Earnings Report 2025: PERIOD ENDED DECEMBER 31, 2025
Slide 2: Cautionary Statement Regarding Forward-Looking Statements
2 Cautionary Statement Regarding Forward-Looking Statements This presentation contains forward-looking statements (including within the meaning of the U.S. Private Securities Litigation Reform Act of 1995) regarding the Brightstar Lottery PLC’s (the “Company”) future plans, strategies, expected grow
Slide 3: Contents
Contents 03 Appendix04 01 Strategy Update 02 Financial Results Q&A BRIGHTSTAR EARNINGS REPORT - Q4'25 AND FY'253
Slide 4: Strategy Update
01 Strategy Update
Slide 5: Successful Execution of Key Strategic Priorities in FY'25
5 Successful Execution of Key Strategic Priorities in FY’25 01 STRATEGY UPDATE Launched Brightstar as Pure Play Lottery Business Communicated Capital Allocation Plans Significantly Reduced Debt & Leverage Closed IGT Gaming Sale Secured Italy Lotto Contract BRIGHTSTAR EARNINGS REPORT - Q4'25 AND FY'2
Slide 6: FY'25 Profit & Cash Flow Highlight Brightstar's Attractive Business Model
6 FY’25 Profit & Cash Flow Highlight Brightstar’s Attractive Business Model 01 STRATEGY UPDATE >$1.1B FY’25 Adjusted EBITDA* Returned >$1B to Shareholders Cash Generation Funds Key Initiatives Diversity of Portfolio Drives Q4 & FY’25 Same-store Sales (SSS) Growth Double-digit Percentage Increase in
Slide 7: FY'26: An Important Year of Investment in Growth Initiatives
7 FY’26: An Important Year of Investment in Growth Initiatives 01 STRATEGY UPDATE BRIGHTSTAR EARNINGS REPORT - Q4'25 AND FY'25 iLottery Expansion Game Innovation & Portfolio Optimization Italy B2C Digital Execution Channel & POS Expansion New Contract Opportunities OPtiMa Savings & AI Initiatives
Slide 8: The Future is Brightstar
8 The Future is Brightstar Global Leadership in Large, Growing Industry Growing, Resilient Business with High Contractual Recurring Revenue Significant Tailwind from Broader iLottery Adoption Attractive Profit Profile & Strong, Predictable Cash Flows Balanced Capital Allocation Strategy Includes Inc
Slide 9: Financial Results
02 Financial Results
Slide 10: Q4'25 Revenue Beats Expectations On Elevated Jackpot Activity
10 Q4’25 Revenue Beats Expectations On Elevated Jackpot Activity; FY’25 Results Include Increased Demand for Instant Ticket & Draw Games 02 FINANCIAL RESULTS Revenue BRIGHTSTAR EARNINGS REPORT - Q4'25 AND FY'25 307 320 320 251 236 258 93 85 91 Q4’ 24 Instant Ticket & Draw U.S. Multi- state Jackpots
Slide 11: Resilient Profit Generation in Q4'25 & FY'25
Income/(Loss) from Continuing Operations Adjusted EBITDA 11 Resilient Profit Generation in Q4’25 & FY’25 02 FINANCIAL RESULTS BRIGHTSTAR EARNINGS REPORT - Q4'25 AND FY'25 290 284 304 Q4’24 Service Gross Margin Product Sales Gross Margin Other** Excluding FX FX Q4’25 -8 19 -2 4 Elevated U.S MSJP acti
Slide 12: Cash Generation Funds Key Investments & Significant Shareholder Returns
12 Cash Generation Funds Key Investments & Significant Shareholder Returns 02 FINANCIAL RESULTS BRIGHTSTAR EARNINGS REPORT - Q4'25 AND FY'25 Note: cash flow results reflect continuing operations *Non-GAAP measure; see disclaimer on page 2 and reconciliations to the most directly comparable GAAP meas
Slide 13: Significant Improvement in Net Debt & Leverage in FY'25
Net Debt 13 Significant Improvement in Net Debt & Leverage in FY’25 BRIGHTSTAR EARNINGS REPORT - Q4'25 AND FY'25 02 FINANCIAL RESULTS 118 470 235 235 470 588 750 588 750 2026 2027 2028 2029 2030 2033 Bank Debt Bonds 4,777 2,723 FY'24 FY'25 2.4x4.1.xNet Debt Leverage Solid financial condition with no
Slide 14: Introducing FY'26 Outlook
14 Introducing FY’26 Outlook 02 FINANCIAL RESULTS BRIGHTSTAR EARNINGS REPORT - Q4'25 AND FY'25 1Reflects 100% consolidation of Italy joint venture; minority partner contributions representing their pro rata share are recorded in cash flows from financing activities CapEx reflects contractual obligat
Slide 15: Roadmap to Achieving 2028 Targets
After 2025-2028 peak CapEx cycle ~$400M+ Annual Free Cash Flow Before upfront license fees but after minority distributions; implies mid-teens FCF yield at current share price 15 Roadmap to Achieving 2028 targets 02 FINANCIAL RESULTS BRIGHTSTAR EARNINGS REPORT - Q4'25 AND FY'25 Revenue Adjusted EBIT
Slide 16: Q&A
03 Q&A
Slide 17: Appendix
04 Appendix
Slide 18: FY'25 Revenue & Profit Profile
04 APPENDIX FY’25 Revenue & Profit Profile 94% 6% Service Product Sales 47% 40% 13% U.S. & Canada Italy Rest of world 95% 5% Instant Ticket & Draw U.S. Multi-state Jackpots 5% 45% Income from continuing operations Adjusted EBITDA Revenue by Type Revenue by Geography Wager-based Revenue by Game Type
Slide 19: Lottery Sales: Steady Growth & Resilience
19 Lottery Sales: Steady Growth & Resilience Source: Third-party data & Brightstar internal estimates U.S. CAGRs: 2000-2025E: 3.7% 2020-2022: 6.7% 2007-2025E: 3.4% Italy CAGRs: 2000-2025: 4.2% 2020-2022: 13.4% 2007-2025: 2.3% 04 APPENDIX BRIGHTSTAR EARNINGS REPORT - Q4'25 AND FY'25 March 2001– Sep 2
Slide 20: Q4'25 Select Performance and KPI Data
Q4'25 Select Performance and KPI Data $ in millions except otherwise noted (1) Same-store sales represent the change in wagers recorded in lottery jurisdictions where Brightstar is the operator or facilities management supplier, using the same lottery jurisdictions and perimeter for comparisons betw
Slide 21: Q4'25 Select Performance and KPI Data
Q4'25 Select Performance and KPI Data (1) Same-store revenue represents the change in same-store sales net of contract mix 04 APPENDIX BRIGHTSTAR EARNINGS REPORT - Q4'25 AND FY'2521 Same-store revenue growth (%) at constant currency (Same-store sales inclusive of contract mix) (1) Q4'25 Constant Cur
Slide 22: Summarized Income Statements
Summarized Income Statements $ in millions except otherwise noted 04 APPENDIX BRIGHTSTAR EARNINGS REPORT - Q4'25 AND FY'2522 For the three months ended For the year ended December 31, 2025 December 31, 2024 All amounts from continuing operations Q4'25 Q4'24 Y/Y Change (%) FY'25 FY'24 Y/Y Change (%)
Slide 23: Summarized Cash Flow Statements
Summarized Cash Flow Statements $ in millions 04 APPENDIX BRIGHTSTAR EARNINGS REPORT - Q4'25 AND FY'2523 For the three months ended For the year ended December 31, 2025 December 31, 2024 Q4'25 Q4'24 FY'25 FY'24 Net cash (used in) provided by operating activities from continuing operations (222) 174
Slide 24: Reconciliation of Non-GAAP Financial Measures
$ in millions (1) Includes amortization of upfront license fees Reconciliation of Non-GAAP Financial Measures 04 APPENDIX BRIGHTSTAR EARNINGS REPORT - Q4'25 AND FY'2524 For the three months ended December 31, For the year ended December 31, 2025 2024 2025 2024 Income from continuing operations 92 11
Slide 25: Reconciliation of Non-GAAP Financial Measures - QTD
Reconciliation of Non-GAAP Financial Measures - QTD All amounts presented are in $ (1) Calculated based on nature of item, including any realizable deductions, and statutory tax rate in effect for the relevant jurisdiction (2) Includes the dilutive impact of share-based payment awards 04 APPENDIX BR
Slide 26: Reconciliation of Non-GAAP Financial Measures - YTD
Reconciliation of Non-GAAP Financial Measures - YTD All amounts presented are in $ (1) Calculated based on nature of item, including any realizable deductions, and statutory tax rate in effect for the relevant jurisdiction (2) Includes the dilutive impact of share-based payment awards 04 APPENDIX BR
Brightstar Lottery — Q4 and FY2025 Earnings Presentation on 6ix