Bragg Gaming Group Inc. · TSX:BRAG
Bragg Gaming — Q4 2025 Earnings Presentation
11 slides from Bragg Gaming's earnings presentation, Mar 19, 2026
Slide 1: Fourth Quarter and Full Year 2025 Results Presentation
NASDAQ: BRAG | TSX: BRAG Fourth Quarter and Full Year 2025 Results Presentation March 2026
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains forward-looking statements or “forward-looking information” within the meaning of the Canadian securities legislation and applicable securities laws (“forward-looking statements”), including, without limitation, statements with respect to the fol
Slide 3: Who We Are
.01 WE CREATE & DELIVER CASINO GAMES Who Delivering cutting-edge proprietary content as well as top-tier online casino games from third-party studios We Are .02 WE EMPOWER OPERATORS TO LAUNCH & SCALE Empowering operators to seamlessly launch, run, scale, and optimize their casino, sports betting and
Slide 4: Financial Overview
Financial Overview 4Q25 Key Metrics Revenue (EUR,m) +2% -1% 27.7 27.2 26.8 26.2 26.1 25.5 YoY 4Q increase in Revenue YoY 4Q decrease in Gross Profit -150 bps -2% YoY 4Q decrease in Adjusted EBITDA YoY 4Q decrease in Gross Profit Margin % 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 Gross Profit (EUR,m) Adjusted EB
Slide 5: Fourth Quarter 2025 Product Mix
Fourth Quarter 2025 Product Mix • In 4Q25, PAM & Turnkey revenue of EUR 5.4m Product Mix Continues to Evolve represented 20.5% of total revenue, compared to EUR 6.5m and 23.9% in 4Q24, 11.9% 13.3% 15.9% 14.8% 15.7% 16.6% impacted by regulatory and market headwinds in the Netherlands 17.3% 17.9% 14.4
Slide 6: Full Year 2025 Financial Results
Full Year 2025 Financial Results Since its inception in late 2018, Bragg has enjoyed strong financial performance and continued business growth* Revenue EUR,m Adjusted EBITDA EUR,m 106.1 102.0 16.6 93.5 15.8 15.2 84.7 12.1 58.3 46.4 7.2 5.5 2020 2021 2022 2023 2024 2025 2020 2021 2022 2023 2024 2025
Slide 7: Proprietary Content Delivers Compounding High-Margin Revenues
Proprietary Content Delivers Compounding High-Margin Revenues Once launched, games can remain popular for years, generating recurring, long-term revenues • +21% Proprietary Content revenue growth YoY to EUR 4.3 million in 4Q25 • Strategic U.S. Concentration: Q4 proprietary revenue was led by US game
Slide 8: Shift in Revenue Concentration
Strategic Shift to Exclusive & Owned Content Sets Stage for Margin Growth (Lowest Margin) (Medium Margin) (Highest Margin) Aggregated Content Exclusive Content Proprietary Content Shift in Revenue Concentration 43% of Revenue 16% of Revenue 16% of Revenue • Entry point with operators • Royalties sha
Slide 9: Summary & Outlook
Summary & Outlook .01 .04 Fourth quarter revenue in Full Year Revenue & AEBITDA focus markets: U.S.(+55%) & growth of 4% & 5% Brazil (+42%)1 respectively .02 .05 +21% increase in high margin Full year 2026 guidance: proprietary content revenue1, Revenue EUR 97.0 – 104.5 million; driven by U.S. growt
Slide 10: Thank you
Thank you 10
Slide 11: Appendix: Adjusted EBITDA Reconciliation
Appendix: Adjusted EBITDA Reconciliation Reconciliation of Operating Income (Loss) to Adjusted EBITDA Three Months Ended December 31, EUR 000 2025 2024 Net Loss (1,341) (678) Income taxes expenses (recovery) 758 (763) Loss Before Income Taxes (583) (1,441) Net interest expense and other financing ch