Mixed Financial Results for Bet-at-home.com AG

On September 23, 2026, NuWays AG released a research update on Bet-at-home.com AG. The firm's Q2 financials revealed notable variances. While net revenue showed robust growth, the reported EBITDA fell short of expectations due to specific one-off litigation costs and increased expenses for new software contracts.

The company reported a 9.8% rise in gross betting and gaming revenue year-on-year, with net revenue climbing 17% to € 10.4 million. However, EBITDA was negative at € -1.5 million, mainly due to heightened marketing and operational costs associated with the 2026 FIFA World Cup and legal settlements.

Looking forward, internal improvements and strategic investments are expected to bolster the second half of 2026, with a projection of € 49 million in gross revenue and € 0.5 million EBITDA. The guidance for the year remains steady at € 46-54 million in revenue and € 0-4 million EBITDA. The long-term outlook remains positive, supported by potential legal outcomes and new product launches.