Canada · Delayed Price · Currency is CAD Pollard Banknote Earnings Call Transcripts
Fiscal Year 2025
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Record revenue and major contract wins in 2025 were offset by startup losses in Kansas iLottery and regulatory headwinds in Minnesota eTabs, but margins and EBITDA are expected to improve in 2026 as digital and instant ticket segments recover.
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Record sales achieved with major contract wins in Belgium and California, boosting long-term growth prospects. Gross margin and net income declined due to Kansas iLottery startup costs and regulatory headwinds, but margin improvement is expected in 2026 as new initiatives and contracts ramp up.
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Q2 2025 saw higher revenue but lower margins and net income due to lower instant ticket volumes, Kansas iLottery startup costs, and Minnesota eTAB regulatory changes. NeoPollard Interactive JV and charitable gaming acquisitions drove growth, with Q3 volumes and margins expected to improve.
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First quarter saw record combined sales and net income growth, driven by higher instant ticket margins, strong digital and iLottery performance, and successful Kansas iLottery launch. Gross margins are expected to recover as digital business expands and startup costs subside.
Fiscal Year 2024
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Record annual sales and EBITDA were achieved, driven by repricing, digital growth, and acquisitions. Q4 saw lower margins due to production issues and ramp-up costs for Kansas iLottery, but 2025 is expected to benefit from higher prices and digital expansion.
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Record Q3 results with 18% sales growth and 34% higher Adjusted EBITDA, driven by repriced instant ticket contracts, strong iLottery and charitable gaming performance, and strategic acquisitions. Full impact of repricing and new technology launches expected in 2025.