Poland · Delayed Price · Currency is PLN Huuuge Earnings Call Transcripts
Fiscal Year 2025
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Revenue stabilized in 2025 with strong D2C growth and record profitability, despite a challenging social casino market. 2026 guidance anticipates slight revenue and EBITDA declines, with continued focus on D2C expansion and disciplined M&A in iGaming.
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Q3 2025 saw revenue decline 5% year-over-year, but adjusted EBITDA rose 3.3% and D2C revenue share hit record highs. A $120 million share buyback was completed, and a new policy will return 50%-100% of free cash flow to shareholders starting in 2026.
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Q2 saw revenue decline 7% year-over-year to $59M, but profitability remained strong with a 41% EBITDA margin and $25M in net operating cash flow. A $120M share buyback and new capital return policy were announced, while D2C revenue doubled and iGaming market entry is planned for 2027.
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Q1 2025 saw revenue stabilize at $62.4M (+1% QoQ), with record 40.5% Adjusted EBITDA margin and strong D2C growth. Focus remains on core games, iGaming research, disciplined M&A, and potential share buybacks, with guidance for higher margins and lower costs in 2025.
Fiscal Year 2024
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Q4 2024 saw revenue stabilization and record profitability, driven by product improvements and D2C growth. Cost discipline, a strong cash position, and a focus on new features and markets position the business for higher EBITDA and sustainable growth in 2025.
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Q3 2024 saw a 17.5% year-over-year revenue decline but a sequential rise in Adjusted EBITDA margin to 36%, driven by strict cost control and D2C channel growth. Major product updates and further D2C expansion are expected to boost performance in late Q4 and early 2025.
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Q2 2024 saw revenue and EBITDA declines due to social casino market weakness and delayed feature launches, but gross margin improved and D2C sales grew to 12%. Strong cash flow and a $110M cash balance support ongoing M&A and new game investments.