Inspired Entertainment reduced the low end of full-year guidance to $109 million after Brazil’s shutdown, while third-quarter 2026 EBITDA margin reached 46% and senior secured net leverage was about 2.8 times.
INSE · Inspired Entertainment, Inc.
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Inspired Entertainment, Inc. reported third-quarter revenue of $61.4 million and Adjusted EBITDA of $28.2 million, while cutting 2026 Adjusted EBITDA guidance to $109 million — $112 million from $112 million — $118 million due to Brazil’s shutdown of regulated online betting and gaming.
Inspired Entertainment reported nine-month revenue of $179.4 million, down 21%, and a net loss of $0.4 million versus $9.8 million. Brazil’s provisional ban on regulated online betting and gaming is expected to hurt operations while it remains in force.
Inspired Entertainment, Inc.’s Board decided to hold advisory Say-on-Pay votes annually at each Annual Meeting of Stockholders.
Metrics snapshot
Useful current figures from the complete screener profile.
Quarterly results
* Q4 derived as the full year minus Q1 to Q3.
AI Brief
Q3 FY26 earnings call · Nov 5, 2026TL;DR. Inspired delivered a record 46% Adjusted EBITDA margin, like-for-like revenue growth of approximately 9%, strong U.S. Interactive growth, leverage well below the covenant, and new U.S. Virtual Sports launches, while continuing to prioritize debt reduction and share repurchases. Brazil’s shutdown reduced FY2026 guidance and pushed the growth curve to the right, while reported Adjusted EBITDA and adjusted net income declined and UK taxes and free-cash-flow conversion remain headwinds.
- + Adjusted EBITDA increased 4% sequentially to $28.2 million, delivering a record 46% margin.
- + Like-for-like revenue increased approximately 9% after adjusting for higher UK gaming taxes, with Adjusted EBITDA growing at approximately twice that pace.
- + U.S. Interactive GGR grew over 30% year over year and significantly outpaced broader U.S. iGaming market growth.
- + Senior secured net leverage was about 2.8 times, leaving over $46 million of covenant EBITDA headroom.
- + The company expanded its U.S. digital footprint through Virtual Sports launches with the Massachusetts Lottery and FanDuel in the fourth quarter.
- + Capital allocation priorities include continued debt reduction and share repurchases.
- − FY2026 Adjusted EBITDA guidance was reduced to $109 million–$112 million from $112 million–$118 million, primarily reflecting Brazil’s suspension of regulated online gaming.
- − Third-quarter total company Adjusted EBITDA declined 13% year over year to $28.2 million.
- − Third-quarter adjusted net income declined 66% year over year to $2.8 million.
- − The UK machine-gaming duty increase is expected to create a $2 million–$3 million impact beginning in April 2027.
- − Full-year 2026 free cash flow conversion is now expected to be slightly below the company’s 20% target because of Brazil’s lost earnings contribution.
- − Management expects 2027 growth to be only modest because Brazil is assumed to remain shut and the lost contribution must first be recovered.
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
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Guidance & track record
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders NeutralIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Adjusted EBITDA non-GAAP | $50.7M | Six Months Ended June 30, 2026 | — |
| Adjusted EBITDA Margin non-GAAP | 43% | Six Months Ended June 30, 2026 | — |
| Adjusted Net (Loss) Income per diluted share non-GAAP | $0.03 | Six Months Ended June 30, 2026 | — |
| Adjusted Net income non-GAAP | $0.9M | Six Months Ended June 30, 2026 | — |
| Corporate Adjusted EBITDA non-GAAP | -$16.9M | Three Months Ended June 30, 2026 | — |
| Total Company Adjusted EBITDA non-GAAP | $50.7M | Six Months Ended June 30, 2026 | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Gambling — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
INSE
this stock
Inspired Entertainment, Inc.
|
$116.01M | -53.0% | +30.2% | — | 4.7% |
|
GRKZF
Greek Organisation of Football Prognostics S.A.
|
$18.00B | — | — | — | 0.0% |
|
DKNG
DraftKings Inc.
|
$16.84B | -45.2% | +27.0% | — | 4.8% |
|
FLUT
Flutter Entertainment plc
|
$14.11B | -62.3% | +16.6% | — | 9.8% |
|
LOTMY
Lottomatica Group S.p.A.
|
$7.09B | +16.5% | — | — | 0.0% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every section- Filed
- Nov 5, 2026
- This year
- 14
Inspired Entertainment reported nine-month revenue of $179.4 million, down 21%, and a net loss of $0.4 million versus $9.8 million. Brazil’s provisional ban on regulated online betting and gaming is expected to hurt operations while it remains in force.
ViewPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| INSE | +18.9% | +34.6% | -39.9% | +23.3% | -53.0% |
| SPY | +2.6% | -1.2% | +0.5% | -0.2% | +10.6% |
| vs SPY | +16.3% | +35.7% | -40.4% | +23.4% | -63.6% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.