Evolution Q3 2026: Revenue Rises as All Regions Grow for First Time Since 2024

25/10/2026
Evolution Q3 2026: Revenue Rises as All Regions Grow for First Time Since 2024

Casino game supplier Evolution has released its financial results for the third quarter of 2026. Revenue and adjusted EBITDA went up, while profit was slightly lower than a year earlier.

Quarterly figures

Net revenue for the quarter was EUR 526.1 million, up 3.7% from EUR 507.1 million in Q3 2025. Adjusted EBITDA increased 2.7% to EUR 345.9 million, compared with EUR 336.9 million a year before. This gives an EBITDA margin of 65.8%.

Profit for the period fell to EUR 243.3 million, down from EUR 252.3 million. Earnings per share still improved, reaching EUR 1.31 compared with EUR 1.25 in the same quarter last year.

Nine-month results

For the first nine months of 2026, Evolution reported:

  • Net revenue of EUR 1,557 million, up 0.3% from EUR 1,552.3 million
  • Adjusted EBITDA of EUR 1,022.2 million, down 0.2% from EUR 1,024.1 million
  • Profit of EUR 746.7 million, down from EUR 755.3 million
  • Earnings per share of EUR 3.85, up from EUR 3.71

Growth in every region

The company said this was the first quarter since 2024 in which all of its operating regions grew. Europe and Asia, its two biggest markets, were stable, with growth of 0.4% and 0.8%. North America grew 13.6%, Latin America 23.1% and Africa 23.7%.

By product type, the Live segment grew 2.6% and the RNG segment, which covers digital games such as slots, grew 10.1%. Evolution also launched new products during the quarter and is working with toy and game company Hasbro on a new title called Game Night.

CEO comments

Chief executive Martin Carlesund described the period as an "uneventful quarter". He said the absence of major headwinds let the company concentrate on its core business.

Carlesund pointed to growing uncertainty in Brazil, where the online gaming market is under threat after a change in the country's approach to gambling. Evolution has temporarily closed its studio in Brazil and is monitoring the situation.

He also spoke about the idea of AI-powered live dealers. He said he does not expect AI to take over live casino in the near future. However, Evolution is open to exploring AI tools, and possibly AI dealers, as an addition to human dealers rather than a replacement.

Source: GamblingNews