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Jun 30
Brightstar Lottery Q2 2025 Earnings Report
Brightstar reported a Q2 net loss due to restructuring and FX impacts, despite resilient revenues and strong cash flow generation.
Key Takeaways
Brightstar Lottery PLC posted Q2 2025 revenues of $631 million and an operating income of $139 million. However, foreign exchange losses and restructuring charges led to a net loss of $60 million. Despite the loss, the company maintained strong liquidity with over $1.3 billion in cash and delivered $274 million in Adjusted EBITDA.
Revenue reached $631 million, up 3% YoY
Operating income was $139 million with a 22.0% margin
Net loss of $60 million driven by $99 million FX loss and $21 million restructuring charge
Free cash flow of $167 million and $1.3 billion in cash on hand
Brightstar Lottery
Brightstar Lottery
Brightstar Lottery Revenue by Segment
Brightstar Lottery Revenue by Geographic Location
Revenue by Segment
Instant & Draw Revenue
CapyFin.comMulti-State Jackpot Revenue
CapyFin.comOther Services Revenue
CapyFin.comProduct Sales Revenue
CapyFin.comRevenue by Geographic Location
U.S. & Canada Revenue
CapyFin.comItaly Revenue
CapyFin.comRest of World Revenue
CapyFin.com Forward Guidance
Brightstar reaffirmed its FY'25 Adjusted EBITDA outlook of $1.10 billion, while slightly lowering revenue due to a timing shift in product sales and increasing Italy Lotto amortization.
Positive Outlook
- Adjusted EBITDA guidance maintained at $1.10 billion
- Improved outlook on cash flow from operating activities
- Capital expenditures lowered by $75 million due to timing shifts
- Positive foreign currency translation benefits expected
- Debt reduced by $2 billion following Gaming & Digital sale
Challenges Ahead
- FY'25 revenue outlook trimmed by $50 million
- Increased amortization from Italy Lotto upfront fees
- Continued drag from lower multi-state jackpot revenue
- Restructuring charges related to OPtiMa 3.0 expansion
- Exposure to EUR/USD exchange rate volatility remains