Evolution posts Q3 2026 revenues of €526.1m and adjusted EBITDA €345.9m

Evolution AB reported net revenues of €526.1 million for the third quarter of 2026 and adjusted EBITDA of €345.9 million, the company said on 23 October 2026. For the nine months to September 2026, Evolution recorded net revenues of €1,557.0 million and adjusted EBITDA of €1,022.2 million.

Quarterly and nine-month headline figures

For Q3 2026 (comparable period Q3 2025 in parentheses) Evolution reported:

• Net revenues of €526.1 million (€507.1)

• Adjusted EBITDA of €345.9 million (€336.9), equivalent to an adjusted EBITDA margin of 65.8% (66.4)

• Profit for the period of €243.3 million (€252.3)

• Earnings per share of €1.31 (€1.25)

For January–September 2026 (9M 2025) the company reported:

• Net revenues of €1,557.0 million (€1,552.3)

• Adjusted EBITDA of €1,022.2 million (€1,024.1), corresponding to a margin of 65.7% (66.0)

• Profit for the period of €746.7 million (€755.3)

• Earnings per share of €3.85 (€3.71)

Evolution described the quarter as “uneventful” with focus on core business and recurring product releases.

Regional performance and product lines

All regions reported quarter-on-quarter growth, the company said. Europe grew 0.4% quarter on quarter and Asia 0.8% quarter on quarter. Year-on-year growth was strong in several markets: North America increased 13.6%, Latin America 23.1% and Africa 23.7%.

Both core product segments posted year-on-year gains: Live games rose by 2.6% and RNG titles by 10.1%.

During the quarter Evolution launched several new games, including Monopoly Roll’em and Disco Balls, and introduced the US-focused slots brand Spinning Whale. The company said the breakout title Ice Fishing will be rolled out in North America in Q4 2026, and that it plans a further large Hasbro-branded release called Game Night before year-end.

Brazil regulatory rollback and studio status

At the beginning of October 2026 Brazil’s regulatory framework was rolled back following a decision by the president, Evolution said. The company described the final outcome as unclear and said it is difficult to predict how Brazilian player behaviour will evolve. Evolution’s Brazilian studio is temporarily closed.

Evolution estimated that Brazil accounts for well below half of its Latin America revenues based on player IP split, and said momentum in the rest of LatAm will offset part of the impact from Brazil. The company said it is monitoring developments and focusing on supporting employees and managing practical consequences on the ground.

"Our immediate focus is on supporting our employees and managing the practical consequences on the ground," CEO Martin Carlesund said.

Governance, investors and licences

Evolution will present the report and answer questions at a telephone conference and webcast on Friday 23 October 2026 at 09:00 CEST; the presentation will be conducted by CEO Martin Carlesund and CFO Joakim Andersson and will be in English. The company noted that it is licensed and regulated by the Malta Gaming Authority under licence MGA/B2B/187/2010 and holds licences in other jurisdictions including the United Kingdom, Belgium, Canada, Romania and South Africa. Evolution describes itself as a B2B online casino supplier with some 870 operator customers and approximately 23,400 employees globally. Visit the company site for further corporate information.

For investor relations the contact is CFO Joakim Andersson ([email protected]).

About the company's B2B business model and its regulatory footprint, Evolution highlighted the MGA licence in its release. For details on the presentation schedule see the company's investor notice under news and for regulation updates refer to the company's comments in the release and regulator sites regulation.