Bragg Gaming Group Inc. (BRAG) AI Stock Analysis
BRAG AI stock analysis summary
AI ResearchBragg Gaming Group Inc. (BRAG) is a business-to-business online gaming technology and content provider to global iGaming operators. Over the trailing twelve months, the company generated revenue of $103.0M but recorded a net margin of -7.5% and an operating margin of -8.5%. With a market cap of $38.8M, the stock has declined 56.0% over the past year.
- Market cap
- $38.8M
- Revenue (TTM)
- $103.0M
- P/E
- — fwd 57.8x
- 1Y return
- -56.0% S&P 500 16.8%
- Avg. target
- $5.84 367.3% vs last close
Bull case
- Free cash flow improved substantially in FY2025, reaching $16.2M compared to negative $2.0M in FY2024.
- Valuation multiples appear low on sales and EBITDA, with an EV-to-revenue of 0.4x and an EV-to-EBITDA of 2.9x.
- Wall Street analysts have a mean price target of $5.84, representing an upside of 367.3% above the $1.25 closing price.
Bear case
- The company reported net losses in each year from FY2021 to FY2025, culminating in a net loss of $7.9M in FY2025.
- Quarterly revenue declined by 12.2% year-over-year in the quarter ended June 30, 2026.
- Liquidity is constrained with a current ratio of 0.89 and cash and short-term investments of only $3.3M as of June 30, 2026.
What Bragg Gaming does
Headquartered in Toronto, Canada, Bragg Gaming Group Inc. functions as a technology and content provider within the global gaming industry. The company specializes in business-to-business online gaming solutions, delivering a comprehensive suite of turnkey services to iGaming operators worldwide. Its offerings include slots, table games, cards, video bingo, scratch cards, live dealer games, and virtual sports, all accessible via its integrated platform. Bragg Gaming Group also provides managed operational and marketing services, complemented by proprietary content and strategic partnerships with third-party studios to distribute exclusive gaming titles across its international customer base.
Growth and profitability
Between FY2021 and FY2025, Bragg Gaming Group grew annual revenue from $58.3M to $103.6M, reflecting a 5-year revenue CAGR of 7.8%. Annual revenue rose 45.3% in FY2022, 10.4% in FY2023, 9.1% in FY2024, and 1.6% in FY2025. However, net income remained negative, moving from -$7.5M in FY2021 to -$7.9M in FY2025, while gross margin declined from 48.6% to 36.7%. For the trailing twelve months, revenue reached $103.0M with net margin at -7.5%. In the latest quarter ended June 30, 2026, quarterly revenue fell 12.2% year-over-year, while quarterly earnings growth increased 309.5%.
Balance sheet and cash flow
As of June 30, 2026, Bragg Gaming Group held $3.3M in cash and short-term investments against total debt of $6.3M, leaving net debt at $3.0M. The company had shareholders' equity of $59.4M, total assets of $91.2M, a debt-to-equity ratio of 0.11, and a current ratio of 0.89. In FY2025, operating cash flow was $16.6M, free cash flow reached $16.2M, and capital expenditures were $355,655. Over five years, the share count increased by 28.0%.
Valuation and performance
Bragg Gaming Group trades at a forward P/E of 57.8x, compared to the median of its US-listed Consumer Cyclical peers of 14.1x. Its price-to-sales multiple of 0.4x is lower than the peer median of 0.7x, and its EV-to-EBITDA stands at 2.9x versus the peer median of 11.1x. The company's enterprise value is $47.8M against a market capitalization of $38.8M. Over the past year, the stock fell 56.0%, trailing the S&P 500 (SPY) return of 16.8%, and is down 86.6% over five years.
What analysts expect
Wall Street coverage consists of 2 Buy and 2 Hold ratings, with no Strong Buy, Sell, or Strong Sell recommendations. The mean price target is $5.84, representing a 367.3% premium over the last close of $1.25 on October 16, 2026. For the current fiscal year ending December 31, 2026, analysts estimate revenue of $93.3M and an EPS of -$0.16. Bragg Gaming Group beat EPS estimates in 1 of the last 4 quarters, and its next earnings date is November 12, 2026.
Key risks and what to watch
- Gross margin narrowed from 53.0% in FY2024 to 36.7% in FY2025, signaling margin pressure.
- Total debt of $6.3M exceeds cash holdings of $3.3M, yielding net debt of $3.0M.
- Shareholder dilution has occurred, with the share count expanding 28.0% over a five-year span.
- The stock displays weak momentum, trading 28.0% below its 200-day average as of October 16, 2026.
AI-generated research summary. Written with AI from Quotelinks data as of October 16, 2026 and checked so every figure matches that data. For information only, not investment advice. Disclaimer
About this BRAG AI stock analysis
This page is an AI-written research summary of Bragg Gaming Group Inc. (BRAG). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.
Related: BRAG income statement, BRAG balance sheet, BRAG key metrics, BRAG analyst forecast, BRAG chart. See the BRAG stock overview for the latest quote and news.
BRAG AI stock analysis FAQ
Does Bragg Gaming Group pay a dividend?
No, Bragg Gaming Group does not pay a dividend.
What is Bragg Gaming Group's current valuation?
Bragg Gaming Group has a market capitalization of $38.8M and an enterprise value of $47.8M. It trades at a forward P/E of 57.8x, a price-to-sales ratio of 0.4x, and an EV-to-EBITDA of 2.9x.
When is Bragg Gaming Group's next earnings report?
The company's next earnings report is scheduled for November 12, 2026.
How has BRAG stock performed compared to the broader market?
BRAG shares dropped 56.0% over the past year and 86.6% over five years. In comparison, the S&P 500 gained 16.8% over the past year and 83.0% over five years.