Bragg Gaming (BRAG) Gross Margin (2020 - 2025)
Bragg Gaming (BRAG) posted Gross Margin of 56.54% for Q4 2025, up 3.44% sequentially from 54.66% in Q3 2025, and down 150.0% YoY from 113.08% in Q4 2024.
Bragg Gaming (BRAG) Gross Margin (2020 - 2025) Analysis & Trends
Bragg Gaming has reported Gross Margin for 6 years, with the latest figure at 56.54% in Q4 2025.
- Quarterly Gross Margin fell 150.0% year-over-year to 56.54% in Q4 2025, while the trailing twelve-month figure through Dec 2025 was 54.98% (up 201.0% YoY) and the FY2025 annual result came in at 54.99%, up 201.0% from the prior year.
- Gross Margin grew to 56.54% in Q4 2025 per BRAG's latest filing, from 54.66% in the prior quarter.
- Over five years, Gross Margin peaked at 58.03% in Q4 2024 and troughed at 45.35% in Q2 2021.
- A 5-year average of 52.58% and a median of 52.61% in 2023 frame the typical range for Gross Margin.
- The sharpest annual moves came in 2022 and 2024: Gross Margin surged 1057 bps in 2022, then slumped 602 bps in 2024.
- Over 5 years, Gross Margin stood at 51.0% in 2021, then gained by 8 bps to 54.85% in 2022, then dropped by 6 bps to 51.53% in 2023, then climbed by 13 bps to 58.03% in 2024, then fell by 3 bps to 56.54% in 2025.
- According to Business Quant data, Gross Margin over the past three periods registered 56.54%, 54.66%, and 52.7% for Q4 2025, Q3 2025, and Q2 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Flutter Entertainment | 17.63 Bn | 16.07 Bn | 1.71 Bn | 39.60% |
| 2 | DraftKings | 12.55 Bn | 11.56 Bn | 551.45 Mn | 38.21% |
| 3 | Super Group (SGHC) | 6.69 Bn | 6.27 Bn | - | - |
| 4 | Churchill Downs | 6.45 Bn | 6.25 Bn | 712.00 Mn | 72.65% |
| 5 | Rush Street Interactive | 2.81 Bn | 2.47 Bn | 139.66 Mn | 35.47% |
| 6 | Brightstar Lottery | 2.20 Bn | 926.38 Mn | 297.00 Mn | 50.60% |
| 7 | Accel Entertainment | 984.47 Mn | 729.02 Mn | 115.51 Mn | 31.38% |
| 8 | Codere Online Luxembourg | 410.87 Mn | 341.44 Mn | - | - |
| 9 | Inspired Entertainment | 179.24 Mn | 154.84 Mn | 52.10 Mn | 85.69% |
| 10 | Bragg Gaming | 37.63 Mn | 33.79 Mn | 16.54 Mn | 55.46% |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 56.54% |
| Sep 30, 2025 | 54.66% |
| Jun 30, 2025 | 52.70% |
| Mar 31, 2025 | 56.00% |
| Dec 31, 2024 | 58.03% |
| Sep 30, 2024 | 53.51% |
| Jun 30, 2024 | 49.89% |
| Mar 31, 2024 | 49.88% |
| Dec 31, 2023 | 51.53% |
| Sep 30, 2023 | 52.52% |
| Jun 30, 2023 | 55.91% |
| Mar 31, 2023 | 53.46% |
| Dec 31, 2022 | 54.85% |
| Sep 30, 2022 | 49.98% |
| Jun 30, 2022 | 55.92% |
| Mar 31, 2022 | 51.76% |
| Dec 31, 2021 | 51.00% |
| Sep 30, 2021 | 51.35% |
| Jun 30, 2021 | 45.35% |
| Mar 31, 2021 | 46.84% |