Bragg Gaming (BRAG) Operating Expenses (2020 - 2025)
Bragg Gaming (BRAG) posted Operating Expenses of $128.9 million for Q4 2025, up 773.78% sequentially from -$19.1 million in Q3 2025, and up 22.41% YoY from $105.3 million in Q4 2024.
Bragg Gaming (BRAG) Operating Expenses (2020 - 2025) Analysis & Trends
Bragg Gaming has reported Operating Expenses for 6 years, with the latest figure at $128.9 million in Q4 2025.
- Quarterly Operating Expenses rose 22.41% year-over-year to $128.9 million in Q4 2025, while the trailing twelve-month figure through Dec 2025 was $74.5 million (up 27.52% YoY) and the FY2025 annual result came in at $69.8 million, up 16.3% from the prior year.
- Operating Expenses climbed to $128.9 million in Q4 2025 per BRAG's latest filing, from -$19.1 million in the prior quarter.
- Over five years, Operating Expenses peaked at $128.9 million in Q4 2025 and troughed at -$19.1 million in Q3 2025.
- A 5-year average of $13.2 million and a median of -$12.9 million in 2022 frame the typical range for Operating Expenses.
- The widest YoY moves for Operating Expenses: up 62.04% in 2021, down 118.7% in 2021.
- Over 5 years, Operating Expenses stood at $68.1 million in 2021, then climbed by 20.34% to $81.9 million in 2022, then grew by 15.84% to $94.9 million in 2023, then gained by 10.97% to $105.3 million in 2024, then grew by 22.41% to $128.9 million in 2025.
- According to Business Quant data, Operating Expenses over the past three periods registered $128.9 million, -$19.1 million, and -$18.2 million for Q4 2025, Q3 2025, and Q2 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Flutter Entertainment | 17.95 Bn | 16.39 Bn | 1.71 Bn | 1.56 Bn |
| 2 | DraftKings | 12.99 Bn | 12.00 Bn | 551.45 Mn | 491.98 Mn |
| 3 | Super Group (SGHC) | 6.71 Bn | 6.29 Bn | - | -470.00 Mn |
| 4 | Churchill Downs | 6.57 Bn | 6.37 Bn | 712.00 Mn | 623.00 Mn |
| 5 | Rush Street Interactive | 2.84 Bn | 2.50 Bn | 139.66 Mn | 347.55 Mn |
| 6 | Brightstar Lottery | 2.25 Bn | 980.32 Mn | 297.00 Mn | 60.00 Mn |
| 7 | Accel Entertainment | 987.75 Mn | 732.30 Mn | 115.51 Mn | 336.07 Mn |
| 8 | Codere Online Luxembourg | 415.46 Mn | 346.04 Mn | - | - |
| 9 | Inspired Entertainment | 175.48 Mn | 151.08 Mn | 52.10 Mn | 24.20 Mn |
| 10 | Bragg Gaming | 38.14 Mn | 34.30 Mn | 16.54 Mn | -18.86 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 128.92 Mn |
| Sep 30, 2025 | -19.13 Mn |
| Jun 30, 2025 | -18.21 Mn |
| Mar 31, 2025 | -17.08 Mn |
| Dec 31, 2024 | 105.32 Mn |
| Sep 30, 2024 | -17.21 Mn |
| Jun 30, 2024 | -15.44 Mn |
| Mar 31, 2024 | -14.25 Mn |
| Dec 31, 2023 | 94.91 Mn |
| Sep 30, 2023 | -15.04 Mn |
| Jun 30, 2023 | -14.90 Mn |
| Mar 31, 2023 | -13.38 Mn |
| Dec 31, 2022 | 81.93 Mn |
| Sep 30, 2022 | -12.82 Mn |
| Jun 30, 2022 | -12.99 Mn |
| Mar 31, 2022 | -12.76 Mn |
| Dec 31, 2021 | 68.08 Mn |
| Sep 30, 2021 | -10.94 Mn |
| Jun 30, 2021 | -11.48 Mn |
| Mar 31, 2021 | -8.93 Mn |