Bragg Gaming (BRAG) Operating Expenses (2020 - 2025)
Bragg Gaming (BRAG) posted Operating Expenses of $128.9 million for Q4 2025, up 783.82% on a QoQ basis from -$18.9 million in Q3 2025, and up 22.7% year-over-year from $105.1 million in Q4 2024.
Bragg Gaming (BRAG) has 6 years of Operating Expenses data on file, last reported at $128.9 million in Q4 2025.
- In Q4 2025, Operating Expenses rose 22.7% year-over-year to $128.9 million; the TTM figure through Dec 2025 stood at -$16.5 billion (down 23.56% YoY), while the FY2025 annual figure was $70.0 million, up 14.01% from the prior year.
- Operating Expenses improved to $128.9 million in Q4 2025, from -$18.9 million in the prior quarter.
- Across five years, Operating Expenses topped out at $128.9 million in Q4 2025 and bottomed at -$16.6 billion in Q1 2025.
- A 5-year average of -$1.5 billion and a median of -$12.3 million in 2022 frame the typical range for Operating Expenses.
- Annual changes were most pronounced in 2021 — Operating Expenses surged 62.04% — and 2024, when it tumbled 103558.33%.
- Year by year, Operating Expenses stood at $68.1 million in 2021, then grew by 20.34% to $81.9 million in 2022, then grew by 16.19% to $95.2 million in 2023, then rose by 10.37% to $105.1 million in 2024, then climbed by 22.7% to $128.9 million in 2025.
- The last three Operating Expenses figures came in at $128.9 million (Q4 2025), -$18.9 million (Q3 2025), and -$18.7 million (Q2 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Flutter Entertainment | 18.39 Bn | 17.30 Bn | 1.84 Bn | 792.00 Mn |
| 2 | DraftKings | 13.23 Bn | 12.22 Bn | 696.69 Mn | 289.11 Mn |
| 3 | Churchill Downs | 6.28 Bn | 6.13 Bn | 475.00 Mn | 520.00 Mn |
| 4 | Rush Street Interactive | 2.60 Bn | 2.43 Bn | 132.17 Mn | 327.58 Mn |
| 5 | Brightstar Lottery | 2.28 Bn | 2.94 Bn | - | - |
| 6 | Accel Entertainment | 1.01 Bn | 735.58 Mn | 109.94 Mn | 324.48 Mn |
| 7 | Codere Online Luxembourg | 490.38 Mn | 420.96 Mn | - | - |
| 8 | Bragg Gaming | 269.74 Mn | 261.99 Mn | 18.22 Mn | 128.91 Mn |
| 9 | Inspired Entertainment | 233.43 Mn | 189.93 Mn | 54.60 Mn | 24.30 Mn |
| 10 | High Roller Technologies | 45.23 Mn | 42.56 Mn | - | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 128.91 Mn |
| Sep 30, 2025 | -18.85 Mn |
| Jun 30, 2025 | -18.70 Mn |
| Mar 31, 2025 | -16.63 Bn |
| Dec 31, 2024 | 105.06 Mn |
| Sep 30, 2024 | -16.55 Mn |
| Jun 30, 2024 | -14.99 Mn |
| Mar 31, 2024 | -13.46 Bn |
| Dec 31, 2023 | 95.19 Mn |
| Sep 30, 2023 | -14.32 Mn |
| Jun 30, 2023 | -14.47 Mn |
| Mar 31, 2023 | -12.98 Mn |
| Dec 31, 2022 | 81.93 Mn |
| Sep 30, 2022 | -12.32 Mn |
| Jun 30, 2022 | -12.26 Mn |
| Mar 31, 2022 | -11.54 Mn |
| Dec 31, 2021 | 68.08 Mn |
| Sep 30, 2021 | -10.53 Mn |
| Jun 30, 2021 | -10.70 Mn |
| Mar 31, 2021 | -8.63 Mn |
| Dec 31, 2020 | 42.02 Mn |
| Sep 30, 2020 | -4.92 Mn |