Bragg Gaming (BRAG) Operating Expenses (2020 - 2025)

Bragg Gaming (BRAG) posted quarterly Operating Expenses of $126.0 million for Q4 2025, up 12.37% year-on-year from $112.2 million in Q4 2024, and up 776.68% on a QoQ basis from -$18.6 million in Q3 2025.

Bragg Gaming (BRAG) Operating Expenses (2020 - 2025) Analysis & Trends

Bragg Gaming (BRAG) has reported Operating Expenses for 6 consecutive years, with $126.0 million the latest figure, recorded in Q4 2025.

  • Quarterly Operating Expenses rose 12.37% year-over-year to $126.0 million in Q4 2025, while the trailing twelve-month figure through Dec 2025 was $70.6 million (up 11.96% YoY) and the FY2025 annual result came in at $70.3 million, up 11.41% from the prior year.
  • Operating Expenses climbed to $126.0 million in Q4 2025 per BRAG's latest filing, from -$18.6 million in the prior quarter.
  • Over the last five years, Operating Expenses for BRAG reached as high as $126.0 million in Q4 2025 and fell as low as -$18.6 million in Q3 2025.
  • A 5-year average of $13.8 million and a median of -$14.0 million in 2022 frame the typical range for Operating Expenses.
  • The largest YoY upside for Operating Expenses was 68.88% in 2021 against a maximum downside of 116.62% in 2021.
  • Year by year, Operating Expenses stood at $67.7 million in 2021, then soared by 34.93% to $91.4 million in 2022, then rose by 9.84% to $100.4 million in 2023, then rose by 11.73% to $112.2 million in 2024, then advanced by 12.37% to $126.0 million in 2025.
  • According to Business Quant data, Operating Expenses over the past three periods registered $126.0 million, -$18.6 million, and -$18.3 million for Q4 2025, Q3 2025, and Q2 2025 respectively.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Codere Online Luxembourg 425.84 Bn 425.77 Bn - -
2 Flutter Entertainment 19.13 Bn 17.62 Bn 1.84 Bn 1.50 Bn
3 DraftKings 12.12 Bn 11.11 Bn 696.69 Mn 289.11 Mn
4 Super Group (SGHC) 7.57 Bn 7.15 Bn - -470.00 Mn
5 Churchill Downs 6.27 Bn 6.17 Bn 464.00 Mn 520.00 Mn
6 Rush Street Interactive 3.15 Bn 2.82 Bn 132.17 Mn 327.58 Mn
7 Brightstar Lottery 1.94 Bn 670.63 Mn 297.00 Mn 60.00 Mn
8 Accel Entertainment 1.02 Bn 746.37 Mn 350.92 Mn 324.48 Mn
9 Inspired Entertainment 207.07 Mn 163.57 Mn 54.60 Mn 24.30 Mn
10 Bragg Gaming 40.73 Mn 33.16 Mn 17.81 Mn 126.03 Mn

Historic Data

Download Data
DateValue
Dec 31, 2025 126.03 Mn
Sep 30, 2025 -18.62 Mn
Jun 30, 2025 -18.31 Mn
Mar 31, 2025 -18.48 Mn
Dec 31, 2024 112.16 Mn
Sep 30, 2024 -17.83 Mn
Jun 30, 2024 -16.31 Mn
Mar 31, 2024 -14.93 Mn
Dec 31, 2023 100.38 Mn
Sep 30, 2023 -15.72 Mn
Jun 30, 2023 -15.57 Mn
Mar 31, 2023 -14.18 Mn
Dec 31, 2022 91.38 Mn
Sep 30, 2022 -14.47 Mn
Jun 30, 2022 -13.85 Mn
Mar 31, 2022 -12.94 Mn
Dec 31, 2021 67.72 Mn
Sep 30, 2021 -10.56 Mn
Jun 30, 2021 -10.85 Mn
Mar 31, 2021 -8.42 Mn