Growth Metrics

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 🔒
DateValue
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