Evolution AB (publ) (EVO) Earnings Call Transcripts

Evolution AB (publ)'s Latest Earnings Call - Q1 FY2026

In Q1 2026, Evolution AB reported net revenues of EUR 513 million, reflecting a year-on-year decline of 1.5%. EBITDA was EUR 335.3 million with a margin of 65.4%. Management indicated that while Europe continues to struggle due to regulatory challenges, both North America and Latin America achieved record revenues, with North America growing approximately 21% year-on-year in USD. The company maintained its long-term positive outlook but expressed frustration over delayed game releases, primarily scheduled for the second half of 2026.

Reported metrics

Guidance from management

Management maintained a long-term positive outlook but expressed caution regarding Europe. They emphasized continued investment in North America and Latin America, with a focus on product innovation for the remainder of 2026.

What management said

I think that -- I will briefly comment on it, but I think that the regulation in many countries stays the same. But the subjective evaluation or the implementation of the regulations have changed. So even though the regulatory framework stays the same, suddenly, it's applied in a different way. That's what I mean with the subjectivity.

I think that we need to be cautious. We need to be also prepared for -- as I write in the - it's a little bit of a cat and mouse game. And we methodically systematically work on the situation, as you can see, and we're very happy with the 2 quarters in a row where we grow, but we're just a little bit cautious in our communication.

What analysts pressed on

Analysts expressed concerns about the ongoing regulatory challenges in Europe and the potential impact on player activity. Questions were raised about the effectiveness of new game releases in reversing the current trend in Europe and the implications of the legal proceedings on future operations.

Main topics on the call

• Regional Performance Disparity — Europe's performance was notably weak, with management stating, "Europe is not performing well at the moment," while North America and Latin America reported record revenues. North America saw a year-on-year growth of ro...
• Product Roadmap and Innovation — Evolution's product roadmap for 2026 is ambitious, with several new MONOPOLY-themed games set to launch. CEO Carlesund noted, "the big splash is still ahead of us," emphasizing the importance of these releases for future...
• Regulatory Challenges in Europe — Management highlighted ongoing regulatory volatility in Europe, stating, "the balance is not where it should be," which has negatively impacted player activity and channelization. This remains a significant concern for t...
• Cash Flow and Financial Stability — Operating cash flow improved to EUR 311 million, with a cash conversion rate of 81%. CFO Andersson mentioned, "we continue to be in a very strong position," indicating solid financial health despite revenue declines.

Read the full Evolution AB (publ) transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 32 Evolution AB (publ) earnings call transcripts on record, spanning February 12, 2020 to July 17, 2026. Based on this history, Evolution AB (publ) reports quarterly. The most recent call on file is dated July 17, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

EVO

Exchange

OM

Country

SE

Sector

Consumer Discretionary

Industry

Hotels, Restaurants and Leisure

Calls on record

32

First call

February 12, 2020

Most recent

July 17, 2026

Reporting cadence

quarterly