11/13/2025

speaker
Calvin
Conference Operator

Good morning, ladies and gentlemen, and thank you for standing by. My name is Calvin, and I will be your conference operator today. At this time, I would like to welcome everyone to the BRAC Gaming Group Third Quarter 2025 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, please press star one again. Thank you. I would now like to turn the call over to Stephen Kilmer, head of investor relations for Bragg Gaming Group. Please go ahead.

speaker
Stephen Kilmer
Head of Investor Relations

Thank you. Good morning, everyone, and thank you for joining us for Bragg Gaming Group's third quarter 2025 earnings call. My name is Stephen Kilmer, and I recently came on board to manage Bragg's IR function. I'm not quite in-house at Bragg, nor would I say that I work for an external agency. I think the best way for me to describe myself is that I'm a bright fractional head of IR. I've been running that function for technology companies since the mid-90s. And before that, I worked for one of the top full-tech news wires as well as an investment advisor at what eventually became Merrill Lynch Canada. My contact information is at the bottom of today's press release, and I hope to get to know many of you as well as we move forward. With that said, some housekeeping for this call. If you're connected to our online webcast today, you should see our third quarter earnings presentation on your screen, and you should have control to flip the slides yourself as you listen to this call. If you have joined by telephone, please note that you can find our third quarter earnings presentation, as well as financial results, press release, financial statements, and NG&A on our website at investors.brag.group. Please note that certain statements on this call may constitute foreign-linked information or future-oriented financial information. A full explanation of risk factors is available on the second slide in our third quarter 2025 earnings presentation, titled forward-looking statements, as well as in the recently filed press release and other public plans. Braddock disclaims any obligation, except as required by law, to update or revise any forward-looking statements, whether because of new information, future events, or otherwise. And forward-looking statements made on this call speak only as of the date of this call. On this call, Bragg Gaming Group's CEO, Mitaj Nazi, and CFO, Robbie Bresler, will discuss the company's third quarter performance, followed by a question and answer session. I'd now like to turn the call over to Mitaj.

speaker
Mitaj Nazi
Chief Executive Officer

Thank you, Stephen, and good morning, everyone. Thank you for joining us for Bragg Gaming Group's third quarter 2025 earnings call, where Bragg dual listed on the NASDAQ and the Toronto Stock Exchange. And we are a specialist supplier of games and technology, the regulated iGaming market. We create and deliver cutting edge online casino games, both from our own in-house studios and from top tier in-demand partner studios. We empower online casino, sports betting and lottery operators to launch, run, scale, and optimize their apps and websites. And through everything we do, we enhance the end user experience by leveraging advanced analytics and AI to drive engagement and smarter, more efficient iGaming operations. During the third quarter, we continued to see high double digit growth in our focus markets of the USA, where we saw 86% year over year revenue growth and in Brazil, which saw revenue growth of 80% compared to the same period last year. The USA was a key driver of the 35% year-over-year growth overall that we have seen in proprietary content revenue, and we continue to roll out strong titles from our proprietary game studios, which include Wild Street Gaming and Atomic Slot Lab. Overall, revenue growth when factoring out the Netherlands a jurisdiction which I'll discuss further later in this call, was 20% up compared to the third quarter of last year, demonstrating the continued demand for Bragg's products and services in regulated iGaming markets around the world. During the quarter, we continued to showcase our games development expertise with the rollout of two new bespoke online casino games developed for our partner Hard Rock in the United States, among many other game launches. We secured a Tier 1 credit line with the Bank of Montreal, underscoring Bragg's creditworthiness. We continue to be focused on optimizing our cost structure, which allows us to deliver operational leverage. And as Robbie will now go into in more detail, we are pleased to be reporting revenue, gross profit, and adjusted EBITDA in line with our expectations for the third quarter of the year. I'll be back to discuss some of these points in more detail after you have heard from our Chief Financial Officer, Robbie Bressler, who will now discuss the third quarter financials. Robbie?

Disclaimer

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Investor presentation