Codere Online Reports Q4 2025 Financial Highlights
- Revenue Performance: Codere Online reported Q4 2025 revenue of €57.1 million, indicating growth compared to Q4 2024, yet the overall financial performance remains under pressure.
- Adjusted EBITDA: The adjusted EBITDA for Q4 2025 reached €6.7 million, which is €4.8 million higher than Q4 2024, demonstrating improvements in cost control and operational efficiency.
- Net Loss Situation: The net loss for 2025 was €1.8 million, contrasting sharply with a net income of €3.9 million in 2024, highlighting a significant decline in profitability that necessitates attention to future recovery strategies.
- Future Outlook: The company projects net gaming revenue for FY 2026 to be between €235 million and €245 million, with adjusted EBITDA expected to range from €15 million to €20 million, reflecting a cautiously optimistic view on future growth.
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- Revenue Performance: Codere Online reported Q4 2025 revenue of €57.1 million, indicating growth compared to Q4 2024, yet the overall financial performance remains under pressure.
- Adjusted EBITDA: The adjusted EBITDA for Q4 2025 reached €6.7 million, which is €4.8 million higher than Q4 2024, demonstrating improvements in cost control and operational efficiency.
- Net Loss Situation: The net loss for 2025 was €1.8 million, contrasting sharply with a net income of €3.9 million in 2024, highlighting a significant decline in profitability that necessitates attention to future recovery strategies.
- Future Outlook: The company projects net gaming revenue for FY 2026 to be between €235 million and €245 million, with adjusted EBITDA expected to range from €15 million to €20 million, reflecting a cautiously optimistic view on future growth.
- Earnings Release Schedule: Codere Online will announce its Q4 2025 results on February 26, 2026, at 8:30 AM ET, expected to provide key financial data and business updates that will aid investors in assessing the company's performance.
- Conference Call Details: On the same day, Codere Online's management will host a conference call to discuss the earnings report and provide a business update, enhancing transparency and engaging with investors to boost market confidence.
- Materials Available Online: The earnings press release and related materials will be accessible on Codere Online's official website, ensuring timely information access for investors, promoting information symmetry and market responsiveness.
- Company Background: Codere Online is a leading online gaming operator launched in 2014, operating in Spain and Latin America, combining online and offline operations to create a robust omnichannel gaming ecosystem.
- Analyst Rating Changes: Top Wall Street analysts have adjusted their ratings on several companies, including upgrades, downgrades, and initiations, reflecting varying market perspectives that could influence investor decisions.
- Market Reaction: While specific company names are not mentioned, analyst rating changes typically attract market attention, prompting investors to adjust their positions based on these ratings, which can lead to stock price volatility.
- Impact of Rating Changes: Adjustments in analyst ratings not only affect short-term stock prices but can also influence a company's long-term investment appeal, especially in times of heightened market uncertainty when investors rely more on professional analysts' opinions.
- Further Information: For a complete view of all analyst rating changes, including specific upgrades, downgrades, and initiations, investors are encouraged to visit the analyst ratings page to make more informed investment decisions.
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Upcoming Investor Conferences: Codere Online Luxembourg, a leading online gaming operator, will participate in the 5th Annual Craig-Hallum Online Gaming Conference on December 2, 2025, and the BTIG Digital GameDay on December 10, 2025, both virtually.
Key Management Attendees: The conferences will feature key executives including CEO Aviv Sher, former CFO Oscar Iglesias, CFO Marcus Arildsson, and Head of Investor Relations Guillermo Lancha.
Company Overview: Codere Online, launched in 2014, offers online sports betting and casino services in Spain and Latin America, supported by the physical presence of its parent company, Codere Group.
Codere Group Background: Codere Group is a multinational entertainment and leisure company with over 40 years of experience in the gaming industry, operating in seven countries across Europe and Latin America.
New CFO Appointment: Codere Online Luxembourg has appointed Marcus Arildsson as CFO, effective immediately, succeeding Oscar Iglesias who will assist in the transition.
Marcus Arildsson's Background: Marcus brings over 25 years of experience in investment banking, equity markets, and corporate finance, previously holding CFO roles at Millenium Hospitality Real Estate.
Board of Directors: In addition to his CFO role, Marcus is expected to join Codere's Board of Directors, enhancing the company's leadership team.
Stock Market Reaction: Following the announcement, Codere's shares rose by 5.22% to 4.84 euros on the Frankfurt Stock Exchange.










