Prague Games Group (BRAG), Revenue of €161.06 Million "All-Time High"... Widening Net Loss Becomes a Challenge

TechubNews · 2026-03-19T12:30:45+00:00

Prague Gaming Group (BRAG) achieved record revenue in 2025, reaching 160.6 million euros, driven by rapid growth in the United States and Brazilian markets. However, net losses expanded to 8.1 million euros, revealing the urgency of improving profitability structure. The company has undertaken measures including workforce reductions and debt repayment, planning to restore profitability while pursuing expansion.

TechubNews

2026-03-19 12:30:45

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Prague Gaming Group (BRAG) achieved its best-ever performance in 2025, solidifying its position in the global online gaming market. However, net losses widened, highlighting the need to improve profitability.

BRAG announced that its annual revenue for 2025 reached €161.06 million. This continued the year-over-year growth trend and set a new record for “all-time high” performance. In the fourth quarter alone, revenue also hit a new high of €27.7 million.

Profitability metrics improved as well. Adjusted EBITDA for the full year was €16.6 million, with an EBITDA margin of 15.6%. This is seen as the result of growth in core market recurring revenue and cost efficiency strategies.

The US market showed particularly strong growth. Recurring revenue in the US increased by 55.0% year-over-year, while the Brazilian market grew by 42.1%, becoming an emerging core market. Industry analysts believe that its expansion strategies in North and South America are becoming the “key drivers” of medium- to long-term growth.

Measures to improve financial structure are ongoing. The company repaid $7 million in debt and established additional financing channels to ensure liquidity stability. At the same time, it implemented approximately 12% staff reductions, expected to save about €4.5 million annually.

The board composition also changed. BRAG appointed Thomas Winter as a new director to strengthen strategic decision-making. Industry experts expect his addition will positively impact expansion in North America and operational efficiency.

However, net losses widened to €8.1 million, indicating ongoing challenges in profitability. This is attributed to factors such as increased investments and restructuring costs. Experts note that “balancing growth and profitability will be a ‘key’ to future enterprise value.”

BRAG plans to continue market expansion while improving cost structures and focusing on restoring profitability. Market analysts believe that if revenue growth in the US and Brazil continues, the likelihood of a performance rebound will increase.

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