Interim report for 4th quarter 2025 and year-end 2025 : Q4 2025: Revenue decreased 16.53%, EBIT increased 58.40%, Net Profit increased 1018.76%. Year 2025: Revenue decreased 23.81%, EBIT increased 21.23%, Net Profit increased 148.67%

Angler Gaming plc – Interim Q4 and Year-End 2025 Report

Q4 2025: Revenues decreased 16.53%, EBIT increased 58.40%, Net Profit increased 1018.76%.  Year 2025: Revenues decreased 23.81%, EBIT increased 21.23%, Net Profit increased 148.67%. 

Key Facts for the 4^th Quarter 2025 (1^st October 2025 – 31^st December 2025)

Revenues decreased 16.53%, EBIT increased 58.40% and Net Profit increased 1018.76%

All figures are compared to the same quarter last year if not explicitly stated otherwise

• Revenues decreased by 16.53% to €7,812,908 (€9,360,652).
• EBIT increased by 58.40% to €1,857,985 (€1,172,949).
• EBIT margin of 23.78% (12.53%).
• Net profit increased by 1018.76% to € 1,486,134 (€132,838).
• Earnings per share of €0.0198 (€0.0018).

• PremierGaming Ltd, the Group’s B2C subsidiary licensed in Malta and Sweden focusing on Northern Europe, represented 3.54% of the Group’s revenues in Q4 2025.
  

New business model for B2B effective 1^st of January 2025

As mentioned in previous reports, the agreements with B2B partners have been re-negotiated, resulting in (a) a reduction of the revenues from B2B partners as from 1 January 2025 onward, and (b) the reduction of costs, since from 1 January 2025 onward all payments-related costs arising from operations of B2B partners are at the charge of the B2B partners.

Trading update Q1 2026

The trading update is an indication of how the first quarter 2026 has started, however it is not a revenue forecast for the quarter.

The average daily net gaming revenue in the first quarter 2026 up until and including 16^th of February was 7.5% higher than the average daily net gaming revenue of the full first quarter 2025.

Events during Q4 2025

• The Group’s state-of-the-art proprietary iGaming platform had a successful major software update in Q4 both from a technical and functional perspective. The iGaming platform software is now fully configurable by the Group’s partners.
  
• PremierGaming Ltd (B2C) prudently increased its marketing spending for the Swedish brand in the quarter, after a thorough analysis of customer lifetime value (CLTV) showed a strong return of investment when investing in marketing in Sweden.
  
• Marlin Media Ltd, the Group’s affiliate marketing company, launched its first proprietary AI powered casino search engine in the middle of the quarter, marking a major milestone in its technology-led growth strategy.
  

Events after Q4 2025

• The Board of Directors does not recommend distribution of a dividend for the fiscal year 2025. While the business is developing well and the cashflow is healthy (€1,239,475 at the end of Q4), the focus is to increase sales, to invest in the ongoing innovative projects and build up additional cash flow.
  
• Marlin Media Ltd, the Group’s technology-first affiliate marketing and content generation company, recorded a pivotal performance milestone in Q4 2025 and the opening months of 2026, as Marvn.ai generated its first player registrations and First-Time Depositors (FTDs). This achievement followed a record quarter in user interactions, validating both market demand and the platform’s product-market fit within the iGaming ecosystem. 
  
• During the period, Marvn.ai introduced several strategic product enhancements designed to strengthen its competitive positioning:
  
  • Launch of the Discovery Section: A new feature showcasing the platform’s advanced crawling and indexing capabilities, significantly expanding coverage across iGaming resources and improving content discoverability.
    
  • Expansion into Slots Vertical: The integration of over 8,000 slot titles and associated structured data into the proprietary database, enabling comprehensive slot-level search, comparison, and analysis functionality.
    
    These developments materially expand Marvn.ai’s data infrastructure and reinforce its transition from a proof-of-concept platform to a scalable acquisition channel. The combination of proprietary database growth and increasing user traction positions Marvn.ai as a strategic long-term asset within the Group’s technology-led growth framework.
    
    Marlin Media’s Management remains focused on accelerating monetization, deepening data coverage across additional gaming verticals, and enhancing AI-powered discovery capabilities to drive sustained FTD growth throughout 2026.
    
• The Group have updated the Marlin Media Ltd investment case due to the potential in Marvn.ai and has extended the break-even objective for Marling Media Ltd to the end of 2026. On the whole, the Group continue to have a strong focus on overall profitability and a positive cash flow, operational excellence and investing in business cases with a high potential in generating strong long term profitable growth.

Key Facts for 1^st January 2025 – 31^st December 2025

Revenues decreased 23.81%, EBIT increased 21.23% and Net Profit increased 148.67%

All figures are compared to half-yearly 2024 if not explicitly stated otherwise.

• Revenues decreased by 23.81% to €30,562,484 (€40,111,114).
• EBIT increased by 21.23% to €6,186,100 (€5,102,934).
• EBIT margin of 20.24% (12.72%).
• Net profit increased by 148.67% to €4,531,232 (€1,822,216).
• Earnings per share of €0.0604 (€0.0243).

Thomas Kalita, CEO, comments: ‘We are very satisfied with the profit in the quarter with an EBIT margin of 23.78% and a Net Profit margin of 19.02%. In addition, the revenues were stable, given the new business model for B2B and the lower hold on the Group’s iGaming Platform. Comparing Q4 2025 with Q4 2024, deposit levels on the iGaming platform have increased 19%. Further, the Trading Update is positive, where the average daily net gaming revenue in the first quarter 2026 up until and including 16th of February was 7.5% higher than the average daily net gaming revenue of the full first quarter 2025. Comparing 2025 with 2024, all our work toward operational excellence have paid off, resulting in the increase of  the Net Profit by 148.67% to €4,531,232. 

The Group continued to focus on its core asset, the iGaming platform, wtih a successful major software update in Q4, making the platform fully configurable even by non-technical personnel of the Group’s B2B customers. Our analysis of customer lifetime value for PremierGaming Ltd (B2C) showed a strong return on investment when investing in marketing in Sweden. Sweden continues to be an interesting market and Pronto Casino with its niche offer continues to show long customer lifetime. We are impressed that Marlin Media Ltd, the Group’s affiliate marketing company, launched a proprietary AI-powered casino search engine in the middle of the quarter. Probably the first of its kind in the world. Due to the potential in Marvn.ai, the break-even objective for Marlin Media Ltd has been extended from the end of Q1 2026 to the end of 2026.

Going forward, the Group continues to have a strong focus on overall profitability and a positive cash flow including investing wisely in potential future long term growth engines.’