Bragg Gaming Group Inc. Common Shares (BRAG)

FairStock Score: 44/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look for businesses that earn good returns on capital and sell at a sensible price. Bragg Gaming is a small iGaming content and technology supplier, with 456 employees and products such as Bragg PAM, Bragg HUB and Fuze. Its presence across Malta, the Netherlands, the U.S., Brazil and other markets gives it some customer switching costs, but I see no wide moat; gambling software is competitive and operators can change suppliers. The financials are thin. In the latest reported quarter (fiscal Q2 2026), revenue was $22.9 million and net income was -$2.9 million, a -12.56% margin. Trailing free cash flow is only $1.4 million, a 2.8% FCF yield on the $50.8 million market cap. FairStock's calculations show ROE of -12.20% and ROCE of -2.46%, so capital is not being rewarded. The balance sheet has low debt (D/E 0.11), but an Altman Z-Score of -0.38 and Piotroski F-Score of 3/9 suggest distress and weak fundamentals. Valuation looks statistically cheap: at the 2026-10-13 close of $1.21, P/B is 0.45 and EV/EBITDA is 3.75. The supplied revenue growth figure is only 0.58%, and profit growth is listed at 55.08%, but the latest quarter still showed a loss. FairStock gives a score of 44/100 and no Lynch category because only 0 years of filed results are available versus the needed 3. Graham would demand a margin of safety; here the low price may reflect real risk. Growth could improve if new markets scale, but the current record does not yet prove durable earning power.

In plain English: Bragg Gaming makes online gambling content and technology, such as player accounts, game delivery, and engagement tools, and sells them to casino operators around the world. The business is not very profitable right now: in its latest reported quarter (fiscal Q2 2026), revenue was $22.9 million and it lost $2.9 million. At $1.21 a share, the price looks cheap compared with its accounting value, but weak profits and a high risk of financial trouble mean it is not a clear bargain.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer