Evolution’s latest update gives a mixed picture for the start of 2026. The supplier reported lower revenue and profit, while some regions continued to grow. The Evolution Q1 results highlight how regional performance is shaping the wider business – see more details:

• Evolution reported net revenue of EUR 513.0m for Q1, down 1.5% year-on-year from €520.9m. EBITDA declined 1.9% to EUR 335.3m, with margin at 65.4%. Profit for the period came in at EUR 251.9m, slightly below last year’s EUR 254.7m.
• Revenue growth at constant currency reached 6.8%, showing the impact of FX movements on reported figures. Live casino generated EUR 434.9m, while RNG contributed €78.2m. The business continues to rely mainly on commission income from operator partners.
• Europe was the weakest region, declining 5.9% quarter-on-quarter due to regulatory changes and lower player activity. CEO Martin Carlesund said: “The clear disappointment this quarter was Europe.” Other regions delivered more stable or positive trends.
• LatAm recorded 29.3% year-on-year growth, supported by expansion activity including a studio acquisition in Argentina. North America grew 10.1% in euro terms, with stronger growth in local currency. Asia showed modest recovery, with 2.2% quarter-on-quarter growth.
• The Evolution Q1 2026 results also reflect ongoing investment, including a new studio in Latvia and further capacity expansion. Cash and cash equivalents reached EUR 1.1bn, while regulated market share rose to 48%. Mobile accounted for 76% of operator GGR on the platform.

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