Inspired Entertainment (INSE)
Market Price (6/19/2026): $7.985 | Market Cap: $233.9 MilSector: Consumer Discretionary | Industry: Casinos & Gaming
Inspired Entertainment (INSE)
Market Price (6/19/2026): $7.985Market Cap: $233.9 MilSector: Consumer DiscretionaryIndustry: Casinos & Gaming
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 18% Attractive yieldFCF Yield is 5.0% Low stock price volatilityVol 12M is 47% Megatrend and thematic driversMegatrends include Digital Content & Streaming, and Markets & Betting. Themes include Gaming Content & Platforms, and Prediction Markets. | Weak multi-year price returns2Y Excs Rtn is -51%, 3Y Excs Rtn is -117% Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 10.01 | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 133% Weak revenue growthRev Chg QQuarterly Revenue Change % is -5.3% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -12% Key risksINSE key risks include [1] recurring financial reporting delays and potential NASDAQ delisting, Show more. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 18% |
| Attractive yieldFCF Yield is 5.0% |
| Low stock price volatilityVol 12M is 47% |
| Megatrend and thematic driversMegatrends include Digital Content & Streaming, and Markets & Betting. Themes include Gaming Content & Platforms, and Prediction Markets. |
| Weak multi-year price returns2Y Excs Rtn is -51%, 3Y Excs Rtn is -117% |
| Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 10.01 |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 133% |
| Weak revenue growthRev Chg QQuarterly Revenue Change % is -5.3% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -12% |
| Key risksINSE key risks include [1] recurring financial reporting delays and potential NASDAQ delisting, Show more. |
Qualitative Assessment
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Inspired Entertainment (INSE) stock has remained largely at the same level since 2/28/2026 because of the following key factors:
1. Mixed Fiscal Q4 2025 and Fiscal Q1 2026 Financial Results Presented a Balanced Outlook.
Inspired Entertainment reported mixed financial results during the period. For fiscal Q4 2025 (ended December 31, 2025), reported on March 10, 2026, the company missed analyst estimates with an EPS of -$0.18, against an estimated $0.27, and slightly missed revenue targets of $77.2 million. However, it achieved a 60% year-over-year increase in Adjusted EBITDA and a record 42% Adjusted EBITDA margin, driven by interactive revenue growth. The stock reacted with an 8.15% premarket decline on this news. Conversely, for fiscal Q1 2026 (ended March 31, 2026), reported on May 7, 2026, Inspired Entertainment beat EPS estimates by reporting -$0.02 against an expected -$0.15, but revenue of $57.2 million missed consensus estimates. Despite the revenue miss, Adjusted EBITDA for fiscal Q1 2026 was $41 million, significantly beating estimates of $22.47 million, and Adjusted EBITDA margin expanded by 1,100 basis points. This earnings report led to an 11.2% jump in the stock price. The offsetting nature of these results—missing revenue but beating on profitability metrics—contributed to the stock largely maintaining its level rather than experiencing a sustained directional shift.
2. Continued Strategic Pivot Towards High-Margin Digital Business and Margin Expansion.
The company's ongoing strategy to transition to a digital-led, asset-light business model continued to drive strong margin expansion, providing underlying support for the stock. Digital operations accounted for 52% of total Adjusted EBITDA in fiscal Q4 2025 and grew to 60% of total EBITDA in fiscal Q1 2026. This shift led to a record 42% Adjusted EBITDA margin in fiscal Q4 2025 and an 1,100 basis point expansion in EBITDA margin in fiscal Q1 2026. Management projects Adjusted EBITDA margins to further expand to 43% in fiscal 2026 and above 45% in fiscal 2027. The consistent execution on this strategic priority, which enhances profitability despite varying revenue performance, reassured investors and helped stabilize the stock.
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Inspired Entertainment (INSE) stock has remained largely at the same level since 2/28/2026 because of the following key factors:
1. Mixed Fiscal Q4 2025 and Fiscal Q1 2026 Financial Results Presented a Balanced Outlook.
Inspired Entertainment reported mixed financial results during the period. For fiscal Q4 2025 (ended December 31, 2025), reported on March 10, 2026, the company missed analyst estimates with an EPS of -$0.18, against an estimated $0.27, and slightly missed revenue targets of $77.2 million. However, it achieved a 60% year-over-year increase in Adjusted EBITDA and a record 42% Adjusted EBITDA margin, driven by interactive revenue growth. The stock reacted with an 8.15% premarket decline on this news. Conversely, for fiscal Q1 2026 (ended March 31, 2026), reported on May 7, 2026, Inspired Entertainment beat EPS estimates by reporting -$0.02 against an expected -$0.15, but revenue of $57.2 million missed consensus estimates. Despite the revenue miss, Adjusted EBITDA for fiscal Q1 2026 was $41 million, significantly beating estimates of $22.47 million, and Adjusted EBITDA margin expanded by 1,100 basis points. This earnings report led to an 11.2% jump in the stock price. The offsetting nature of these results—missing revenue but beating on profitability metrics—contributed to the stock largely maintaining its level rather than experiencing a sustained directional shift.
2. Continued Strategic Pivot Towards High-Margin Digital Business and Margin Expansion.
The company's ongoing strategy to transition to a digital-led, asset-light business model continued to drive strong margin expansion, providing underlying support for the stock. Digital operations accounted for 52% of total Adjusted EBITDA in fiscal Q4 2025 and grew to 60% of total EBITDA in fiscal Q1 2026. This shift led to a record 42% Adjusted EBITDA margin in fiscal Q4 2025 and an 1,100 basis point expansion in EBITDA margin in fiscal Q1 2026. Management projects Adjusted EBITDA margins to further expand to 43% in fiscal 2026 and above 45% in fiscal 2027. The consistent execution on this strategic priority, which enhances profitability despite varying revenue performance, reassured investors and helped stabilize the stock.
3. Proactive Financial Management Through Debt Reduction and Share Repurchases.
Inspired Entertainment demonstrated prudent financial management by reducing its debt and repurchasing shares. The company repaid $13 million of debt during fiscal Q1 2026, improving its net leverage ratio to 3.3x at the end of fiscal 2025. Additionally, approximately 400,000 shares were repurchased for about $2.6 million in fiscal Q1 2026 under its share buyback program. These actions reflect a commitment to strengthening the balance sheet and returning value to shareholders, likely cushioning the stock against potential downturns and reinforcing investor confidence in the company's financial health.
4. Expansion into New Markets and Strengthened Key Partnerships.
During the specified period, Inspired Entertainment announced several initiatives that expanded its market reach and solidified existing relationships. In April 2026, the company secured iGaming supplier registration in Alberta, expanding its presence in North America, and also launched operations in South Africa, broadening its global iGaming footprint. Furthermore, in May 2026, Inspired Entertainment extended its long-term agreement with Paddy Power for gaming terminals and content, and in April 2026, it expanded its Virtual Sports offerings with BetMGM. These strategic expansions and partnership renewals signal future growth potential and a resilient business model, balancing out negative sentiment from revenue misses and contributing to the stock's stable performance.
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Stock Movement Drivers
Fundamental Drivers
The -2.0% change in INSE stock from 2/28/2026 to 6/18/2026 was primarily driven by a -2.9% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 2282026 | 6182026 | Change |
|---|---|---|---|
| Stock Price ($) | 8.16 | 8.00 | -2.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 310 | 301 | -2.9% |
| P/S Multiple | 0.8 | 0.8 | 1.6% |
| Shares Outstanding (Mil) | 29 | 29 | -0.7% |
| Cumulative Contribution | -2.0% |
Market Drivers
2/28/2026 to 6/18/2026| Return | Correlation | |
|---|---|---|
| INSE | -2.0% | |
| Market (SPY) | 9.2% | 39.4% |
| Sector (XLY) | 0.5% | 41.8% |
Fundamental Drivers
The -2.7% change in INSE stock from 11/30/2025 to 6/18/2026 was primarily driven by a -2.9% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 11302025 | 6182026 | Change |
|---|---|---|---|
| Stock Price ($) | 8.22 | 8.00 | -2.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 310 | 301 | -2.9% |
| P/S Multiple | 0.8 | 0.8 | 0.9% |
| Shares Outstanding (Mil) | 29 | 29 | -0.7% |
| Cumulative Contribution | -2.7% |
Market Drivers
11/30/2025 to 6/18/2026| Return | Correlation | |
|---|---|---|
| INSE | -2.7% | |
| Market (SPY) | 9.9% | 41.1% |
| Sector (XLY) | -0.5% | 42.0% |
Fundamental Drivers
The 2.3% change in INSE stock from 5/31/2025 to 6/18/2026 was primarily driven by a 1.9% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 5312025 | 6182026 | Change |
|---|---|---|---|
| Stock Price ($) | 7.82 | 8.00 | 2.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 295 | 301 | 1.9% |
| P/S Multiple | 0.8 | 0.8 | 1.5% |
| Shares Outstanding (Mil) | 29 | 29 | -1.1% |
| Cumulative Contribution | 2.3% |
Market Drivers
5/31/2025 to 6/18/2026| Return | Correlation | |
|---|---|---|
| INSE | 2.3% | |
| Market (SPY) | 28.1% | 42.2% |
| Sector (XLY) | 10.5% | 41.8% |
Fundamental Drivers
The -41.7% change in INSE stock from 5/31/2023 to 6/18/2026 was primarily driven by a -41.4% change in the company's P/S Multiple.| (LTM values as of) | 5312023 | 6182026 | Change |
|---|---|---|---|
| Stock Price ($) | 13.73 | 8.00 | -41.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 289 | 301 | 4.1% |
| P/S Multiple | 1.3 | 0.8 | -41.4% |
| Shares Outstanding (Mil) | 28 | 29 | -4.5% |
| Cumulative Contribution | -41.7% |
Market Drivers
5/31/2023 to 6/18/2026| Return | Correlation | |
|---|---|---|
| INSE | -41.7% | |
| Market (SPY) | 85.7% | 49.6% |
| Sector (XLY) | 58.4% | 47.9% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| INSE Return | 97% | -2% | -22% | -8% | 3% | -15% | 22% |
| Peers Return | -7% | -39% | 55% | -5% | -15% | 4% | -26% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 8% | 98% |
Monthly Win Rates [3] | |||||||
| INSE Win Rate | 58% | 58% | 58% | 58% | 75% | 33% | |
| Peers Win Rate | 45% | 33% | 55% | 47% | 62% | 63% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| INSE Max Drawdown | -35% | -50% | -55% | -28% | -42% | -38% | |
| Peers Max Drawdown | -46% | -54% | -33% | -33% | -43% | -33% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: DKNG, FLUT, PENN, CZR, MGM.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/18/2026 (YTD)
How Low Can It Go
| Event | INSE | S&P 500 |
|---|---|---|
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -14.6% | -7.8% |
| % Gain to Breakeven | 17.1% | 8.5% |
| Time to Breakeven | 18 days | 18 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -41.4% | -24.5% |
| % Gain to Breakeven | 70.7% | 32.4% |
| Time to Breakeven | 29 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -65.4% | -33.7% |
| % Gain to Breakeven | 188.9% | 50.9% |
| Time to Breakeven | 210 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -32.4% | -19.2% |
| % Gain to Breakeven | 48.0% | 23.8% |
| Time to Breakeven | 29 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -13.6% | -3.7% |
| % Gain to Breakeven | 15.8% | 3.9% |
| Time to Breakeven | 22 days | 6 days |
In The Past
Inspired Entertainment's stock fell -14.6% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 17.1% gain to breakeven.
Preserve Wealth
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Asset Allocation
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| Event | INSE | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -41.4% | -24.5% |
| % Gain to Breakeven | 70.7% | 32.4% |
| Time to Breakeven | 29 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -65.4% | -33.7% |
| % Gain to Breakeven | 188.9% | 50.9% |
| Time to Breakeven | 210 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -32.4% | -19.2% |
| % Gain to Breakeven | 48.0% | 23.8% |
| Time to Breakeven | 29 days | 105 days |
In The Past
Inspired Entertainment's stock fell -14.6% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 17.1% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Inspired Entertainment (INSE)
Inspired Entertainment (INSE) is a global business-to-business (B2B) gaming technology company that provides content, platform, and various products and services to regulated lottery, betting, and gaming operators around the world. Essentially, INSE powers a wide range of gaming experiences for other businesses, rather than directly serving individual players. The company's operations span several key segments, each targeting specific aspects of the gaming and entertainment industry.
The company's main offerings include a diverse portfolio of gaming solutions. Through its Gaming segment, INSE supplies gaming terminals, software, and traditional casino games like roulette and blackjack to venues such as betting offices, casinos, and adult gaming centers. Its Virtual Sports segment develops and distributes ultra-high-definition simulated sports games, including V-Play Soccer, V-Play Football, and Virtual Grand National, alongside various other sports. The Interactive segment focuses on providing premium random number generated (RNG) casino content for online platforms, ranging from feature-rich bonus games and free spins to virtual table games.
Inspired Entertainment also serves the broader entertainment sector through its Leisure segment, supplying gaming terminals and amusement machines to pubs, bingo halls, family entertainment centers, and bowling alleys. Its primary customers are the operators of these diverse venues and online platforms, who rely on INSE for a comprehensive suite of gaming and amusement technology, content, and services to engage their end-users across both physical and digital environments.
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Inspired Entertainment is like the Shopify for the regulated gambling industry, providing the underlying technology, games, and physical terminals that power casinos, betting offices, and online operators to run their businesses.
Inspired Entertainment is like the NCR for the global gambling industry, providing the specialized gaming terminals, software, and content (like virtual sports and casino games) that power betting offices, casinos, and entertainment venues worldwide.
Inspired Entertainment is like the Arm Holdings (ARM) of the global gambling world, designing and supplying the core gaming software, virtual sports content, and specialized terminals that other operators license and use to power their physical and online betting and casino offerings.
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- Gaming Terminals: Physical hardware and associated software supplied to betting offices, casinos, gaming halls, and adult gaming centers.
- Gaming Software and Content: A diverse portfolio of digital games, including popular slots like Centurion and Super Hot Fruits, traditional casino games (roulette, blackjack), and premium random number generated (RNG) casino content.
- Virtual Sports Games: Ultra-high-definition simulations of various sports, such as soccer, football, basketball, and horse racing, designed for betting and gaming operators.
- Amusement Machines: Gaming terminals and amusement devices provided for pubs, bingo halls, family entertainment centers, and other leisure venues.
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Inspired Entertainment, Inc. (INSE) is a business-to-business (B2B) gaming technology company, meaning it primarily sells its products and services to other companies rather than directly to individuals. The provided background information describes the categories of its major customers rather than specific named companies.
The major customer categories for Inspired Entertainment include:
- Regulated lottery operators
- Betting operators
- Gaming operators
- Betting offices
- Casinos
- Gaming halls
- High street adult gaming centers
- Pubs
- Bingo halls
- Family entertainment centers
- Bowling centers
- Other entertainment venues
As the background description does not list specific customer companies by name, including their public symbols is not possible.
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Brooks Pierce, President and Chief Executive Officer
Mr. Pierce was appointed President and Chief Executive Officer of Inspired Entertainment in May 2018. He joined Inspired in April 2018. Prior to his current role, he served as the CEO of BHP Consulting Group, LLC. His extensive experience in the gaming industry includes serving as Managing Director of the Americas at Aristocrat Technologies from 2015 to 2017, Chief Revenue Officer for the gaming division of Scientific Games from 2012 to 2015, and President and Chief Business Development Officer for Sportech PLC from 2010 to 2012. Mr. Pierce also worked closely with A. Lorne Weil for 24 years building Scientific Games.
James Richardson, Chief Financial Officer
Mr. Richardson was appointed Chief Financial Officer of Inspired Entertainment, effective January 1, 2025. He brings nearly three decades of financial leadership experience to the role. Before joining Inspired, Mr. Richardson served as Finance Director at Manchester Airports Group (MAG) for five years, overseeing financial operations for major UK airports. He also previously held the position of CFO of Online at William Hill in Gibraltar for just under two years, and began his career at PwC.
A. Lorne Weil, Executive Chairman
Mr. Weil has served as Executive Chairman since December 2016, following the business combination that formed the current Inspired Entertainment, Inc. He was the co-sponsor and founder of Inspired's predecessor, Hydra Industries Acquisition Corp, a special purpose acquisition company (SPAC), and served as its Chairman and Chief Executive Officer from its formation in 2014. He has been a principal of Hydra Management, an investment vehicle he formed, since September 2014. From October 1991 to November 2013, Mr. Weil was the Chairman of the Board of Scientific Games Corporation and its predecessor, Autotote Corporation.
Simona Camilleri, General Counsel
Dr. Camilleri joined Inspired Entertainment as General Counsel in 2024. She has a comprehensive background in legal and compliance, having held various leadership positions at companies such as Sportingtech, Casumo, Payhound, Booming Games, and the Betclic Everest Group. Dr. Camilleri has also contributed to the industry through her service on the Board of Gaming Malta and as an Executive Committee Member (Chairperson) for the Remote Gaming Business Section at the Malta Chamber of Commerce. Her prior experience includes roles as UK Counsel for Scientific Games, Global Draw, and Games Media.
Lee Gregory, Chief Commercial Officer – Gaming
Mr. Gregory, Chief Commercial Officer – Gaming, has been with Inspired Entertainment since 1984. Throughout his extensive career at the company, he has held key leadership roles, including Senior Vice President for the UK market from 2012 to 2015 and Managing Director for Bingo and Casino from September 2008 to September 2012. He possesses over thirty years of experience in the European retail gaming sector.
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Inspired Entertainment (INSE) operates in several significant global addressable markets for its diverse gaming technology products and services.
Addressable Markets for Inspired Entertainment's Main Products and Services:
- Gaming Terminals and Content (Casino & Interactive): The global online casino market size was estimated at USD 19.11 billion in 2024 and is projected to reach USD 38.00 billion by 2030. Similarly, another report valued the global online casino market at USD 17 billion in 2023, with an expected growth to USD 39 billion by 2032. For land-based casino gaming, which includes gaming terminals and traditional casino games, the global casino market size was valued at USD 308.52 billion in 2024 and is projected to grow to USD 542.41 billion by 2033. Land-based casino gaming constituted the largest segment in the global casino market in 2024, holding a 70.1% market share.
- Virtual Sports: The global Virtual Sports market size was over USD 21.33 billion in 2025 and is projected to reach USD 101.66 billion by 2035. Another estimate places the global Virtual Sports Market size at USD 22.42 billion in 2025, with a prediction to increase to approximately USD 105.50 billion by 2035. The virtual sports betting market specifically was valued at USD 12.67 billion in 2024 and is poised to grow to USD 53.27 billion by 2033.
- Leisure (Amusement Machines): The global amusement machine market size is valued at USD 16.72 billion in 2025 and is estimated to reach USD 43.13 billion by 2034. Another consistent figure shows the global amusement machine market size at USD 18.37 billion in 2025, predicted to increase to approximately USD 47.13 billion by 2034.
- Lottery: The global lottery market size was estimated at USD 374.01 billion in 2025 and is projected to reach USD 596.48 billion by 2033. Complementary data indicates the global lottery market is projected at USD 376.68 billion in 2025, expected to rise to nearly USD 550.21 billion by 2034.
- Sports Betting: The global sports betting market size was estimated at USD 100.9 billion in 2024 and is projected to reach USD 187.39 billion by 2030. Another source indicates the global sports betting market was valued at USD 191.66 billion in 2025 and is expected to reach USD 385.8 billion by 2033.
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Expected Drivers of Future Revenue Growth for Inspired Entertainment (INSE)
Inspired Entertainment (INSE) is expected to drive future revenue growth over the next 2-3 years through several key initiatives:
- Continued Growth in the Interactive Segment: The Interactive business is anticipated to maintain its strong performance across all geographies, including the UK and North America. This segment's growth is fueled by scaling content and distribution, expanding its pipeline of proprietary titles and game mechanics, and increasing studio capacity. The Interactive segment has demonstrated significant year-over-year revenue and Adjusted EBITDA growth, contributing increasingly to the company's overall profitability.
- Revitalization and Expansion of the Virtual Sports Segment: Following a period of moderated growth, the Virtual Sports segment is expected to return to growth due to new product launches, such as the NFL game, and the acquisition of additional customers in new geographies. Management is confident in this segment's ability to contribute to year-over-year growth.
- Expansion into New iGaming Geographies: Inspired Entertainment plans to expand its iGaming presence into new markets, specifically identifying opportunities in South Africa, the Philippines, and Portugal. Further iGaming legalization in the United States, such as in Maine, is also considered a potential growth avenue.
- Exploitation of the Chicago Video Gaming Terminal (VGT) Opportunity: The company has highlighted the Chicago VGT market as a specific opportunity for expansion and revenue generation.
- Increased New Product Launches and Proprietary Content: A significant driver will be the accelerated development and launch of new games. Inspired Entertainment aims to deliver 37 new games in 2026 and 48 in 2027, representing a substantial increase in its content creation engine over a three-year period. The success of proprietary game mechanics and new titles is critical to scaling revenue and market acceptance.
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Share Repurchases
- Inspired Entertainment's board reauthorized a $25 million share buyback plan, with execution expected to be opportunistic.
- The company made quarterly share repurchases including $1.52 million in September 2023, $55.07 thousand in June 2023, and $351.67 thousand in December 2022.
- Further repurchases include $4.98 million in September 2022 and $5.13 million in June 2022.
Share Issuance
- The number of outstanding shares increased from 22.74 million in 2021 to 29.09 million at the end of 2025.
- Performance restricted stock units (RSUs) were awarded to President and CEO H. Brooks Pierce in February 2025 and May 2023, convertible into common shares upon achieving performance goals.
- Chief Financial Officer James Andrew Richardson also received performance restricted stock units in February 2025.
Capital Expenditures
- Cash capital expenditures are projected to decrease from $44 million in 2025 to an annual range of $30-35 million in 2026 and 2027.
- Reported capital expenditures for 2025 included $58.6 million for the full year, and $11.1 million in Q4 2025 specifically for funding long-term assets and infrastructure.
- The company's strategic shift toward a digital-led, asset-light business model aims for declining capital intensity.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Inspired Entertainment Earnings Notes | 12/16/2025 | |
| Inspired Entertainment Stock Rockets 28% With 8-Day Winning Streak | 12/03/2025 | |
| 8-Day Rally Sends Inspired Entertainment Stock Up 28% | 12/03/2025 | |
| Inspired Entertainment Stock 8-Day Winning Spree: Stock Climbs 32% | 12/03/2025 |
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 27.80 |
| Mkt Cap | 9.0 |
| Rev LTM | 9,315 |
| Op Inc LTM | 368 |
| FCF LTM | 482 |
| FCF 3Y Avg | 282 |
| CFO LTM | 1,011 |
| CFO 3Y Avg | 900 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 4.9% |
| Rev Chg 3Y Avg | 2.9% |
| Rev Chg Q | 5.3% |
| QoQ Delta Rev Chg LTM | 1.3% |
| Op Inc Chg LTM | 11.0% |
| Op Inc Chg 3Y Avg | 5.5% |
| Op Mgn LTM | 5.8% |
| Op Mgn 3Y Avg | 6.1% |
| QoQ Delta Op Mgn LTM | 0.4% |
| CFO/Rev LTM | 11.4% |
| CFO/Rev 3Y Avg | 10.9% |
| FCF/Rev LTM | 4.1% |
| FCF/Rev 3Y Avg | 4.2% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Gaming | 112 | 111 | 142 | 111 | 81 |
| Leisure | 97 | 102 | 96 | 96 | 69 |
| Interactive | 59 | 39 | 28 | 21 | 23 |
| Virtual Sports | 37 | 45 | 56 | 54 | 36 |
| Corporate Functions | 0 | 0 | 0 | 0 | |
| Total | 304 | 297 | 323 | 282 | 209 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Interactive | 35 | 20 | 11 | 9 | 9 |
| Gaming | 28 | 24 | 23 | 22 | 2 |
| Virtual Sports | 19 | 30 | 44 | 41 | 23 |
| Leisure | 1 | 10 | 7 | 10 | -1 |
| Corporate Functions | -52 | -53 | -46 | -36 | -33 |
| Total | 30 | 31 | 39 | 46 | -1 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Gaming | 185 | 133 | 104 | 100 | 94 |
| Leisure | 98 | 72 | 68 | 86 | 87 |
| Virtual Sports | 75 | 60 | 57 | 62 | 64 |
| Corporate Functions | 55 | 60 | 46 | 72 | 70 |
| Interactive | 25 | 18 | 12 | 12 | 8 |
| Total | 438 | 343 | 287 | 332 | 324 |
Price Behavior
| Market Price | $8.00 | |
| Market Cap ($ Bil) | 0.2 | |
| First Trading Date | 05/09/2011 | |
| Distance from 52W High | -18.5% | |
| 50 Days | 200 Days | |
| DMA Price | $7.42 | $8.17 |
| DMA Trend | down | up |
| Distance from DMA | 7.8% | -2.1% |
| 3M | 1YR | |
| Volatility | 55.7% | 46.8% |
| Downside Capture | 112.15 | 191.53 |
| Upside Capture | 131.74 | 145.03 |
| Correlation (SPY) | 34.2% | 41.7% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.07 | 1.40 | 1.67 | 1.60 | 1.66 | 1.62 |
| Up Beta | 0.90 | 2.14 | 1.66 | 1.59 | 1.35 | 1.40 |
| Down Beta | 3.18 | 1.05 | 0.58 | 1.56 | 1.93 | 1.75 |
| Up Capture | 19% | 72% | 157% | 145% | 165% | 278% |
| Bmk +ve Days | 13 | 28 | 36 | 67 | 141 | 432 |
| Stock +ve Days | 9 | 17 | 28 | 59 | 123 | 369 |
| Down Capture | -291% | 149% | 234% | 172% | 156% | 112% |
| Bmk -ve Days | 7 | 13 | 27 | 57 | 109 | 318 |
| Stock -ve Days | 9 | 22 | 33 | 62 | 120 | 361 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with INSE | |
|---|---|---|---|---|
| INSE | 8.5% | 46.8% | 0.32 | - |
| Sector ETF (XLY) | 12.3% | 18.4% | 0.49 | 41.6% |
| Equity (SPY) | 26.5% | 12.4% | 1.61 | 41.6% |
| Gold (GLD) | 24.2% | 27.5% | 0.77 | 4.9% |
| Commodities (DBC) | 19.8% | 18.8% | 0.83 | -22.3% |
| Real Estate (VNQ) | 11.0% | 13.7% | 0.52 | 29.9% |
| Bitcoin (BTCUSD) | -38.3% | 42.4% | -1.02 | 20.8% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with INSE | |
|---|---|---|---|---|
| INSE | -7.3% | 49.3% | 0.02 | - |
| Sector ETF (XLY) | 7.1% | 23.8% | 0.26 | 44.8% |
| Equity (SPY) | 13.5% | 17.1% | 0.62 | 46.5% |
| Gold (GLD) | 17.1% | 18.3% | 0.76 | 6.8% |
| Commodities (DBC) | 7.5% | 19.4% | 0.29 | 11.5% |
| Real Estate (VNQ) | 1.9% | 18.9% | 0.00 | 36.7% |
| Bitcoin (BTCUSD) | 11.6% | 54.2% | 0.41 | 19.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with INSE | |
|---|---|---|---|---|
| INSE | 0.0% | 63.5% | 0.27 | - |
| Sector ETF (XLY) | 12.6% | 22.1% | 0.52 | 32.1% |
| Equity (SPY) | 15.3% | 18.0% | 0.73 | 33.4% |
| Gold (GLD) | 12.3% | 16.1% | 0.63 | 2.4% |
| Commodities (DBC) | 5.9% | 18.0% | 0.26 | 10.6% |
| Real Estate (VNQ) | 5.3% | 20.7% | 0.22 | 30.4% |
| Bitcoin (BTCUSD) | 60.4% | 66.8% | 1.00 | 8.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 6/10/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/7/2026 | 12.5% | 2.1% | 3.7% |
| 3/10/2026 | -5.3% | -18.1% | -15.2% |
| 11/5/2025 | 12.8% | 11.9% | 15.7% |
| 8/6/2025 | -6.1% | -1.8% | 5.2% |
| 5/8/2025 | 4.4% | 11.9% | 8.4% |
| 3/17/2025 | -6.0% | -0.2% | -19.6% |
| 11/8/2024 | 1.1% | -3.4% | -11.3% |
| 8/8/2024 | 7.8% | 3.3% | 7.0% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 15 | 13 | 14 |
| # Negative | 8 | 10 | 9 |
| Median Positive | 8.6% | 11.9% | 12.0% |
| Median Negative | -6.1% | -6.7% | -15.2% |
| Max Positive | 24.3% | 49.4% | 45.2% |
| Max Negative | -9.1% | -18.1% | -24.5% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/7/2026 | 12.5% | 2.1% | 3.7% |
| 3/10/2026 | -5.3% | -18.1% | -15.2% |
| 11/5/2025 | 12.8% | 11.9% | 15.7% |
| 8/6/2025 | -6.1% | -1.8% | 5.2% |
| 5/8/2025 | 4.4% | 11.9% | 8.4% |
| 3/17/2025 | -6.0% | -0.2% | -19.6% |
| 11/8/2024 | 1.1% | -3.4% | -11.3% |
| 8/8/2024 | 7.8% | 3.3% | 7.0% |
| 5/10/2024 | -7.8% | -6.9% | 0.5% |
| 2/27/2024 | -9.1% | -14.3% | -7.2% |
| 8/9/2023 | -6.1% | -4.1% | -6.1% |
| 5/10/2023 | 8.6% | 11.3% | 25.8% |
| 3/13/2023 | -7.5% | -17.8% | -20.3% |
| 11/9/2022 | 8.6% | 24.9% | 28.4% |
| 8/9/2022 | 14.3% | 10.0% | 0.5% |
| 5/10/2022 | 21.3% | 22.0% | 33.0% |
| 3/11/2022 | 11.6% | 18.5% | -16.9% |
| 11/12/2021 | 0.1% | -6.6% | -24.5% |
| 8/12/2021 | 2.1% | 1.4% | 3.4% |
| 5/10/2021 | 4.4% | -7.0% | 45.2% |
| 3/11/2021 | 24.3% | 49.4% | 19.8% |
| 11/12/2020 | 16.4% | 12.0% | 32.0% |
| 8/13/2020 | -0.3% | 2.8% | -10.9% |
| SUMMARY STATS | |||
| # Positive | 15 | 13 | 14 |
| # Negative | 8 | 10 | 9 |
| Median Positive | 8.6% | 11.9% | 12.0% |
| Median Negative | -6.1% | -6.7% | -15.2% |
| Max Positive | 24.3% | 49.4% | 45.2% |
| Max Negative | -9.1% | -18.1% | -24.5% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 03/10/2026 | 10-K |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 03/26/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/10/2024 | 10-Q |
| 12/31/2023 | 04/15/2024 | 10-K |
| 09/30/2023 | 02/27/2024 | 10-Q |
| 06/30/2023 | 08/11/2023 | 10-Q |
| 03/31/2023 | 05/10/2023 | 10-Q |
| 12/31/2022 | 03/16/2023 | 10-K |
| 09/30/2022 | 11/09/2022 | 10-Q |
| 06/30/2022 | 08/09/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 03/10/2026 | 10-K |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 03/26/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/10/2024 | 10-Q |
| 12/31/2023 | 04/15/2024 | 10-K |
| 09/30/2023 | 02/27/2024 | 10-Q |
| 06/30/2023 | 08/11/2023 | 10-Q |
| 03/31/2023 | 05/10/2023 | 10-Q |
| 12/31/2022 | 03/16/2023 | 10-K |
| 09/30/2022 | 11/09/2022 | 10-Q |
| 06/30/2022 | 08/09/2022 | 10-Q |
| 03/31/2022 | 05/10/2022 | 10-Q |
| 12/31/2021 | 03/31/2022 | 10-K |
| 09/30/2021 | 11/12/2021 | 10-Q |
| 06/30/2021 | 08/12/2021 | 10-Q |
| 03/31/2021 | 05/14/2021 | 10-Q |
| 12/31/2020 | 03/29/2021 | 10-K |
| 09/30/2020 | 11/12/2020 | 10-Q |
| 06/30/2020 | 08/13/2020 | 10-Q |
| 03/31/2020 | 05/15/2020 | 10-Q |
| 12/31/2019 | 03/30/2020 | 10-K |
| 09/30/2019 | 11/12/2019 | 10-Q |
| 06/30/2019 | 08/12/2019 | 10-Q |
Recent Forward Guidance
Updated 6/1/2026Latest: Q1 2026 Earnings Reported 5/7/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Adjusted EBITDA | 112.00 Mil | 115.00 Mil | 118.00 Mil | 0 | Affirmed | Guidance: 115.00 Mil for 2026 | |
| 2026 Adjusted EBITDA Margin | 45.0% | ||||||
| 2026 Free Cash Flow conversion | 0.2 | ||||||
Prior: Q4 2025 Earnings Reported 3/10/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2026 Adjusted EBITDA | 0.2 | Higher New | |||||
| 2026 Adjusted EBITDA | 112.00 Mil | 115.00 Mil | 118.00 Mil | 4.5% | Raised | Guidance: 110.00 Mil for 2025 | |
| 2026 Capital Expenditures | 30.00 Mil | 32.50 Mil | 35.00 Mil | 0 | Affirmed | Guidance: 32.50 Mil for 2026 | |
Insider Activity
Updated 5/18/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Pierce, Brooks H | President and CEO | Direct | Buy | 3272026 | 6.76 | 5,000 | 33,800 | 388,071 | Form |
| 2 | Weil, A Lorne | Executive Chairman | Trusts | Buy | 3272026 | 6.80 | 20,000 | 136,000 | 4,234,843 | Form |
| 3 | Chambrello, Michael R | Direct | Buy | 3272026 | 6.92 | 10,000 | 69,241 | 447,073 | Form | |
| 4 | Pierce, Brooks H | President and CEO | Direct | Buy | 3272026 | 6.88 | 13,332 | 91,724 | 360,560 | Form |
| 5 | Weil, A Lorne | Executive Chairman | Trusts | Buy | 3272026 | 6.85 | 21,659 | 148,364 | 4,128,981 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Pierce, Brooks H | President and CEO | Direct | Buy | 3272026 | 6.76 | 5,000 | 33,800 | 388,071 | Form |
| 2 | Weil, A Lorne | Executive Chairman | Trusts | Buy | 3272026 | 6.80 | 20,000 | 136,000 | 4,234,843 | Form |
| 3 | Chambrello, Michael R | Direct | Buy | 3272026 | 6.92 | 10,000 | 69,241 | 447,073 | Form | |
| 4 | Pierce, Brooks H | President and CEO | Direct | Buy | 3272026 | 6.88 | 13,332 | 91,724 | 360,560 | Form |
| 5 | Weil, A Lorne | Executive Chairman | Trusts | Buy | 3272026 | 6.85 | 21,659 | 148,364 | 4,128,981 | Form |
| 6 | Pierce, Brooks H | President and CEO | Direct | Buy | 3272026 | 6.66 | 1,668 | 11,109 | 260,240 | Form |
| 7 | Weil, A Lorne | Executive Chairman | Trusts | Buy | 3272026 | 6.66 | 8,341 | 55,551 | 3,870,206 | Form |
| 8 | Weil, A Lorne | Executive Chairman | Trusts | Buy | 12012025 | 8.11 | 50,000 | 405,500 | 4,645,173 | Form |
| 9 | Pierce, Brooks H | President and CEO | Direct | Buy | 11242025 | 7.39 | 10,000 | 73,900 | 162,580 | Form |
| 10 | Pierce, Brooks H | President and CEO | Direct | Buy | 11242025 | 7.04 | 10,000 | 70,400 | 84,480 | Form |
Industry Resources
| Consumer Discretionary Resources |
| Retail Dive |
| Business of Fashion (BoF) |
| WWD (Women's Wear Daily) |
| National Retail Federation (NRF) |
| McKinsey & Company - Consumer |
| Mintel Consumer Trends |
| Casinos & Gaming Resources |
| Casino.org News |
| Global Gaming Business |
| CDC Gaming Reports |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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