Strong Revenue Growth Amidst …

This article first appeared on GuruFocus.

• Revenue Growth: Increased by 17% year over year.

• Adjusted EBITDA: Grew 6% in the quarter.

• Net Loss: $789 million for the quarter, primarily due to non-cash impairment charges and payments for US market access terms.

• US Revenue: Increased by 9%, with iGaming growth of 44% offsetting a 5% decline in sportsbook revenue.

• International Revenue: Grew by 21%, with acquisitions contributing 18 percentage points to this increase.

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• Adjusted Earnings Per Share: Grew 29% year over year.

• Operating Cash Flow: Reduced by $81 million year over year.

• Free Cash Flow: Reduced by $87 million year over year.

• Leverage Ratio: 4 times, or 3.7 times including Snai on a pro forma basis.

• Share Repurchases: $225 million in Q3 and $245 million in Q4, totaling $1.12 billion returned to shareholders in 2025.

• 2025 Guidance: Updated to reflect a decrease of $570 million in revenue and $380 million in adjusted EBITDA.

• FanDuel Predicts Investment: Anticipated incremental EBITDA costs of $40 million to $50 million in Q4 2025 and $200 million to $300 million in 2026.

Release Date: November 12, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

• Flutter Entertainment PLC (NYSE:FLUT) reported a 17% increase in group revenue and a 6% rise in adjusted EBITDA for Q3 2025, driven by strong organic iGaming growth and recent acquisitions.

• The company maintained its position as the number one online operator in both sportsbook and iGaming in the US, with iGaming revenue up 44% year over year.

• Flutter Entertainment PLC (NYSE:FLUT) is strategically expanding into prediction markets with the launch of FanDuel Predicts, aiming to capture a significant incremental addressable market in the US.

• The international division delivered a 21% revenue increase year over year, supported by acquisitions and strong organic growth in Turkey and Italy.

• The company is making progress on its $300 million cost transformation program, identifying further efficiencies beyond original targets, and continuing to return capital to shareholders with significant share repurchases.

• Flutter Entertainment PLC (NYSE:FLUT) reported a net loss of $789 million for the quarter, primarily due to a non-cash impairment charge related to regulatory changes in India and payments for improved US market access terms.

• The company reduced its full-year outlook for 2025 by $280 million in adjusted EBITDA due to customer-friendly sports results and increased competitive intensity in the US market.

• The sudden regulatory change in India forced Flutter Entertainment PLC (NYSE:FLUT) to cease real-money operations, resulting in a significant impairment charge.

• Increased amortization costs related to recent acquisitions and business transformation contributed to the net loss.

• The competitive landscape in the US remains challenging, with heightened levels of competitor generosity impacting sportsbook revenue and market dynamics.