Valuation Update With 7 Day Price Move • Jun 16
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to €3.03, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 14x in the Hospitality industry in Europe. Total loss to shareholders of 31% over the past three years. Valuation Update With 7 Day Price Move • May 27
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to €3.36, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 13x in the Hospitality industry in Europe. Total loss to shareholders of 24% over the past three years. Reported Earnings • May 13
First quarter 2026 earnings released: €0.066 loss per share (vs €0.13 profit in 1Q 2025) First quarter 2026 results: €0.066 loss per share (down from €0.13 profit in 1Q 2025). Revenue: €11.4m (down 15% from 1Q 2025). Net loss: €461.0k (down 152% from profit in 1Q 2025). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Hospitality industry in Europe. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Announcement • Apr 21
bet-at-home.com AG, Annual General Meeting, May 29, 2026 bet-at-home.com AG, Annual General Meeting, May 29, 2026, at 10:00 W. Europe Standard Time. New Risk • Feb 24
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Austrian stocks, typically moving 10% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (10% average weekly change). Minor Risk Market cap is less than US$100m (€20.6m market cap, or US$24.3m). Announcement • Jan 03
bet-at-home.com AG Announces Supervisory Board Resignations, Effective January 2, 2026 Banijay Group has completed on January 2, 2026 the sale of its entire 53.9% stake in bet-at-home.com AG, in application of its announcement on 28 October 2025. In this context, François Riahi, Chief Executive Officer of Banijay Group, and Véronique Giraudon, Chief Financial Officer of Betclic, have resigned from their positions as members of the Supervisory Board of bet-at-home AG, with effect from January 2, 2026. Reported Earnings • Nov 10
Third quarter 2025 earnings released: €0.25 loss per share (vs €0.56 loss in 3Q 2024) Third quarter 2025 results: €0.25 loss per share (improved from €0.56 loss in 3Q 2024). Revenue: €10.8m (down 9.1% from 3Q 2024). Net loss: €1.73m (loss narrowed 56% from 3Q 2024). Revenue is forecast to grow 9.1% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Hospitality industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 73 percentage points per year, which is a significant difference in performance. Announcement • Apr 30
bet-at-home.com AG, Annual General Meeting, Jun 06, 2025 bet-at-home.com AG, Annual General Meeting, Jun 06, 2025, at 10:00 W. Europe Standard Time. Reported Earnings • Nov 08
Third quarter 2024 earnings released: €0.56 loss per share (vs €0.24 loss in 3Q 2023) Third quarter 2024 results: €0.56 loss per share (further deteriorated from €0.24 loss in 3Q 2023). Revenue: €13.2m (up 28% from 3Q 2023). Net loss: €3.90m (loss widened 134% from 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 53 percentage points per year, which is a significant difference in performance. Reported Earnings • Sep 24
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: €14.7m (up 34% from 2Q 2023). Net income: €268.0k (down 60% from 2Q 2023). Profit margin: 1.8% (down from 6.1% in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 49% per year, which means it has not declined as severely as earnings. Reported Earnings • May 19
First quarter 2024 earnings released First quarter 2024 results: Revenue: €12.5m (down 5.6% from 1Q 2023). Net income: €381.0k (down 51% from 1Q 2023). Profit margin: 3.0% (down from 5.8% in 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 20 percentage points per year, which is a significant difference in performance. Reported Earnings • Apr 14
Full year 2023 earnings released: €0.21 loss per share (vs €0.079 profit in FY 2022) Full year 2023 results: €0.21 loss per share (down from €0.079 profit in FY 2022). Revenue: €46.1m (down 14% from FY 2022). Net loss: €1.51m (down 373% from profit in FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 8 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 10
Full year 2023 earnings released: €0.21 loss per share (vs €0.079 profit in FY 2022) Full year 2023 results: €0.21 loss per share (down from €0.079 profit in FY 2022). Revenue: €49.2m (down 8.0% from FY 2022). Net loss: €1.51m (down 373% from profit in FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 9 percentage points per year, which is a significant difference in performance. New Risk • Feb 23
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Austrian stocks, typically moving 4.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 48% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (4.4% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.1% net profit margin). Market cap is less than US$100m (€17.8m market cap, or US$19.2m). Announcement • Nov 11
bet-at-home.com AG Provides Earnings Guidance for the Year 2023 bet-at-home.com AG provided earnings guidance for the year 2023. The company should easily reach its new sales guidance of EUR 44 million to EUR 48 million (eNuW: EUR 47 million). New Risk • Oct 12
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 5.3% Last year net profit margin: 16% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (6.4% average weekly change). Earnings have declined by 43% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (5.3% net profit margin). Market cap is less than US$100m (€26.0m market cap, or US$27.6m). New Risk • Jun 30
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 49% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (7.0% average weekly change). Earnings have declined by 41% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (€27.4m market cap, or US$29.8m). Valuation Update With 7 Day Price Move • Nov 22
Investor sentiment improved over the past week After last week's 73% share price gain to €7.69, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 16x in the Hospitality industry in Europe. Total loss to shareholders of 81% over the past three years. Valuation Update With 7 Day Price Move • Nov 02
Investor sentiment improved over the past week After last week's 19% share price gain to €5.22, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 15x in the Hospitality industry in Europe. Total loss to shareholders of 88% over the past three years. Reported Earnings • Sep 30
Second quarter 2022 earnings released Second quarter 2022 results: Net income: (up €3.33m from 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has fallen by 55% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Sep 26
Investor sentiment deteriorated over the past week After last week's 18% share price decline to €5.00, the stock trades at a trailing P/E ratio of 9.8x. Average trailing P/E is 18x in the Hospitality industry in Europe. Total loss to shareholders of 88% over the past three years. Announcement • Aug 24
bet-at-home.com AG Provides Earnings Guidance for the Fiscal Year 2022 bet-at-home.com AG provided earnings guidance for the fiscal year 2022. As already reported on June 27, 2022, the Management Board currently expects gross betting and gaming revenue of between EUR 50 million and EUR 60 million. Announcement • Jul 28
bet-at-home.com AG Provides Group Earnings Guidance for the Financial Year 2023 bet-at-home.com AG provided group earnings guidance for the financial year 2023. For the period, the company expects an annual improvement in Group EBIT of between EUR 6,000,000 and EUR 8,000,000 from the 2023 financial year onwards as a result of the outsourcing. Reported Earnings • May 24
First quarter 2022 earnings released First quarter 2022 results: Revenue: €14.6m (down 51% from 1Q 2021). Net loss: €2.73m (down 162% from profit in 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 38% per year whereas the company’s share price has fallen by 39% per year. Announcement • May 24
bet-at-home.com AG Provides Earning Guidance for the Financial Year 2022 bet-at-home.com AG provided earning guidance for the financial year 2022, For the year, the Management Board continues to expect generate gross betting and gaming revenue of between EUR 50 million and EUR 60 million. Reported Earnings • Apr 06
Full year 2021 earnings released: EPS: €1.52 (vs €3.32 in FY 2020) Full year 2021 results: EPS: €1.52 (down from €3.32 in FY 2020). Revenue: €63.3m (down 49% from FY 2020). Net income: €10.7m (down 54% from FY 2020). Profit margin: 17% (down from 19% in FY 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 31% per year whereas the company’s share price has fallen by 36% per year. Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorated over the past week After last week's 18% share price decline to €11.78, the stock trades at a trailing P/E ratio of 5.7x. Average forward P/E is 14x in the Hospitality industry in Europe. Total loss to shareholders of 75% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €14.33 per share. Announcement • Feb 19
Bet-At-Home.Com AG Appoints Marco Falchetto as a Member of the Management Board bet-at-home.com AG appointed Mr. Marco Falchetto as a member of the management board. Mr. Falchetto has broad experience regarding online sports betting and online casino. He worked for many years as a manager and consultant for various companies in the industry. Valuation Update With 7 Day Price Move • Jan 06
Investor sentiment improved over the past week After last week's 20% share price gain to €15.54, the stock trades at a trailing P/E ratio of 7.6x. Average forward P/E is 16x in the Hospitality industry in Europe. Total loss to shareholders of 68% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €13.60 per share. Valuation Update With 7 Day Price Move • Oct 19
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €18.94, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 18x in the Hospitality industry in Europe. Total loss to shareholders of 51% over the past three years. Reported Earnings • Sep 08
Second quarter 2021 earnings released The company reported a poor second quarter result with weaker earnings, revenues and control over costs. Second quarter 2021 results: Revenue: €27.0m (down 6.2% from 2Q 2020). Net loss: €3.33m (down 181% from profit in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 22% per year and the company’s share price has also fallen by 22% per year. Valuation Update With 7 Day Price Move • Jul 20
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €30.45, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 21x in the Hospitality industry in Europe. Total loss to shareholders of 50% over the past three years. Announcement • Jul 20
bet-at-home.com AG Adjusts Earnings Guidance for the Fiscal Year 2021 bet-at-home.com AG adjusted earnings guidance for the fiscal year 2021. For the year, the company expects a gross betting and gaming revenue between EUR 100 million and EUR 110 million, compared to previous guidance of EUR 106 million to EUR 118 million. Announcement • May 19
bet-at-home.com AG Approves Dividend bet-at-home.com AG at its Annual General Meeting approved the proposed resolution on the appropriation of net profits and thus the distribution of a dividend amount of EUR 17,545,000.00. This corresponds to a dividend of EUR 2.50 per share. In accordance with section 58 (4) sentence 2 of the German Stock Corporation Act (AktG), the claim to payment of the dividend is due on the third business day following the resolution by the Annual General Meeting,therefore on May 21, 2021. Reported Earnings • May 05
First quarter 2021 earnings released: EPS €0.63 (vs €0.83 in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: €30.1m (down 3.1% from 1Q 2020). Net income: €4.40m (down 25% from 1Q 2020). Profit margin: 15% (down from 19% in 1Q 2020). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 19% per year whereas the company’s share price has fallen by 18% per year. Reported Earnings • Mar 31
Full year 2020 earnings released: EPS €3.32 (vs €2.56 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: €124.6m (down 10.0% from FY 2019). Net income: €23.3m (up 30% from FY 2019). Profit margin: 19% (up from 13% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 19% per year whereas the company’s share price has fallen by 14% per year. Reported Earnings • Nov 11
Third quarter 2020 earnings released: EPS €0.64 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: €30.8m (down 10% from 3Q 2019). Net income: €4.48m (up €11.4m from 3Q 2019). Profit margin: 14% (up from net loss in 3Q 2019). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has fallen by 33% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Nov 04
Market bids up stock over the past week After last week's 17% share price gain to €38.30, the stock is trading at a trailing P/E ratio of 17.8x, up from the previous P/E ratio of 15.2x. This compares to an average P/E of 20x in the Hospitality industry in Europe. Total return to shareholders over the past three years is a loss of 60%. Reported Earnings • Sep 18
First half earnings released Over the last 12 months the company has reported total profits of €15.1m, down 61% from the prior year. Total revenue was €129.4m over the last 12 months, down 9.4% from the prior year. 
