Reported Earnings • May 08
Full year 2025 earnings released: EPS: €0.001 (vs €0.004 loss in FY 2024) Full year 2025 results: EPS: €0.001 (up from €0.004 loss in FY 2024). Revenue: €7.15m (up 103% from FY 2024). Net income: €394.5k (up €2.10m from FY 2024). Profit margin: 5.5% (up from net loss in FY 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has fallen by 34% per year, which means it is significantly lagging earnings. New Risk • Apr 30
New major risk - Revenue and earnings growth Earnings have declined by 0.4% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 0.4% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Market cap is less than US$100m (UK£12.1m market cap, or US$16.4m). Announcement • Apr 27
B90 Holdings PLC to Report Fiscal Year 2025 Final Results on May 06, 2026 B90 Holdings PLC announced that they will report fiscal year 2025 final results at 8:00 AM, GMT Standard Time on May 06, 2026 New Risk • Apr 10
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Share price has been volatile over the past 3 months (8.4% average weekly change). Market cap is less than US$100m (UK£11.5m market cap, or US$15.4m). New Risk • Apr 01
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 British stocks, typically moving 7.8% 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: Minor Risks Share price has been volatile over the past 3 months (7.8% average weekly change). Market cap is less than US$100m (UK£10.1m market cap, or US$13.5m). Reported Earnings • Sep 25
First half 2025 earnings released: EPS: €0 (vs €0.001 loss in 1H 2024) First half 2025 results: EPS: €0 (improved from €0.001 loss in 1H 2024). Revenue: €2.41m (up 75% from 1H 2024). Net loss: €39.2k (loss narrowed 88% from 1H 2024). Revenue is forecast to grow 25% p.a. on average during the next 2 years, compared to a 6.3% growth forecast for the Hospitality industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. New Risk • Sep 22
New major risk - Revenue and earnings growth Earnings have declined by 8.0% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 8.0% per year over the past 5 years. Minor Risks Less than 1 year of cash runway based on current free cash flow (-€480k). Share price has been volatile over the past 3 months (8.9% average weekly change). Revenue is less than US$5m (€3.5m revenue, or US$4.1m). Market cap is less than US$100m (UK£16.3m market cap, or US$22.0m). Announcement • Sep 16
B90 Holdings PLC to Report First Half, 2025 Results on Sep 22, 2025 B90 Holdings PLC announced that they will report first half, 2025 results on Sep 22, 2025 Announcement • Aug 29
B90 Holdings PLC, Annual General Meeting, Sep 16, 2025 B90 Holdings PLC, Annual General Meeting, Sep 16, 2025, at 10:00 Central European Standard Time. Location: signature portomaso, portomaso business centre, portomaso, ptm 01, st julians, Malta New Risk • Jul 25
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 British stocks, typically moving 7.9% 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: Minor Risks Less than 1 year of cash runway based on current free cash flow (-€480k). Share price has been volatile over the past 3 months (7.9% average weekly change). Revenue is less than US$5m (€3.5m revenue, or US$4.1m). Market cap is less than US$100m (UK£14.3m market cap, or US$19.3m). New Risk • Jul 01
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -€480k This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-€480k free cash flow). Earnings have declined by 8.0% per year over the past 5 years. Minor Risks Revenue is less than US$5m (€3.5m revenue, or US$4.2m). Market cap is less than US$100m (UK£11.0m market cap, or US$15.2m). Reported Earnings • May 09
Full year 2024 earnings released: €0.004 loss per share (vs €0.017 loss in FY 2023) Full year 2024 results: €0.004 loss per share (improved from €0.017 loss in FY 2023). Revenue: €3.52m (up 16% from FY 2023). Net loss: €1.70m (loss narrowed 69% from FY 2023). Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 29% per year, which means it is significantly lagging earnings. New Risk • Apr 11
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (56% increase in shares outstanding). Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Share price has been volatile over the past 3 months (8.9% average weekly change). Revenue is less than US$5m (€3.6m revenue, or US$4.1m). Market cap is less than US$100m (UK£10.1m market cap, or US$13.3m). New Risk • Feb 15
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 British stocks, typically moving 7.0% 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 Shareholders have been substantially diluted in the past year (56% increase in shares outstanding). Minor Risks Less than 1 year of cash runway based on current free cash flow (-€4.5m). Share price has been volatile over the past 3 months (7.0% average weekly change). Revenue is less than US$5m (€3.6m revenue, or US$3.8m). Market cap is less than US$100m (UK£11.9m market cap, or US$15.0m). Reported Earnings • Sep 26
First half 2024 earnings released: €0.001 loss per share (vs €0.006 loss in 1H 2023) First half 2024 results: €0.001 loss per share (improved from €0.006 loss in 1H 2023). Revenue: €1.38m (up 83% from 1H 2023). Net loss: €322.0k (loss narrowed 82% from 1H 2023). Revenue is forecast to grow 52% p.a. on average during the next 2 years, compared to a 6.3% growth forecast for the Hospitality industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 31% per year, which means it is significantly lagging earnings. Announcement • Sep 23
B90 Holdings plc Provides Earnings Guidance for the Full Year 2024 B90 Holdings PLC provided earnings guidance for the full year 2024. The first half of 2024 has been a period of significant progress for the company. The company has successfully restructured casino and sportsbook operations towards outsourced solutions, allowing to concentrate on core strengths. This shift has resulted in positive EBITDA for eight consecutive months and a substantial increase in revenue compared to the same period in 2023, driven by strategic initiatives and successful marketing campaigns during the Euros 2024. Announcement • Sep 17
B90 Holdings PLC to Report First Half, 2024 Results on Sep 23, 2024 B90 Holdings PLC announced that they will report first half, 2024 results on Sep 23, 2024 Announcement • Aug 30
B90 Holdings PLC, Annual General Meeting, Sep 17, 2024 B90 Holdings PLC, Annual General Meeting, Sep 17, 2024. Location: the offices of the company, 33 37 athol street, im1 1lb, douglas Isle of Man New Risk • Aug 19
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 British stocks, typically moving 7.2% 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 Shareholders have been substantially diluted in the past year (56% increase in shares outstanding). Minor Risks Less than 1 year of cash runway based on current free cash flow (-€5.8m). Share price has been volatile over the past 3 months (7.2% average weekly change). Revenue is less than US$5m (€3.0m revenue, or US$3.4m). Market cap is less than US$100m (UK£16.5m market cap, or US$21.4m). Board Change • Jul 02
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Director Andy McIver was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • May 31
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 56% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (56% increase in shares outstanding). Minor Risks Less than 1 year of cash runway based on current free cash flow (-€5.8m). Revenue is less than US$5m (€3.0m revenue, or US$3.3m). Market cap is less than US$100m (UK£14.9m market cap, or US$19.0m). Reported Earnings • May 17
Full year 2023 earnings released: €0.017 loss per share (vs €0.016 loss in FY 2022) Full year 2023 results: €0.017 loss per share (further deteriorated from €0.016 loss in FY 2022). Revenue: €3.03m (up 42% from FY 2022). Net loss: €5.47m (loss widened 28% from FY 2022). Revenue is forecast to grow 47% p.a. on average during the next 2 years, compared to a 7.5% growth forecast for the Hospitality industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 38% per year, which means it is significantly lagging earnings. New Risk • Apr 15
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Revenue is less than US$5m (€1.9m revenue, or US$2.0m). Market cap is less than US$100m (UK£9.17m market cap, or US$11.4m). Announcement • Feb 01
B90 Holdings PLC Provides Earnings Guidance for the Year Ended December 31, 2023 B90 Holdings PLC provided earnings guidance for the year ended December 31, 2023. Revenue and reported loss for fiscal year 2023 are expected to be in line with market expectations, although increased marketing and administrative expenses (including one-off restructuring costs) during the year are expected to result in an increased adjusted EBITDA loss over 2022. Reported Earnings • Oct 02
First half 2023 earnings released: €0.006 loss per share (vs €0.005 loss in 1H 2022) First half 2023 results: €0.006 loss per share (further deteriorated from €0.005 loss in 1H 2022). Revenue: €754.7k (down 25% from 1H 2022). Net loss: €1.80m (loss widened 41% from 1H 2022). Announcement • Sep 17
B90 Holdings PLC has completed a Follow-on Equity Offering in the amount of £1.999996 million. B90 Holdings PLC has completed a Follow-on Equity Offering in the amount of £1.999996 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 36,731,551
Price\Range: £0.054449
Transaction Features: Subsequent Direct Listing Announcement • Sep 15
B90 Holdings PLC (AIM : B90) completed the acquisition of Emwys AB from Funko International Ab for €4.2 million. B90 Holdings PLC (AIM : B90) agreed to acquire Emwys AB from Funko International Ab for €3.6 million on July 12, 2023. Consideration will be cash free debt free basis. Initial consideration payable is an immediate payment of €0.5 million in cash and €0.25 million in the form of convertible loan notes (the "CLNs"), both of which are non-refundable. The balance consideration is payable on the Closing Date, subject to certain performance conditions being achieved, and consists of €1.25 million in cash and €1.6 million either in the form of CLNs or the issue of new ordinary shares. The expected closing date for the Acquisition is no later than September 1, 2023. James Harris, Richard Johnson and Rob Patrick of Strand Hanson Limited advised in transaction.
B90 Holdings PLC (AIM : B90) completed the acquisition of Emwys AB from Funko International Ab for €4.2 million on September 15, 2023. The balance consideration due to the vendor, Funko International AB, is being settled as to €1.25 million in cash together with €1.6 million in equity, which the parties have agreed to issue at the Issue Price, resulting in the vendor receiving 25,271,308 new Ordinary Shares. Announcement • Aug 15
B90 Holdings plc Announces Management Changes B90 Holdings plc announced the appointment of Andrew McIver as a Non-Executive Director with immediate effect. Andrew has long been involved with a host of successful gaming businesses and, for the last three years, has been Non-Executive Chairman of a leading Italian gambling company, Planet Win/SKS365 Malta Ltd, as it has grown its EBITDA from £25 million to £65 million. From mid-2016 to early 2018, Andrew was Group Chief Executive of Jackpotjoy plc, one of the world's online bingo companies at the time, with an EBIDTA of £100 million. With global operations, it was initially listed on the Toronto Stock Exchange as a roll-up vehicle, rapidly growing through an acquisition strategy. Upon joining as CEO, Andrew moved the listing to the London Stock Exchange and successfully refocused the business on operations. Prior to this, for over a decade, Andrew was on the board of Sportingbet plc, first as Chief Financial Officer and then as Group Chief Executive Officer. Established in 1998, Sportingbet was one of the first online gaming companies and as CFO, Andrew oversaw the financing for its $300 million acquisition of Canada's Paradise Poker. Andrew has also been Director of Finance for House of Fraser plc and held senior roles at British Telecom plc, Hilton Group Finance plc (now Ladbrokes Group Finance plc), and Signet Group plc (now Signet Group Limited). He has also acted as a Non-Executive Director for both AIM-quoted and private companies. He began his career as a Chartered Accountant with Arthur Andersen LLP, following which he moved into corporate finance at Kleinwort Benson. B90 is also announced that Farzad Peyman, who was recently hired as a consultant in order to strengthen the finance function and M&A, has taken the permanent role as Chief Finance and M&A Development Officer. Announcement • Jul 18
B90 Holdings PLC, Annual General Meeting, Jul 31, 2023 B90 Holdings PLC, Annual General Meeting, Jul 31, 2023, at 15:00 Central European Standard Time. Location: B90 Services, in Amsterdam the Netherlands, located atDe Cuserstraat 93, 1081 CN Amsterdam Amsterdam Netherlands New Risk • Jul 02
New major risk - Revenue and earnings growth Earnings have declined by 2.1% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-€2.3m free cash flow). Earnings have declined by 2.1% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Shareholders have been diluted in the past year (6.6% increase in shares outstanding). Revenue is less than US$5m (€2.1m revenue, or US$2.3m). Market cap is less than US$100m (UK£21.9m market cap, or US$27.8m). Reported Earnings • Jul 01
Full year 2022 earnings released: €0.016 loss per share (vs €0.019 loss in FY 2021) Full year 2022 results: €0.016 loss per share. Revenue: €2.14m (up 159% from FY 2021). Net loss: €4.27m (loss widened 27% from FY 2021). Recent Insider Transactions • Apr 25
Key Executive recently bought UK£128k worth of stock On the 20th of April, Ronny Breivik bought around 2m shares on-market at roughly UK£0.068 per share. This transaction amounted to 10% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Ronny's only on-market trade for the last 12 months. Announcement • Feb 07
B90 Holdings PLC Appoints Mark Blandford as Strategic Adviser B90 Holdings PLC announced that it has appointed Mark Blandford as a strategic adviser to the Company with immediate effect. Mark is senior industry figure and considered by many to be one of the founders of the developed online gaming industry. Having started his career as the owner of a traditional 'bricks and mortar' bookmaker's chain for over 15 years, he then recognised the potential of the internet for the industry in the mid-1990s. In 1998 he founded Sportingbet.com, and in 2001 floated the company on AIM. Mark stepped down from the Board of Sportingbet in 2007 before its eventual sale in 2013 with the assets being split between William Hill and GVC. In 2002, he was awarded AIM Entrepreneur of the Year. After stepping down from the board of Sportingbet, Mark has become an active, successful and widely followed investor in the digital gambling and entertainment space. His family investment portfolio now spans over 40 companies across a broad range of sectors, but still with a primary focus on gaming, support services and data driven scalable tech businesses. He is a current non-executive director of Gaming Realms plc. He also sits as Chairman of the board of Gambling.com Group Limited. Mark serves as Chairman of the board of directors at FSB Technology (U.K.) Ltd., Double Diamond Gaming Limited, and Condor Properties. Announcement • Feb 06
B90 Holdings PLC Provides Earnings Guidance for the Year Ended 31 December 2022 B90 Holdings PLC provided earnings guidance for the year ended 31 December 2022. The business continued to perform in line with management expectations during the second half of fiscal year 2022. As a result, the board expects that revenues for fiscal year 2022 will be in marginally in excess of €2.1 million, in line with market expectations. The company expects to report a reduced loss for fiscal year 2022 compared to fiscal year 2021, with an increase in administrative expenses, principally due to investment in marketing and operations, which together with exceptional costs incurred in connection with the EGM requisition, is expected to result in an operating loss of approximately €3.0 million. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Director Martin Fleisje was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Sep 24
First half 2022 earnings released: €0.005 loss per share (vs €0.01 loss in 1H 2021) First half 2022 results: €0.005 loss per share (improved from €0.01 loss in 1H 2021). Revenue: €1.01m (up 150% from 1H 2021). Net loss: €1.28m (loss narrowed 11% from 1H 2021). Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Reported Earnings • Jun 21
Full year 2021 earnings released: €0.019 loss per share (vs €0.025 loss in FY 2020) Full year 2021 results: €0.019 loss per share. Revenue: €826.9k (up 1.7% from FY 2020). Net loss: €3.35m (loss widened 42% from FY 2020). Board Change • May 23
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 3 non-independent directors. Independent Non-Executive Director Mark Rosman was the last independent director to join the board, commencing their role in 2014. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 01
First half 2021 earnings released: €0.01 loss per share (vs €0.01 loss in 1H 2020) The company reported a soft first half result with increased losses and weaker control over costs, although revenues improved. First half 2021 results: Revenue: €404.7k (up 26% from 1H 2020). Net loss: €1.43m (loss widened 47% from 1H 2020). Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has fallen by 32% per year, which means it is significantly lagging earnings. Reported Earnings • Jun 20
Full year 2020 earnings released: €0.025 loss per share (vs €0.036 loss in FY 2019) The company reported a soft full year result with weaker revenues and control over costs, although losses reduced. Full year 2020 results: Revenue: €813.0k (down 24% from FY 2019). Net loss: €2.37m (loss narrowed 18% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has fallen by 44% per year, which means it is performing significantly worse than earnings. 
