evoke Reports Revenue Growth, Reaffirms FY25 Guidance

evoke Plc (LSE: EVOK), a global betting and gaming leader, announced a 5% increase in revenue for Q3 2025, reaching £435 million. This marks the fifth consecutive quarter of year-over-year revenue growth, driven by positive performance across all three of its operating divisions, including a resurgence in Retail.

The company maintains its FY25 Adjusted EBITDA margin guidance of at least 20%, inspiring confidence in surpassing current market expectations.

UK&I Online revenue saw a modest 1% increase, with sports betting growing by 8% due to favorable win margins compared to the prior year.

This was partially offset by a 2% decline in gaming, attributed to a strategic reduction in marketing spend for the 888 brand, aimed at achieving higher marketing returns. International markets demonstrated stronger growth, with an 8% revenue increase fueled by double-digit gains in key regions like Italy, Denmark, and Romania.

Retail revenues climbed 6%, supported by growth in both sports and gaming, the latter benefiting from the rollout of new gaming cabinets.

The successful refinancing of the 2027 EUR fixed rate notes, replaced with new 8.0% EUR fixed rate notes due 2031, extends maturities and is projected to deliver approximately £5 million in annualised cash interest cost savings.

The company's focus on sustainable, profitable growth is evident in the faster growth of contribution relative to revenue. This is achieved through improved marketing return on investment and an increasingly efficient operating model. evoke is actively managing the business to enhance profitability.

Driver Breakdown:

• Strategic Execution: Continued advancement of strategic initiatives transforming long-term competitive capabilities.
• International Growth: Strong performance in core international markets, particularly Italy, Denmark, and Romania.
• Product Innovation: Launch of new products like the William Hill Vegas app and improvements to accumulator offerings.

Per Widerström, CEO of evoke, commented: “During Q3 we continued to execute against our strategy which is transforming our long-term competitive capabilities and building a more efficient and profitable business.”

The company is targeting 5-9% annual revenue growth, approximately 100bps of Adjusted EBITDA margin expansion per year, and leverage below 3.5x by the end of 2027.