Super Group (SGHC) Limited

Latest Results (20.05.2026):

Super Group (SGHC) Limited — second quarter of 2025: the company reported record quarterly results with revenue of $579.4 million, profit before tax of $38.8 million, and the highest-ever quarterly Adjusted EBITDA of $156.7 million (Adjusted EBITDA ex‑U.S. $162.0 million; U.S. Adjusted EBITDA loss ~$5.4 million). Management raised full‑year Adjusted EBITDA guidance and finished Q2 with $393.0 million of unrestricted cash and zero debt.

Quarterly revenue & profit

Revenue was $579.4 million in Q2 2025, up 30% year-over-year. Profit before tax was $38.8 million for the quarter, which includes a non-cash impairment charge of $63.9 million related to DGC iGaming assets and $22.6 million for onerous contracts.

Adjusted EBITDA and margin

Adjusted EBITDA rose 78% year-over-year to $156.7 million in Q2 2025 (Adjusted EBITDA ex‑U.S. $162.0 million; U.S. loss of ~$5.4 million), delivering a ~27% Adjusted EBITDA margin, the strongest quarterly margin reported by management.

Guidance update

Full‑year guidance was raised: Group Adjusted EBITDA $470–$480 million; Ex‑U.S. Adjusted EBITDA $500–$510 million (up from >$480m prior guidance). U.S. Adjusted EBITDA is expected to be a loss of ~$30 million (excludes one‑off U.S. exit costs).

U.S. exit and one‑off items

Management reiterated its decision to exit the U.S. market for capital efficiency. Q2 profit before tax reflects related one‑off and non‑cash items (DGC impairment and onerous contracts); the company separately adjusts these when reporting Adjusted EBITDA.

Cash, capital returns and balance sheet

Unrestricted cash was $393.0 million as of June 30, 2025, with zero debt. The company paid $20.2 million in dividends during the quarter, bringing 12‑month capital returns to $166 million. Total assets were $1.1 billion, liabilities $454.4 million and total equity $662.3 million.

Customer and growth metrics

Monthly active customers increased 21% year-over-year to 5.5 million in Q2 2025, driven by higher deposits, retention and global sporting events per management commentary.

Revenue mix by product and region

Online casino was the dominant product in Q2 at $454 million of revenue (out of $579.4m). Regionally, growth was driven by Africa, Europe and North America, while LATAM, Middle East and Asia‑Pacific showed declines versus the prior year.