Bragg has reported revenue of €25.7m (£22.3m) for the first quarter of 2026, with the supplier further laying out its pivot towards an “AI-driven model”.
Revenue remained flat when compared to the corresponding period in 2025, with a one-off boost thanks to a Caesars Entertainment deal in the US in Q1 2025 not being replicated in 2026.
Adjusted EBITDA was also flat at €4m and overall net losses for the period amounted to €1.2m, down from €2.6m in 2025.
In January, Bragg announced it had cut its global workforce by 12% as part of a shift towards an AI-first model, which would generate annual savings of €4.5m.
The firm noted that the ‘Bragg AI Brain’ was “designed to power smarter decisions and intelligent products across Bragg’s ecosystem in order to reduce the company’s overall cost structure, drive its EBITDA growth and move it toward sustained net profitability”.
Speaking on the supplier’s Q1 analyst call, CEO Matevž Mazji doubled down on the company’s AI investment and noted the change would prevent “bottlenecks” across product delivery.
He said: “We are evolving to focus on a higher margin, proprietary games-first AI-driven model, stepping into the role of the ecosystem architect.
“This refocus is defined by several core shifts from volume to quality, shifting away from low-margin aggregation volume and third-party content dependency to proprietary-first IP model and the creation of repeatable game franchises.
“From supplier to architect, changing the core identity from a B2B supplier to the ecosystem architect. This means managing the entire player funnel from awareness to intent to retention, rather than just providing games with continuing focus on key geographies such as North America, Brazil and core European markets from traditional igaming to cross vertical integration.
“Our goal is to use our existing PAM and HUB infrastructure to achieve cross-vertical synergies, integrating racing, lottery and sports betting outcomes into dynamic igaming experiences.
“And of course, operational transformation, embedding proprietary technologies like Bragg AI Brain to hyper-personalise content, predict player behaviour and autonomously write code to crush delivery bottlenecks.”
Earlier this week, Bragg announced the acquisition of multi-studio supplier Drayton International in an all-stock deal, while appointing Tekkorp Capital chief Matt Davey as non-executive chair.
Mazji added: “We continued to execute well across our business in the first quarter. But in many ways, I believe we are only just approaching the starting line as we work to complete our potentially transformative transaction with Drayton, which we believe will position Bragg to lead the future of the global gaming industry with the right team, the best technology, a refreshed brand and a clear ‘games-first’ focus.”
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Strategic pivot will see the company “changing its core identity from a B2B supplier to the ecosystem architect”, as bosses champion planned acquisition of Drayton International
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