Ainsworth: H1 2025 revenue up 22% to AU$152.1m

Key points:  

– Ainsworth has reported a revenue figure of AU$152.1m for H1 2025 

– This rising figure juxtaposes drops in both profits and EBITDA year-on-year 

– The company has reported positive performances in North America and Asia-Pacific, mixed with poor results from LatAm and Europe 

Ainsworth Game Technology has unveiled its full H1 2025 financial results, highlighting a revenue figure of AU$152.1m (US$98.3m) for the period, up 22.4% year-on-year.  

Indeed, this revenue figure also represents a marked increase from the prior half period ending 31 December 2025, in which the supplier reported revenue of AU$142.7m.

Nevertheless, over the course of the most recent six-month period, the supplier’s international percentage of total sales and number of units under gaming operations have both hit their lowest respective points since H2 2023.  

Ainsworth H1 2025 overview 

In more detail, Ainsworth’s positive revenue increase both year-on-year and half-on-half has been juxtaposed by a reported EBITDA figure that has dropped some 63.5% year-on-year, settling at AU$14.6m during H1 2025. This figure came paired with an EBITDA margin of 10%, down from the 23% reported during the same period of the prior – a drop attributable to gross margin pressures in product sales, according to Ainsworth. Underlying EBITDA managed to remain almost entirely flat.  

Regarding profits, gross profit figures for H1 2025 reached AU$84.8m, up by 4.7% year-on-year. Profit before tax, however, snowballed by 163% in comparison to results from the year prior, settling at AU$1.6 – with profits after tax also falling from AU$14m in H1 2024 to AU$4.9m in this year’s first half.  

Unsurprisingly, total operating costs for the company were up by 4% year-on-year to AU$71.4m, a figure almost identical to that of the one reported by Ainsworth during the second half of 2024. Elsewhere, Ainsworth’s total assets rose to AU$435.1 from AU$422.6 last H1, with total debt also falling to AU$11.4m from AU$24.1m during the same period of the prior year 

Ainsworth results by region  

Overall, the supplier specified as part of its release that increasing recurring revenue figures from the North American market was offset by lower online revenues and pressure in the LatAm market.  

In the North American market, the supplier reported a revenue figure of AU$83.1m, up 20.1% year-on-year and 4.9% half-on-half – with gross profit hitting AU$52.4m, up 7.5% from H1 2024 and 0.9% from H2 2024. Segment EBITDA for the region also rose by approximately AU$1m half-on-half and 8.7% year-on-year, settling at AU$43.1m. Segment profit also reached AU$36m, up 9.9% year-on-year.  

In the LatAm and European regions, profits were up 7.5% year-on-year, reaching AU$31.6m. However, this figure represents a drop of 17% in comparison to the prior half. Indeed, overall profits and segment EBITDA for the regions was down both year-on-year and half-on-half.  

In opposition to this, the AU$34.6m generated by the Asia-Pacific region during H1 2025 represented a 57.7% increase year-on-year and a 37% increase in comparison to results from the second half of 2024. Indeed, both segment gross profits and EBITDA from the region were subject to similarly positive upswings, settling at AU$13.9m and AU$8.2m, respectively.  

As shown in the graph below, online revenue company-wide was down by almost half during the first half of this calendar year compared to the same period of 2024, but up by 11% compared to last year’s second half.  

Good to know: During H1 2025, Novomatic proposed the acquisition of the remaining 47.1% shares in Ainsworth at a value of US$1 per share

Company comments 

Specified as part of the concluding remarks to the supplier’s H1 2025 financial presentation, Ainsworth stated with relation to its online operations: “Ainsworth Interactive is evolving its strategy with a sharp focus on accelerating game development and expanding our digital footprint. With direct control of our US online sales distribution, we’ve deepened our relationships with major operators including BetMGM, DraftKings, Caesars and Rush Street. New operators that will launch Ainsworth games later in 2025 will include FanDuel and Fanatics casinos.  

“Our direct-to-operator approach will enable us to deliver custom-tailored gaming experiences that much better match the needs of each partner’s player base. In 2025, we’re also expanding our distribution channels to capture new segments and increase recurring revenue. This includes strengthening our position in the social casino space through Zynga’s Hit It Rich, while laying the groundwork for future omni-channel integrations.”