Specializing in the digital gambling sector, Codere Online Luxembourg, S.A. provides an array of online casino games and sports betting services. Its ...
Plutux is not an investment adviser. Market data and AI-generated analysis are for information and education only, not investment advice. Disclaimer
Est. EPS $0.08 · Revenue $62.78M · 2 analysts
Est. EPS $0.12 · Revenue $64.61M · 2 analysts
Est. EPS $0.32 · Revenue $260.96M · 2 analysts
Est. EPS $0.09 · Revenue $68.41M · 1 analysts
EPS €-0.03 · Revenue €65.47M
EPS €0.03 · Revenue €210.41M
EPS €0.05 · Revenue €52.54M
EPS €-0.03 · Revenue €52.66M
EPS €-0.03 · Revenue €52.66M
EPS €0.08 · Revenue €200.70M
| Metric | Latest | YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength. | QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes. |
|---|---|---|---|
| RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three). | $210.4M | +4.8% | +24.6% |
| Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day. | $1.3M | -66.9% | -164.1% |
| Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials. | +88.1% | -2.8% | -100.0% |
| Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on). | +2.7% | +26.4% | +3735.6% |
| Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales. | +0.6% | -68.5% | -151.5% |
| Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock. | $16.4M | +345.4% | +35.7% |
| FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine. | +7.8% | +324.9% | +8.9% |
| Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe. | 13.8% | -38.3% | -63.9% |
| Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking. | 1.37x | -2.2% | +28.9% |
| Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground. | $80.9M | +8.5% | +9.6% |
| Metric | Annual (A vs E) | Annual Surprise | Quarter (A vs E) | Quarter Surprise |
|---|---|---|---|---|
| EPS Surprise | 0.03 vs 0.02 | +20.0% | -0.03 vs 0.04 | -178.4% |
| Revenue Surprise | $210.4M vs $218.9M | -3.9% | $65.5M vs $58.2M | +12.5% |
| Date | Executive | Title | Security | Side | Shares | Price |
|---|---|---|---|---|---|---|
| Jun 18, 2026 | Iglesias Sanchez Oscar | director | Ordinary Shares | D | 14,276 | $10.04 |
| Jun 16, 2026 | Iglesias Sanchez Oscar | director | Ordinary Shares | D | 2,812 | $10.01 |
| Jun 15, 2026 | Iglesias Sanchez Oscar | director | Ordinary Shares | D | 300 | $10.00 |
| Jun 12, 2026 | Iglesias Sanchez Oscar | director | Ordinary Shares | D | 2,130 | $10.00 |
| Jun 8, 2026 | Iglesias Sanchez Oscar | director | Ordinary Shares | D | 50 | $10.00 |
Operator: Hello, everyone. Thank you for joining us, and welcome to Codere Online's Second Quarter 2026 Results. [Operator Instructions] I will now hand the conference over to Guillermo Lancha, Director of Investor Relations and Communications. Guillermo, please go ahead. Guillermo Lancha: Thanks, operator, and welcome, everyone, to Codere Online's earnings call for the second quarter of 2026. Today, you will hear from our CEO, Aviv Sher; and CFO, Marcus Arildsson. Please note that figures reflected in today's presentation are preliminary and unaudited and include certain non-IFRS financial metrics, which should be considered in addition to our IFRS results. Reconciliations and further details are available in the appendix. During this call, we will make forward-looking statements, which are subject to risks and uncertainties. While these statements reflect our current expectations, we undertake no obligation to update them after this call. A replay and transcript will be available at codereonline.com where investors can also sign up for e-mail alerts. With that, I will go ahead and pass the call on to Aviv. Aviv Sher: Thanks, Guillermo, and thank you all for joining us today. The second quarter was a standout quarter for Codere Online. We delivered our highest quarterly revenue to date alongside strong profitability and cash generation. Revenue growth accelerated meaningfully versus an already strong first quarter, driven by solid execution in Spain and Mexico and improving conditions in Colombia and Panama, providing us with a solid position and confidence to raise our outlook for the full year. Starting with the highlights for the second quarter of 2026 on Page 8. We delivered consolidated net gaming revenue of EUR 69.4 million, representing a 27% increase versus the second quarter of last year and a significant sequential acceleration versus the first quarter. Casino accounted for 62% of revenue during the period, while sports betting represented the remaining 38%. These trends are consistent with recent quarters, although the contribution from sport increased slightly due to the World Cup. All operating KPIs improved in the quarter with an average monthly active customer reaching approximately 173,000, up 12% compared to Q2 of last year and average monthly spend per customer up 13% year-over-year to EUR 134, reflecting both strong engagement and a higher player value base. On the acquisition side, we acquired around 108,000 first-time depositors during the quarter, nearly 40% more than in prior year quarter. Once again, supported by strong activity around the World Cup, cost per acquisition improved approximately to EUR 200, demonstrating the continued efficiency of our marketing investments. Most importantly, based on strong performance delivered in the quarter and the momentum we continue to see across the business, we are raising our guidance for the full year of 2026. We now expecting revenue -- gaming revenue of between EUR 255 million …
| Name | Title | Gender | Year Born | Status |
|---|---|---|---|---|
Aviv Sher | Chief Executive Officer | Male | 1980 | Active |
Moshe Edree | Executive Vice Chairman of the Board | Male | 1967 | Active |
Amalia López | Chief Accounting Officer | Female | 1979 | Active |
Deborah Guivisdalsky | Chief Operating Officer | Female | 1982 | Active |
Yaiza Rodriguez | General Counsel & Secretary of the Board | Female | 1987 | Active |
Alberto Telias | Chief Marketing Officer | Male | 1983 | Active |
Guillermo Lancha | Director of Investor Relations | Male | — | Active |
Marcus Arildsson | Chief Financial Officer | Male | 1973 | Active |
Matan Shemesh | Chief of Growth & Strategy | Male | 1981 | Active |
Codere Online delivered record-breaking World Cup results, acquiring 40,000 new customers at a lower CAC and raising FY 2026 guidance. CDRO posted 26.6% YoY revenue growth and doubled adjusted EBITDA margin, with healthy KPIs in both user growth and monetization. Mexico and Spain segments outperformed, with Mexico focusing on higher spend per user and Spain exceeding growth targets despite market maturity.
Codere Online Luxembourg, S.A. (CDRO) Q2 2026 Earnings Call Transcript
Codere Online Luxembourg NASDAQ: CDRO reported record quarterly net gaming revenue and higher profitability for the second quarter of 2026, citing growth in Spain and Mexico, improved conditions in Colombia and Panama, and strong activity surrounding the World Cup.
The Company once again delivered record quarterly net gaming revenue of €69.4 million and Adj. EBITDA of €5.8 million Total revenue was €64.4 mm in Q2 2026, while net gaming revenue1 was €69.4 mm, 27% above Q2 2025.
Madrid, Spain and Tel Aviv, Israel, July 14, 2026 (GLOBE NEWSWIRE) – Codere Online Luxembourg, S.A. (Nasdaq: CDRO / CDROW) (the “Company” or “Codere Online”) a leading online gaming operator in Spain and Latin America, today announced that it will release its second quarter 2026 results prior to 8:30AM US Eastern Time on July 30, 2026.
