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Scout Gaming’s third quarter painted a challenging picture for the Swedish fantasy sports supplier, as revenue declines and write-downs outweighed earlier momentum across its B2B network.
B2B gains were not enough to balance the quarter
The numbers revealed a quarter shaped by slower sales and higher operational demands.
According to Scout Gaming’s interim report, total revenue fell 19% year on year to SEK 9.6m, with B2B operations dropping 9% to SEK 7.7m. B2C revenue slid 7% to SEK 1.6m, while other income fell sharply by 80% to SEK 0.4m as project-based earnings softened.
Write-downs pushed profitability deeper into the red
A single accounting entry became one of the quarter’s defining factors.
Scout Gaming recorded a SEK 1.1m write-down of receivables, which contributed to an EBITDA loss of SEK 3.9m, a reversal from the small SEK 0.1m profit posted in Q3 2024. The net result closed at a SEK 4.7m loss, widening from SEK 0.1m last year.
Nine month results show solid growth, but profitability remains weak
The broader picture shows demand for Scout’s products, but rising costs continue to strain performance.
Across the first nine months of 2025, Scout Gaming posted SEK 33.8m in total revenue, up 10% year on year. B2B operations delivered SEK 25.5m, while B2C reached SEK 4.9m and other revenue grew to SEK 3.5m. Despite these gains, cumulative EBITDA stood at SEK minus 5.1m, compared with SEK minus 3.6m in the same period of 2024.
Expansion efforts continue as core fantasy network grows
Scout still sees strong activity around its global fantasy sports partnerships.
The Stockholm headquartered company noted delays in client projects and higher operational costs, yet emphasised ongoing growth in its fantasy sports and sportsbook network. Scout operates development hubs in Lviv and supports major sports through its in house StatCenter.
The company has expanded steadily in international markets. In 2022, Scout signed a major partnership with Brazilian operator Cartola, strengthening its Latin American footprint. It also entered deals with Apple iSports to deliver fantasy and sportsbook products in Australia and North Dakota, supporting its broader B2B push.
A transition quarter with pressure to tighten operations
Scout Gaming’s Q3 results show a business balancing long-term opportunities with short-term financial strain.
The company enters the final stretch of 2025 with a growing product footprint, yet the quarter’s performance underlines the need for financial stability as the fantasy sports and sportsbook markets become more competitive.
For now, Scout’s expansion strategy continues, even as the latest numbers highlight the importance of careful cost control and stronger project flow.
Source: Gambling Insider
