Q2 Flutter's Financial Report Highlights Strong Performance Across Diverse Market Segments
Flutter Entertainment, the global online betting, gaming, and entertainment giant, has announced impressive results for the second quarter of 2025, with significant growth across various regions and key business segments.
The company's brands have excelled in the UK, UKI, SEA, and APAC regions, largely due to a series of acquisitions. These strategic moves have bolstered Flutter's global EBITDA and iGaming performance, with particular success in Brazil and Italy, positioning the company as a regional powerhouse in Italy.
Peter Jackson, Flutter's CEO, expressed his satisfaction with the Q2 performance and the advancement of strategic objectives. He highlighted the company's success in the US market, where FanDuel's lead in the iGaming sector continued to extend.
The Q2 revenue grew by 16% year-on-year to reach approximately $4.2 billion. Adjusted EBITDA for the quarter rose by 25% to $919 million. The company also recorded almost 16 million average monthly players, an 11% increase year-on-year.
These figures imply growth of 23% and 40%, respectively, for the year. Following the strong Q2 performance, Flutter Entertainment updated its full-year 2025 guidance. Revenue is now expected to reach approximately $17.26 billion to $17.3 billion, representing about a 23% increase year-over-year. Adjusted EBITDA guidance was raised to roughly $3.295 billion to $3.3 billion, reflecting a 40% increase compared to the previous year.
However, the net income for Q2 2025 decreased by 88% from $297 million in Q2 2024 to $37 million. This decrease was due to a non-cash charge, increased non-cash amortization of acquired intangibles, and an increased income taxes expense. Earnings per share also decreased from $1.45 in the prior-year period to $0.59 in Q2 2025.
Despite the dip in net income, the company's free net cash flow decreased by 9% to $156 million in Q2 2025. Net cash from operating activities, however, was $359 million in Q2 2025, up 11% year-on-year.
The adjusted EBITDA margin for Q2 2025 stood at 21.9%. These revisions illustrate significant upward momentum in Flutter’s scale and profitability prospects for 2025, with the US market as a key growth driver.
The acquisitions of Snai and NSX provided a boost to Flutter's global EBITDA and iGaming performance. However, sports betting experienced tough comparisons due to last year's European Football Championship.
In conclusion, Flutter Entertainment's Q2 2025 results demonstrate a robust performance, with continued growth in the US market and strategic expansions in various regions. The company remains optimistic about its performance for the rest of the year, with CEO Peter Jackson expressing confidence in Flutter's continued success.
[1] Flutter Entertainment Q2 2025 Results Press Release [2] Flutter Entertainment Full-Year 2025 Guidance Update Press Release [3] Flutter Entertainment Q2 2025 Earnings Call Transcript [4] Flutter Entertainment Q2 2025 Financial Statements [5] Flutter Entertainment Q2 2025 Investor Presentation
Technological advancements have played a significant role in Flutter Entertainment's expansion, enabling its development of online sports betting platforms. The success of these platforms, such as FanDuel's lead in the iGaming sector, has contributed to the company's overall growth.
Moreover, as Flutter Entertainment continues to integrate new acquisitions, like Snai and NSX, into its family of brands, they are expected to bolster the company's offerings in sports betting, technology, and sports, catering to a wider global audience.
