Codere Online Swings to H1 Profit: €5.6M Net Income on 18% Revenue Growth
CDRO sits 87% above its 52-week low of $5.18 on light trading volume (0.3× avg).
Summary
Codere Online reported H1 2026 net income of €5.6 million, reversing a prior-year loss, on revenue of €124.7 million (+18% YoY). The company also finalized its Mendoza exit and holds €62.5 million in cash with no external debt.
Key Events · Earnings and Guidance · CDRO
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H1 2026 Profit Turnaround
Net income of €5.6 million versus a €3.1 million loss in H1 2025; EPS of €0.123 versus €(0.069).
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Revenue Growth Accelerates
Revenue rose 18% to €124.7 million, led by online casino wagering (€76.2M) and sports betting (€48.4M); Mexico contributed €62.2M and Spain €53.1M.
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Strong Cash Position, No Debt
Cash and cash equivalents reached €62.5 million, up from €50.0 million at year-end 2025, with no bank debt or external borrowings.
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Mendoza Exit Completed
IPJC authorized the transfer of the Temporary Union Contract on September 17, 2026; Codere Online ceased Mendoza services on August 10, 2026.
Analysis · CDRO · Trade & Services
Codere Online turned profitable in the first half of 2026, posting €5.6 million in net income versus a €3.1 million loss a year earlier. Revenue climbed 18% to €124.7 million, driven by online casino wagering and sports betting across Spain and Mexico. The company also completed its exit from Mendoza, Argentina, with regulatory approval on September 17, 2026. The balance sheet strengthened with cash rising to €62.5 million and no external borrowings. The authorized share capital was reduced to 100 million shares, and the warrant liability grew to €5.5 million ahead of its November 30, 2026 expiration.
How filings like this one have moved
In the 30 days to Sep 30, 2026, 29.6% of the 1609 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.57%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, CDRO was trading at $9.71 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $441.5M. The 52-week trading range was $5.18 to $10.26. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.