Codere Online Achieves Record €64.4M Revenue, Swings to €7.0M Net Profit in Q1
Summary
Codere Online reported strong Q1 2026 financial results, achieving record quarterly net gaming revenue of €64.4 million, a 13% increase year-over-year. The company swung to a net profit of €7.0 million, compared to a net loss of €0.7 million in Q1 2025, and reported Adjusted EBITDA of €6.0 million, a significant improvement of €4.2 million from the prior year. This positive earnings report provides a strong counterpoint to recent SEC filings, including a 20-F that disclosed an unremediated material weakness in financial controls. The substantial growth in revenue, coupled with the swing to profitability and strong EBITDA, indicates improving operational efficiency and market traction. Management reiterated its full-year 2026 outlook, suggesting confidence in continued performance.
At the time of this announcement, CDRO was trading at $9.05 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $412.3M. The 52-week trading range was $5.18 to $9.68. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.