Brightstar Lottery PLC (NYSE: BRSL) swings to Q2 profit, reaffirms 2026 outlook
Rhea-AI Filing Summary
Brightstar Lottery PLC reported second-quarter 2026 revenue of $584 million, down from $631 million a year earlier, as higher non-cash service revenue amortization and a U.K. contract transition offset global same-store sales growth. Income from continuing operations improved to $56 million from a loss of $60 million, with diluted EPS of $0.18. Adjusted EBITDA rose 4% to $286 million, lifting the margin to 48.9%.
Operating cash flow from continuing operations was $(1,340) million, and free cash flow was $(1,461) million, driven primarily by the final $1.67 billion Italy Lotto license payment (BRSL share $1.03 billion). Net debt was $3.79 billion, with net debt leverage of 3.24x and liquidity of $1.7 billion. The company deployed over $140 million year-to-date to shareholders, including $85 million in dividends and $55 million in buybacks, and declared a quarterly dividend of $0.23 per share, payable September 1, 2026 to holders of record on August 18, 2026.
Management upgraded OPtiMa cost-savings targets to $100 million annually by 2028 and reaffirmed full-year 2026 guidance for revenue of $2.50–$2.55 billion, Adjusted EBITDA of $1.16–$1.19 billion, cash from operations of ~$(900) million/$750 million including/excluding the Lotto payment, and CapEx of $450–$475 million.
Positive
- Income from continuing operations swung to $56 million in Q2 2026 from a $60 million loss a year earlier, while Adjusted EBITDA increased 4% to $286 million and margin expanded to 48.9%.
- The company reaffirmed 2026 guidance, targeting revenue of $2.50–$2.55 billion and Adjusted EBITDA of $1.16–$1.19 billion, and raised OPtiMa cost-savings goals to $100 million annually by 2028.
Negative
- Revenue declined 7% year-over-year to $584 million (8% at constant currency), and Q2 free cash flow was $(1,461) million, largely reflecting the $1.67 billion Italy Lotto license payment.
- Operating cash flow from continuing operations deteriorated from $288 million in Q2 2025 to $(1,340) million in Q2 2026, while cash and equivalents fell to $558 million from $1,309 million a year earlier.
Filing Explained
The completed April payment is reflected in negative first-half cash flow and higher net debt than at December 31.
The August 4 Form 6-K, an interim report for a foreign private issuer, reports the final Italy Lotto license payment as made in April; the immediate structural consequence is a lower cash position and higher net debt after that payment.
Against the release's “significant cash flow generation” characterization, the six months ended June 30 produced negative
The release also describes a “strong balance sheet and credit profile”; however, June 30 cash was lower than
Key Figures
Q2 2026 Revenue: $584 million
Income from Continuing Operations: $56 million
Adjusted EBITDA: $286 million
+5 more
8 metrics
Q2 2026 Revenue
$584 million
Revenue from continuing operations for the quarter ended June 30, 2026
Income from Continuing Operations
$56 million
Q2 2026 vs a loss of $60 million in Q2 2025
Adjusted EBITDA
$286 million
Q2 2026 non-GAAP Adjusted EBITDA, up 4% year-over-year
Free Cash Flow
$(1,461) million
Q2 2026 free cash flow from continuing operations
Italy Lotto License Payment
$1.67 billion
Final license payment made in April 2026; BRSL share $1.03 billion
Net Debt
$3.791 billion
Net debt as of June 30, 2026 with net debt leverage of 3.24x
Quarterly Dividend
$0.23 per share
Cash dividend payable September 1, 2026 to holders of record August 18, 2026
2026 Revenue Guidance
$2.50–$2.55 billion
Reaffirmed full-year 2026 total revenue outlook
Key Terms
Adjusted EBITDA, same-store sales, free cash flow, upfront license fee amortization, +2 more
6 terms
Adjusted EBITDA financial
"Adjusted EBITDA of $286 million rose 4% on same-store sales flow through"
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
same-store sales financial
"Better-than-expected second quarter profits were driven by global same-store sales expansion"
Same-store sales measure the revenue generated by stores that have been open for a certain period, typically a year, comparing their sales over different time frames. It helps assess whether a business is growing due to increased customer activity at existing locations rather than new stores. For investors, this figure indicates the health and performance of a company's core operations, independent of expansion efforts.
free cash flow financial
"Free cash flow (1,461) | | 190 | NM |"
Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.
upfront license fee amortization financial
"Service revenue (includes amortization of upfront license fees)"
An upfront license fee amortization is the process of spreading the cost of a one-time payment for a license (such as rights to use technology, intellectual property, or a product) across the period the license covers. It matters to investors because it changes how costs and profits appear over time—like paying for a multi-year gym membership up front but recording one month’s portion as an expense each month—affecting reported earnings, margins, and cash-versus-profit comparisons.
net debt leverage financial
"Q2’26 Net debt leverage* 3.24x"
Net debt leverage measures how many years it would take a company to pay off its debt using its normal operating earnings after subtracting cash on hand; mathematically it's the company’s total debt minus cash divided by its annual operating cash profit. Think of it like comparing a household’s mortgage balance (after savings) to its yearly take-home pay — higher numbers mean more financial strain and greater risk to investors, while lower numbers suggest more capacity to weather trouble or borrow for growth.
OPtiMa cost savings financial
"OPtiMa savings, which are upgraded to $100 million by 2028"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
How did Brightstar Lottery PLC (BRSL) perform financially in Q2 2026?
Brightstar Lottery PLC reported Q2 2026 revenue of $584 million, down from $631 million in 2025. Income from continuing operations was $56 million versus a $60 million loss a year earlier, and Adjusted EBITDA rose to $286 million, a 4% increase.
How did cash flow and debt metrics look for Brightstar Lottery PLC (BRSL) in Q2 2026?
Net cash from operating activities from continuing operations was $(1,340) million, and free cash flow was $(1,461) million, largely due to the Italy Lotto license payment. Net debt was $3.79 billion, with net debt leverage of 3.24x and liquidity of $1.7 billion.
What 2026 outlook did Brightstar Lottery PLC (BRSL) reaffirm?
For 2026, the company reaffirmed revenue guidance of $2.50–$2.55 billion and Adjusted EBITDA of $1.16–$1.19 billion. It projects cash from operations of about $(900) million/$750 million including/excluding the Lotto payment and CapEx of $450–$475 million.
What is Brightstar Lottery PLC (BRSL)’s OPtiMa cost-savings plan?
Brightstar increased its OPtiMa cost-savings target to ~$100 million in annual gross savings by 2028 versus 2024 levels. The program includes back-office optimization, technology modernization, and management-layer reductions, while aiming not to affect customer-facing service standards.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE
SECURITIES EXCHANGE ACT OF 1934
For the month of August 2026
Commission File Number 001-36906
BRIGHTSTAR LOTTERY PLC
(Translation of registrant’s name into English)
2 and 3 Eldon Street, Fifth Floor
London EC2M 7LS
United Kingdom
(Address of principal executive offices)
| Indicate by checkmark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: | |||||||||||
| Form 20-F | ☒ | Form 40-F | ☐ | ||||||||
Second Quarter 2026 Results of Brightstar Lottery PLC
On August 4, 2026, Brightstar Lottery PLC (NYSE: BRSL) (the "Company") reported results for the quarter ended June 30, 2026.
On August 4, 2026, the Company also announced that the Board of Directors declared a quarterly cash dividend of $0.23 per share on its ordinary shares. The dividend is payable on September 1, 2026 to holders of record as of the close of business on August 18, 2026.
A copy of the news release relating to the above matters is set forth in Exhibit 99.1, which is being furnished herewith. In addition, a slide presentation relating to the results is set forth in Exhibit 99.2, which is being furnished herewith.
Exhibit Number | Description | |||||||
99.1 | News Release "Brightstar Lottery PLC Reports Second Quarter 2026 Results" dated August 4, 2026 | |||||||
99.2 | Presentation "Brightstar Lottery PLC 2026 Q2 Earnings Report Period Ended June 30, 2026" dated August 4, 2026 | |||||||
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EXHIBIT INDEX
Exhibit Number | Description | |||||||
99.1 | News Release "Brightstar Lottery PLC Reports Second Quarter 2026 Results" dated August 4, 2026 | |||||||
99.2 | Presentation "Brightstar Lottery PLC 2026 Q2 Earnings Report Period Ended June 30, 2026" dated August 4, 2026 | |||||||
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Date: August 4, 2026 | BRIGHTSTAR LOTTERY PLC | |||||||
| By: | /s/ Pierfrancesco Boccia | |||||||
| Pierfrancesco Boccia | ||||||||
| Corporate Secretary | ||||||||
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NEWS RELEASE
BRIGHTSTAR LOTTERY PLC REPORTS
SECOND QUARTER 2026 RESULTS
•Revenue of $584 million reflects sustained growth in global lottery same-store sales offset by higher service revenue amortization and U.K. contract transition
•Income from continuing operations of $56 million; better-than-expected Adjusted EBITDA of $286 million rose 4% on same-store sales flow through and disciplined operational management, including OPtiMa savings, which are upgraded to $100 million by 2028
•Significant cash flow generation in the first half helped fund final Italy Lotto license payment; Company maintains strong balance sheet and credit profile
•Continued commitment to shareholder returns with over $140 million deployed year-to-date
•Reaffirming 2026 revenue, profit, and cash flow outlook
LONDON – August 4, 2026 – Brightstar Lottery PLC (NYSE:BRSL) (“Brightstar” or the "Company") today reported financial results for the second quarter ended June 30, 2026. Today, at 8:00 a.m. EDT, management will host a conference call and webcast to present the results; access details are provided below.
“Better-than-expected second quarter profits were driven by global same-store sales expansion and disciplined operational management, even as we invest in long-term growth initiatives,” said Vince Sadusky, CEO of Brightstar. “We achieved several important milestones with our Italy B2C expansion efforts, and global iLottery wagers continue to grow at a double-digit pace. With the final Italy Lotto license payment behind us, revenue, profit, and cash flow are poised to inflect.”
“Cash generation was strong in the first half of the year, funding important investments in the business,” said Max Chiara, CFO of Brightstar. “We’re increasing our OPtiMa cost savings target to $100 million by 2028 as we further optimize our organization and operations. The strength of our balance sheet and financial condition supports our balanced approach to capital allocation, which included returning $140 million to shareholders in the year-to-date period.”
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Overview of Consolidated Second Quarter 2026 Results
| Quarter Ended | Y/Y Change | Constant Currency Change | |||||||||||||||
| All amounts from continuing operations | June 30, | ||||||||||||||||
| 2026 | 2025 | ||||||||||||||||
($ in millions, except per share data) | |||||||||||||||||
| GAAP Financials: | |||||||||||||||||
| Revenue | 584 | 631 | (7)% | (8)% | |||||||||||||
| Income (loss) from continuing operations | 56 | (60) | NM | ||||||||||||||
| Income (loss) from continuing operations margin | 9.6% | (9.5)% | |||||||||||||||
| Earnings per share - diluted | $0.18 | $(0.47) | NM | ||||||||||||||
| Net cash (used in) provided by operating activities | (1,340) | 288 | NM | ||||||||||||||
| Cash and cash equivalents | 558 | 1,309 | (57)% | ||||||||||||||
| Non-GAAP Financial Measures: | |||||||||||||||||
| Adjusted EBITDA | 286 | 274 | 4% | 3% | |||||||||||||
| Adjusted EBITDA margin | 48.9% | 43.5% | |||||||||||||||
| Adjusted earnings per share - diluted | $0.11 | $0.12 | (8)% | ||||||||||||||
| Free cash flow | (1,461) | 190 | NM | ||||||||||||||
| Net debt | 3,791 | 5,240 | (28)% | ||||||||||||||
Note: Reconciliations of non-GAAP financial measures to the most directly comparable GAAP financial measures, and other disclosures
regarding non-GAAP financial measures, are provided at the end of this news release
Financial Highlights
Revenue of $584 million, down 7% from $631 million in the prior year
•Key drivers of growth include:
•1.5% global same-store sales growth and positive mix in the U.S.
•Italy B2C digital growth
•Offsets to growth include:
•Higher service revenue amortization related to Italy Lotto license
•U.K. service contract transition
•Lower product sales
Income from continuing operations was $56 million compared to a loss of $60 million in the prior-year period, primarily resulting from:
•Items listed as drivers of growth and offsets to growth in Adjusted EBITDA below
•Lower restructuring charges than the prior year
•Non-cash impact of fluctuations in the EUR/USD exchange rate on Parent company debt balances
•Reduced provision for income taxes, primarily attributable to lower valuation allowances and benefit of a discrete tax item
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Adjusted EBITDA increased 4% to $286 million versus $274 million in the prior-year period
•Key drivers of growth include:
•Profit flow-through of same-store sales growth
•OPtiMa cost efficiencies and General & administrative expense recoveries
•Partial offsets to growth include:
•Investments in growth initiatives
•U.K. service contract transition
Diluted income per share from continuing operations was $0.18 compared to diluted loss per share from continuing operations of $0.47 in the prior year.
•Adjusted diluted earnings per share from continuing operations was $0.11 compared to adjusted diluted income per share from continuing operations of $0.12 in the prior year.
•Adjusted diluted earnings per share from continuing operations includes $43 million ($0.23 per share) of Brightstar's portion, net of tax, of service revenue amortization compared to $23 million ($0.11 per share) in 2025.
Net debt was $3.8 billion compared to $2.7 billion at December 31, 2025, reflecting the final Italy Lotto payment. Net debt leverage was 3.24x.
Cash and Liquidity Update
Total liquidity was $1.7 billion as of June 30, 2026, including approximately $0.6 billion in unrestricted cash and $1.2 billion in additional borrowing capacity from undrawn credit facilities.
Other Developments
The Company's Board of Directors declared a quarterly cash dividend of $0.23 per common share, with a record date of August 18, 2026 and a payment date of September 1, 2026.
The Company has initiated a third phase of OPtiMa 3.0, a multi-year program (“OPtiMa 3.3”). OPtiMa 3.3 is focused on changes to the management structure, including a reduction in executive and other senior leadership layers, the consolidation of similar functions, the ceasing of certain consulting arrangements, and the optimization of the global real estate footprint. The plan is expected to be substantially complete within one year. Total restructuring costs associated with OPtiMa 3.3 are expected to be $15-$20 million, including $8 million recorded in the second quarter. OPtiMa 3.3 is expected to generate annualized cost savings of approximately $20 million upon completion.
The final Italy Lotto license payment of €1.43 billion or $1.67 billion was made in April 2026.
Financial Outlook
Reaffirming FY’26 revenue, profit, and cash flow outlook, including the below expectations:
•Revenue of $2.50 - $2.55 billion
•Includes more than five percent organic growth; approximately $175 million in incremental Italy Lotto-related service revenue amortization impacts reported growth
•Adjusted EBITDA of $1.16 - $1.19 billion; revenue growth and OPtiMa savings expected to more than offset approximately $50 million of investments in growth initiatives
•Net cash used in operating activities of approximately $900 million includes €1.43 billion or $1.67 billion related to final Italy Lotto license payment; approximately $750 million in cash from operations excluding Italy Lotto license payment
•Capital expenditures of approximately $450 million - $475 million reflects contractual obligations related to recent contract wins and extensions
Earnings Conference Call and Webcast
August 4, 2026, at 8:00 a.m. EDT
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To register to participate in the conference call, or to listen to the live audio webcast, please visit the "Events Calendar" on Brightstar’s Investor Relations website at www.brightstarlottery.com. A replay will be available on the website following the live event.
Comparability of Results
All figures presented in this news release are prepared under U.S. GAAP, unless noted otherwise. Amounts reported in millions are computed based on amounts in thousands. As a result, the sum of the components may not equal the total amount reported in millions due to rounding. Certain columns and rows within tables may not add due to the use of rounded numbers. Percentages and earnings per share amounts presented are calculated from the underlying unrounded amounts.
About Brightstar Lottery PLC
Brightstar Lottery PLC (NYSE: BRSL) is a global leader in lottery focused on innovation and forward-thinking strategies and solutions, building on our renowned expertise in delivering secure technology and producing reliable, comprehensive solutions for our customers. As a premier pure play global lottery company, our best-in-class lottery operations, retail and digital solutions, and award-winning lottery games enable our customers to achieve their goals, entertain players and distribute meaningful benefits to communities. Brightstar has a well-established local presence and is a trusted partner to governments and regulators around the world, creating value by adhering to the highest standards of service, integrity, and responsibility. Brightstar serves nearly 90 lottery customers and their players on six continents. It is the primary technology provider to 26 of the 46 lottery jurisdictions in the U.S. and eight of the world’s 10 largest lotteries with central systems. Brightstar has approximately 6,000 employees. For more information, please visit www.brightstarlottery.com.
Cautionary Statement Regarding Forward-Looking Statements
This release contains forward‑looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward‑looking statements include, but are not limited to, statements regarding Brightstar Lottery PLC’s (the “Company”) future financial and operating performance, strategic priorities and initiatives, business development, capital allocation, liquidity and leverage profile, contract opportunities, digital and iLottery expansion, product development, regulatory matters, and market opportunities. Forward‑looking statements include, without limitation, statements regarding expected or reaffirmed FY’26 revenue, Adjusted EBITDA, cash from operations, net cash used in operating activities, capital expenditures, organic growth expectations, as well as assumptions underlying such guidance, anticipated product sales trends, expected benefits from OPtiMa cost‑savings initiatives, anticipated investments in growth initiatives, expected timing and execution of launches and expansions, anticipated shareholder returns, refinancing activities, and pro forma leverage and liquidity metrics. Forward‑looking statements may be identified by words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “may,” “will,” “target,” “project,” “on track,” “reaffirm,” or similar expressions. These statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially. Such risks and uncertainties include, among others: changes in economic, competitive, regulatory, and political conditions; risks related to contract awards, renewals, and execution; reliance on regulatory approvals and timing; risks associated with digital execution, technology initiatives, and product development; inflationary pressures; interest rate and foreign exchange volatility; changes in consumer behavior; capital market conditions; and the risk factors described in the Company’s most recent Annual Report on Form 20‑F and other filings with the SEC. Forward‑looking statements speak only as of the date they are made. Except as required by law, the Company undertakes no obligation to update or revise any forward‑looking statements, whether as a result of new information, future events, or otherwise. Nothing in this release should be relied upon as a guarantee of future performance.
Non-GAAP Financial Measures
Management supplements the reporting of financial information, determined under GAAP, with certain non-GAAP financial information. Management believes the non-GAAP information presented provides investors with additional useful information, but it is not intended to, nor should it be considered in isolation or as a substitute for the related GAAP measures. Moreover, other companies may define non-GAAP measures differently, which limits the usefulness of these measures for comparisons with such
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other companies. The Company encourages investors to review its financial statements and publicly filed reports in their entirety and not to rely on any single financial measure.
Adjusted EBIT represents net income (loss) from continuing operations (a GAAP measure) before income taxes, interest expense, net, foreign exchange gain (loss), net, other expenses (e.g., gains/losses on extinguishment and modifications of debt, etc.), net, impairment losses, restructuring expenses, stock-based compensation, litigation expense (income), and certain other non-recurring items. Other non-recurring items are infrequent in nature and are not reflective of ongoing operational activities. Management believes that Adjusted EBIT is useful in providing period-to-period comparisons of the results of the Company's ongoing operational performance.
Adjusted EBIT margin represents Adjusted EBIT divided by revenue.
Adjusted EBITDA represents net income (loss) from continuing operations (a GAAP measure) before income taxes, interest expense, net, foreign exchange gain (loss), net, other expenses (e.g., gains/losses on extinguishment and modifications of debt, etc.), net, depreciation, impairment losses, amortization (service revenue, purchase accounting, and non-purchase accounting), restructuring expenses, stock-based compensation, litigation expense (income), and certain other non-recurring items. Other non-recurring items are infrequent in nature and are not reflective of ongoing operational activities. Management believes that Adjusted EBITDA is useful in providing period-to-period comparisons of the results of the Company's ongoing operational performance.
Adjusted EBITDA margin represents Adjusted EBITDA divided by revenue.
Adjusted EPS represents diluted earnings per share (a GAAP measure), excluding the effects of foreign exchange, impairments, amortization from purchase accounting, discrete tax items, and other significant non-recurring adjustments that are not reflective of on-going operational activities (e.g., gains/losses on sale of business, gains/losses on extinguishment and modifications of debt, etc.). Adjusted EPS is calculated using diluted weighted-average number of shares outstanding, including the impact of any potentially dilutive common stock equivalents that are anti-dilutive to GAAP net income (loss) per share but dilutive to Adjusted EPS. Management believes that Adjusted EPS is useful in providing period-to-period comparisons of the results of the Company's ongoing operational performance.
Net debt is a non-GAAP financial measure that represents debt (a GAAP measure, calculated as long-term obligations plus short-term borrowings) minus capitalized debt issuance costs and cash and cash equivalents, including cash and cash equivalents classified as held for sale. Cash and cash equivalents, including cash and cash equivalents held for sale, are subtracted from the GAAP measure because they could be used to reduce the Company’s debt obligations. Management believes that net debt is a useful measure to monitor leverage and evaluate the balance sheet.
Net debt leverage is a non-GAAP financial measure that represents the ratio of Net debt as of a particular balance sheet date to Adjusted EBITDA for the last twelve months prior to such date. Management believes that net debt leverage is a useful measure to assess Brightstar's financial strength and ability to incur incremental indebtedness when making key investment decisions.
Free cash flow is a non-GAAP financial measure that represents cash flow from operations (a GAAP measure) less capital expenditures. Management believes free cash flow is a useful measure of liquidity and an additional basis for assessing Brightstar’s ability to fund its activities, including debt service and distribution of earnings to shareholders.
Constant currency is a non-GAAP adjustment to certain financial measures that expresses current financial data using the prior-year/period exchange rate (i.e., the exchange rate used in preparing the financial statements for the prior year). Management believes that constant currency is a useful measure to compare period-to-period results without regard to the impact of fluctuating foreign currency exchange rates.
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A reconciliation of the non-GAAP measures to the corresponding amounts prepared in accordance with GAAP appears in the tables in this release. The tables provide additional information as to the items and amounts that have been excluded from the adjusted measures.
The Company provides guidance of select information related to its financial and operating performance, and such measures may differ from year to year. The guidance is only an estimate of what the Company believes is realizable as of the date of this release. Actual results may vary from the guidance and the variations may be material. The Company undertakes no intent or obligation to publicly update or revise any of these projections, whether as a result of new information, future events or otherwise, except as required by law.
A reconciliation of the Company's forward-looking non-GAAP financial measures to the most directly comparable GAAP financial measure cannot be provided without unreasonable effort. This is due to the inherent difficulty of accurately forecasting the occurrence and financial impact of the adjusting items necessary for such a reconciliation to be prepared, for example, the provision for income taxes or net foreign exchange gain/loss, as such items have not yet occurred, are out of the Company's control, or cannot be reasonably predicted.
Contact
Mike DeAngelis, Corporate Communications, +1 (401) 392-1000, mike.deangelis@brightstarlottery.com
Matteo Selva, Italian media inquiries, +39 366 6803635
James Hurley, Investor Relations, +1 (401) 392-7190
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Select Performance and KPI data ($ in millions, unless otherwise noted)
| Constant | |||||||||||||||||||||||||||||
| Q2'26 | Q2'25 | Y/Y | Currency | ||||||||||||||||||||||||||
| Revenue | Change | Change(1) | |||||||||||||||||||||||||||
| Service | |||||||||||||||||||||||||||||
| Instant ticket & draw wager-based revenue | 517 | 516 | —% | (1)% | |||||||||||||||||||||||||
| U.S. multi-state jackpot wager-based revenue | 17 | 15 | 14% | 14% | |||||||||||||||||||||||||
| Upfront license fee amortization | (100) | (53) | NM | NM | |||||||||||||||||||||||||
| Other | 116 | 110 | 5% | 5% | |||||||||||||||||||||||||
| Total service revenue | 550 | 588 | (6)% | (7)% | |||||||||||||||||||||||||
| Product sales | 34 | 42 | (20)% | (20)% | |||||||||||||||||||||||||
| Total revenue | 584 | 631 | (7)% | (8)% | |||||||||||||||||||||||||
| Income (loss) from continuing operations | 56 | (60) | NM | ||||||||||||||||||||||||||
Adjusted EBIT(1) | 128 | 168 | (24)% | (25)% | |||||||||||||||||||||||||
Adjusted EBITDA(1) | 286 | 274 | 4% | 3% | |||||||||||||||||||||||||
Same-store sales growth (%) at constant currency (wager-based growth) (2) | |||||||||||||||||||||||||||||
| Global | |||||||||||||||||||||||||||||
| Instant ticket & draw games | 1.1 | % | 2.6 | % | |||||||||||||||||||||||||
| U.S. multi-state jackpots | 11.1 | % | (34.5)% | ||||||||||||||||||||||||||
| Total | 1.5 | % | 0.3 | % | |||||||||||||||||||||||||
| U.S. | |||||||||||||||||||||||||||||
| Instant ticket & draw games | 0.4 | % | 0.6 | % | |||||||||||||||||||||||||
| U.S. multi-state jackpots | 11.1 | % | (34.5)% | ||||||||||||||||||||||||||
| Total | 1.1 | % | (2.7)% | ||||||||||||||||||||||||||
| Italy | |||||||||||||||||||||||||||||
| Instant ticket & draw games | 1.5 | % | 3.7 | % | |||||||||||||||||||||||||
| Rest of world | |||||||||||||||||||||||||||||
| Instant ticket & draw games | 5.2 | % | 8.4 | % | |||||||||||||||||||||||||
(1) Non-GAAP measure; see disclaimer on page 4 and reconciliations to the most directly comparable GAAP measure in Appendix for further details | |||||||||||||||||||||||||||||
(2) Same-store sales represents the change in wagers recorded in lottery jurisdictions where Brightstar is the operator or facilities management supplier, using the same lottery jurisdictions and perimeter for comparisons between periods | |||||||||||||||||||||||||||||
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| Constant | |||||||||||||||||||||||||||||
| Q2'26 | Q2'25 | Y/Y | Currency | ||||||||||||||||||||||||||
| Change | Change(1) | ||||||||||||||||||||||||||||
Same-store revenue growth (%) at constant currency (Same-store sales inclusive of contract mix) (2) | |||||||||||||||||||||||||||||
| Global | |||||||||||||||||||||||||||||
| Instant ticket & draw games | 2.2% | 2.5% | |||||||||||||||||||||||||||
| U.S. multi-state jackpots | 13.9% | (34.9)% | |||||||||||||||||||||||||||
| Total | 2.6% | 0.9% | |||||||||||||||||||||||||||
| U.S. | |||||||||||||||||||||||||||||
| Instant ticket & draw games | 4.0% | (0.6)% | |||||||||||||||||||||||||||
| U.S. multi-state jackpots | 13.9% | (34.9)% | |||||||||||||||||||||||||||
| Total | 4.7% | (4.3)% | |||||||||||||||||||||||||||
| Italy | |||||||||||||||||||||||||||||
| Instant ticket & draw games | 1.0% | 3.6% | |||||||||||||||||||||||||||
| Rest of world | |||||||||||||||||||||||||||||
| Instant ticket & draw games | 2.5% | 9.1% | |||||||||||||||||||||||||||
| Revenue (by geography) | |||||||||||||||||||||||||||||
| U.S. & Canada | 286 | 293 | (2)% | (2)% | |||||||||||||||||||||||||
| Italy | 221 | 259 | (15)% | (15)% | |||||||||||||||||||||||||
| Rest of world | 77 | 79 | (2)% | (4)% | |||||||||||||||||||||||||
| Total revenue | 584 | 631 | (7)% | (8)% | |||||||||||||||||||||||||
(1) Non-GAAP measure; see disclaimer on page 4 and reconciliations to the most directly comparable GAAP measure in Appendix for further details | |||||||||||||||||||||||||||||
(2) Same-store revenue represents the change in same-store sales net of contract mix | |||||||||||||||||||||||||||||
8
| Brightstar Lottery PLC | |||||||||||||||||||||||
| Condensed Consolidated Statements of Operations | |||||||||||||||||||||||
| ($ and shares in millions, except per share amounts) | |||||||||||||||||||||||
| Unaudited | |||||||||||||||||||||||
| For the three months ended | For the six months ended | ||||||||||||||||||||||
| June 30, | June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Service revenue (includes amortization of upfront license fees) | 550 | 588 | 1,108 | 1,146 | |||||||||||||||||||
| Product sales | 34 | 42 | 63 | 68 | |||||||||||||||||||
| Total revenue | 584 | 631 | 1,171 | 1,214 | |||||||||||||||||||
| Cost of services (excluding Depreciation and amortization) | 285 | 279 | 576 | 543 | |||||||||||||||||||
| Cost of product sales (excluding Depreciation and amortization) | 25 | 34 | 48 | 54 | |||||||||||||||||||
| General and administrative | 49 | 58 | 94 | 120 | |||||||||||||||||||
| Research and development | 14 | 12 | 29 | 22 | |||||||||||||||||||
| Sales and marketing | 32 | 30 | 66 | 63 | |||||||||||||||||||
| Depreciation and amortization | 58 | 54 | 111 | 108 | |||||||||||||||||||
| Restructuring | 6 | 21 | 6 | 21 | |||||||||||||||||||
| Interest expense, net | 49 | 49 | 92 | 94 | |||||||||||||||||||
| Foreign exchange (gain) loss, net | (4) | 99 | (16) | 131 | |||||||||||||||||||
| Other expense, net | 6 | 5 | 10 | 11 | |||||||||||||||||||
| Income (loss) before provision for income taxes | 63 | (10) | 155 | 46 | |||||||||||||||||||
| Provision for income taxes | 7 | 50 | 36 | 97 | |||||||||||||||||||
| Income (loss) from continuing operations | 56 | (60) | 119 | (52) | |||||||||||||||||||
| Less: Net income attributable to non-controlling interests from continuing operations | 23 | 36 | 49 | 67 | |||||||||||||||||||
| Net income (loss) from continuing operations attributable to Brightstar Lottery PLC | 33 | (96) | 70 | (119) | |||||||||||||||||||
| Income from discontinued operations | — | 40 | — | 92 | |||||||||||||||||||
| Less: Net income attributable to non-controlling interests from discontinued operations | — | 2 | — | 4 | |||||||||||||||||||
| Net income from discontinued operations attributable to Brightstar Lottery PLC | — | 38 | — | 88 | |||||||||||||||||||
| Net income (loss) | 56 | (20) | 119 | 40 | |||||||||||||||||||
| Net income attributable to non-controlling interests | 23 | 38 | 49 | 71 | |||||||||||||||||||
| Net income (loss) attributable to Brightstar Lottery PLC | 33 | (58) | 70 | (31) | |||||||||||||||||||
| Per Share Data | |||||||||||||||||||||||
| Basic: Net income (loss) from continuing operations attributable to Brightstar Lottery PLC | 0.18 | (0.47) | 0.38 | (0.59) | |||||||||||||||||||
| Diluted: Net income (loss) from continuing operations attributable to Brightstar Lottery PLC | 0.18 | (0.47) | 0.37 | (0.59) | |||||||||||||||||||
| Basic: Net income (loss) attributable to Brightstar Lottery PLC | 0.18 | (0.29) | 0.38 | (0.15) | |||||||||||||||||||
| Diluted: Net income (loss) attributable to Brightstar Lottery PLC | 0.18 | (0.29) | 0.37 | (0.15) | |||||||||||||||||||
| Weighted-average Shares Outstanding | |||||||||||||||||||||||
| Basic | 185 | 203 | 185 | 203 | |||||||||||||||||||
| Diluted | 186 | 203 | 187 | 203 | |||||||||||||||||||
9
| Brightstar Lottery PLC | ||||||||||||||
| Condensed Consolidated Balance Sheets | ||||||||||||||
| ($ in millions) | ||||||||||||||
| Unaudited | ||||||||||||||
| June 30, | December 31, | |||||||||||||
| 2026 | 2025 | |||||||||||||
| Assets | ||||||||||||||
| Current assets: | ||||||||||||||
| Cash and cash equivalents | 558 | 1,446 | ||||||||||||
| Restricted cash and cash equivalents | 21 | 54 | ||||||||||||
| Trade and other receivables, net | 466 | 526 | ||||||||||||
| Inventories, net | 132 | 116 | ||||||||||||
| Other current assets | 186 | 193 | ||||||||||||
| Total current assets | 1,363 | 2,336 | ||||||||||||
| Systems, equipment and other assets related to contracts, net | 755 | 678 | ||||||||||||
| Property, plant and equipment, net | 92 | 90 | ||||||||||||
| Operating lease right-of-use assets | 92 | 92 | ||||||||||||
| Goodwill | 2,692 | 2,707 | ||||||||||||
| Intangible assets, net | 127 | 125 | ||||||||||||
| Other non-current assets | 2,915 | 3,130 | ||||||||||||
| Total non-current assets | 6,672 | 6,822 | ||||||||||||
| Total assets | 8,035 | 9,158 | ||||||||||||
| Liabilities and shareholders' equity | ||||||||||||||
| Liabilities | ||||||||||||||
| Current liabilities: | ||||||||||||||
| Accounts payable | 687 | 766 | ||||||||||||
| Current portion of long-term debt | — | 118 | ||||||||||||
| Payable to ADM | — | 1,680 | ||||||||||||
| Other current liabilities | 550 | 508 | ||||||||||||
| Total current liabilities | 1,237 | 3,072 | ||||||||||||
| Long-term debt, less current portion | 4,354 | 4,060 | ||||||||||||
| Deferred income taxes | 192 | 208 | ||||||||||||
| Operating lease liabilities | 71 | 72 | ||||||||||||
| Other non-current liabilities | 161 | 156 | ||||||||||||
| Total non-current liabilities | 4,778 | 4,496 | ||||||||||||
| Total liabilities | 6,015 | 7,568 | ||||||||||||
| Shareholders' Equity | ||||||||||||||
| Brightstar Lottery PLC’s shareholders’ equity | 846 | 875 | ||||||||||||
| Non-controlling interests | 1,173 | 715 | ||||||||||||
| Total shareholders’ equity | 2,020 | 1,590 | ||||||||||||
| Total liabilities and shareholders’ equity | 8,035 | 9,158 | ||||||||||||
10
| Brightstar Lottery PLC | |||||||||||||||||||||||
| Condensed Consolidated Statements of Cash Flows | |||||||||||||||||||||||
| ($ in millions) | |||||||||||||||||||||||
| Unaudited | |||||||||||||||||||||||
| For the three months ended | For the six months ended | ||||||||||||||||||||||
| June 30, | June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Cash flows from operating activities | |||||||||||||||||||||||
| Net income (loss) | 56 | (20) | 119 | 40 | |||||||||||||||||||
| Less: Income from discontinued operations, net of tax | — | 40 | — | 92 | |||||||||||||||||||
| Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities from continuing operations: | |||||||||||||||||||||||
| Amortization of upfront license fees | 100 | 53 | 201 | 101 | |||||||||||||||||||
| Depreciation & amortization | 58 | 54 | 111 | 108 | |||||||||||||||||||
| Stock-based compensation | 7 | 5 | 14 | 12 | |||||||||||||||||||
| Foreign exchange (gain) loss, net | (4) | 99 | (16) | 131 | |||||||||||||||||||
| Deferred income taxes | (5) | (6) | (11) | (24) | |||||||||||||||||||
| Other non-cash items, net | 3 | 10 | 5 | 16 | |||||||||||||||||||
| Changes in operating assets and liabilities, excluding the effects of dispositions: | |||||||||||||||||||||||
| Trade and other receivables | 91 | 27 | 48 | 78 | |||||||||||||||||||
| Inventories | (7) | (8) | (16) | (6) | |||||||||||||||||||
| Accounts payable | (29) | 1 | (34) | (38) | |||||||||||||||||||
| Accrued interest payable | 31 | 32 | 28 | 7 | |||||||||||||||||||
| Accrued income taxes | 1 | 33 | 31 | 89 | |||||||||||||||||||
| Italian Lotto License payment | (1,675) | — | (1,675) | — | |||||||||||||||||||
| Other assets and liabilities | 32 | 48 | 21 | 50 | |||||||||||||||||||
| Net cash (used in) provided by operating activities from continuing operations | (1,340) | 288 | (1,174) | 473 | |||||||||||||||||||
| Net cash provided by operating activities from discontinued operations | — | 45 | — | 101 | |||||||||||||||||||
| Net cash (used in) provided by operating activities | (1,340) | 334 | (1,174) | 574 | |||||||||||||||||||
| Cash flows from investing activities | |||||||||||||||||||||||
| Capital expenditures | (121) | (98) | (232) | (174) | |||||||||||||||||||
| Other | (2) | 1 | (2) | (1) | |||||||||||||||||||
| Net cash (used in) investing activities from continuing operations | (123) | (97) | (233) | (175) | |||||||||||||||||||
| Net cash (used in) provided by investing activities from discontinued operations | — | (46) | 24 | (85) | |||||||||||||||||||
| Net cash (used in) investing activities | (123) | (143) | (209) | (260) | |||||||||||||||||||
| Cash flows from financing activities | |||||||||||||||||||||||
| Net proceeds from (repayments of) Revolving Credit Facilities | 623 | 24 | 623 | (105) | |||||||||||||||||||
| Proceeds from long-term debt | — | 572 | — | 1,112 | |||||||||||||||||||
| Net payments on financial liabilities | (4) | (3) | (69) | (81) | |||||||||||||||||||
| Principal payments on long-term debt | (233) | — | (350) | (208) | |||||||||||||||||||
| Repurchases of common stock | (14) | — | (45) | — | |||||||||||||||||||
| Net (repayment of) funds payable and amounts due to others | (4) | (24) | (34) | (40) | |||||||||||||||||||
| Dividends paid | (43) | (41) | (85) | (81) | |||||||||||||||||||
| Dividends paid - non-controlling interests | (163) | (152) | (163) | (163) | |||||||||||||||||||
| Return of capital - non-controlling interests | (28) | (47) | (31) | (47) | |||||||||||||||||||
| Capital increase - non-controlling interests | 650 | 176 | 650 | 178 | |||||||||||||||||||
| Other | (20) | (2) | (24) | (23) | |||||||||||||||||||
| Net cash provided by financing activities from continuing operations | 764 | 503 | 472 | 541 | |||||||||||||||||||
| Net cash (used in) financing activities from discontinued operations | — | (10) | — | (143) | |||||||||||||||||||
| Net cash provided by financing activities | 764 | 493 | 472 | 398 | |||||||||||||||||||
| Net (decrease) increase in cash and cash equivalents and restricted cash and cash equivalents | (699) | 684 | (911) | 712 | |||||||||||||||||||
| Effect of exchange rate changes on cash and cash equivalents and restricted cash and cash equivalents | 4 | 39 | (10) | 58 | |||||||||||||||||||
| Cash and cash equivalents and restricted cash and cash equivalents at the beginning of the period | 1,274 | 823 | 1,500 | 775 | |||||||||||||||||||
| Cash and cash equivalents and restricted cash and cash equivalents at the end of the period | 579 | 1,546 | 579 | 1,546 | |||||||||||||||||||
| Less: Cash and cash equivalents and restricted cash and cash equivalents of discontinued operations | — | 144 | — | 144 | |||||||||||||||||||
| Cash and cash equivalents and restricted cash and cash equivalents at the end of the period of continuing operations | 579 | 1,401 | 579 | 1,401 | |||||||||||||||||||
| Supplemental disclosures of cash flow information for continuing operations: | |||||||||||||||||||||||
| Interest paid | 18 | 17 | 68 | 89 | |||||||||||||||||||
| Income taxes paid | 11 | 22 | 16 | 32 | |||||||||||||||||||
11
| Brightstar Lottery PLC | |||||||||||
| Net Debt | |||||||||||
| ($ in millions) | |||||||||||
| Unaudited | |||||||||||
| June 30, | December 31, | ||||||||||
| 2026 | 2025 | ||||||||||
| 2.375% Senior Secured Euro Notes due April 2028 | 568 | 586 | |||||||||
| 5.250% Senior Secured U.S. Dollar Notes due January 2029 | 747 | 747 | |||||||||
| 4.250% Senior Secured Euro Notes due March 2030 | 564 | 581 | |||||||||
| 5.750% Senior Secured U.S. Dollar Notes due January 2033 | 743 | 742 | |||||||||
| Senior Secured Notes | 2,623 | 2,657 | |||||||||
| Euro Term Loan Facilities due January 2027 | — | 234 | |||||||||
| Euro Term Loan Facilities due September 2030 | 1,135 | 1,169 | |||||||||
| Revolving Credit Facility A due March 2031 | — | — | |||||||||
| Revolving Credit Facility B due March 2031 | 597 | — | |||||||||
| Long-term debt, less current portion | 4,354 | 4,060 | |||||||||
| Euro Term Loan Facilities due January 2027 | — | 118 | |||||||||
| Current portion of long-term debt | — | 118 | |||||||||
| Total debt | 4,354 | 4,178 | |||||||||
| Less: Cash and cash equivalents | 558 | 1,446 | |||||||||
| Less: Debt issuance costs, net - Revolving Credit Facility A due July 2027 | 6 | 4 | |||||||||
| Less: Debt issuance costs, net - Revolving Credit Facility B due July 2027 | — | 4 | |||||||||
| Net debt | 3,791 | 2,723 | |||||||||
| Note: Net debt is a non-GAAP financial measure | |||||||||||
12
Brightstar Lottery PLC
Reconciliation of Non-GAAP Financial Measures
(Unaudited, $ in millions)
| For the three months ended June 30, | For the six months ended June 30, | |||||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||||||||||||
| Income (loss) from continuing operations | 56 | (60) | 119 | (52) | ||||||||||||||||||||||
| Provision for income taxes | 7 | 50 | 36 | 97 | ||||||||||||||||||||||
| Interest expense, net | 49 | 49 | 92 | 94 | ||||||||||||||||||||||
| Foreign exchange (gain) loss, net | (4) | 99 | (16) | 131 | ||||||||||||||||||||||
| Restructuring | 6 | 21 | 6 | 21 | ||||||||||||||||||||||
| Stock-based compensation | 7 | 5 | 14 | 12 | ||||||||||||||||||||||
| Other expense, net | 6 | 5 | 10 | 11 | ||||||||||||||||||||||
| Adjusted EBIT | 128 | 168 | 261 | 315 | ||||||||||||||||||||||
| Depreciation | 41 | 45 | 82 | 90 | ||||||||||||||||||||||
Amortization - service revenue (1) | 100 | 53 | 201 | 101 | ||||||||||||||||||||||
| Amortization - non-purchase accounting | 16 | 7 | 26 | 14 | ||||||||||||||||||||||
| Amortization - purchase accounting | 1 | 2 | 3 | 4 | ||||||||||||||||||||||
| Adjusted EBITDA | 286 | 274 | 573 | 524 | ||||||||||||||||||||||
| Cash flows from operating activities - continuing operations | (1,340) | 288 | (1,174) | 473 | ||||||||||||||||||||||
| Capital expenditures | (121) | (98) | (232) | (174) | ||||||||||||||||||||||
| Free Cash Flow | (1,461) | 190 | (1,406) | 299 | ||||||||||||||||||||||
(1) Includes amortization of upfront license fees | ||||||||||||||||||||||||||
13
Brightstar Lottery PLC
Reconciliation of Non-GAAP Financial Measures
(Unaudited)
| For the three months ended June 30, | For the six months ended June 30, | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pre-Tax Impact | Tax Impact (1) | Net Impact | Pre-Tax Impact | Tax Impact (1) | Net Impact | Pre-Tax Impact | Tax Impact (1) | Net Impact | Pre-Tax Impact | Tax Impact (1) | Net Impact | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Reported EPS from continuing operations attributable to Brightstar Lottery PLC - diluted | 0.18 | (0.47) | 0.37 | (0.59) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Adjustments: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Foreign exchange (gain) loss, net | (0.02) | — | (0.02) | 0.48 | (0.01) | 0.49 | (0.09) | — | (0.09) | 0.64 | (0.03) | 0.68 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Amortization - purchase accounting | 0.01 | — | 0.01 | 0.01 | — | 0.01 | 0.01 | — | 0.01 | 0.02 | — | 0.02 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Loss on the extinguishment of debt | 0.01 | — | 0.01 | — | — | — | 0.01 | — | 0.01 | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Discrete tax items | — | 0.09 | (0.09) | — | — | — | — | 0.09 | (0.09) | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Restructuring | 0.03 | 0.01 | 0.02 | 0.10 | 0.03 | 0.07 | 0.03 | 0.01 | 0.02 | 0.10 | 0.03 | 0.07 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other non-recurring adjustments | — | — | — | 0.01 | — | 0.01 | 0.01 | — | — | 0.03 | 0.01 | 0.02 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net adjustments | (0.07) | 0.59 | (0.13) | 0.79 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Adjusted EPS from continuing operations attributable to Brightstar Lottery PLC - diluted | 0.11 | 0.12 | 0.24 | 0.20 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Reported effective tax rate | 11.5 | % | (482.6) | % | 23.2 | % | 212.9 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Adjusted effective tax rate | 38.3 | % | 47.5 | % | 37.3 | % | 47.6 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Adjusted EPS weighted average shares outstanding (in millions) | 186 | (2) | 204 | (2) | 187 | (2) | 204 | (2) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(1) Calculated based on nature of item, including any realizable deductions, and statutory tax rate in effect for the relevant jurisdiction | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(2) Includes the dilutive impact of share-based payment awards | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
14
Q2 Earnings Report 2026: PERIOD ENDED JUNE 30, 2026
2 Cautionary Statement Regarding Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding Brightstar Lottery PLC’s (the “Company”) future financial and operating performance, strategic priorities and initiatives, business development, capital allocation, liquidity and leverage profile, contract opportunities, digital and iLottery expansion, product development, regulatory matters, and market opportunities. Forward-looking statements include, without limitation, statements regarding expected or reaffirmed FY’26 revenue, Adjusted EBITDA, cash from operations, net cash used in operating activities, capital expenditures, organic growth expectations, normalized free cash flows, as well as assumptions underlying such guidance, anticipated product sales trends, expected benefits from OPtiMa cost-savings initiatives, anticipated investments in growth initiatives, expected timing and execution of launches and expansions, anticipated shareholder returns, refinancing activities, and pro forma leverage and liquidity metrics. Forward-looking statements may be identified by words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “may,” “will,” “target,” “project,” “on track,” “reaffirm,” or similar expressions. These statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially. Such risks and uncertainties include, among others: changes in economic, competitive, regulatory, and political conditions; risks related to contract awards, renewals, and execution; reliance on regulatory approvals and timing; risks associated with digital execution, technology initiatives, and product development; inflationary pressures; interest rate and foreign exchange volatility; changes in consumer behavior; capital market conditions; and the risk factors described in the Company’s most recent Annual Report on Form 20-F and other filings with the SEC. Forward-looking statements speak only as of the date they are made. Except as required by law, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Nothing in this presentation constitutes a profit forecast or should be relied upon as a guarantee of future performance. Comparability of Results All figures presented in this presentation are prepared under U.S. GAAP, unless noted otherwise. Non-GAAP Financial Measures Management supplements the reporting of financial information, determined under GAAP, with certain non-GAAP financial information. Management believes the non-GAAP information presented provides investors with additional useful information, but it is not intended to, nor should it be considered in isolation or as a substitute for the related GAAP measures. Moreover, other companies may define non-GAAP measures differently, which limits the usefulness of these measures for comparisons with such other companies. The Company encourages investors to review its financial statements and publicly filed reports in their entirety and not to rely on any single financial measure. Adjusted EBIT represents net income (loss) from continuing operations (a GAAP measure) before income taxes, interest expense, net, foreign exchange gain (loss), net, other expenses (e.g., gains/losses on extinguishment and modifications of debt, etc.), net, impairment losses, restructuring expenses, stock-based compensation, litigation expense (income), and certain other non-recurring items. Other non-recurring items are infrequent in nature and are not reflective of ongoing operational activities. Management believes that Adjusted EBIT is useful in providing period-to-period comparisons of the results of the Company's ongoing operational performance. Adjusted EBIT margin represents Adjusted EBIT divided by revenue. Adjusted EBITDA represents net income (loss) from continuing operations (a GAAP measure) before income taxes, interest expense, net, foreign exchange gain (loss), net, other expenses (e.g., gains/losses on extinguishment and modifications of debt, etc.), net, depreciation, impairment losses, amortization (service revenue, purchase accounting, and non-purchase accounting), restructuring expenses, stock-based compensation, litigation expense (income), and certain other non-recurring items. Other non-recurring items are infrequent in nature and are not reflective of ongoing operational activities. Management believes that Adjusted EBITDA is useful in providing period-to-period comparisons of the results of the Company's ongoing operational performance. Adjusted EBITDA margin represents Adjusted EBITDA divided by revenue. Adjusted EPS represents diluted earnings per share (a GAAP measure), excluding the effects of foreign exchange, impairments, amortization from purchase accounting, discrete tax items, and other significant non-recurring adjustments that are not reflective of on-going operational activities (e.g., gains/losses on sale of business, gains/losses on extinguishment and modifications of debt, etc.). Adjusted EPS is calculated using diluted weighted- average number of shares outstanding, including the impact of any potentially dilutive common stock equivalents that are anti-dilutive to GAAP net income (loss) per share but dilutive to Adjusted EPS. Management believes that Adjusted EPS is useful in providing period-to-period comparisons of the results of the Company's ongoing operational performance. Net debt is a non-GAAP financial measure that represents debt (a GAAP measure, calculated as long-term obligations plus short-term borrowings) minus capitalized debt issuance costs and cash and cash equivalents, including cash and cash equivalents held for sale. Cash and cash equivalents, including cash and cash equivalents classified as held for sale, are subtracted from the GAAP measure because they could be used to reduce the Company’s debt obligations. Management believes that net debt is a useful measure to monitor leverage and evaluate the balance sheet. Net debt leverage is a non-GAAP financial measure that represents the ratio of Net debt as of a particular balance sheet date to Adjusted EBITDA for the last twelve months prior to such date. Management believes that net debt leverage is a useful measure to assess the Company’s financial strength and ability to incur incremental indebtedness when making key investment decisions. Free cash flow is a non-GAAP financial measure that represents cash flow from operations (a GAAP measure) less capital expenditures. Management believes free cash flow is a useful measure of liquidity and an additional basis for assessing the Company’s ability to fund its activities, including debt service and distribution of earnings to shareholders. Constant currency is a non-GAAP adjustment to certain financial measures that expresses the current financial data using the prior-year/period exchange rate (i.e., the exchange rate used in preparing the financial statements for the prior year). Management believes that constant currency is a useful measure to compare period-to-period results without regard to the impact of fluctuating foreign currency exchange rates. A reconciliation of the non-GAAP measures to the corresponding amounts prepared in accordance with GAAP appears in the tables in this release. The tables provide additional information as to the items and amounts that have been excluded from the adjusted measures. Full Year 2026 Outlook The Company provides guidance of select information related to its financial and operating performance, and such measures may differ from year to year. The guidance is only an estimate of what the Company believes is realizable as of the date of this release. Actual results may vary from the guidance and the variations may be material. The Company undertakes no intent or obligation to publicly update or revise any of these projections, whether as a result of new information, future events or otherwise, except as required by law. A reconciliation of our forward-looking non-GAAP financial measures to the most directly comparable GAAP financial measure cannot be provided without unreasonable effort. This is due to the inherent difficulty of accurately forecasting the occurrence and financial impact of the adjusting items necessary for such a reconciliation to be prepared, for example, the provision for income taxes or net foreign gain/loss, as such items have not yet occurred, are out of our control, or cannot be reasonably predicted. BRIGHTSTAR EARNINGS REPORT – Q2’26
Contents 03 Appendix04 01 Strategy Update 02 Financial Results Q&A BRIGHTSTAR EARNINGS REPORT – Q2’263
01 Strategy Update
01 STRATEGY UPDATE BRIGHTSTAR EARNINGS REPORT – Q2’265 Better-than-expected Q2’26 Profit Performance Same-store sales up low single digits Strong cost discipline while investing in growth Returned $140M to shareholders YTD Good progress on strategic initiatives Significant cash generation; solid balance sheet & financial condition
01 STRATEGY UPDATE Core Growth Bolstered by Innovation, POS Expansion; Successful Contract Renewals Improve Long-term Visibility BRIGHTSTAR EARNINGS REPORT – Q2’266 SSS Q1’26 Q2’26 H1’26 Italy U.S. Instants & Draw Multi-state Jackpots Rest of World Total Instants & Draw Multi-state Jackpots 3.1% - - (0.9%) 5.8% 1.1% 1.2% (0.9%) 1.5% 1.1% 0.4% 11.1% 5.2% 1.5% 1.1% 11.1% 2.3% 0.5% 0.2% 4.7% 5.5% 1.3% 1.1% 4.7%
01 STRATEGY UPDATE 7 BRIGHTSTAR EARNINGS REPORT – Q2’26 23% 29% 11% Italy U.S. ROW Image of new digital POS signage ~23K Retailers Engaged for Digital Account Activation ~33K Italy POS Upgraded H1’26 iLottery Wagers Up 22% Robust iLottery Expansion & Important Italy B2C Digital Milestones
01 STRATEGY UPDATE 8 BRIGHTSTAR EARNINGS REPORT – Q2’26 Image of new digital POS signage Important Developments in Rest of World & Instant Ticket Services Double-digit Growth in Instant Ticket Unit Production in H1’26 Contract Extensions: Mauritius & Slovakia Launched! São Paulo, Brazil
01 STRATEGY UPDATE BRIGHTSTAR EARNINGS REPORT – Q2’269 Revenue, Profit & Cash Flow Poised to Inflect Increased contribution from growth initiatives Completion of Italy Lotto license payments Expect $400M+ of annual free cash flow* after 2025- 2028 CapEx cycle Commitment to growing shareholder returns Compelling valuation *A reconciliation of our forward-looking non-GAAP financial measures to the most directly comparable GAAP financial measure cannot be provided without unreasonable effort. This is due to the inherent difficulty of accurately forecasting the occurrence and financial impact of the adjusting items necessary for such a reconciliation to be prepared, for example, the provision for income taxes or net foreign exchange gain/loss, as such items have not yet occurred, are out of our control, or cannot be reasonably predicted. Before upfront license fees but after minority distributions
02 Financial Results
02 FINANCIAL RESULTS Wager-Based Service Revenue Growth Offset by UK Transition; Higher Non-Cash SRA Impacts Reported Revenue Amounts in $ millions, unless otherwise noted Total Instant Ticket & Draw Wager-based Revenue BRIGHTSTAR EARNINGS REPORT – Q2’2611 Revenue: Global SSS growth Favorable U.S. mix Higher hardware sales in PY Italy B2C digital growth 293 286 286 259 (13) 11 2 5 (8) (47) 219 3 221 79 76 77 631 581 584 Q2'25 U.K. Transition Instant Ticket & Draw U.S. MSJP Other Service Product Sales Upfront License Fee Amortization (SRA) Excluding FX FX Q2'26 RoW Italy U.S. & Canada H1’25 H1’26 1,214 (25) 25 2 18 (6) (89) 1,138 33 1,171
(60) (47) 102 42 (4) 56 23 Q2'25 Service Revenue Amortization Operational Drivers FX Tax Provision Other Q2'26 H1’25 H1’26 (52) (100 ) 63 147 61 - 119 274 15 7 283 3 286 Q2'25 UK Transition Service GM Product Sales GM Other Excluding FX FX Q2'26 1(14) H1’25 H1’26 524 (26) 25 - 23 546 27 573 02 FINANCIAL RESULTS 12 BRIGHTSTAR EARNINGS REPORT – Q2’26 Income from operations of $56M; Adjusted EBITDA* increased 4% to $286M, up 3% at constant currency (1) Does not impact adjusted EBITDA (2) Operational drivers includes gross profit, G&A, R&D, S&M & D&A (3) Other includes G&A, R&D & S&M *Non-GAAP measure; see disclaimer on page 2 and reconciliations to the most directly comparable GAAP measures in Appendix for further details Amounts in $ millions, unless otherwise noted Total Service GM Growth drivers • Flow-through from SSS growth • OPtiMa cost efficiencies & expense recoveries • Continued improvement in effective tax rate (1) Profit Up on Disciplined Execution & Despite U.K. Transition (3) Non-cash FX impact on debt balances at the Parent (2) AEBITDA +11 Restructuring +15 Other -3 Discrete tax item +17 Offsets to growth • U.K. transition • Investments in growth initiatives • Increase to non-cash service revenue amortization (1) Income from Continuing Operations Adjusted EBITDA (2)
BRIGHTSTAR EARNINGS REPORT – Q2’2613 Important Investments in Future Growth & Strong Shareholder Returns 02 FINANCIAL RESULTS ($1,174M)/ $501M H1’26 Cash from Operations including & excluding Lotto upfront license payment $140M YTD(1) Shareholder Returns $232M H1’26 CapEx → Final Lotto license payment of $1.67B made in April 2026; BRSL share $1.03B → Continued commitment to shareholder returns in YTD(1) period • $85M in cash dividends • $55M in share repurchases • Nearly 9% LTM dividend yield(2) → Diluted EPS in H1'26 (reported & adjusted) includes service revenue amortization* of $0.47 per share compared to $0.22 per share in 2025 • FY'26 Adjusted EPS expected to include $0.94** per share of service revenue amortization compared to $0.50 per share in FY’25 (1) Includes share repurchases through August 3, 2026 (2) Based on closing share price on August 3, 2026 *Calculated net of tax and non-controlling interest ** Calculated based on the YTD weighted average diluted shares outstanding as of June 30, 2026, and assuming an FX rate of 1.17
14 Strong Balance Sheet & Credit Profile BRIGHTSTAR EARNINGS REPORT – Q2’26 02 FINANCIAL RESULTS Q2’26 Net debt leverage* 3.24x Liquidity of $1.7B post final Lotto license payment *Non-GAAP measure; see disclaimer on page 2 and reconciliations to the most directly comparable GAAP measures in Appendix for further details ** Bank debt in 2031 is funds drawn on revolving credit facility; includes debt issuance costs Amounts in $ millions, unless otherwise noted - 228 228 228 456 604 570 750 570 750 2026 2027 2028 2029 2030 2031 2033 Bonds Bank Debt ** Debt Maturity Profile As of June 30, 2026
BRIGHTSTAR EARNINGS REPORT – Q2’26 02 FINANCIAL RESULTS Strategic Investments Position Brightstar for Durable Growth H1’26 Actuals Italy B2C Expansion iLottery & digital services R&D Technology products & services innovation roadmap Project Costs Supporting key contract renewals & instant ticket services ~$50M Investment in Growth Initiatives In FY’26… …Important Contributors to Medium-term Targets 15
~$100M IN ANNUAL SAVINGS Accelerating & Upgrading OPtiMa Cost Savings to ~$100M by 2028 16 → Right-sizing to align smaller footprint post sale of IGT Gaming, with focus on back-office optimizations → Will not impact customer-facing activities or compromise our superior customer service standards ~$50M gross annualized savings vs. 2024 OPtiMa Phase 3.1 (2025-2026) ~$30M gross annualized savings vs. 2024 OPtiMa Phase 3.2 (2026-2027) ~$20M gross annualized savings vs. 2024 OPtiMa Phase 3.3 (2027-2028) BRIGHTSTAR EARNINGS REPORT – Q2’26 →Additional efficiencies targeting indirect costs across main operational areas →Back-end technology modernization, automation / digitalization →Focused on changes to management structure, including a reduction in executive & other senior leadership layers and the consolidation of similar functions →Optimization of global real estate footprint 02 FINANCIAL RESULTS
17 Reaffirming FY’26 Revenue and Profit Outlook 02 FINANCIAL RESULTS BRIGHTSTAR EARNINGS REPORT – Q2’26 (1) Reflects100% consolidation of Italy joint venture; minority partner contributions representing their pro rata share are recorded in cash flows from financing activities Revenue $2.50B - $2.55B Adjusted EBITDA $1.16B - $1.19B Cash from Operations(1) including & excluding Lotto upfront license fee ~($900M)/$750M CapEx(1) ~$450M - $475M → Total revenue includes >5% organic growth • ~$175M in incremental Italy Lotto-related service revenue amortization impacts reported growth → Adjusted EBITDA up as revenue growth & OPtiMa savings more than offset $50M investment in growth initiatives → Cash from operations includes $1.67B related to final Lotto license payment → CapEx reflects contractual obligations related to recent contract wins & extensions
03 Q&A
04 Appendix
20 Note: EUR/USD FX daily average 1.16 in Q2’26 and 1.13 in Q2’25 Amounts in millions unless otherwise noted *Non-GAAP measure; see disclaimer on page 2 and reconciliations to the most directly comparable GAAP measures in Appendix for further details Summary of Q2’26 Financial Results BRIGHTSTAR EARNINGS REPORT – Q2’26 04 APPENDIX Constant Y/Y Currency 2026 2025 Change Change (All amounts reflect continuing operations) GAAP Measures: Service revenue Instant ticket & draw wager-based revenue 517 516 - (1)% U.S. multi-state jackpot wager-based revenue 17 15 14% 14% Upfront license fee amortization (100) (53) NM NM Other 116 110 5% 5% Total service revenue 550 588 (6)% (7)% Product sales 34 42 (20)% (20)% Total revenue 584 631 (7)% (8)% Income (loss) from continuing operations 56 (60) NM Income (loss) from continuing operations margin 9.6% (9.5)% NM Diluted EPS $0.18 ($0.47) NM Weighted average shares outstanding - diluted 186 204 Non-GAAP Measures: Adjusted EBIT* 128 168 (24)% (25)% Adjusted EBIT margin* 21.9% 26.6% (4.7pp) (4.8pp) Adjusted EBITDA* 286 274 4% 3% Adjusted EBITDA margin* 48.9% 43.5% 5.4pp 5.3pp Adjusted diluted EPS* $0.11 $0.12 (8)% Quarter Ended June 30,
04 APPENDIX H1’26 Revenue & Profit Profile 95% 5% Service Product Sales 48% 39% 13% U.S. & Canada Italy Rest of world 97% 3% Instant Ticket & Draw U.S. Multi-state Jackpots 10% 49% Income from continuing operations Adjusted EBITDA Revenue by Type Revenue by Geography Wager-based Revenue by Game Type Profit Margins BRIGHTSTAR EARNINGS REPORT – Q2’2621
Q2'26 Select Performance and KPI Data For the three months ended June 30, Constant 2026 2025 Y/Y Change Currency Change Revenue Service Instant ticket & draw wager-based revenue 517 516 —% (1)% U.S. multi-state jackpot wager-based revenue 17 15 14% 14% Upfront license fee amortization (100) (53) NM NM Other 116 110 5% 5% Total service revenue 550 588 (6)% (7)% Product sales 34 42 (20)% (20)% Total revenue 584 631 (7)% (8)% Income (loss) from continuing operations 56 (60) NM Adjusted EBITDA 286 274 4% 3% For the three months ended June 30, Constant 2026 2025 Y/Y Change Currency Change Revenue (by geography) U.S. & Canada 286 293 (2)% (2)% Italy 221 259 (15)% (15)% Rest of world 77 79 (2)% (4)% Total revenue 584 631 (7)% (8)% $ in millions except otherwise noted 22 BRIGHTSTAR EARNINGS REPORT – Q2’26 04 APPENDIX
Q2'26 Select Performance and KPI Data (1) Same-store sales represent the change in wagers recorded in lottery jurisdictions where Brightstar is the operator or facilities management supplier, using the same lottery jurisdictions and perimeter for comparisons between periods (2) Same-store revenue represents the change in same-store sales net of contract mix Same-store revenue growth (%) at constant currency (SSS growth plus impact of contract mix) (2) Same-store sales growth (%) at constant currency (wager-based growth) (1) Q2'26 Constant Q2'25 Constant Q2'26 Constant Q2'25 Constant Currency Change Currency Change Currency Change Currency Change Global Instant ticket & draw games 1.1% 2.6% 2.2% 2.5% U.S. multi-state jackpots 11.1% (34.5)% 13.9% (34.9)% Total 1.5% 0.3% 2.6% 0.9% U.S. Instant ticket & draw games 0.4% 0.6% 4.0% (0.6)% U.S. multi-state jackpots 11.1% (34.5)% 13.9% (34.9)% Total 1.1% (2.7)% 4.7% (4.3)% Italy Instant ticket & draw games 1.5% 3.7% 1.0% 3.6% Rest of world Instant ticket & draw games 5.2% 8.4% 2.5% 9.1% 23 BRIGHTSTAR EARNINGS REPORT – Q2’26 04 APPENDIX
Income Statements For the three months ended June 30, For the six months ended June 30, 2026 2025 Y/Y Change 2026 2025 Y/Y Change Service revenue (includes amortization of upfront license fees) 550 588 (6)% 1,108 1,146 (3)% Product sales 34 42 (20)% 63 68 (8)% Total revenue 584 631 (7)% 1,171 1,214 (4)% Cost of services (excluding Depreciation and amortization) 285 279 576 543 Cost of product sales (excluding Depreciation and amortization) 25 34 48 54 General and administrative 49 58 94 120 Research and development 14 12 29 22 Sales and marketing 32 30 66 63 Depreciation and amortization 58 54 111 108 Restructuring 6 21 6 21 Interest expense, net 49 49 92 94 Foreign exchange (gain) loss, net (4) 99 (16) 131 Other expense, net 6 5 10 11 Income (loss) before provision for income taxes 63 (10) 155 46 Provision for income taxes 7 50 36 97 Income (loss) from continuing operations 56 (60) 119 (52) Less: Net income attributable to non-controlling interests from continuing operations 23 36 49 67 Net income (loss) from continuing operations attributable to Brightstar Lottery PLC 33 (96) 70 (119) Income from discontinued operations — 40 — 92 Less: Net income attributable to non-controlling interests from discontinued operations — 2 — 4 Net Income from discontinued operations attributable to Brightstar Lottery PLC — 38 — 88 Net income (loss) 56 (20) 119 40 Less: Net income attributable to non-controlling interests from continuing operations 23 38 49 71 Net income (loss) attributable to Brightstar Lottery PLC 33 (58) 70 (31) Net income (loss) from continuing operations attributable to Brightstar Lottery PLC - diluted $0.18 $(0.47) $0.37 $(0.59) Adjusted EPS from continuing operations attributable to Brightstar Lottery PLC - diluted $0.11 $0.12 $0.24 $0.20 $ in millions except otherwise noted 24 BRIGHTSTAR EARNINGS REPORT – Q2’26 04 APPENDIX
Summarized Cash Flow Statements $ in millions For the three months ended June 30, For the six months ended June 30, 2026 2025 2026 2025 Net cash (used in) provided by operating activities from continuing operations (1,340) 288 (1,174) 473 Capital expenditures (121) (98) (232) (174) Free Cash Flow (1,461) 190 (1,406) 299 Cash flow provided by/(used in) discontinued operations 0 (11) 24 (127) Debt (repayment)/proceeds, net 389 596 273 799 Repurchases of common stock (14) 0 (45) 0 Shareholder dividends paid (43) (41) (85) (81) Minority distributions, net 459 (23) 457 (32) Other, net (30) (28) (129) (145) Other Investing/Financing Activities 762 494 495 414 Net Cash Flow (699) 684 (911) 712 Effect of exchange rates/other 4 39 (10) 58 Net Change in Cash and Restricted Cash (695) 723 (921) 771 25 BRIGHTSTAR EARNINGS REPORT – Q2’26 04 APPENDIX
For the three months ended June 30, For the six months ended June 30, 2026 2025 2026 2025 Income (loss) from continuing operations 56 (60) 119 (52) Provision for income taxes 7 50 36 97 Interest expense, net 49 49 92 94 Foreign exchange (gain) loss, net (4) 99 (16) 131 Restructuring 6 21 6 21 Stock-based compensation 7 5 14 12 Other expense, net 6 5 10 11 Adjusted EBIT 128 168 261 315 Income (loss) from continuing operations 56 (60) 119 (52) Provision for income taxes 7 50 36 97 Interest expense, net 49 49 92 94 Foreign exchange (gain) loss, net (4) 99 (16) 131 Depreciation 41 45 82 90 Amortization - service revenue (1) 100 53 201 101 Amortization - non-purchase accounting 16 7 26 14 Amortization - purchase accounting 1 2 3 4 Restructuring 6 21 6 21 Stock-based compensation 7 5 14 12 Other expense, net 6 5 10 11 Adjusted EBITDA 286 274 573 524 Cash flows from operating activities - continuing operations (1,340) 288 (1,174) 473 Capital expenditures (121) (98) (232) (174) Free Cash Flow (1,461) 190 (1,406) 299 $ in millions (1) Includes amortization of upfront license fees Reconciliation of Non-GAAP Financial Measures 26 BRIGHTSTAR EARNINGS REPORT – Q2’26 04 APPENDIX
All amounts from continuing operations For the three months ended June 30, 2026 For the three months ended June 30, 2025 Pre-Tax Impact Tax Impact (1) Net Impact Pre-Tax Impact Tax Impact (1) Net Impact Reported EPS from continuing operations attributable to Brightstar Lottery PLC - diluted 0.18 (0.47) Adjustments: Foreign exchange (gain) loss, net (0.02) — (0.02) 0.48 (0.01) 0.49 Amortization - purchase accounting 0.01 — 0.01 0.01 — 0.01 Other non-recurring adjustments 0.00 — 0.00 0.01 — 0.01 Discrete Tax Items 0.00 0.09 (0.09) — — — Loss on the extinguishment of debt 0.01 — 0.01 — — — Restructuring 0.03 0.01 0.02 0.10 0.03 0.07 Net adjustments (0.07) 0.59 Adjusted EPS from continuing operations attributable to Brightstar Lottery PLC – diluted 0.11 0.12 Reported effective tax rate 11.5 % (482.6) % Adjusted effective tax rate 38.3 % 47.5 % Adjusted EPS weighted average shares outstanding (in millions) 186 (2) 204 (2) Reconciliation of Non-GAAP Financial Measures All amounts presented are in $ (1) Calculated based on nature of item, including any realizable deductions, and statutory tax rate in effect for the relevant jurisdiction (2) Includes the dilutive impact of share-based payment awards 27 BRIGHTSTAR EARNINGS REPORT – Q2’26 04 APPENDIX
All amounts from continuing operations For the six months ended June 30, 2026 For the six months ended June 30, 2025 Pre-Tax Impact Tax Impact (1) Net Impact Pre-Tax Impact Tax Impact (1) Net Impact Reported EPS from continuing operations attributable to Brightstar Lottery PLC - diluted 0.37 (0.59) Adjustments: Foreign exchange (gain) loss, net (0.09) — (0.09) 0.64 (0.03) 0.68 Amortization - purchase accounting 0.01 — 0.01 0.02 — 0.02 Discrete tax items — 0.09 (0.09) — — — Loss on the extinguishment of debt 0.01 — 0.01 — — — Restructuring 0.03 0.01 0.02 0.10 0.03 0.07 Other non-recurring adjustments 0.01 — — 0.03 0.01 0.02 Net adjustments (0.13) 0.79 Adjusted EPS from continuing operations attributable to Brightstar Lottery PLC - diluted 0.24 0.20 Reported effective tax rate 23.2 % 212.9 % Adjusted effective tax rate 37.3 % 47.6 % Adjusted EPS weighted average shares outstanding (in millions) 187 (2) 204 (2) Reconciliation of Non-GAAP Financial Measures All amounts presented are in $ (1) Calculated based on nature of item, including any realizable deductions, and statutory tax rate in effect for the relevant jurisdiction (2) Includes the dilutive impact of share-based payment awards 28 BRIGHTSTAR EARNINGS REPORT – Q2’26 04 APPENDIX