Here are the 10-Q quarterly reports from Light & Wonder Inc (LNWO) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow LNWO and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full LNWO filings page.
Light & Wonder, Inc. reported third-quarter 2026 revenue of $824 million, down 2% from $841 million a year earlier, while net income rose 17% to $133 million from $114 million. Operating income was $242 million, up 6% from $229 million. For the nine months ended September 30, 2026, revenue was $2,440 million versus $2,424 million, and net income was $305 million versus $291 million.
Segment revenue moved in different directions: Gaming declined 1% to $554 million, SciPlay fell 12% to $173 million, and iGaming increased 13% to $97 million. SciPlay's direct-to-consumer platform represented approximately 31% of its third-quarter revenue, compared with 20% a year earlier. Net cash provided by operating activities for the nine months was $616 million, versus $475 million in 2025.
During the nine months ended September 30, 2026, Light & Wonder repurchased approximately 1.8 million CDIs under its share repurchase program for an aggregate cost of $156 million, excluding $7 million of excise taxes paid during the period related to purchases made in 2025. Separately, its employee share trust purchased 0.4 million CDIs for $30 million.
Light & Wonder, Inc. reported Q1 2026 revenue of $790 million, up 2% from $774 million a year earlier, as strong Gaming and iGaming growth offset weaker SciPlay performance. Gaming revenue rose 3%, helped by higher participation revenue and the Grover charitable gaming acquisition, while iGaming grew 18% on North American momentum. SciPlay revenue fell 7% due to fewer paying users at JACKPOT PARTY Casino, partly offset by higher spend per payer.
Despite higher revenue, net income fell to $52 million from $82 million, as operating income declined 24%. The drop was driven by a $50 million legal reserve, higher depreciation and amortization tied to installed base and Grover assets, and increased salaries and professional fees. Interest expense also rose with higher debt levels, though income tax expense declined with lower worldwide earnings.
The company generated $139 million of operating cash flow, down from $185 million, and invested $74 million in capital expenditures. Cash, cash equivalents and restricted cash ended the quarter at $253 million. Total debt had a book value of $5.14 billion, including term loans, a $210 million revolver draw and unsecured notes maturing between 2029 and 2033. Stockholders’ equity was $311 million, reflecting share repurchases, treasury stock retirement and retained earnings.