Ainsworth H126 revenue falls 23% as profit drops to a loss

Ainsworth Game Technology has announced its financial results for the first half of 2026, highlighting a revenue figure of AU$116.5m (US$83.7m) for the period.  

Indeed, this figure represents a year-on-year downturn of 23%, a theme evident across the supplier's H1 2026 financial report more broadly. Results compared to the prior half-year period – the second half of 2025 – show some improvements. Interestingly, the company outlined its expectation for a sharp profit decline over the course of the year's first half in May, before then stating in July that it anticipated a stronger H1 2026 performance following its US tariff refund. 

Ainsworth's H1 at a glance 

Observing revenues primarily, the AU$116.5m H1 2026 figure also represents a fall of 19.1% in comparison to the revenue figure posted for the second half of 2025.  

Underlying EBITDA followed a similar pattern, dropping 36% year-on-year to settle at a figure of AU$17.1m for H1 2026, also down 23.4% from H2 2025. Standard EBITDA, however, rose from a negative figure of AU$32.1m in H2 2025 to a positive figure of AU$10.2m during the first half of 2026 – despite dropping 30% year-on-year.  

Elsewhere, profit plummeted 238% in comparison to the first half of 2025 to a loss of AU$2.2m, an improvement on the AU$46m loss recorded in H2 last year. Operating cashflow followed an opposite trend, rising by some 289% year-on-year to settle at AU$8.9m.  

Results by region  

By region, North America remained the company's key revenue driver over the course of the year's first half, generating AU$51.9m of the supplier's overall revenue figure. Alas, this figure still represents a downturn of 38% year-on-year alongside a drop of 24% compared to the prior half. Revenues from the APAC region, however, rose by 7% to AU$34.6m compared to H1 2025.  

Ainsworth's joint Latin American and European revenues also dropped 24.4% to a figure of AU$25.4m in comparison with results from the same period of the prior year, while revenues from its online segment also fell 14% year-on-year to AU$2.4m, dropping by AU$0.1m from the prior half. 

CEO's comments  

Ainsworth CEO Ryan Comstock spoke on these latest results, saying: "Given the challenging trading conditions, our focus has been on disciplined cost management to enhance margins, reducing debt and improving our operating cash flow whilst also continuing our investment in R&D and successfully launching new products in key markets.  

"A lack of compelling new product offerings in recent times in our largest market – North America – has adversely impacted our performance. We have taken steps to address this and are focused over the next six months on a product roadmap with a consistent release cadence off the back of the Dragon Legacy." 

This latest development falls in the wake of the closure of Kjerulf Ainsworth’s proportional takeover bid, which closed in Q2.