Key Moments:
- Super Group reported Q3 2025 revenue of $556.9 million, marking a 26% increase from the prior year.
- Adjusted EBITDA rose 65% to $152.1 million, with international markets contributing the majority.
- The company raised full-year revenue guidance to between $2.17 billion and $2.27 billion.
Q3 2025 Performance Outpaces Expectations
Super Group, the parent entity of Betway and Spin, posted record-breaking financial results for the third quarter of 2025, prompting the company to upgrade its full-year guidance. Revenue climbed to $556.9 million, up 26% from the comparable period last year. Net profit reached $95.8 million, and adjusted EBITDA surged 65% to $152.1 million, compared to $92 million in Q3 2024.
International markets were the primary drivers of this performance, delivering $149.2 million in adjusted EBITDA, while the United States generated $2.9 million. In response, the company updated its full-year revenue forecast to range between $2.17 billion and $2.27 billion, increasing from previous guidance of $2.13 billion to $2.20 billion. Adjusted EBITDA targets were also raised to between $555 million and $565 million.
| Quarter | Revenue (USD) | Adjusted EBITDA (USD) | Profit (USD) | International Adjusted EBITDA (USD) | US Adjusted EBITDA (USD) |
|---|---|---|---|---|---|
| Q3 2025 | 556.9 million | 152.1 million | 95.8 million | 149.2 million | 2.9 million |
| Q3 2024 | – | 92 million | – | – | – |
CEO Highlights Platform Strength and Engagement
CEO Neal Menashe emphasized the company’s successful execution across its main regions, stating:
“We are incredibly pleased with our Q3 performance, which highlights the continued strength of our global platform and consistent execution across our core markets. Despite customer-friendly outcomes in September, we delivered record-level customer engagement, strong revenue growth, and margin expansion.”
The business achieved six million monthly active customers, a milestone reflecting innovation and effective local execution. Notably, Africa, Europe, and North America – particularly Canada – delivered robust growth, while South and Latin American markets saw softer results.
Financial Discipline and Capital Allocation
CFO Alinda van Wyk credited strict financial management and strategic investment for the quarter’s strong results. She said:
“This was another quarter of strong financial delivery. We generated an exceptional $152m in adjusted EBITDA, up 65% year-over-year and raised our full-year guidance above the targets we shared on Investor Day.”
Super Group closed September with $461.9 million in cash, up from $388 million at the end of 2024. The company disbursed $20.2 million in dividends during the quarter, lifting total shareholder returns over the past twelve months to $136.1 million.
Analyst Perspectives: Stability and the Road Ahead
Regulus Partners analysts commended Super Group’s measured growth strategy, noting:
“Super Group has proved the resilience of the early internet model time and again since it has not chased brand and expensive new markets with the vigour of many of its competitors, which is why most have ended up as M&A targets.”
However, they also cautioned about future expansion:
“Super Group’s regulatory risk profile remains relatively ‘spicy’, our view, but while macro growth in mature markets has consistently saved the day in the past, Super Group must now pivot into emerging markets to maintain momentum.”
Outlook Entering Q4 and Beyond
With record Q3 results, expanding customer numbers, and raised financial targets, Super Group moves into the final quarter of the year in a strong position. The company aims to turn its current stability into sustainable long-term growth as it looks toward 2026.
- Author
Daniel Williams
