LiveScore Group reported a reduced net loss for the financial year ending 31 March 2025, supported by strong revenue growth, particularly in its B2C online gambling segment.
Total revenue rose 15.3% year-on-year to £206.3 million. Growth was primarily driven by the B2C division, which generated £185.1 million, up 18.3% compared to the previous year. Software development revenue also increased significantly, climbing 50% to £2.1 million. However, B2B advertising revenue declined by 9.5% to £19.1 million.
The company noted that its exit from the Netherlands in November 2024, due to stricter advertising rules and higher taxes, impacted performance. Excluding the Dutch market, group revenue would have increased by 20.9% to £194.0 million.
Geographically, the UK remained the strongest market, with revenue rising 26.0% to £175.6 million. In contrast, revenue from the rest of Europe fell 29.0% to £16.0 million, largely due to the Netherlands exit, while revenue from the rest of the world declined 14.0% to £14.4 million.
LiveScore said in its account:
This was in line with expectations and overall growth plans as the business incurred significant expansion and marketing costs. The reduced operating loss resulted from a gross profit increase that outpaced ongoing significant investment in marketing and the LiveScore brand.
Despite higher costs, including £48.4 million in cost of sales, gross profit increased 14.3% to £157.9 million. Operating loss improved significantly, falling to £26.7 million from £50.7 million the previous year. Pre-tax loss also narrowed to £27.8 million, while net loss stood at £28.6 million, compared to £48.9 million in FY24.
The company reported an EBITDA loss of £15.2 million, a notable improvement from £38.8 million a year earlier. It attributed the remaining losses to continued investment in marketing and brand expansion.
Analysts, including Regulus Partners, highlighted the company’s strong UK performance and noted that while scaling in a competitive market remains challenging, LiveScore’s strategy of converting sports media audiences into betting and gaming users could deliver long-term value.
