Super Group posts record Q1 revenue of $612m
Table of contents
- Super Group reported first-quarter 2026 revenue of $612 million, up 18% year on year.
- Adjusted EBITDA reached $152 million, a 36% increase, as the EBITDA margin expanded to 25%.
- The company reaffirmed full-year 2026 guidance of more than $2.55 billion in revenue and more than $680 million in adjusted EBITDA.
Super Group (SGHC) Limited has reported record first-quarter results for 2026, with revenue rising 18% to $612 million and profit climbing to $86 million, driven by strong customer growth across Africa, Europe, and the Americas.
Record across the board
The Betway and Spin parent posted its highest-ever quarterly revenue, surpassing the $517 million recorded in Q1 2025. Monthly active customers hit an all-time high of 6.4 million, up 18% from 5.4 million in the same period last year.
Adjusted EBITDA grew 36% to $152 million, compared with $111 million a year earlier, pushing the adjusted EBITDA margin to 25%. Net profit for the period rose to $86 million, up from $59 million in Q1 2025.
Neal Menashe, chief executive officer of Super Group, said:
“Q1 2026 was a record-breaking start to the year for Super Group, with all-time highs in revenue, monthly active customers, deposits, and wagering. Our performance reflects the strength of our strategy, the power of our brands, and the discipline of our team.”
Alinda van Wyk, chief financial officer of Super Group, said:
“Our first quarter demonstrates both the robustness and scalability of our business model. Revenue hit a new high of $612 million, marking an 18% increase compared to the same period last year. Adjusted EBITDA experienced a 36% rise, reaching $152 million and pushing our margin to 25%.”
Africa drives growth
Breaking down results by region, the Africa segment generated revenue of $267 million, up 33% from $201 million in Q1 2025. The International segment contributed $339 million, a 9% increase from $311 million. Within International, the Americas accounted for $195 million, with Canada cited as a primary driver, and Europe contributed $113 million.
Africa also led on profitability, with segment adjusted EBITDA of $98 million compared to $73 million for International.
The company ended the quarter with $422 million in cash and cash equivalents. That balance came despite distributing $152 million to shareholders in dividends during the period, bringing total capital returned to investors over the past 12 months to $213 million.
Segment structure overhaul
Alongside the financial results, Super Group announced a significant change to how it reports its business. Going forward, the company will report under two segments: Africa and International. This replaces the previous structure, which divided results between the Betway single-brand sportsbook and casino, and Spin, its multi-brand online casino offering.
The company said the new structure reflects a shift in internal management toward regional performance and market-specific dynamics rather than brand-level reporting. The change takes effect for the full year ending December 31, 2026.
The quarter also saw Super Group complete the acquisition of proprietary sportsbook software, with regulatory approvals received in February. A payment of $28 million (€24 million) was made on March 31, 2026, and the group confirmed it has owned the software since February 28.
Van Wyk added:
“We are reaffirming our guidance for the full year 2026, targeting a minimum total revenue of $2.55 billion and Adjusted EBITDA exceeding $680 million. These projections are supported by our conviction in the sustainability of our business, effective execution across various regions, and the operating leverage inherent in our operations.”
World Cup in focus
Super Group’s guidance reaffirmation signals confidence heading into the second half of 2026, with the FIFA World Cup a key potential catalyst for sports betting volumes. Menashe noted the company has “fortified sports trading capabilities” in preparation for the tournament.
With Africa delivering outsized growth and the Americas continuing to expand, the new regional reporting structure will give investors a clearer view of where Super Group’s performance is concentrated. The completion of the proprietary sportsbook acquisition also removes a key technology dependency and could support longer-term margin improvement.
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