Why did Ainsworth Game Technology (ASX:AGI) issue a downbeat trading update for H1CY26?

Ainsworth Game Technology flagged a severe drop in profitability due to significant underperformance in its primary North American market.

Is Ainsworth Game Technology (ASX:AGI) still profitable after this update?

Yes, but margins have collapsed. The company expects to report a profit before tax of approximately $1.0 million for the six months ending 30 June 2026, excluding currency impacts and one-off items.

How did Ainsworth Game Technology’s revenue perform compared to previous periods?

Total revenue for H1CY26 is expected to hit approximately $116 million, which is a 24% drop compared to the $152.1 million generated in the previous corresponding period.

What is happening to Ainsworth Game Technology’s underlying EBITDA and balance sheet?

Underlying EBITDA is expected to halve to approximately $13 million due to the broader revenue shortfalls. While operations will generate a modest positive cash flow of $2 million, high outflows from investing and financing activities are projected to push net debt up to $14 million, compared to $11.8 million as of 31 December 2025.

Which geographic regions are performing well for Ainsworth Game Technology (ASX:AGI)?

The APAC region is the company's main bright spot, with revenue expected to improve slightly on the back of ongoing installations of the Raptor™ cabinet in Australia. APAC now accounts for roughly 31% of total revenue, with segment results expected to improve to 25% compared to 23% in the previous corresponding period.

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Ainsworth profit plummets amid North American headwinds

Written by Heidi Cuthbert Published May. 22 2026Last Updated May. 22 2026

Ainsworth Game Technology (ASX:AGI) has issued a downbeat trading update for the six months ending June 30, projecting a sharp decline in profitability.

The gaming machine developer expects to report a profit before tax of approximately $1 million, excluding currency impacts and one-off items.

This represents a severe drop from the $13.9 million recorded during the previous corresponding period.

Total revenue for H1 is anticipated to hit $116 million, marking a 24% decrease compared to the $152.1 million achieved a year earlier whilst also falling short of the $138.7 million brought in during the six months ended Dec 31, 2025.

Management attributed the initial revenue shortfalls primarily to underperformance within the North American region, driven by reduced outright sales, fewer units under gaming operations, heightened competition, and adverse economic conditions.

To combat this, AGI is progressing product development to remain competitive, with research and development investment increasing by 7% on the PCP to represent 22% of total revenue.

The APAC region offered a bright spot, where revenue is expected to improve slightly due to the continued installation of the Raptor cabinet in Australia.

APAC contributed roughly 31% of total revenue.

Meanwhile, the Latin America and Europe regions saw revenue drop 13%, though offset by improved segment margins.

Underwhelming broader performance means underlying EBITDA is expected to halve to $13 million. Furthermore, increased outflows from investing and financing activities will see net debt rise to $14 million.