AINSWORTH GAME TECHNOLOGY (AINSF)

Saturday

8:53 PM

Thesis: Ainsworth Game Technology: the story is balanced — New product launches and game performance metrics (hold percentages, player engagement)

Revenue Outlook

Metric	FY2025	FY2026
Revenue	$201M	$231M
Rev. Growth	-6.4%	+14.7%
EPS	$0.09	$-0.06
EPS Growth	+426%	-167%
P/E	11.4×	—

What Moves the Stock

1New product launches and game performance metrics (hold percentages, player engagement)
2Installed base growth and participation revenue trends in key markets (Australia, North America)
3Regulatory approvals for new jurisdictions or game certifications
4Large customer orders or multi-year supply agreements with casino operators
5Margin improvement initiatives and path to operating profitability
6Gaming machine sales (EGM cabinets and content) - estimated 50-60% of revenue
7Participation/recurring revenue (revenue share from installed base) - estimated 25-35%
8Service, parts, and digital content licensing - estimated 10-20%

FY2026 Snapshot

Revenue: $231M
Rev. Growth: +14.7%
Gross Margin: 46.3%
Op. Margin: -29.7%
Net Margin: -8.3%
Net Income: $-19M
NI Growth: -163%
EPS: $-0.06
1Y Return: +98.1%

AINSF Chart

My Notes

value/turnaround - The stock trades at 1.0x book value and 1.8x sales with 28.6% one-year return…
Rising interest rates negatively impact the business through multiple channels: (1) casino operators face higher financing costs…
Watch on earnings: US consumer sentiment (UMCSENT) as leading indicator for casino visitation and gaming revenue, Retail sales ex-auto (RSXFS) as proxy for discretionary spending available for gaming entertainment, Australian dollar vs USD exchange rate given revenue split between Australia and North America.

One Sentence Summary:

Ainsworth Game Technology: the story is balanced — new product launches and game performance metrics (hold percentages, player engagement).

Auto-composed from Stock Alarm intelligence, financial statements, and analyst estimates. Not investment advice.

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