Flutter’s Q4 Gains Face Market-Share Questions as Company Rolls Out FanDuel Predicts
Cramer casts doubt on management’s stance on prediction markets, calling the stock too risky.
Overview
- Flutter reported Q4 2025 group revenue up 25% with adjusted EBITDA rising 27%, led by strong U.S. performance from FanDuel.
- FanDuel posted a 33% U.S. revenue increase and a 90% jump in adjusted EBITDA, with sportsbook revenue up 35% and iGaming up 33%.
- Net income fell to $10 million from $156 million year over year, which the company attributed to higher interest costs and tax expenses.
- Management said sportsbook margins were high even as total betting handle moderated, citing a less compelling NFL season and favorable sports results.
- For 2026, Flutter guided to $7.8 billion in U.S. revenue and $10.6 billion internationally and plans to launch FanDuel Predicts in 18 states, while disputing that prediction markets are a major problem despite acknowledging share loss to an unspecified rival.