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Pollard Banknote ( (TSE:PBL) ) just unveiled an announcement.
Pollard Banknote reported record 2025 revenue of $596.0 million and record adjusted EBITDA of $119.9 million, driven by growth in combined sales to $725.0 million and strong performance from its NeoPollard Interactive iLottery joint venture. Net income edged down 1.4% to $34.7 million as startup costs for a standalone iLottery operation and regulatory changes in a major charitable eTab market pressured margins, though management expects ongoing initiatives in iLottery and eTabs to mitigate these impacts in 2026.
Fourth-quarter revenue rose 7.5% to $150.8 million with net income rebounding to $4.6 million from a loss a year earlier, supported by higher adjusted EBITDA and improved instant ticket margins. Strategic wins included the first deployment of the Catalyst iLottery platform with the Kansas Lottery, long-term omni-channel gaming platform work for Belgium’s national lottery, a primary instant ticket contract from the California Lottery, and a new Oklahoma Lottery player loyalty contract, bolstering Pollard’s position in both retail and digital lottery solutions.
The most recent analyst rating on (TSE:PBL) stock is a Buy with a C$21.50 price target. To see the full list of analyst forecasts on Pollard Banknote stock, see the TSE:PBL Stock Forecast page.
Spark’s Take on TSE:PBL Stock
According to Spark, TipRanks’ AI Analyst, TSE:PBL is a Neutral.
Pollard Banknote’s overall stock score is driven by strong financial performance and strategic contract wins, despite current financial challenges and bearish technical indicators. The company’s fair valuation and modest dividend yield provide some stability, but improving cash flow and addressing regulatory impacts are crucial for future growth.
To see Spark’s full report on TSE:PBL stock, click here.
More about Pollard Banknote
Pollard Banknote Limited is a Manitoba-based supplier to the global lottery and charitable gaming industries, specializing in instant tickets, iLottery solutions, and related digital and loyalty platforms. The company also provides omni-channel gaming systems and proprietary products such as Scratch FX, and has been expanding into electronic bingo devices through acquisitions like Pacific Gaming LLC.
Average Trading Volume: 21,348
Technical Sentiment Signal: Sell
Current Market Cap: C$506.2M
Learn more about PBL stock on TipRanks’ Stock Analysis page.