bet at home.com (ACX) AI Stock Analysis

• Market Cap: €19.30M
• Dividend Yield: N/A
• Average Volume (3M): 1.59K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.24
• Revenue Growth: 9.83%
• EPS Growth: -43.74%
• Country: DE
• Employees: 101
• Sector: General
• Sector Strength: N/A
• Industry: Gambling, Resorts & Casinos
• EPS (TTM): N/A
• Shares Outstanding: 7,018,000
• 10 Day Avg. Volume: 2,994
• 30 Day Avg. Volume: 1,588
• PEG Ratio: -0.02
• Price to Book (P/B): 0.76
• Price to Sales (P/S): 0.42
• P/FCF Ratio: 21.98
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 47 Neutral
• Price Target: €2.00 ▼(-9.09% Downside)
• Action: Reiterated Date: 12/07/25
• Date: Action: Reiterated 12/07/25

The overall stock score is primarily influenced by weak financial performance and poor valuation metrics. Technical analysis indicates a bearish trend, further impacting the score. The recent corporate event involving a reduction in voting rights adds uncertainty to the company's governance and strategic direction.

Positive Factors

Low leverage

Low debt levels provide the company durable financial flexibility: less refinancing risk and capacity to absorb regulatory or revenue shocks. This supports steady investment in platform and product development and preserves optionality for strategic moves over the next 2–6 months.

Revenue recovery trend

Positive revenue growth after prior declines signals recovering customer engagement and market demand. A sustained top-line increase helps dilute fixed costs, improves operating leverage potential, and forms a foundation for margin recovery if the company sustains and scales offerings.

Durable wagering business model

The core business captures structural revenue via vigorish and casino house edge, which yields predictable unit economics per bet. Combined with digital distribution and partner relationships for software/payments, this creates a scalable, repeatable revenue engine over the medium term.

Negative Factors

Sustained unprofitability

Persistent negative net income and EBIT indicate structural profit issues, reducing internal funding for growth and making margin recovery a priority. Long-run unprofitability constrains reinvestment, increases external financing dependence and challenges long-term shareholder value creation.

Inconsistent free cash flow

Volatile and sometimes negative free cash flow weakens the firm's ability to consistently fund product development, marketing and regulatory costs. This variability limits capital allocation flexibility and raises the bar for sustainable expansion without outside financing.

Governance uncertainty

A major shareholder cutting voting rights introduces governance uncertainty that can delay strategic decisions or trigger shifts in leadership priorities. Over months, such uncertainty can hinder partnerships, capital raises, or decisive investments needed to stabilize operations.

bet at home.com Business Overview & Revenue Model

Company Description

bet-at-home.com AG, through its subsidiaries, provides online gambling and sports betting services in Europe. It offers sports betting and live betting; online casinos; Vegas, an online gaming; online poker; and virtual football and basketball leagues, tennis, dog racing, and horse racing betting games. The company was founded in 1999 and is based in Düsseldorf, Germany. bet-at-home.com AG is a subsidiary of BetClic Everest Group S.A.S.

How the Company Makes Money

Bet-at-home.com generates revenue primarily through sports betting and online casino gaming. The company earns money by taking a percentage of the total betting amounts wagered, commonly referred to as the 'vigorish' or 'juice,' which ensures profitability regardless of the outcome of the bets. Additionally, the online casino segment contributes to revenue through user engagement in games like slots, table games, and live dealer offerings, where the house edge guarantees sustained earnings. The company may also benefit from strategic partnerships with software developers and payment processors, enhancing its service offerings and facilitating a seamless betting experience for users. Marketing efforts, including promotions and bonuses, help attract new customers and retain existing ones, further boosting revenue streams.

bet at home.com Financial Statement Overview

Summary

The company faces challenges with declining revenues and profitability issues, reflected in the income statement. The balance sheet shows low leverage but declining equity. Cash flows have been volatile, with recent improvements not yet translating into profitability. Continued focus on revenue growth and cost management is necessary to stabilize financial health.

Income Statement

The company has experienced declining revenues over the years, with a notable drop from 2020 to 2021. The latest annual report shows a slight recovery in total revenue. However, profitability remains a concern with negative net income and EBIT in the latest period. Gross profit margin has declined compared to previous years, indicating potential efficiency issues.

Balance Sheet

The balance sheet shows a stable equity base, but total assets and stockholders' equity have decreased over the years. The debt-to-equity ratio is low, indicating manageable debt levels. However, the equity ratio has deteriorated, suggesting increased reliance on liabilities.

Cash Flow

The cash flow statement reflects inconsistent free cash flow generation, with negative free cash flow in some years. Operating cash flow has improved in the latest year but remains relatively low. The free cash flow to net income ratio is unfavorable due to negative net income.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	51.62M	41.59M	36.09M	42.04M	47.56M	44.93M
Gross Profit	32.48M	41.59M	17.38M	26.70M	33.99M	25.26M
EBITDA	-1.54M	-1.84M	855.00K	2.10M	13.86M	13.13M
Net Income	-3.30M	-4.45M	-1.50M	11.91M	-16.31M	23.29M
Balance Sheet
Total Assets	52.41M	52.68M	56.78M	62.66M	75.78M	95.14M
Cash, Cash Equivalents and Short-Term Investments	38.39M	33.67M	34.65M	35.33M	41.99M	56.81M
Total Debt	1.25M	1.41M	1.73M	1.88M	1.69M	2.57M
Total Liabilities	27.61M	29.69M	29.34M	33.71M	58.74M	44.24M
Stockholders Equity	24.80M	22.99M	27.44M	28.95M	17.04M	50.89M
Cash Flow
Free Cash Flow	0.00	792.00K	133.00K	-5.96M	8.60M	16.93M
Operating Cash Flow	0.00	792.00K	104.00K	-5.02M	10.49M	18.15M
Investing Cash Flow	0.00	18.00K	-343.00K	-874.00K	-1.90M	-1.22M
Financing Cash Flow	0.00	-329.00K	-498.00K	-770.00K	-18.42M	-14.88M

bet at home.com Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2.20
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:ACX, the sentiment is Positive. The current price of 2.2 is above the 20-day moving average (MA) of 2.05, above the 50-day MA of 2.11, and below the 200-day MA of 2.57, indicating a bullish trend. The MACD of 0.03 indicates Negative momentum. The RSI at 81.81 is Negative, neither overbought nor oversold. The STOCH value of 64.66 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for DE:ACX.

bet at home.com Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TIMA	69 Neutral	€1.08B	22.34	19.37%	4.61%	52.25%	4.51%
Sector *	55 Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
ACX	47 Neutral	€19.30M	-5.85	-12.47%	―	9.83%	-43.74%

bet at home.com Corporate Events

bet-at-home.com AG Announces Significant Change in Voting Rights

On December 17, 2025, bet-at-home.com AG announced a change in voting rights, with the threshold crossing on December 15, 2025. Total voting rights decreased from 8.55% to 2.95%, reflecting significant changes in shareholder dynamics linked to Stéphane Courbit and controlled entities. This development is likely to impact the company’s governance structure and may signal shifts in strategic decision-making.

The most recent analyst rating on (DE:ACX) stock is a Hold with a EUR2.50 price target. To see the full list of analyst forecasts on bet at home.com stock, see the DE:ACX Stock Forecast page.

bet-at-home.com AG Announces Change in Voting Rights

bet-at-home.com AG has announced a change in voting rights, with ARJO SAS, a legal entity based in Paris, France, acquiring or disposing of shares with voting rights. As of November 27, 2025, ARJO SAS holds 4.95% of the voting rights attached to shares, totaling 347,391 shares. This announcement may impact the company’s shareholder structure and influence its strategic decisions, potentially affecting stakeholders and market positioning.

The most recent analyst rating on (DE:ACX) stock is a Hold with a EUR2.50 price target. To see the full list of analyst forecasts on bet at home.com stock, see the DE:ACX Stock Forecast page.

bet-at-home.com AG Announces Change in Voting Rights

bet-at-home.com AG has announced a change in voting rights, with FINANCIERE WEBER ROULE SAS acquiring or disposing of shares, resulting in a 4.95% total voting rights. This announcement, released under Article 40 of the WpHG, indicates a shift in shareholder structure, which could impact the company’s governance and strategic decisions.

The most recent analyst rating on (DE:ACX) stock is a Hold with a EUR2.50 price target. To see the full list of analyst forecasts on bet at home.com stock, see the DE:ACX Stock Forecast page.

bet-at-home.com AG Announces Change in Voting Rights Structure

bet-at-home.com AG announced a change in its voting rights structure, with Mathieu Zucchiatti acquiring or disposing of shares, resulting in ZM GROUP SAS holding 3.97% of the voting rights. This adjustment in shareholding could influence the company’s governance and strategic decisions, potentially impacting its market position and stakeholder interests.

The most recent analyst rating on (DE:ACX) stock is a Hold with a EUR2.50 price target. To see the full list of analyst forecasts on bet at home.com stock, see the DE:ACX Stock Forecast page.

bet-at-home.com AG Announces Change in Voting Rights

bet-at-home.com AG has announced a change in its voting rights, with Adam Gishen acquiring or disposing of shares resulting in a new total of 4.95% voting rights. This adjustment in voting rights could potentially impact the company’s governance and decision-making processes, reflecting a shift in shareholder influence.

The most recent analyst rating on (DE:ACX) stock is a Hold with a EUR2.50 price target. To see the full list of analyst forecasts on bet at home.com stock, see the DE:ACX Stock Forecast page.

bet-at-home.com AG Announces Change in Voting Rights Structure

bet-at-home.com AG has announced a change in its voting rights structure, with Stéphane Courbit, through Betclic Everest Group SAS, now holding 44.98% of the voting rights, down from a previous 53.90%. This adjustment in shareholding could influence the company’s strategic decisions and its market positioning, impacting stakeholders and potentially altering its competitive dynamics within the industry.

The most recent analyst rating on (DE:ACX) stock is a Hold with a EUR2.50 price target. To see the full list of analyst forecasts on bet at home.com stock, see the DE:ACX Stock Forecast page.

bet-at-home.com AG Announces Change in Voting Rights Structure

bet-at-home.com AG has announced a significant change in its voting rights structure, with the total percentage of voting rights attached to shares decreasing from 44.98% to 21.25%. This change is due to the acquisition or disposal of shares with voting rights, with Betclic Everest Group SAS now holding 21.25% of the voting rights. This adjustment in voting rights could impact the company’s governance and strategic decision-making, potentially affecting its market positioning and stakeholder interests.

The most recent analyst rating on (DE:ACX) stock is a Hold with a EUR2.50 price target. To see the full list of analyst forecasts on bet at home.com stock, see the DE:ACX Stock Forecast page.

bet-at-home.com AG Announces Change in Voting Rights

bet-at-home.com AG has announced a change in voting rights, with Stéphane Courbit, through Betclic Everest Group SAS, now holding 8.55% of the voting rights, down from a previous 21.25%. This significant reduction in voting rights could impact the company’s governance and strategic decisions, potentially influencing its market position and stakeholder interests.

The most recent analyst rating on (DE:ACX) stock is a Hold with a EUR2.50 price target. To see the full list of analyst forecasts on bet at home.com stock, see the DE:ACX Stock Forecast page.

bet-at-home.com AG Announces Change in Voting Rights

bet-at-home.com AG has announced a change in voting rights, with Merit France SAS acquiring or disposing of shares that result in a 4.95% voting rights position. This change reflects a significant shift in shareholder structure, potentially impacting the company’s governance and strategic decisions.

The most recent analyst rating on (DE:ACX) stock is a Hold with a EUR2.50 price target. To see the full list of analyst forecasts on bet at home.com stock, see the DE:ACX Stock Forecast page.