B90 Holdings (B90) AI Stock Analysis

• Market Cap: £11.02M
• Dividend Yield: N/A
• Average Volume (3M): 266.09K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.69
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: UK
• Employees: 8
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Gambling, Resorts & Casinos
• EPS (TTM): 0.00
• Shares Outstanding: 440,814,730
• 10 Day Avg. Volume: 63,534
• 30 Day Avg. Volume: 266,089
• PEG Ratio: 0.12
• Price to Book (P/B): 2.37
• Price to Sales (P/S): 4.45
• P/FCF Ratio: -32.66
• 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): £7.00M

• Rating: 53 Neutral
• Price Target: 3.50 p ▼(-17.65% Downside)
• Action: N/A Date: 01/04/26
• Date: Action: N/A 01/04/26

The score is held back primarily by weak financial performance—ongoing net losses, persistent negative cash flow, and equity erosion—despite an improved low-debt balance sheet. Technicals are a clear positive with the stock trading above major moving averages and supportive momentum, while valuation is neutral due to missing P/E and dividend yield data.

Positive Factors

Performance‑based iGaming marketing model

B90’s performance‑based affiliate and CPA/revenue‑share model aligns revenue with measurable customer acquisition and operator outcomes. That creates a low‑capex, scalable revenue engine tied to player activity, supporting predictable unit economics if conversion and retention remain stable.

Negative Factors

Persistent negative profitability

Deep negative operating and net margins indicate the core business has not yet delivered sustainable profitability. Continued losses constrain reinvestment, weaken returns on any incremental growth, and require either structural margin improvement or ongoing external funding to reach self‑sustaining operations.

B90 Holdings Business Overview & Revenue Model

Company Description

B90 Holdings PLC, together with its subsidiaries, engages in the operation of online Sportsbook and casino products through Bet90.com in the British Virgin Islands and Malta. The company is also involved in the provision of marketing and promotion...

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B90 Holdings PLC, together with its subsidiaries, engages in the operation of online Sportsbook and casino products through Bet90.com in the British Virgin Islands and Malta. The company is also involved in the provision of marketing and promotion...

How the Company Makes Money

B90 primarily makes money through performance-based digital marketing arrangements in which it directs users (traffic) to third-party online gambling operators and earns fees tied to measurable outcomes. Key revenue streams typically include: (1) ...

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B90 primarily makes money through performance-based digital marketing arrangements in which it directs users (traffic) to third-party online gambling operators and earns fees tied to measurable outcomes. Key revenue streams typically include: (1) ...

B90 Holdings Financial Statement Overview

Breakdown	TTM	Dec 2024	Dec 2023	Jun 2023	Dec 2021	Dec 2020
Income Statement
Total Revenue	4.55M	3.52M	3.03M	2.14M	826.86K	813.01K
Gross Profit	2.98M	1.93M	665.97K	25.32K	-479.18K	-211.35K
EBITDA	630.49K	-951.57K	-4.48M	-3.78M	-3.17M	-2.16M
Net Income	-1.42M	-1.70M	-5.47M	-4.27M	-3.49M	-2.51M
Balance Sheet
Total Assets	8.21M	8.14M	10.56M	7.11M	9.10M	1.93M
Cash, Cash Equivalents and Short-Term Investments	401.21K	364.26K	829.12K	359.05K	827.30K	320.52K
Total Debt	0.00	0.00	0.00	655.65K	0.00	2.20M
Total Liabilities	1.56M	1.53M	2.52M	4.15M	5.43M	6.95M
Stockholders Equity	6.64M	6.62M	8.04M	2.96M	3.70M	-5.06M
Cash Flow
Free Cash Flow	84.03K	-479.93K	-5.78M	-2.31M	-4.49M	-1.58M
Operating Cash Flow	84.03K	-479.93K	-4.03M	-2.31M	-3.89M	-1.58M
Investing Cash Flow	0.00	0.00	-1.75M	0.00	-600.00K	-200.00K
Financing Cash Flow	15.07K	15.07K	6.25M	1.84M	4.99M	1.67M

B90 Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
GMR	74 Outperform	£84.64M	14.08	22.77%	―	21.27%	21.93%
RNK	65 Neutral	£424.40M	6.26	9.03%	2.58%	8.26%	263.36%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
PTEC	60 Neutral	£934.06M	0.68	92.10%	163.36%	―	―
ENT	55 Neutral	£3.45B	-7.35	-57.07%	2.24%	5.14%	-7.80%
B90	53 Neutral	£11.02M	-73.85	―	―	―	―
EVOK	41 Neutral	£165.92M	-1.51	74.03%	―	5.26%	32.20%

B90 Holdings Corporate Events