(AsiaGameHub) –   Evolution has released its interim report covering the quarter ending March 31 (Q1), noting small drops in revenue and EBITDA. The underwhelming results were linked to weak performances across Europe.

Evolution’s Financial Performance Sees a Minor Drop

For Q1 2026, Evolution recorded a 1.5% fall in net revenues, reaching EUR 513 million ($602.3 million). While the firm saw growth in Asia and the Americas, Europe’s lackluster showing led to a 5.9% regional decline.

Europe’s struggles also contributed to a 1.9% decrease in the company’s Q1 EBITDA, which stood at EUR 335.3 million ($393.6 million) — equivalent to a margin of 65.4%.

Evolution also posted a Q1 profit of EUR 251.9 million ($295.7 million), a 1% drop from Q1 2025.

The company’s pre-dilution earnings per share edged up slightly to EUR 1.26 ($1.48).

Evolution Sees Growth in LATAM; US Progress Tempered by Weak USD

In its official statement, Evolution highlighted key Q1 milestones, including notable headway in its efforts to combat cybercrime in Asia.

Elsewhere, the company launched its second studio in Latvia and acquired a second facility in Argentina.

CEO Martin Carlesund commented on the progress, emphasizing a 29.3% growth rate in Latin America. He noted that beyond the new Argentine studio, Evolution is exploring expansion opportunities in Brazil and Colombia.

The company’s North American performance was strong, but this was offset by the weak US dollar and unfavorable exchange rates. Canada, meanwhile, could offer further opportunities as Alberta prepares to roll out iGaming.

Carlesund stated that Europe was the biggest disappointment in Q1, attributing the region’s weak performance to regulatory volatility and subjectivity.

Evolution Stays Committed to Long-Term Value Generation

CEO Carlesund expressed excitement for 2026, as it marks the company’s 20^th anniversary. He noted that his team has come a long way and remains dedicated to further enhancing the quality of Evolution’s products.

Carlesund hinted at an exciting 2026 roadmap that will feature the launch of various engaging products. He concluded that his team will stay focused on long-term value creation, never losing sight of what truly matters — player satisfaction.

In the interim, Evolution’s board of directors decided not to propose any dividend for the 2025 financial year.