Redeye comments on Fable Media Group’s Q3 2026 results, with net sales ahead of our estimates and profitability slightly below, broadly as the recent guidance adjustment had signalled. Net sales grew 21% y/y to SEK18.7m, above our SEK17.7m estimate, while EBITDA of SEK10.6m landed marginally below our SEK10.8m. The nationwide ban on sports betting and casino activities in Brazil at the end of September has effectively halted Fable’s activities there for now, which together with weak October margins led to the 3 November guidance cut to SEK69-74m in net sales and SEK40-45m in Adjusted EBITDA (previously SEK70-85m and SEK45-55m).
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