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Light & Wonder (LAWIL) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 4, 2026 · Light & Wonder (LAWIL) Q3 2026 earnings results →
Q3 2026 Revenue down 2% year over year to $824M · 16¢ of every $1 of revenue kept as net profit · operating margin 29.4%
Light & Wonder made $824M in Q3 2026 (-2% Y/Y): Gaming $554M, SciPlay $173M, iGaming $97.0M. Operating margin 29.4%, net earnings $133M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 4, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $824.0M in Q3 2026, down 2% year over year and roughly flat from the previous quarter. Gaming was the largest line at 67% of revenue. SciPlay lost $24.0M year over year (down 12%), 141% of the total change.
Operating profit was $242.0M, a 29.4% margin (up 2.1 points year over year). Total costs fell 5% while revenue fell 2%. Net earnings were $133.0M, up 17% year over year. The effective tax rate was 20.4%.
Operating cash flow was $236.0M (up 28% year over year), 177% of net earnings. Non-cash charges added back $105.0M of depreciation and amortization and $24.0M of share-based compensation. Working capital and other items used $26.0M. After capital expenditures, net ($42.0M) and payments on license obligations ($13.0M), free cash flow as the company reports it was $181.0M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 4, 2026 | $824M | -2% | 29.4% | $133M | $236M |
| Q2 2026 | 10-Q | Aug 4, 2026 | $828M | +2% | 26.9% | $120M | $241M |
| Q1 2026 | 10-Q | May 6, 2026 | $790M | +2% | 16.5% | $52.0M | $139M |
| Q4 2025 | 10-K | Feb 24, 2026 | $890M | +12% | 9.3% | −$15.0M | $319M |
| Q3 2025 | 10-Q | Nov 5, 2025 | $841M | +3% | 27.2% | $114M | $184M |
| Q2 2025 | 10-Q | Aug 6, 2025 | $809M | -1% | 25.0% | $95.0M | $106M |
| Q1 2025 | 10-Q | May 7, 2025 | $774M | +2% | 22.0% | $82.0M | $185M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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Customers and suppliers named in filings
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About Light & Wonder
Unless otherwise specified or the context otherwise indicates, all references to the words “Light & Wonder,” “Light & Wonder, Inc.,” “we,” “us,” “our” and the “Company” refer to L&W and its consolidated subsidiaries. L&W is a leading cross-platform global games company with a focus on content and digital markets headquartered in Las Vegas, Nevada. Our portfolio of revenue-generating activities primarily includes supplying game content and gaming machines, CMSs and table game products and services to licensed gaming entities, and electronic pull-tabs and related services to charitable gaming entities; providing social casino and other online games, including casual gaming, to retail customers; and providing a comprehensive suite of digital gaming content, distribution platforms, player account management systems, as well as various other iGaming content and services.
In its own words, from its 10-K, filed Feb 24, 2026.
Light & Wonder against its Services-Computer Integrated Systems Design peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -2% against the peers' median +4%. Operating margin: 29.4% against the peers' median 11.9%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| LAWIL Light & Wonder | Q3 2026 | $824M | -2% | 29.4% |
| LDOS Leidos Holdings | Q3 2026 | $4.6B | +4% | 11.9% |
| KD Kyndryl Holdings | Q2 FY27 | $3.7B | -2% | 3.1% |
| CACI CACI International | Q3 2026 | $2.5B | +8% | 10.0% |
| SAIC Science Applications International | Q2 FY27 | $1.9B | +6% | 8.1% |
| PSN Parsons | Q3 2026 | $1.7B | +2% | 6.3% |
| GDDY GoDaddy | Q3 2026 | $1.3B | +6% | 27.0% |
| OTEX Open Text | Q1 FY27 | $1.2B | -4% | 20.3% |
| JKHY Jack Henry & Associates | Q1 FY27 | $702M | +9% | 29.5% |
Source: Light & Wonder 10-Q on SEC EDGAR · CIK 750004 · Services-Computer Integrated Systems Design
More on LAWIL
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results