Filing Flows › Light & Wonder (LAWIL) › Q1 2026
Light & Wonder (LAWIL) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 6, 2026
Light & Wonder (LAWIL) reported revenue of $790M for the first quarter 2026 (Q1 2026), +2% from a year earlier and -11% from the quarter before. Operating margin was 16.5%, net earnings $52.0M (6.6% of revenue).
Light & Wonder, Q1 2026: revenue $790M (+2% year over year), operating margin 16.5%, net earnings $52.0M, operating cash flow $139M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $790M | -11% | +2% |
| Operating profit | $130M | +57% | -24% |
| Net earnings | $52.0M | — | -37% |
| Operating cash flow | $139M | -56% | -25% |
| Free cash flow | $55.0M | — | -50% |
What changed
Revenue was $790.0M in Q1 2026, up 2% year over year and down 11% from the previous quarter. Gaming was the largest line at 65% of revenue. Gaming added $17.0M year over year (up 3%), 106% of the total change. SciPlay declined 7%.
Operating profit was $130.0M, a 16.5% margin (down 5.5 points year over year). Operating profit fell $40.0M even though revenue rose $16.0M versus Q1 2025, so costs grew faster than sales. Total costs grew 9% against revenue growth of 2%. The fastest-growing cost line was Other operating costs (+46%). Net earnings were $52.0M, down 37% year over year. The effective tax rate was 16.1%.
Operating cash flow was $139.0M (down 25% year over year), 267% of net earnings. Non-cash charges added back $108.0M of depreciation and amortization and $32.0M of share-based compensation. Working capital and other items used $53.0M. After capital expenditures ($74.0M) and change in restricted cash impacting working capital ($6.0M) and payments on license obligations ($4.0M), free cash flow as the company reports it was $55.0M.
Questions
What was Light & Wonder's revenue in the first quarter 2026?
Light & Wonder (LAWIL) reported revenue of $790M for the first quarter 2026 (Q1 2026), +2% from a year earlier and -11% from the quarter before.
Was Light & Wonder profitable in the first quarter 2026?
Operating profit was $130M (16.5% of revenue) and net earnings $52.0M.
Source: Light & Wonder 10-Q on SEC EDGAR.