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Inspired Entertainment, Inc.

For the period ended Sep 30, 2026. Filed Nov 5, 2026.

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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2026 · Filed Nov 5, 2026

INSE$3.70+5.7%Stored close · as of Nov 6, 2026
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30,2026

OR

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period _______________

Commission File Number:001-36689

INSPIRED ENTERTAINMENT, INC.

(Exact name of registrant as specified in its charter)

Delaware47-1025534
(State or other jurisdiction of(I.R.S. Employer
incorporation or organization)Identification Number)
New York, NY10107
(Address of principal executive offices)(Zip Code)

Registrant’s telephone number, including area code:(646) 565-3861

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Date File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See definitions of “large accelerated filer”, “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☐Accelerated filer ☒
Non-accelerated filer ☐Smaller reporting company ☒
Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No☒

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered
Common stock, par value $0.0001 per shareINSEThe NASDAQ Stock Market LLC

As of November 2, 2026, there were 26,366,684 shares of the Company’s common stock issued and outstanding.

TABLE OF CONTENTS

PART I.FINANCIAL INFORMATION1
ITEM 1.FINANCIAL STATEMENTS (Unaudited)1
Condensed Consolidated Balance Sheets1
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)2
Condensed Consolidated Statement of Stockholders’ Deficit3
Condensed Consolidated Statements of Cash Flows5
Notes to Condensed Consolidated Financial Statements6
ITEM 2.MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS20
ITEM 3.QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK43
ITEM 4.CONTROLS AND PROCEDURES43
PART II.OTHER INFORMATION45
ITEM 1.LEGAL PROCEEDINGS45
ITEM 1A.RISK FACTORS45
ITEM 2.UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS45
ITEM 3.DEFAULTS UPON SENIOR SECURITIES45
ITEM 4.MINE SAFETY DISCLOSURES45
ITEM 5.OTHER INFORMATION45
ITEM 6.EXHIBITS45
SIGNATURES46

i

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

References in this report to “we,” “us,” “our,” the “Company” and “Inspired” refer to Inspired Entertainment, Inc. and its subsidiaries unless the context suggests otherwise.

Certain statements and other information set forth in this report, including in Item 2, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and elsewhere herein, may relate to future events and expectations, and as such constitute “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and Section 27A of the Securities Act of 1933, as amended (the “Securities Act”). Our forward-looking statements include, but are not limited to, statements regarding our business strategy, plans and objectives and our expected or contemplated future operations, results, financial condition, beliefs and intentions. In addition, any statements that refer to projections, forecasts or other characterizations or predictions of future events or circumstances, including any underlying assumptions on which such statements are expressly or implicitly based, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “can,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “scheduled,” “seek,” “should,” “would” and similar expressions, among others, and negatives expressions including such words, may identify forward-looking statements.

Our forward-looking statements reflect our current expectations about our future results, performance, liquidity, financial condition, prospects and opportunities, and are based upon information currently available to us, our interpretation of what we believe to be significant factors affecting our business and many assumptions regarding future events. Actual results, performance, liquidity, financial condition, prospects and opportunities could differ materially from those expressed in, or implied by, our forward-looking statements. This could occur as a result of various risks and uncertainties, including the following:

●government regulation and taxation of our industries;
●our ability and our customers’ ability to compete effectively in our industries;
●the impact of evolving and disruptive technologies, including artificial intelligence, on our business;
●risks associated with the use, development and deployment of AI technologies
●our ability to maintain relationships with suppliers;
●our ability to protect and enforce our intellectual property rights, and to do so in all markets in which we operate;
●our ability to protect our business against cybersecurity threats;
●our ability to successfully grow by acquisition as well as organically;
●fluctuations due to seasonality;
●our ability to attract and retain key members of our management team;
●our need for working capital;
●our ability to secure capital for growth and expansion;
●changing consumer, technology and other trends in our industries;
●our ability to successfully operate across multiple jurisdictions and markets around the world;
●changes in local, regional and global economic and political conditions;
●risks associated with responsible gaming, and social impact expectations, including heightened regulatory scrutiny and reputational impacts; and
●other factors described in the reports and documents we file from time to time with the U.S. Securities and Exchange Commission (the “SEC”).

In light of these risks and uncertainties, and others discussed in this report, there can be no assurance that any matters covered by our forward-looking statements will develop as predicted, expected or implied. Readers should not place undue reliance on any forward-looking statements. Except as expressly required by the federal securities laws, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changed circumstances or any other reason. We advise you to carefully review the reports and documents we file from time to time with the SEC.

ii

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.