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Inspired Entertainment

INSE on Nasdaq. Market value $105m.

Watch this stockFree. We tell you when something changes.

Should I look at this?

Look carefully before going further

Why it could be worth it

What to watch out for

Read the warning sign in its own filings

This is not advice. Check the numbers below.

Compare with another stock

Cash yield
11.7%very high

For every $100 of what the whole company costs, it produced $11.71 of spare cash last year. A savings account pays about $4.

Price to profit
14.3×fair

You pay 14.3 years of operating profit for the business. The average large US company costs around 18.

Return on capital
8.4%five-year median

Each dollar kept in the business earns 8 cents a year. Above 10 is good.

Quality score: 78 of 100. Price score: 62 of 100. Our list needs 70 on quality and 60 on price.

Five years of cash, in billions

0.0
0.0
0.0
0.0
0.0
20152016201720192020
Revenue
$51m$48m$45m$31m$200m
Operating margin
-2.5%3.5%-26.4%-41.9%-9.0%
Debt to equity
n/an/an/an/an/a
Shares outstanding
0.01bn0.01bn0.02bnn/a0.02bn

Health checks

  • Free cash flow positive4 of 5 years
  • Accounting looks honest (Beneish)Not enough data
  • Financial strength (Piotroski)3 of 9
  • Profit backed by cash (accruals)No
  • DebtUnknown
  • Revenue growth, five yearsStrong, 40.8% a year
  • Buying back its own sharesNo, 130% more shares since 2015

Dates

Next results (estimated)
n/a
Last annual report (10-K)
10 March 2026
Next quarterly (estimated, 10-Q)
4 November 2026

Who owns it

2 long-term investors we follow own it, unchanged from 2 last quarter. 100 funds in all.

Jun '25
Dec '25
Jun '26
Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

7 investors own more than 5%.

  • A. Lorne Weil
    Insider or founder
    at least 10.9%
    (filed with 2 related holders)
    Since 27 March 2026
    What they said

    Item 4 to the Schedule 13D is hereby amended to add the following information: During the period from March 25, 2026 to March 27, 2026, the A. Lorne Weil 2024 Family Trusts II purchased an aggregate of 50,000 shares of the Issuer's Common Stock at an aggregate cost of $340,835,…

    Read the filing
  • Kanen David
    Passive investor
    at least 10.0%+2.1 pts
    (filed with 3 related holders)
    Since 30 September 2025
  • SAMJO MANAGEMENT, LLC
    Passive investor
    at least 7.3%
    (filed with 1 related holder)
    Since 31 March 2025
  • BlackRock, Inc.
    Passive investor
    6.9%
    Since 30 June 2026
  • 5.0%+0.1 pts
    Since 30 June 2026
  • Cannell Capital
    Passive investor
    at least 4.3%−2.3 pts
    (filed with 1 related holder)
    Since 31 March 2025
  • at least 4.2%−2.2 pts
    (filed with 2 related holders)
    Since 2 July 2025

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

In the last 12 months, 3 insiders bought $1m of shares on the open market.

  • PIERCE BROOKS H
    President and CEO
    Bought
    Date
    27 March 2026
    Shares
    5,000
    Price
    $6.76
    Value
    $33,800
  • WEIL A LORNE
    Executive Chairman, Director
    Bought
    Date
    27 March 2026
    Shares
    20,000
    Price
    $6.80
    Value
    $136,000
  • Chambrello Michael R.
    Director
    Bought
    Date
    26 March 2026
    Shares
    10,000
    Price
    $6.92
    Value
    $69,241
  • PIERCE BROOKS H
    President and CEO
    Bought
    Date
    26 March 2026
    Shares
    13,332
    Price
    $6.88
    Value
    $91,724
  • WEIL A LORNE
    Executive Chairman, Director
    Bought
    Date
    26 March 2026
    Shares
    21,659
    Price
    $6.85
    Value
    $148,364
  • PIERCE BROOKS H
    President and CEO
    Bought
    Date
    25 March 2026
    Shares
    1,668
    Price
    $6.66
    Value
    $11,109
  • WEIL A LORNE
    Executive Chairman, Director
    Bought
    Date
    25 March 2026
    Shares
    8,341
    Price
    $6.66
    Value
    $55,551
  • WEIL A LORNE
    Executive Chairman, Director
    Bought
    Date
    26 November 2025
    Shares
    50,000
    Price
    $8.11
    Value
    $405,500
  • PIERCE BROOKS H
    President and CEO
    Bought
    Date
    21 November 2025
    Shares
    10,000
    Price
    $7.39
    Value
    $73,900
  • PIERCE BROOKS H
    President and CEO
    Bought
    Date
    20 November 2025
    Shares
    10,000
    Price
    $7.04
    Value
    $70,400

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

1 serious warning sign in Inspired Entertainment’s filings.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 10 Mar 2026, plus the 10-Q filed 5 Aug 2026 and 5 later 8-Ks.

  • Weak checks on its own accounts

    Serious

    The company said its checks on its own accounts did not work at the end of its latest quarter. Mistakes could slip into the numbers.

    “Based on the foregoing, our Certifying Officers concluded that our disclosure controls and procedures were not effective as of June 30, 2026, due to the material weaknesses described in Item 9A of the Company’s 2025 Form 10-K.”
    Show the full paragraph
    Under the supervision, and with the participation of our management, including our Certifying Officers, we carried out an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures as defined in Rules 13a15(e) and 15d-15(e) under the Exchange Act. Based on the foregoing, our Certifying Officers concluded that our disclosure controls and procedures were not effective as of June 30, 2026, due to the material weaknesses described in Item 9A of the Company’s 2025 Form 10-K.

    From the 10-Q filed 5 August 2026, Part I, Item 4. Controls and Procedures. Read it in the filing

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

What could go wrong

Cheap for a reason is the question the numbers cannot answer.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.