---
schema_version: "secwatch.filing_event.v1"
accession: "0000750004-26-000021"
form_type: "8-K"
ticker: "LNWO"
cik: "0000750004"
company_name: "Light & Wonder, Inc."
filed_at: "2026-05-06T23:59:59+00:00"
generated_at: "2026-05-14T23:01:56.308982+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Light & Wonder Q1 revenue $790M (+2%); net income down 37% on $50M legal reserve; AEBITDA $327M (+5%)

## Summary
- Revenue $790M (+2% YoY); Gaming operations revenue up 38% to $239M; machine sales down 25%.
- Net income $52M ($0.66/share), down 37% YoY due to ~$50M legal reserve; Adjusted NPATA $115M ($1.45/share, +7%).
- Consolidated AEBITDA $327M (+5%); all three segments posted AEBITDA growth and margin expansion.
- North American premium unit base up 650 sequentially (2,550 YoY); Grover added 660 units from Indiana entry.
- Operating cash flow $139M (-25% on legal settlements); Adjusted free cash flow $207M (+86%).

## SEC filing metadata
- accession: 0000750004-26-000021
- form_type: 8-K
- ticker: LNWO
- cik: 0000750004
- company_name: Light & Wonder, Inc.
- filed_at: 2026-05-06T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/750004/000075000426000021/0000750004-26-000021-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/750004/000075000426000021/lnw-20260506.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000750004-26-000021
- JSON: https://secwatch.observer/filing/0000750004-26-000021.json
- Plain text: https://secwatch.observer/filing/0000750004-26-000021.txt

## Key facts
- Earnings Releases
  Light & Wonder, Inc. reported first quarter ended March 31, 2026 results: revenue $790 million, net income $52 million, EPS $0.66 per share.
  - Period: first quarter ended March 31, 2026
  - Revenue: $790 million
  - Net income: $52 million
  - EPS: $0.66 per share
  - Result: reported results
  source text: demonstrating resilience against a backdrop of macroeconomic and geopolitical uncertainty, including tariff-related pressures. Consolidated revenue grew 2% year-over-year to $790 million, against a strong prior year period. We continue to execute against our commitment to deliver enhanced quality of earnings through recurring revenue (4) , with Gaming operations
  evidence_url: https://www.sec.gov/Archives/edgar/data/750004/000075000426000021/0000750004-26-000021-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.