Light & Wonder, Inc. (LNW) Revenue History
Annual and quarterly revenue from 2013 to 2024
Compound Annual Growth Rate (CAGR)
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LNW Revenue Growth
Revenue Breakdown (FY 2024)
LNW's revenue distribution by segment and geography for fiscal year 2024
By Product/Segment
By Geography
LNW Revenue Analysis (2013–2024)
As of May 8, 2026, Light & Wonder, Inc. (LNW) generated trailing twelve-month (TTM) revenue of $3.22 billion, reflecting modest growth of +2.9% year-over-year. The most recent quarter (Q3 2025) recorded $841.0 million in revenue, up 4.0% sequentially.
Looking at the longer-term picture, LNW's 5-year compound annual growth rate (CAGR) stands at +5.9%, indicating steady revenue expansion. The company achieved its highest annual revenue of $3.36 billion in 2018.
Revenue diversification analysis shows LNW's business is primarily driven by Service (66%), and Product (34%). With over half of revenue concentrated in Service, the company maintains significant focus in this area while developing other growth vectors.
When compared to Consumer Cyclical sector peers including ACEL (+8.4% YoY), DKNG (+27.0% YoY), and RSI (+28.2% YoY), LNW has underperformed the peer group in terms of revenue growth. Compare LNW vs ACEL →
LNW Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| LNWCurrent | $3.2B | +2.9% | +5.9% | 21.0% | |
 ACEL | $1.3B | +8.4% | +33.3% | 8.2% | |
 DKNG | $6.1B | +27.0% | +58.0% | -0.3% | |
 RSI | $1.1B | +28.2% | +32.4% | 7.7% | |
 PENN | $7.0B | +5.8% | +14.2% | 3.9% | |
 GENI | $669M | +31.0% | +34.9% | -15.6% |
LNW Historical Revenue Data (2013–2024)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2024 | $3.19B | +9.9% | $2.26B | 70.8% | $668.0M | 21.0% |
| 2023 | $2.90B | +15.5% | $2.03B | 70.0% | $518.0M | 17.8% |
| 2022 | $2.51B | +16.7% | $1.77B | 70.6% | $273.0M | 10.9% |
| 2021 | $2.15B | +26.7% | $1.54B | 71.7% | $110.0M | 5.1% |
| 2020 | $1.70B | -28.9% | $1.09B | 64.1% | $-245,000,000 | -14.4% |
| 2019 | $2.39B | -29.0% | $1.64B | 68.8% | $290.0M | 12.1% |
| 2018 | $3.36B | +9.1% | $2.11B | 62.7% | $265.6M | 7.9% |
| 2017 | $3.08B | +6.9% | $1.92B | 62.2% | $393.1M | 12.7% |
| 2016 | $2.88B | +4.5% | $1.78B | 61.6% | $130.6M | 4.5% |
| 2015 | $2.76B | +54.4% | $1.65B | 60.0% | $-1,024,600,000 | -37.1% |
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Start ComparisonLNW — Frequently Asked Questions
Quick answers to the most common questions about buying LNW stock.
Is LNW's revenue growth accelerating or slowing?
LNW revenue growth slowed to +2.9%, below the 5-year CAGR of +5.9%. TTM revenue is $3.2B. The deceleration marks a shift from historical growth rates.
What is LNW's long-term revenue growth rate?
Light & Wonder, Inc.'s 5-year revenue CAGR of +5.9% reflects the variable expansion pattern. Current YoY growth of +2.9% is near this long-term average.
How is LNW's revenue distributed by segment?
LNW reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2013-2024 are available for download. Segment mix reveals concentration and diversification trends.