Brightstar Lottery reported $774M of remaining performance obligations at 31 Dec 2025, down 14% from a year earlier. That is 0.3 years of trailing revenue already under contract.
Over the last twelve months it turned about 279% of its opening backlog into revenue (12-month conversion).
28% of the backlog is due within the next twelve months.
Customer prepayments (contract liabilities) cover 8.0% of the backlog.
Twelve-month book-to-bill: 0.95, i.e. 0.95 of new orders for every 1 of revenue recognised.
Backlog growth minus revenue growth: -14 points — revenue is catching up with orders.
The latest filed figure is more than 200 days old.
Brightstar Lottery backlog history
Remaining performance obligations at each quarter end (bars) against trailing twelve-month revenue (line).
Amounts in USD. Source: SEC XBRL filings.
Quarter end
Backlog (RPO)
TTM revenue
Coverage
Customer prepayments
31 Dec 2025
$774M
$2.51B
0.3 yrs
$62.0M
31 Dec 2024
$899M
$2.51B
0.4 yrs
$61.0M
31 Dec 2023
$1.10B
$2.53B
0.4 yrs
$66.0M
31 Dec 2022
$972M
$2.60B
0.4 yrs
$139M
31 Dec 2021
$1.10B
$4.09B
0.3 yrs
$151M
31 Dec 2020
$957M
$3.12B
0.3 yrs
$170M
Questions
What is Brightstar Lottery's backlog?
Brightstar Lottery reported $774M of remaining performance obligations at 31 Dec 2025, down 14% from a year earlier. That is 0.3 years of trailing revenue already under contract.
How fast does Brightstar Lottery's backlog turn into revenue?
Over the last twelve months Brightstar Lottery recognised revenue equal to about 279% of the backlog it started each quarter with.
About these numbers
Remaining performance obligations (RPO) are revenue a company has contracted but not yet recognised, as reported in its SEC filings (XBRL tag RevenueRemainingPerformanceObligation). Coverage = backlog ÷ trailing twelve-month revenue. Book-to-bill = (change in backlog + revenue) ÷ revenue. Conversion = revenue recognised ÷ the backlog at the start of each quarter, summed over four quarters. Counterparty values come from company filings and releases.