BRAGG PRE-ANNOUNCES FULL YEAR 2023 REVENUE RISE OF 10.4% TO EUR 93.5 MILLION (USD 100.5 MILLION) AND ADJUSTED EBITDA GROWTH OF 26.3% TO EUR 15.2 MILLION (USD 16.3 MILLION)
- Strong revenue growth of 10.4% YoY to EUR 93.5 million in 2023.
- Adjusted EBITDA rose by 26.3% to EUR 15.2 million in 2023.
- Full financial results to be released on March 26, 2024, before the opening of financial markets.
- Conference call scheduled for March 26, 2024, at 8:30 a.m. Eastern Time.
- Top executives including CEO, CFO, and CSO will discuss financial results and business updates.
- Replay of the call available until April 2, 2024, with access details provided.
- None.
The pre-announcement of Bragg Gaming Group's full year 2023 revenue and Adjusted EBITDA reflects a substantial growth trajectory, with a notable 10.4% increase in revenue and a more significant 26.3% rise in Adjusted EBITDA. This performance suggests an effective strategy in scaling operations and improving profitability. Investors may interpret these figures as indicators of strong company management and potential for sustained growth, especially in the context of the competitive B2B gaming technology sector.
Furthermore, the Adjusted EBITDA margin improvement implies better cost management and operational efficiency. It's essential to consider how these margins compare to industry averages and whether they can be maintained as the company scales. Investors should also be aware of the capital expenditures that might be required to support further growth and how these could affect future earnings. The timing of this pre-announcement, just ahead of the full earnings release, could be strategically aimed at managing market expectations.
From a financial perspective, the increase in both revenue and Adjusted EBITDA is a positive signal to the market, potentially impacting Bragg's stock price positively. The Adjusted EBITDA is particularly important as it excludes non-cash expenses, interest, taxes and other one-time charges, providing a clearer picture of the company's operating performance. This metric is often used by investors to gauge a company's ability to generate cash flow and fund operations without the noise of accounting decisions.
Analyzing the revenue growth in the context of the gaming industry's current trends, such as the shift towards online platforms and regulatory changes, is critical. Investors should also consider the company's growth in relation to its competitors. If Bragg is outperforming the market, it could suggest a competitive advantage. However, it's also important to look at the sustainability of this growth, taking into account the company's long-term strategy and market conditions.
The reported financial performance of Bragg Gaming Group can have broader economic implications, particularly within the tech and gaming industries. A 10.4% year-over-year revenue increase is a positive economic indicator, reflecting not only the company's growth but also suggesting a healthy consumer demand within the sector. The substantial rise in Adjusted EBITDA indicates that the company is not only increasing sales but also becoming more profitable, which is a sign of a maturing business model.
However, it is vital to contextualize these figures within the broader economic environment, considering factors such as consumer spending trends, disposable income levels and economic cycles. While the company's performance is strong, external economic pressures, such as inflation or changes in discretionary spending, could impact future growth. Investors should weigh these macroeconomic factors when considering the long-term potential of their investment in Bragg Gaming Group.
RECONFIRMS FULL FINANCIAL RESULTS TO BE RELEASED ON MARCH 26
The Company will release its full fourth quarter and full year 2023 financial results prior to the opening of the financial markets on Tuesday, March 26, 2024. The release will be followed by a conference call at 8:30 a.m. Eastern Time, hosted by Bragg Chief Executive Officer, Matevž Mazij, Chief Financial Officer, Ronen Kannor, and Chief Strategy Officer, Yaniv Spielberg, to discuss the Company's financial results and provide a business update. During the call, management will review a presentation that will be available on the day of the call and can be accessed at: https://investors.bragg.group/financials/quarterly-results/default.aspx
To join the call, please use the below dial-in information:
Participant Toll-Free Dial-In Number (US and
Participant Toll Dial-In Number (International): 1 (646) 307-1963
Conference ID: 1909159
A webcast of the call and presentation may also be viewed at: https://investors.bragg.group/events-and-presentations/events/default.aspx
A replay of the call will be available until April 2, 2024, following the conclusion of the live call. To access the replay, dial (647) 362-9199 or (800) 770-2030 (toll-free) and use the passcode 1909159.
About Bragg Gaming Group
Bragg Gaming Group (NASDAQ: BRAG, TSX: BRAG) is a content-driven iGaming technology provider, serving online and land-based gaming operators with its proprietary and exclusive content, and its cutting-edge technology. Bragg Studios offer high-performing, data-driven and passionately crafted casino gaming titles from in-house brands Wild Streak Gaming, Spin Games, Atomic Slot Lab, Indigo Magic and Oryx Gaming. Its proprietary content portfolio is complemented by a range of exclusive titles from carefully selected studio partners which are Powered By Bragg: games built on Bragg remote games server (Bragg RGS) technology, distributed via the Bragg Hub content delivery platform and available exclusively to Bragg's customers. Bragg's modern and flexible omnichannel Player Account Management (Bragg PAM) platform powers multiple leading iCasino and sportsbook brands and is supported by expert in-house managed operational and marketing services. All content delivered via the Bragg Hub, whether exclusive or from Bragg's large, aggregated games portfolio, is managed from a single back-office and is supported by powerful data analytics tools, as well as Bragg's Fuze™ player engagement toolset. Bragg is licensed or otherwise certified, approved and operational in multiple regulated iCasino markets globally, including in
View original content:SOURCE Bragg Gaming Group
FAQ
What was Bragg Gaming Group Inc.'s revenue in full year 2023?
How much did Adjusted EBITDA rise by in 2023 for Bragg Gaming Group Inc.?
When will Bragg Gaming Group Inc. release its full financial results for 2023?
Who will be hosting the conference call to discuss Bragg Gaming Group Inc.'s financial results?
Until when will the replay of the conference call be available?
