Quarterly revenue growth registered by Bragg Gaming Group in Q1.
*Bragg Gaming Group's Q1 2025 Financial Results: A Deep Dive***
Bragg Gaming Group, a leading iGaming powerhouse, has revealed its Q1 2025 financials, demonstrating considerable growth, enhanced profitability, and robust cash flow. Here's a lowdown on the key points, with some intriguing tidbits sprinkled in for good measure.
The Numbers at a Glance
- Revenue escalated by 7.1% YoY, hitting €25.5 million.
- Excluding the Netherlands, revenue surged a magnificent 27%, with U.S. revenue seeing a striking 150% boost.
- Gross profit margin ascended to a significant 56%, thanks to the surge in proprietary content.
- Adjusted EBITDA enhanced 19.7% YoY.
Matevž Mazij, Bragg's CEO, chimed in:
"We're pumped about this impressive Q1 performance, proving that our strategic gameplan is delivering real results and value for our shareholders. By prioritizing high-margin proprietary content and nailing costs, we've amplified profitability and cash flow. Although we've faced obstacles in the Netherlands due to regulatory hurdles, we're as solid as a rock and are refocusing our efforts on high-growth markets like the U.S. and Brazil."
Topical Nuggets
- Excluding the Netherlands, revenue growth for Q1 2025 was a solid 27%, with the U.S. contributing a substantial portion of the volley.
- The U.S. is expected to make up around 15% of Bragg's 2025 revenue, underscoring the company's strategic shift in geographical focus.
- Bragg entered regulated operations in Brazil in Q1 and made a strategic equity investment in local studio RapidPlay, positioning itself for growth in Latin America.
The Future Ahead
Bragg is optimistic about maintaining this momentum through 2025, thanks to an expanding reach in regulated markets, strategic technology partnerships, and a portfolio of top-notch proprietary content. The company's full-year guidance includes:
- Revenue projected between €117.5 million and €123.0 million
- Adjusted EBITDA anticipated between €19.0 million and €21.5 million
Bragg is determined to bolster growth in core markets like the U.S. and Latin America, all while fortifying its technology and content portfolio for long-term prosperity.
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Bragg Gaming Group, in its Q1 2025 financial report, highlighted a surge in revenue, with a 7.1% Year-over-Year increase, along with a significant boost in U.S. revenue by 150%. This growth in revenue, excluding the Netherlands, reached a substantial 27%, indicating the company's focus on strategic investing in business opportunities such as proprietary content and high-growth markets.
