The following is a summary of the XLMedia PLC (XLMDF) Q4 2023 Earnings Call Transcript:

Financial Performance:

• XLMedia reported a decline in revenues, profits, and the number of real money players they were able to deliver in 2023.

• The company ended 2023 with a total cash balance of $4.8 million after paying off prior year acquisition costs and some tax liabilities.

• XLMedia forecasts an adjusted EBITDA of approx. $5 million for the full year of 2024 after cost reductions.

• They received $20 million from the sale of their European assets early in 2024, boosting their financial standing.

• During 2023, there was a successful earnout-based transaction involving gambling.com that could deliver a $5 million boost based on revenue performance.

Business Progress:

• XLMedia is currently centered on its North American business, working to increase this region's prominence as their primary operational landscape.

• 20 states, including Texas and California, creating significant opportunities for future growth due to unregulated online sports and casinos.

• XLMedia plans to reset its cost base and tech infrastructure by the end of 2025 to match a US-only business operation.

• Google algorithm changes have positively impacted visibility enhancing performance for the company's sites and partner sites.

• The company is considering a share buyback or a tender offer in Q4 2024 as a potential method of returning funds to shareholders.

• XLMedia is actively controlling tax liabilities related to the disposal of assets, with all outstanding tax-related issues anticipated to be solved.

• The company's owned and operated assets' value is projected to grow as they maximize their visibility, improve trading results, and pursue the valuation of U.S assets.

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