The following is a summary of the Bragg Gaming Group Inc. (BRAG) Q3 2024 Earnings Call Transcript:
Financial Performance:
Bragg Gaming Group reported a record total revenue of EUR 26.2 million for Q3 2024, an increase of 15.9% year-over-year.
Gross profit for the quarter was EUR 14 million, showing an increase of 18% from the previous year, with a gross profit margin of 53.5%.
Adjusted EBITDA grew by 7% to EUR 4.1 million, though the margin slightly decreased to 15.6% from 16.9% reported in the same period last year.
Business Progress:
Bragg Gaming has expanded its content distribution in the U.S., launching in new states and deepening partnerships with major operators such as Caesars Entertainment and FanDuel.
The company launched its sixth PAM customer in the Netherlands and successfully incorporated the Kambi Sportsbook with its partner 711.nl.
For 2025, Bragg anticipates continued double-digit top-line growth and operational leverage improvements.
Opportunities:
Continued U.S. market expansion and planned entry into the regulated Brazilian market starting January 2025 are expected to drive substantial growth.
The company is set to capitalize on Brazil's regulated market through its PAM and custom content solutions.
Risks:
Adjusted EBITDA margin decreased slightly, indicating cost pressures despite revenue growth.
The company is tracking towards the lower end of its 2024 guidance, which might signal slower than expected profit growth.
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
