U.S. Q1 Income of Bragg Gaming Skyrockets by 150%
Revamped Recap:
Saddle up, gamblers! Bragg Gaming Group just dropped some sizzling stats, sharing their first-quarter financials for the year. The excitement's real, with a 7.1% revenue surge year-over-year to a whopping €25.5m ($28.5m). So, what brought on this gambling gold rush? It's all about the US market, baby!
A Closer Look at Bragg's Q1 Financials
Bragg's Q1 earnings paint a story of growth and success across key ain't-no-joke metrics. Here's the lowdown:
- Total revenue, sans the Netherlands, clocked in at €25.5m, marking a 7.1% leap from the previous year.
- Adjusted EBITDA saw a 19.7% boost, bringing the sum to €4.1m.
- Gross profits skyrocketed by 20.3%, hitting €14.3m for the quarter.
- Gross profit margin also took off, up from 49.9% in Q1 2024 to a robust 56% in Q1 2025.
- Cash from operations enjoyed a 63.5% growth, raking in €4.5m.
The U.S.—Bragg's Powerhouse
No surprise here, the big kahuna is the U.S. market. Revenue in this neck of the woods shot up by a jaw-dropping 150% year-over-year! Bragg's super cool proprietary content is the ace up its sleeve, driving this growth spurt in the US market.
Challenges and Strategies
All's not perfect in the land of Bragg—operating losses ballooned by €0.4m year-over-year, creeping up to €1.7m in Q1 2025. The company's feeling the heat in the Netherlands market, where regulatory pressures are slowing things down. Bragg's staying positive, though, and working to slash its dependence on this turbulent market.
Growing the Empire
Bragg's bold moves in Q1? Expansion, baby! The company set up shop in the regulated Brazilian market and inked an exclusive tech collab with Caesars in the US. On top of that, Svenska Spel in Sweden got Bragg's proprietary online gaming portfolio integrated onto its platform.
Matevž Mazij, Bragg's CEO, channels the bravado: "This strong start to 2025 shows we're nailing our strategy and cooking up the metrics that make shareholders' hearts race. We're double-downing on high-margin proprietary content and supercharging our presence in growth markets like the US, Brazil, and more."
Bragg's full-year outlook? Expect double-digit growth in both revenue and adjusted EBITDA, according to the company.
Shoutout to the Experts
Secret sauce behind Bragg's success? It's all about strategic shifts toward higher-margin proprietary content, bustin' a move in key markets like the US and Brazil, and step-ping up operational efficiencies. You're welcome for the insider deets!
- The strong revenue growth and adjusted EBITDA boost in Bragg Gaming Group's Q1 2025 earnings can be attributed to strategic focus on higher-margin proprietary content and expanding business in key markets like the US and Brazil.
- In the world of finance and technology, Bragg Gaming Group's success in Q1 2025 underscores the potential of the US market and the importance of effective business strategies in driving growth within the gaming industry.
