Bragg Gaming Group Announces Record Third Quarter 2024 Revenue of EUR 26.2 Million (USD 29.3 Million)
Bragg Gaming Group reported record Q3 2024 results with revenue increasing 16% year-over-year to EUR 26.2 million. Gross profit rose 18% to EUR 14.0 million, while Adjusted EBITDA grew 7% to EUR 4.1 million. The company saw a 40% increase in proprietary online content revenue, driven by expanded US distribution. The Board concluded its strategic review, determining that executing the current strategy is the best path forward. Bragg reiterated its 2024 guidance of EUR 102.0-109.0 million in revenue and EUR 15.2-18.5 million in Adjusted EBITDA, tracking toward the lower end of guidance.
Bragg Gaming Group ha riportato risultati record per il terzo trimestre del 2024, con un aumento del fatturato del 16% rispetto all'anno precedente, arrivando a 26,2 milioni di EUR. Il profitto lordo è aumentato del 18% a 14,0 milioni di EUR, mentre l'EBITDA rettificato è cresciuto del 7% a 4,1 milioni di EUR. L'azienda ha registrato un aumento del 40% nei ricavi provenienti da contenuti online proprietari, grazie all'espansione della distribuzione negli Stati Uniti. Il Consiglio ha concluso la sua revisione strategica, stabilendo che l'implementazione della strategia attuale sia il migliore percorso da seguire. Bragg ha ribadito le sue previsioni per il 2024, con un fatturato tra 102,0 e 109,0 milioni di EUR e un EBITDA rettificato tra 15,2 e 18,5 milioni di EUR, mirando verso il limite inferiore delle previsioni.
Bragg Gaming Group informó resultados récord para el tercer trimestre de 2024, con un aumento del 16% en los ingresos interanuales, alcanzando 26,2 millones de EUR. El beneficio bruto aumentó un 18% a 14,0 millones de EUR, mientras que el EBITDA ajustado creció un 7% a 4,1 millones de EUR. La empresa experimentó un aumento del 40% en los ingresos por contenido en línea propietario, impulsado por la expansión de la distribución en EE. UU. La Junta concluyó su revisión estratégica, determinando que ejecutar la estrategia actual es el mejor camino a seguir. Bragg reiteró su guía para 2024 de entre 102,0 y 109,0 millones de EUR en ingresos y de 15,2 a 18,5 millones de EUR en EBITDA ajustado, con tendencia hacia el límite inferior de la guía.
브래그 게임 그룹은 2024년 3분기 기록적인 결과를 보고하며, 수익이 전년 대비 16% 증가한 2,620만 유로에 달했다고 전했습니다. 총 이익은 18% 증가하여 1,400만 유로에 이르렀고, 조정된 EBITDA는 7% 증가하여 410만 유로로 늘어났습니다. 회사는 미국 배급의 확대에 힘입어 독점 온라인 콘텐츠 수익이 40% 증가했습니다. 이사회는 전략 검토를 마무리하며 현재 전략을 수행하는 것이 최선의 경로라고 결론지었습니다. 브래그는 2024년 수익에 대한 가이드를 1억 2,020만 ~ 1억 2,090만 유로, 조정된 EBITDA는 1,520만 ~ 1,850만 유로로 재확인하며, 가이드의 하한선으로 향하고 있습니다.
Bragg Gaming Group a annoncé des résultats record pour le troisième trimestre 2024, avec une augmentation de 16 % des revenus d'une année sur l'autre, atteignant 26,2 millions d'EUR. Le bénéfice brut a augmenté de 18 % pour atteindre 14,0 millions d'EUR, tandis que l'EBITDA ajusté a crû de 7 % pour s'établir à 4,1 millions d'EUR. L'entreprise a connu une augmentation de 40 % des revenus issus de contenus en ligne propriétaires, stimulée par l'élargissement de la distribution aux États-Unis. Le Conseil a conclu sa révision stratégique, déterminant que l'exécution de la stratégie actuelle est le meilleur chemin à suivre. Bragg a réitéré ses prévisions pour 2024 d'un chiffre d'affaires compris entre 102,0 et 109,0 millions d'EUR et un EBITDA ajusté entre 15,2 et 18,5 millions d'EUR, s'orientant vers le bas de la fourchette de prévisions.
Bragg Gaming Group meldete Rekordzahlen für das dritte Quartal 2024, mit einem Umsatzanstieg von 16% im Jahresvergleich auf 26,2 Millionen EUR. Der Bruttogewinn stieg um 18% auf 14,0 Millionen EUR, während das bereinigte EBITDA um 7% auf 4,1 Millionen EUR zunahm. Das Unternehmen verzeichnete einen Anstieg von 40% bei den Einnahmen aus proprietären Online-Inhalten, angetrieben durch die erweiterte US-Vertrieb. Der Vorstand schloss seine strategische Überprüfung ab und stellte fest, dass die Umsetzung der aktuellen Strategie der beste Weg nach vorne ist. Bragg bekräftigte seine Prognose für 2024 mit einem Umsatz von 102,0 bis 109,0 Millionen EUR und einem bereinigten EBITDA von 15,2 bis 18,5 Millionen EUR, wobei es auf das untere Ende der Prognose zusteuert.
- Record Q3 revenue of EUR 26.2M, up 16% YoY
- Gross profit increased 18% to EUR 14.0M
- Adjusted EBITDA grew 7% to EUR 4.1M
- 40% growth in proprietary online content revenue
- Operating cash flow improved to EUR 8.4M from EUR 6.2M YoY
- Strong cash position of EUR 11.6M
- Operating Loss of EUR 0.4M in Q3
- Adjusted EBITDA margin declined 129 basis points to 15.6%
- Tracking toward lower end of 2024 guidance
Insights
The Q3 2024 results showcase strong performance with
The company's financial health appears robust with
The conclusion of the strategic review without a sale indicates management's confidence in organic growth potential. However, tracking toward the lower end of 2024 guidance suggests some near-term challenges in achieving the projected
The expansion of partnerships with major operators like Caesars Digital, FanDuel and bet365 significantly strengthens Bragg's market position in key North American jurisdictions. The Dutch market presence, particularly with HardRockCasino.nl launch and the 711.nl sportsbook integration, demonstrates successful geographical diversification.
The strategic decision to remain independent, despite receiving multiple offers, suggests management's conviction in the company's intrinsic value and growth trajectory. The focus on proprietary content and technology platform scalability positions Bragg well for 2025's projected double-digit growth, though execution will be important for realizing these ambitious targets.
-
Third quarter revenue increased
16% YoY to a record level; gross profit rose18% and adjusted EBITDA grew by7% - Special Committee concludes strategic review; ongoing execution of Bragg’s strategy best option to maximize shareholder value
-
40% proprietary online content revenue growth YoY, fueled by expanded distribution of content in the US - Well positioned to maintain momentum under new leadership team
Summary of 3Q24 Financial and Operational Highlights |
|||||||||
Euros (millions)(1) |
|
3Q24 |
|
3Q23 |
|
Change |
|
||
Revenue |
|
€ |
26.2 |
|
€ |
22.6 |
|
15.9 |
% |
Gross profit |
|
€ |
14.0 |
|
€ |
11.9 |
|
18.1 |
% |
Gross profit margin |
|
|
53.5 |
% |
|
52.5 |
% |
99 |
bps |
Adjusted EBITDA(2) |
|
€ |
4.1 |
|
€ |
3.8 |
|
7.1 |
% |
Adjusted EBITDA margin |
|
|
15.6 |
% |
|
16.9 |
% |
(129 |
) bps |
Operating Income (Loss) |
|
€ |
(0.4) |
|
€ |
(2.1) |
|
(81.0 |
)% |
| (1) |
|
Bragg’s reporting currency is Euros. The exchange rate provided is |
(2) |
|
“Adjusted EBITDA” is a non-IFRS measure. For important information on the Company’s non-IFRS measures, see “Non-IFRS Financial Measures” below. |
Chief Executive Officer Commentary
Matevž Mazij, Chief Executive Officer for Bragg, commented, “The third quarter marked another period of strong growth and record results for Bragg. Revenue grew
“Additionally, we announced today that the Board of Directors has unanimously decided to conclude its review of strategic alternatives for Bragg. After extensive evaluation and deliberation, the Board determined that the ongoing execution of the Company’s strategic plan is the best way to maximize value for shareholders at this time.
“Since stepping in as Chairman 16 months ago and then as CEO 14 months ago, we’ve transformed our executive team, restructured commercial operations, and sharpened our sales strategy with a targeted, jurisdictional approach. These decisive actions position us to drive growth and capture market opportunities with greater precision and impact. Under new leadership, we’ve built a strong pipeline of tier 1 opportunities across key markets and key products, positioning Bragg for accelerated top- and bottom-line growth.
“With the strategic review process now complete, Bragg is now fully focused on commercialization and unlocking profitable growth, without the need for significant new investment in product development. Our decade-long investments in technology and talent, combined with a robust leadership team, have built a scalable platform that uniquely positions us for aggressive growth in 2025 and beyond. With significant operating leverage now within reach, we’re poised for an exciting, high-growth, and profitable future.”
Third Quarter 2024 and Recent Business Highlights
-
Launched its newest games and Remote Gaming Server (RGS) technology with Caesars Digital in
Pennsylvania andOntario . The launch marked the expansion of Bragg’s existing partnership with Caesars Digital, following earlier launches inNew Jersey andMichigan respectively, doubling the number of states/provinces in which Bragg content is offered on Caesars Palace Online Casino and Caesars Sportsbook & Casino. -
Launched its newest games and RGS technology with FanDuel in
New Jersey , adding to its existing distribution with the leading North American operator inMichigan ,Pennsylvania ,Connecticut andOntario -
Post-quarter end, the Company additionally launched its newest games and RGS technology with bet365 in
New Jersey , following on from its second quarter launch inPennsylvania , and an earlier launch inOntario with the major global iGaming operator -
Launched HardRockCasino.nl in the Dutch market, supplying its cutting-edge player account management (PAM) software to the brand. The agreement is Bragg’s 6th PAM customer in
the Netherlands , reinforcing Bragg’s status as the leading technology and content supplier in the Dutch market -
Launched the Kambi sportsbook on 711.nl, adding an additional revenue-generating product stream to a key PAM customer in
the Netherlands - Management is pleased to announce the appointment of Robbie Bressler to CFO of Bragg, effective immediately. Robbie had been serving as Bragg’s interim CFO since July 1, 2024.
Additional September 30, 2024 Key Financial Metrics
-
For the nine-month period ended September 30, 2024, Cash flow generated from operations was
EUR 8.4 million (USD 9.4 million ), compared toEUR 6.2 million (USD 6.9 million ) for the nine-month period ended September 30, 2023. -
Cash and cash equivalents as of September 30, 2024 was
EUR 11.6 million (USD 13.0 million ) and net working capital, excluding deferred consideration, loans payable, and convertible debt, wasEUR 11.3 million (USD 12.7 million )
Strategic Alternatives Process Concluded
The Bragg Board announced the strategic alternatives process in March 2024 with the formation of a Special Committee, comprised solely of independent members of the Board. The Committee, together with its advisors Oakvale Capital LLP and Blake, Cassels & Graydon LLP, evaluated a wide range of strategic alternatives for maximizing shareholder value including a potential sale or merger of the Company. Bragg solicited interest from a significant number of potential counterparties and received multiple non-binding proposals.
After careful consideration, the Board, on recommendation from the special committee, unanimously determined that none of the proposals received reflect the Company’s intrinsic value or current and projected financial performance, and therefore elected to conclude its review and disband the Special Committee.
Don Robertson, independent Board member and Chair of the Special Committee, said, “After a comprehensive and exhaustive process, the Committee recommended, and the Board unanimously agreed, that continuing to execute Bragg’s strategic plan as an independent public company is the best approach for maximizing shareholder value. Although the process has now concluded, Bragg’s Board will continue to be open to and consider all opportunities for enhancing shareholder value.”
“Over the past year, our financial performance, cashflow generation and revenue outlook have significantly improved. We remain extremely confident about our business plan, operating strategy, and financial prospects” said Matevz Mazij, Chairman and CEO of Bragg.
Reiterates Full Year 2024 Guidance and 2025 Outlook
Bragg reiterates its 2024 full year revenue guidance range of
Bragg is actively advancing a robust pipeline of opportunities that is anticipated to drive strong momentum as we enter 2025. The outlook for 2025 remains positive, with expectations of sustained double-digit top line growth, expanding bottom line margins, and increased operational leverage, further strengthening Bragg’s position in the market. The preceding guidance and outlook constitute forward-looking information within the meaning of applicable securities laws, and is based on a number of assumptions and subject to a number of risks.
Investor Conference Call
The Company will host a conference call today, November 14, 2024, at 8:30 a.m. Eastern Time, to discuss its third quarter 2024 results. During the call, management will review a presentation that will be made available to download 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: 2654367
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 November 21, 2024, following the conclusion of the live call. To access the replay, dial + 1 (647) 362-9199 or +1 (800) 770-2030 (toll-free) or +44 20 3433 3849 (
Cautionary Statement Regarding Forward-Looking Information
This news release contains forward-looking statements or “forward-looking information” within the meaning of applicable Canadian securities laws (“forward-looking statements”), including, without limitation, statements with respect to the following: the Company’s strategic growth initiatives and corporate vision and strategy; financial guidance for 2024, expected performance of the Company’s business; expansion into new markets, our strategy for customer retention, growth, product development, and market position; expected future growth and expansion opportunities; expected benefits of transactions; expected future actions and decisions of regulators and the timing and impact thereof. Forward-looking statements are provided for the purpose of presenting information about management’s current expectations and plans relating to the future and allowing readers to get a better understanding of the Company’s anticipated financial position, results of operations, and operating environment. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or describes a “goal”, or variation of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.
All forward-looking statements contained in this news release or the conference call reflect the Company’s beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company’s forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements. The key assumptions that have been made in connection with the forward-looking statements include the regulatory regime governing the business of the Company; the operations of the Company; the products and services of the Company; the Company’s customers; the growth of Company’s business, meeting minimum listing requirements of the stock exchanges on which the Company’s shares trade; the integration of technology; and the anticipated size and/or revenue associated with the gaming market globally.
Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the following: risks related to the Company’s business and financial position; that the Company may not be able to accurately predict its rate of growth and profitability; risks associated with general economic conditions; adverse industry events; future legislative and regulatory developments; the inability to access sufficient capital from internal and external sources; the inability to access sufficient capital on favourable terms; realization of growth estimates, income tax and regulatory matters; the ability of the Company to implement its business strategies; competition; economic and financial conditions, including volatility in interest and exchange rates, commodity and equity prices; changes in customer demand; disruptions to our technology network including computer systems and software; natural events such as severe weather, fires, floods and earthquakes; any disruptions to operations as a result of the strategic alternatives review process; and risks related to health pandemics and the outbreak of communicable diseases. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise, except in accordance with applicable securities laws.
Non-IFRS Financial Measures
Statements in this news release make reference to “Adjusted EBITDA”, which is a non-IFRS (as defined herein) financial measure that the Company believes is appropriate to provide meaningful comparison with, and to enhance an overall understanding of, the Company’s past financial performance and prospects for the future. The Company believes that “Adjusted EBITDA” provides useful information to both management and investors by excluding specific expenses and items that management believe are not indicative of the Company’s core operating results. “Adjusted EBITDA” is a financial measure that does not have a standardized meaning under International Financial Reporting Standards (“IFRS”). As there is no standardized method of calculating “Adjusted EBITDA”, it may not be directly comparable with similarly titled measures used by other companies. The Company considers “Adjusted EBITDA” to be a relevant indicator for measuring trends in performance and its ability to generate funds to service its debt and to meet its future working capital and capital expenditure requirements. “Adjusted EBITDA” is not a generally accepted earnings measure and should not be considered in isolation or as an alternative to net income (loss), cash flows or other measures of performance prepared in accordance with IFRS. Adjusted EBITDA is more fully defined and discussed, and reconciliation to IFRS financial measures is provided, in Company’s Management’s Discussion and Analysis (“MD&A”) for the three-month and six-month period ended September 30, 2024.
About Bragg Gaming Group
Bragg Gaming Group (NASDAQ: BRAG, TSX: BRAG) is an iGaming content and turnkey technology solutions provider serving online and land-based gaming operators with its proprietary and exclusive content, and cutting-edge technology. Bragg Studios offer high-performing and passionately crafted casino game titles using the latest in data-driven insights from in-house brands including Wild Streak Gaming, Atomic Slot Lab and Indigo Magic. Its proprietary content portfolio is complemented by a cross section of exclusive titles from carefully selected studio partners under the Powered By Bragg program. Games built on Bragg’s remote games server (Bragg RGS) technology are distributed via the Bragg Hub content delivery platform and are available exclusively to Bragg customers. Bragg’s flexible, modern, omnichannel Player Account Management (PAM) platform powers multiple leading iCasino and sportsbook brands and at all points is supported by expert in-house managed, operational, and marketing services. Content delivered via the Bragg Hub either exclusively or from the Bragg aggregated games portfolio is managed from a single back-office which is supported by powerful data analytics tools, and Bragg’s award-winning Fuze™ player engagement toolset. Bragg is licensed, certified, approved and operational in many regulated iCasino markets globally, including the
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Financial tables follow:
BRAGG GAMING GROUP INC. |
||||||||||||||||
INTERIM UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF LOSS AND COMPREHENSIVE LOSS |
||||||||||||||||
(In thousands, except share and per share amounts) |
||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
Three Months Ended September 30, |
|
Nine Months Ended September 30, |
||||||||||||
|
|
2024 |
|
2023 |
|
2024 |
|
2023 |
||||||||
Revenue |
|
|
26,169 |
|
|
|
22,574 |
|
|
|
74,841 |
|
|
|
70,162 |
|
Cost of revenue |
|
|
(12,167 |
) |
|
|
(10,718 |
) |
|
|
(36,558 |
) |
|
|
(32,260 |
) |
Gross Profit |
|
|
14,002 |
|
|
|
11,856 |
|
|
|
38,283 |
|
|
|
37,902 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Selling, general and administrative expenses |
|
|
(14,829 |
) |
|
|
(13,047 |
) |
|
|
(40,918 |
) |
|
|
(38,035 |
) |
Gain (Loss) on remeasurement of derivative liability |
|
|
46 |
|
|
|
(82 |
) |
|
|
(94 |
) |
|
|
(261 |
) |
Gain on settlement of convertible debt |
|
|
104 |
|
|
|
231 |
|
|
|
169 |
|
|
|
435 |
|
Gain (Loss) on remeasurement of deferred consideration |
|
|
271 |
|
|
|
(1,095 |
) |
|
|
(329 |
) |
|
|
(387 |
) |
Operating Loss |
|
|
(406 |
) |
|
|
(2,137 |
) |
|
|
(2,889 |
) |
|
|
(346 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Net interest expense and other financing charges |
|
|
(848 |
) |
|
|
(450 |
) |
|
|
(2,370 |
) |
|
|
(1,414 |
) |
Loss Before Income Taxes |
|
|
(1,254 |
) |
|
|
(2,587 |
) |
|
|
(5,259 |
) |
|
|
(1,760 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Income taxes |
|
|
1,089 |
|
|
|
(364 |
) |
|
|
790 |
|
|
|
(1,290 |
) |
Net Loss |
|
|
(165 |
) |
|
|
(2,951 |
) |
|
|
(4,469 |
) |
|
|
(3,050 |
) |
Items to be reclassified to net loss: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Cumulative translation adjustment |
|
|
(1,002 |
) |
|
|
(611 |
) |
|
|
(998 |
) |
|
|
(1,754 |
) |
Net Comprehensive Loss |
|
|
(1,167 |
) |
|
|
(3,562 |
) |
|
|
(5,467 |
) |
|
|
(4,804 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Basic Loss Per Share |
|
|
(0.01 |
) |
|
|
(0.13 |
) |
|
|
(0.19 |
) |
|
|
(0.14 |
) |
Diluted Loss Per Share |
|
|
(0.01 |
) |
|
|
(0.13 |
) |
|
|
(0.19 |
) |
|
|
(0.14 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
|
Millions |
|
|
Millions |
|
|
Millions |
|
|
Millions |
||||
Weighted average number of shares - basic |
|
|
25.0 |
|
|
|
23.3 |
|
|
|
24.0 |
|
|
|
22.3 |
|
Weighted average number of shares - diluted |
|
|
25.0 |
|
|
|
23.3 |
|
|
|
24.0 |
|
|
|
22.3 |
|
BRAGG GAMING GROUP INC. |
||||||||
INTERIM UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION PRESENTED IN EUROS (THOUSANDS, EXCEPT SHARE AND PER SHARE AMOUNTS) |
||||||||
|
|
|
|
|
|
|
||
|
|
As at |
|
As at |
||||
|
|
September 30, |
|
December 31, |
||||
|
|
2024 |
|
2023 |
||||
Cash and cash equivalents |
|
|
11,569 |
|
|
|
8,796 |
|
Trade and other receivables |
|
|
18,650 |
|
|
|
18,641 |
|
Prepaid expenses and other assets |
|
|
2,743 |
|
|
|
1,655 |
|
Total Current Assets |
|
|
32,962 |
|
|
|
29,092 |
|
Property and equipment |
|
|
1,057 |
|
|
|
640 |
|
Right-of-use assets |
|
|
2,781 |
|
|
|
3,233 |
|
Intangible assets |
|
|
34,769 |
|
|
|
38,133 |
|
Goodwill |
|
|
31,764 |
|
|
|
31,921 |
|
Other assets |
|
|
314 |
|
|
|
348 |
|
Total Assets |
|
|
103,647 |
|
|
|
103,367 |
|
|
|
|
|
|
|
|
||
Trade payables and other liabilities |
|
|
19,683 |
|
|
|
21,846 |
|
Income taxes payable |
|
|
1,260 |
|
|
|
917 |
|
Lease obligations on right of use assets |
|
|
722 |
|
|
|
709 |
|
Deferred consideration |
|
|
1,549 |
|
|
|
1,513 |
|
Derivative liability |
|
|
— |
|
|
|
471 |
|
Convertible debt |
|
|
— |
|
|
|
2,445 |
|
Loans payable |
|
|
6,495 |
|
|
|
— |
|
Total Current Liabilities |
|
|
29,709 |
|
|
|
27,901 |
|
Deferred income tax liabilities |
|
|
723 |
|
|
|
852 |
|
Lease obligations on right of use assets |
|
|
2,193 |
|
|
|
2,568 |
|
Deferred consideration |
|
|
— |
|
|
|
1,426 |
|
Other non-current liabilities |
|
|
373 |
|
|
|
373 |
|
Total Liabilities |
|
|
32,998 |
|
|
|
33,120 |
|
|
|
|
|
|
|
|
||
Share capital |
|
|
131,706 |
|
|
|
120,015 |
|
Shares to be issued |
|
|
— |
|
|
|
3,491 |
|
Contributed surplus |
|
|
17,556 |
|
|
|
19,887 |
|
Accumulated deficit |
|
|
(80,532 |
) |
|
|
(76,063 |
) |
Accumulated other comprehensive income |
|
|
1,919 |
|
|
|
2,917 |
|
Total Equity |
|
|
70,649 |
|
|
|
70,247 |
|
Total Liabilities and Equity |
|
|
103,647 |
|
|
|
103,367 |
|
BRAGG GAMING GROUP INC. |
||||||||||||
UNAUDITED SELECTED FINANCIAL GAAP AND NON-GAAP MEASURES |
||||||||||||
(in thousands) |
||||||||||||
|
|
|
|
|
|
|
|
|
||||
|
|
Three Months Ended September 30, |
|
Nine Months Ended September 30, |
||||||||
|
|
2024 |
|
2023 |
|
2024 |
|
2023 |
||||
Revenue |
|
26,169 |
|
|
22,574 |
|
|
74,841 |
|
|
70,162 |
|
Operating loss |
|
(406 |
) |
|
(2,137 |
) |
|
(2,889 |
) |
|
(346 |
) |
EBITDA |
|
3,924 |
|
|
1,209 |
|
|
9,312 |
|
|
8,963 |
|
Adjusted EBITDA |
|
4,083 |
|
|
3,814 |
|
|
11,109 |
|
|
12,450 |
|
View source version on businesswire.com: https://www.businesswire.com/news/home/20241114956792/en/
For media enquiries or interview requests, please contact:
Robert Simmons,
Head of Communications at Bragg Gaming Group
Investors:
James Carbonara
Hayden IR
+1 (646)-755-7412
james@haydenir.com
Source: BRAGG GAMING GROUP INC.
FAQ
What was Bragg Gaming's (BRAG) revenue in Q3 2024?
What was the outcome of Bragg Gaming's (BRAG) strategic review in 2024?
What is Bragg Gaming's (BRAG) revenue guidance for 2024?
