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FinancialMarketingIndustry

Raketech Q2 results show revenue growth of 25%

IGaming performance marketing partner, Raketech, has realeased its Q2 and H1 financial results for the fiscal quarter ending 30 June 2021. 

raketech

The company's second quarter highlights show an increase of 25% in quarterly revenue of €8.8m ($10.3m), compared to the same period the prior-year.

New Depositing Customers (NDCs) amounted to 34,839, representing a decrease of 14.7%, from 40,847.

Adjusted EBITDA increased from €2.8m in Q2 2020 to €3.4m in Q2 2021 – corresponding to a margin of over 38%, in line with the previous quarter. The profit for the period amounted to €1.2m.

For the first half of the year, Raketech's revenues totalled €17.1m – an increase of almost 26%. Operating profit amounted to €3.2m, compared to €2.9m in the first half of 2020. Adjusted EBITDA recovered from a loss of €5.5m to reach €6.6m.

“The strong numbers from outside of the Nordics made our non-Nordic revenues increase as share of total. Total non-Nordic revenues amounted to 39%, compared to 35% previous quarter and 19% the previous year. The development is in line with our ambition to increase our global footprint," said Raketech's CEO, Oskar Mühlbach.

"We will continue to deliver on our growth strategy which includes product diversification, geographical expansion, increased monetisation though R&D as well as M&A, with a specific focus on the US," Mühlbach added.

Following the end of the period, Raketech has recently strengthened its sports portfolio with the acquisitions of P&P Vegas Group Inc and QM Media.

The company also announced the acquisition of the Spanish-based casino affiliate marketing company, Infinileads SL, in a bid to expand its services to Latin America markets in addition to Spain, Italy and Portugal.

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