Acroud has reported revenue of €7m ($7.4m) for the first quarter of 2022, a 26% year-on-year increase, and a 7% quarter-on-quarter increase.

Adjusted EBITDA for the period grew 13% to €1.8m, while New Depositing Customers increased by 6% to 33,538. Profit after tax amounted to €1.2m, up 28% year-on-year, with cash flow from operating activities amounting to €1.5m.

“We have developed Acroud from a conventional player with comparison sites to a fast-moving challenger in the space of not only iGaming Affiliation but also B2B SaaS Solutions,” said Acroud CEO Robert Andersson.

“Representing renewed stability and profitability, Q1 2022 has been a solid quarter of harvesting the fruits of the strategic steps and well-executed plans implemented in the previous year; although admittedly it took longer than all of us wanted. With a leaner and more agile team, the knowledge, assets, and cost base we now have in place, I’m excited to see that we have reached the desirable foundation to accelerate revenue growth and return to consistently positive performance.”

A notable event within the period included the group divesting its finance affiliation assets in March for $575,000, with the divestment aligning with Acroud’s strategy to be the preferred digital affiliation partner within the iGaming market.

Andersson added: “It’s been a long journey revitalising and reshaping the company; therefore, it is gratifying to see this turnaround. The results reaffirm our strong start into the financial year, proving that Acroud is on the right track to deliver significant growth in both profit and revenue in 2022 and beyond.”