XLMedia anticipates 38% revenue rise for H1

XLMedia has published a trading update, outlining an anticipated $44.5m in revenue for H1, among other performance predictions.

xlmedia plc h1 results gambling insider web image

For the first half of 2022, the company foresees a 38% revenue rise when compared to last year’s $32.2m, while it anticipates adjusted EBITDA will climb by an even more considerable 59%.

Buoyed by its newest vertical, US Sports, XLMedia said it has traded well over the six-month period, likely explaining the company’s optimistic expectations.

This segment, it said, accounted for over two thirds – or 68% - of the group’s revenue for H1: approximately $30.2m.

XLMedia commented: “The opening of new regulated markets and the signing of new media partnership agreements has allowed the US Sports business to capitalise on the full US sports calendar, in particular the Super Bowl, and deliver strong growth in H1 2022.”

Sports across both North America and Europe, meanwhile, generated $34m, up from last year’s $11.7m for 191% growth.

After this segment, the company’s restructured casino and bingo vertical, otherwise known as gaming, accounted for $8.4m, while personal finance delivered $800,000.

However, according to XLMedia’s projections, these segments have experienced year-on-year revenue declines. Gaming has fallen from $12.5m, while personal finance has fallen from $6.6m.

“Gaming revenues are expected to continue to trade below historic levels, in line with expectations, although the business is now showing signs of stabilising, having suffered from a year-on-year decline in tail revenue,” the company said.

And regarding personal finance, XLMedia added: “The decline results from the need to replace aging technology, re-evaluate marketing tactics and align with best practice.”

XLMedia expects to reports its results for H1 in the week commencing 26 September.

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