Jumbo Interactive reports 25% revenue increase for FY22
Lottery retailer Jumbo Interactive has seen its full year revenue rise to AU$104.3m (US$72.8m), largely consistent with expectations published in July.
When compared to last year’s AU$83.3m, Jumbo has recorded a 25% top-line increase, which has in turn driven double-digit growth across most metrics.
Underlying EBITDA experienced a 13% rise, climbing to AU$55.1m, while Jumbo’s net profit after tax came to AU$32.2m, up year-on-year from AU$28.3m.
Broken down, lottery retailing generated AU$91m in full year revenue, or more than 85% of Jumbo’s total top line. This also constitutes a 27% increase year-on-year, which Jumbo attributed to an “improved” domestic jackpot environment.
There were 43 Powerball and OzLotto jackpots greater than or equal to AU$15m during FY22 when compared to 38 for FY21. The year also benefitted from a AU$120m Powerball jackpot in February, the first to exceed AU$100m since September 2019.
Meanwhile, Software-as-a-Service (SaaS) produced AU$42.7m and managed services AU$4.8m. Jumbo said its headline revenue of AU$104.3m was recorded after AU$34.4m of “intersegment” revenue was eliminated.
“We are pleased with the strong growth achieved in FY22 off the back of an improved jackpot cycle,” said Mike Veverka, Jumbo’s CEO and Founder.
“FY22 was a pivotal year for Jumbo as we build the foundations to successfully execute our global growth strategy.
“Lottery retailing is exceptionally well positioned to benefit from the ongoing shift to digital and the new OzLotto game launched in May 2022, while the integration of Stride and StarVale will build scale in our managed services and SaaS segments globally.”
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