Published
OnlineFinancialIndustryAffiliateResults

Raketech posts Q3 report, showing 35% growth in revenue

Raketech has posted its Q3 report, which showed revenue growth of 35% – totalling €12.9m (US$12.8m).

Raketech
Listen To Article

Furthermore, adjusted EBITDA increased by 9% from 2021 to €4.8m in 2022, while operating profit also increased from €2.3m to €2.9m – representing 22% growth.

Based on Raketech’s Q3 numbers, things are looking good for the Malta-based iGaming affiliate and only get better when looking at the figures for the whole year.

Since January, the business has reported revenue of €36.9m, which is 29% higher than at this point last year when it showed revenue of €26.6m. Meanwhile, its adjusted EBITDA has increased by 26%, posting €13.8 in 2022 against €11m for the same period last year.

Oskar Mühlbach, CEO of Raketech, commented on the report, saying: “As expected, activity picked up during the third quarter, driven by seasonality and a continuous positive momentum within our core affiliation segment as well as additional growth from our new business segment, AffiliationCloud.

“Revenues totalled €13.0m, corresponding to 35% growth year over year and 15% growth compared to the previous quarter. Despite the annual comparison still being affected by this year’s regulatory headwinds on the Finnish and Dutch markets, as well as by tough comparison with Covid-boosted numbers last year, Raketech Group delivered organic growth of 14%.

“The US business mix, in combination with a higher share of sub-affiliation has naturally had a somewhat dampening effect on the EBITDA margin in the quarter. With that said, our EBITDA grew 17% year over year totalling €4.8m, representing an EBITDA margin of 37%.”

Industry News Sponsor
Premium+ Connections
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium Connections
Executive Profiles
Interblock
Caesars Entertainment
Pragmatic Play
Flutter Entertainment

Global Gaming Awards London: Who will win Executive of the year 2023?

Gambling Insider takes a look at the nominations list for 20...

CEO Special: Flutter International CEO Dan Taylor returning to roots

Flutter International CEO Dan Taylor meets Louis Thompsett t...

CEO Special: Light & Wonder Gaming CEO Siobhan Lane - optimising superpowers

Siobhan Lane, Light & Wonder Gaming CEO, speaks to Gambling...

CEO Special: Hoiana Resorts' Steve Wolstenholme – the travel man

Hoiana President & CEO Steve Wolstenholme talks to Gambling...

Read Magazine