Published
FinancialResults

Playmaker Capital reports 83% Q3 revenue rise

Playmaker Capital has reported revenue of $8.8m for the third quarter of 2022, an 83% increase from the prior-year period.

playmaker q3 2022 1
Listen To Article

Operating loss for Q3 2022 was $0.4m, compared to operating income of $1m in Q3 2021. Adjusted EBITDA for the period was $2.7m in Q3 2022, down 17% from the prior-year period.

As of 30 September 2022, cash and cash equivalents were $14.0m, compared to $2.5m as of 30 June 2022.

Including the results of Wedge Traffic, the affiliate Playmaker acquired in October, pro forma Q3 revenue was $10.1m. You can read an interview with Playmaker regarding this acquisition in the upcoming December edition of Trafficology.

“We are very proud to announce another strong quarter of revenue growth and profitability,” said Playmaker CEO Jordan Gnat. “Our vertical focus on sports, continued momentum of direct sales, organic audience growth, differentiated content, and diversified revenue streams, are serving us very well. 

“Our acquisition of Wedge Traffic in October was a bullseye. We identified the need to add meaningful affiliate revenue and now we have the team and the business that can deliver that at scale. We remain on track, continue to deliver strong results, and we are looking forward to Q4 and the FIFA World Cup.”

Playmaker noted several operation highlights for the third quarter of 2022, including record engagement metrics across its owned and operated web properties, reaching a monthly high of 95 million users and generating 715 million sessions in the quarter.

These figures represent year-on-year increases of 30% and 55% respectively.

Playmaker CFO Mike Cooke commented: “We remained sharply focused on profitability during Q3. Our operating segments produced $2.3m of adjusted EBITDA in the quarter on an IFRS basis and $2.7m on a pro forma basis. Our organic growth remains strong, as shown by the 20% growth in pro forma revenue compared to Q3 2021.

“Meanwhile, the $20m convertible debt facility that we closed during Q3 provides significant additional capital to continue pursuing acquisitive growth opportunities as they arise. As we look ahead to Q4 and beyond, we are excited to continue building on the momentum we have generated in the first nine months of 2022.”

Premium+ Connections
Premium

Galaxsys

 
Premium

Sport Generate

 
Premium

RISK

 
Premium

GammaStack

 
 
Premium

Revsharks

 
Premium

Lynon

 
Premium

PIN-UP Partners

 
Premium

1xBet Partners

 
Premium

Imagine Live

 
Premium

Digitain

 
Premium Connections
Consultancy

SCCG Management

Executive Profiles
Zeal Network SE

Stefan Tweraser

VIP Play

Les Ottolenghi

Scientific Games

Keshav Pitani

Social & App

Spribe CEO exclusive: Simplicity is the foundation

Spribe CEO David Natroshvili speaks to Gambling Insider abou...

Redefining iGaming: A history of crash games

Crash games is a growing vertical that has taken gambling by...

A certain something: What makes crash games special?

Crash games. They’re simple, they’re easy to learn and,...

Smarter innovation to shape the future

Spribe CCO Giorgi Tsutskiridze discusses the past, present a...

Facing Facts: The corner of quarterly contemplation

With Q1 reports out across the industry, Gambling Insider co...

Taking Stock: A guide to key stock prices across the industry

Gambling Insider tracks prices from some of the industry’s...

15 years of Gambling Insider: From the Founders

Over the last 15 years, Gambling Insider magazine has interv...

15 years of Gambling Insider: The Awards over time

Global Gaming Awards Event Manager Mariya Savova gives us he...