For Q4, NeoGames saw a 54% increase in revenue, with $12.3m made in the same period for 2021 (the stark contrast is mainly due to mergers, as explained later on).
Its net loss of $800,000 was significantly less than the $3.6m from the year before, while its adjusted EBITDA was up 129% for 2022 at $18.1m.
For the year, the company reported revenue of $165.7m – up from 2021’s $50.5m. Net loss came in at $19m and its adjusted EBITDA totalled $54.5m against $33.4m for the year prior.
The reason behind NeoGames’ strong financial performance in 2022 comes from its NPI agreement with Pollard Banknote, acquiring Aspire Global, signing six new deals with Pariplay and launching its iLottery and sports betting offering through Intralot in Brazil.
Moti Malul, CEO of NeoGames, said of the findings: “We significantly evolved our business through our acquisition of Aspire Global, expanding beyond our position as a leader in global iLottery solutions and propelling us to becoming a global leader in providing technology and content solutions across iLottery, online sport betting and iGaming.
“Our results underscore the advantage of our ability to serve customers on an integrated basis, whether they need solutions for iLottery, online sports betting, iGaming, or any combination of services.
"We ended the year by growing our iLottery revenue by 33% during the fourth quarter and our iGaming revenue by 27% as measured on a constant currency pro forma basis from the prior year."