B90 Holdings has reported its financial results for the first half of 2024. In total, revenue for the business totalled €1.4m ($1.6m), up 83% year-on-year, while net loss reduced from €1.8m to €0.3m. For the period, EBITDA came to €0.2m, up from a loss of €1.3m last year.
The results follow B90’s shift towards a B2B model from its previous B2C model. This shift, which came into full effect near the end of 2023, saw a relaunch of its Bet90.com brand as a B2B affiliate, using subsidiary brands including Emwys, Oddsen.nu and Tippen4you for lead generation via SEO and other methods. We spoke to Executive Chairman Ronny Breivik on the matter in the April edition of Trafficology.
Oddsen.nu, which the business acquired last September, began global affiliate operations in April. Since then, Oddsen.nu launched its King of Euro 2024 competition, aiming to enhance user engagement with the event with a €9,000 grand prize. This competition specifically was mentioned in B90's H1 results report as ‘an excellent opportunity to engage with key audiences.’
Looking closer at the H1 results, one factor that impacted net loss was a reduction in other administrative expenses, which went from €0.9m in H1 2023 to €0.3m in H1 2024. Marketing and selling expenses also reduced significantly from €0.4m to €0.2m.
On the results, Breivik said: “This has been a transformational six months for B90, with the Group achieving consecutive months of profitability at the EBITDA level, marking a significant milestone as we build a strong foundation for sustainable growth.
"This EBITDA profitability has continued into the second half, and I am confident that our sustained focus on B2B operations and strategic investments will lead to long-term growth and value for our shareholders.
“Looking ahead, we are optimistic about the future of B90.”
