Aspire’s Q3 revenue rises to €33.2m as B2B sector boosts growth
Aspire Global generated revenue of €33.2m ($36.9) for Q3, an increase of 16% year-on-year.
The supplier saw its B2B revenue rise 40% to €21m, which makes up 63% of overall revenue.
EBITDA dropped 16% to €5.2m, while EBITDA for B2B increased 15% to €4.3m.
Aspire reported earnings after tax of €4.4m, a decrease of 17%.
The company’s share price has declined throughout the year’s third quarter, starting at SEK 43 ($4.50) in July and finishing September at SEK 31.50.
For the year’s first nine months, Aspire made revenue of €99.2m, up 38%, with 61% of that total coming from B2B revenue.
During Q3, the supplier saw its Swedish license extended to 2021, was granted a bingo license by the Gambling Commission and finalised its acquisition of Pariplay for €13.1m.
Tsachi Maimon, Aspire Global CEO, said: “One of our goals for 2019 was to materialise our game assets, preferably through M & A. In the beginning of October, we completed the acquisition of the leading content provider and game aggregator Pariplay that is now being integrated into the group.
“The company generated €7.6m with an EBITDA of €1.2m in the nine-month period and is expected to generate significant growth in 2020, with a positive effect on Aspire Global’s EBITDA as of the fourth quarter 2019.”
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