Bragg Gaming Group Q2 2024 Earnings Report Record Revenue and Strategic Expansion

Bragg Gaming Group Q2 2024 Earnings Report: Record Revenue and Strategic Expansion

Overview Bragg Gaming Group (BRAG, BRAG), a global B2B content-driven iGaming technology provider, announced its financial results for the second quarter of 2024, reporting record revenue for the quarter.

Key Financial Metrics

Interpretation : Bragg Gaming Group achieved a record revenue of USD 26.6 million in Q2 2024, a 0.5% increase year over year and a 4.4% increase quarter over quarter, reflecting robust performance. However, the revenue slightly missed the consensus estimate of USD 28.24 million. EPS data for the quarter was not provided.

Segment Performance

Interpretation : The company provided qualitative data indicating strong momentum in its proprietary iGaming content, particularly in North America, and continued expansion in its PAM and turnkey solutions, which aligns with its strategic goals.

Operational Data

Summary of Comments from Company's Officers CEO Matevž Mazij stated that despite changes in the product mix, the company achieved sequential growth in revenue, gross profit, and Adjusted EBITDA. He emphasized the strategic expansions and optimistic outlook for future growth, particularly in the U.S. iGaming market, and the continued global reach.

Dividends or Share Repurchase Programs No information on announced dividends or share repurchase programs was provided.

Forward Guidance Bragg Gaming reiterated its full-year 2024 revenue guidance range of EUR 102.0-109.0 million (USD 109.1-116.6 million) and its full-year Adjusted EBITDA range of EUR 15.2-18.5 million (USD 16.3-19.8 million), anticipating tracking to the lower end.

Stock Price Movement Following the earnings release, Bragg Gaming's stock experienced a slight decline of -0.38%.

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This concise earnings summary provides a comprehensive overview based on the provided financial and operational data, maintaining professional tone and accuracy.