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01/11 16:19
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Access earnings results, analyst expectations, report, slides, earnings call, and transcript.
The earnings call highlights strong financial performance with significant revenue and profit growth, especially in wagering and strategic acquisitions. The company's focus on cost efficiencies, operational optimization, and expansion strategy further supports a positive outlook. The Q&A session did not reveal any major concerns, and the optimistic guidance for Q4 suggests continued growth. These factors indicate a likely strong positive stock price movement over the next two weeks.
Consolidated Revenues Q3 2024 $41 million, up 85% year-over-year due to broad-based growth across key markets.
Year-to-Date Revenue $105 million, up 55% year-over-year.
Consolidated Gross Profit Q3 2024 $22.4 million, up 39% year-over-year.
Year-to-Date Gross Profit $61.8 million, up 24% year-over-year.
Consolidated Adjusted EBITDA Q3 2024 $4.3 million, impacted by one-off costs from acquisitions.
Cash and Equivalents $38.4 million as of September 30, 2024.
Short Term Debt $17.5 million.
Shareholder Equity $94 million, up 60% year-over-year.
Wagering Q3 2024 $1.4 billion, up 84% year-over-year.
Year-to-Date Wagering $3.6 billion, up 115% year-over-year.
Gross Profit Margin Q3 2024 (GMAG) 26.2%, up from 24.7% in Q2 2024.
Classics for a Cause Revenue Contribution $2.1 million in revenues for two months of the quarter.
Classics for a Cause EBITDA Contribution $503,000 for two months of the quarter.
Classics for a Cause Profit Contribution $253,000 for two months of the quarter.
Active Players (Mixed Play) Q3 2024 14,000, up 56% from 9,000 in Q2 2024.
Cash Deposits (Mixed Play) Q3 2024 $1.5 million, up 25% from $1.2 million in Q2 2024.
Gross Gaming Wagering (Mixed Play) Q3 2024 $15 million, up 67% from $9 million in Q2 2024.
Gross Gaming Revenue (Mixed Play) Q3 2024 $575,000, up 36% from $422,000 in Q2 2024.
Merdianbet Total Revenue Q3 2024 Increased by 16% year-over-year.
Merdianbet Online Segment Revenue Growth 19% increase year-over-year.
Merdianbet Retail Segment Revenue Growth 6% increase year-over-year.
Merdianbet Total Deposits Q3 2024 $61.9 million, up 13% from Q2 2024.
Merdianbet New Online Registrations 125,000, a 23% year-over-year growth.
Merdianbet Online Casino GGR Margin Q3 2024 3.37%, up from 2.22% year-over-year.
Merdianbet Quarterly Turnover Q3 2024 $356.4 million, a 21% year-over-year increase.
Merdianbet Sports Betting Revenue Growth 7.4% increase year-over-year.
Retail Slot Machine Revenue Growth 17.5% year-over-year increase.
Expanse Studios Revenue Growth 167% increase year-over-year.
Active Player Base (Expanse Studios) September 2024 135,000, a 135% increase year-over-year.
Total Spins (Expanse Studios) September 2024 $72.3 million, twice the count from Q3 2023.
New Product Launch: The introduction of the new Crash game category has been highlighted as a significant development in iGaming, with a diverse range of popular Crash games added to the portfolio.
Acquisition Impact: The acquisition of Classics for a Cause is expected to deliver solid revenues and added profits, contributing $2.1 million in revenues and $503,000 in EBITDA for only two months of operation.
Market Expansion: The Mexican online casino, Mixed Play, has shown significant growth with a 56% increase in active players and a 25% rise in cash deposits.
Brazilian License Progress: Meridian Gaming Brazil has advanced in the licensing process, positioning itself among 89 companies selected at the federal level for sports betting and iGaming.
Operational Efficiency: The company is focused on implementing cost efficiencies and rationalization, reducing overall costs through product synergies and removing redundancies.
Sales and Marketing Optimization: Improvements in sales and marketing strategies are being implemented to enhance distribution and increase sales with improved margins.
Strategic Shift: The company is committed to a strategy of scaling the business and maintaining a strong balance sheet, with a focus on pursuing accretive acquisitions.
Market and Economic Conditions: The company acknowledges that its forward-looking statements are based on various assumptions about future events, including market and economic conditions, which are subject to risks and uncertainties that could cause actual results to differ materially.
Regulatory Issues: The company is involved in the licensing process for its Brazilian entity, Meridian Gaming Brazil, which is still ongoing and could pose risks if not completed successfully.
Competitive Pressures: The iGaming industry is highly competitive, and the company faces challenges in maintaining its market position amidst evolving trends and innovations.
Supply Chain Challenges: There were residual one-off costs due to the completion and implementation of the Merdianbet acquisition and the recent acquisition of Classics for a Cause, indicating potential supply chain or integration challenges.
Operational Efficiency: The company is focused on implementing cost efficiencies and rationalization across its operations, which suggests that there are existing inefficiencies that need to be addressed.
Classics for a Cause Acquisition: Finalized acquisition expected to deliver solid revenues and added profits.
Operational Efficiency: Focus on implementing cost efficiencies and rationalization across the company.
Sales and Marketing Optimization: Improving sales and marketing through broader distribution and increased efforts.
Global Operations Optimization: Implementing tighter cost controls and maximizing efficiency.
Q4 Revenue Expectations: Strong start to Q4, on track to set new records.
Future Growth Strategy: Confident in future prospects with a clear strategy and strong balance sheet.
Debt Management: Well positioned to settle debts as needed.
Acquisitions: Pursuing accretive acquisitions to support growth.
Shareholder Equity Growth: Shareholder equity of the company grew 60% to $94 million.
Cash and Equivalents: As of September 30th, the company had over $38.4 million in cash and equivalents.
Short Term Debt: Short term debt of only $17.5 million.
Classics for a Cause Contribution: Classics for a Cause division contributed $2.1 million in revenues, $503,000 in EBITDA, and $253,000 in profit for only two months of the quarter.
The earnings call highlights significant revenue growth and strong performance in various segments, despite a net loss due to acquisition-related costs. The Q&A reveals strategic market expansion plans and optimistic revenue guidance, which are positive indicators. The shareholder return plan emphasizes value maximization, enhancing investor confidence. However, management's vague responses on competitive pressures and net loss drivers introduce some uncertainty. Overall, the strong revenue growth, optimistic guidance, and strategic focus on high-margin offerings suggest a positive stock price movement in the short term.
The earnings call highlights strong financial performance with significant revenue and profit growth, especially in wagering and strategic acquisitions. The company's focus on cost efficiencies, operational optimization, and expansion strategy further supports a positive outlook. The Q&A session did not reveal any major concerns, and the optimistic guidance for Q4 suggests continued growth. These factors indicate a likely strong positive stock price movement over the next two weeks.
All transcripts are sourced directly from the official live webcast or the company’s official investor relations website. We use the exact words spoken during the call with no paraphrasing of the core discussion.
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When audio quality is poor or multiple speakers talk over each other, we mark the section instead of guessing. This ensures complete accuracy rather than introducing potential errors.
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