Bragg Gaming sets new revenue record in Q2
Bragg Gaming’s Q2 revenue experienced an increase of almost 19%.
The company’s revenue was recorded at just under 25 million euros, up from last year’s revenue of 21 million euros. This led to a similar increase in the developer’s gross profits, which went from 11.6 million euros to 13.8 million euros. The company’s gross profit margin, however, stayed the same year-over-year at just under 56%.
This led to an EBITDA of 4.7 million euros in the second quarter, up by more than 50% from last year’s 3.1 million euros. Bragg’s H1 2023 EBITDA experienced a smaller increase of 38%, going from 6.2 million to 8.6 million euros. The company’s EBITDA margin experienced a slight increase as well, going from 15% to 19% in the period.
Bragg Gaming also noted that its net income experienced a sizable increase, going from just 90 thousand euros to 377 thousand euros. The company’s net income for the first half of the year experienced a similar increase, however, it was in the negatives at a loss of 99 thousand euros, up from last year’s loss of 630 thousand euros.
Other noteworthy things highlighted by the report apart from the main figures included the company’s recent collaborations with PokerStars and 888 Holdings, both of which gave the company an excellent set of opportunities to expand its presence in numerous international markets.