GiG generates record-high revenue of over €28m in Q1 2023

GiG generates record-high revenue of over €28m in Q1 2023

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GiG generates record-high revenue of over €28m in Q1 2023

GiG’s recent financial analysis has revealed that the firm’s revenue has surpassed its all-time high.

The headline figure of 28.4 million euros is nearly 50% higher than the firm’s revenue in the first quarter of the prior year, which was recorded at just over 19 million euros. GiG also added that 19% of this increase is organic growth.

The increased revenue led to an ever larger jump in the firm’s EBITDA figure, which went from 2022’s 6.6 million euros to over 11.7 million euros this year, representing a 75% difference. The company’s adjusted EBITDA margin went up as well, increasing from 35% to just over 41%.

GiG also reported increases in its earnings before interest and taxes, which nearly doubled year-over-year, going from 2.9 million euros to 5.6 million euros.

Breaking down the statistics by the company’s operations, its sportsbook and interface solutions saw the largest increase, doubling from the prior year’s 5 million euros of revenue to 10 million euros. GiG’s media division saw a smaller increase of just over 30% from 14 million euros to 18.4 million euros.

The firm also shared some of its operating highlights that occurred in the period in the report, with one of the most noteworthy ones being the acquisition of AskGamblers, which was finalized at the end of January and had an immediate positive impact on the company. GiG also expanded its worldwide presence with over a dozen new collaborations and a few new operating licenses.

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