Bragg Gaming reports Q3 revenue $24M, consensus $33.61M

“Bragg’s initiatives to position the business as a leading content-driven iGaming B2B provider as well as our disciplined expense management combined to drive growth in third quarter revenue, gross profit and Adjusted EBITDA, as well as a quarterly Adjusted EBITDA margin of 16.9%,” said Matev Mazij, Chief Executive Officer for Bragg. “Third quarter year over year revenue rose 8% to EUR 22.6 million (USD $24.0 million), gross profit increased 13.5% to EUR 11.9 million (USD $12.6 million) and Adjusted EBITDA increased more than 70% to EUR 3.8 million (USD $4.0 million). These results reflect, in part, a revenue mix shift to higher-margin products including in-house created proprietary content, exclusive third-party content, and turn-key Player Account Management (“PAM”) and managed services partnerships, alongside our ongoing cost control actions.”