Bragg Gaming reports Q4 revenue EUR 23.7M vs. EUR 15.8M last year

"Bragg concluded a transformational 2022 with another quarter of record results, as fourth quarter revenue, gross profit and Adjusted EBITDA grew significantly compared to the fourth quarter of 2021 and exceeded our prior expectations," said Yaniv Sherman, CEO for Bragg. "In the fourth quarter of 2022, we generated year over year revenue growth of 50.3% to EUR 23.7 million (US $25.5 million), a 61.6% increase in gross profit to EUR 13.0 million (US $14.0 million), a 390-basis point improvement in gross profit margin to 54.9%, and a 128.3% increase in Adjusted EBITDA to EUR 3.6 million (US $3.9 million). These record results highlight Bragg’s ongoing substantial momentum as we continue to successfully diversify our operations from serving primarily central-European iGaming markets to become a global, content-led, iGaming solutions provider with extensive distribution across North America and Europe. Our successful execution on our operating priorities is also evident in our record full year results, as revenue, gross profit and Adjusted EBITDA grew 45.3%, 59.2% and 64.0%, respectively, over the 2021 full year period."