March 23, 2023 3 min read


Affiliate Publishes Unaudited Q4 2022 Results

The gambling affiliate is looking forward to 2023, hoping to perform even better than it did in 2022 Group, a provider of iGaming digital marketing services, has posted its unaudited financial results for the fourth quarter of 2022. The company’s revenue skyrocketed and so did its net income. reported $21.3 million for the period, representing a stellar 107% year-on-year increase from Q4 2021’s $10.3 million. Net income increased to $4.4 million, or $0.12 per share.

Adjusted EBITDA sat at $6.85 million, a 202% increase from the $2.2 million recorded in Q4, 2021. The cash flow generated by operating activities was $6.18 billion with a free cash flow of $364,000.

The company also published data about its overall performance in 2022, reporting annual revenue of $76.5 billion. Annual adjusted EBITDA exceeded $24 million with reporting an adjusted EBITDA margin of 31%. Free cash flow for 2022 was $9.46 million, the company noted.

In 2022, saw its NA revenues skyrocket to $10 million, which represents a whopping 364% increase. The year saw the company launch in several new markets and deliver more than 82,000 new depositing customers. was also able to repurchase 38,708 of its ordinary shares for $8.98 per share.

The iGaming provider also published its 2023 guidance, saying that it expects annual revenue of $93-97 million and adjusted EBITDA of $32-36 million.

Executives Praised the Results

The results were addressed by Charles Gillespie, co-founder and chief executive officer of Group, who praised the strong and organic growth. He attributed some of the company’s successes to’s investments in expanding its team, technology and portfolio of performance marketing websites. In addition, 2022 saw the company make forays into five new North American markets Group’s 364% year-over-year increase in fourth quarter North American revenue to $10.0 million reflects the continued benefit from strong performance in our newest markets, including solid results from our November launch in Maryland.

Charles Gillespie, CEO,

Gillespie added that the company’s great metrics have been further complemented by the strong performance of its Ohio launch this year, as well as from its launch in Massachusetts in early March. Outside of North America, continues to focus on the UK and Ireland, where it has operated for almost a decade.

Gillespie concluded that is poised to grow even further in 2023.

Elias Mark,’s chief financial officer, also commented on the matter. He praised the team for driving an increase of over 133% in new depositing customers and improving the company’s financial metrics.

With our strong operating cash flow and balance sheet, we have the financial flexibility to continue making return-focused investments in our business to deliver increased scale and attractive top-line and cash flow growth – all while maintaining strong profitability.

Elias Mark, CFO, continues to grow as attested by the EGR Sports Affiliate of the Year award it received in 2022.


Although Fiona doesn't have a long-spanning background within the gambling industry, she is an incredibly skilled journalist who has built a strong interest in the constantly growing iGaming network. The team at is glad to have her on our roster to help deliver the best stories as soon as they hit. Aside from writing, she loves to dabble in online casino games such as slots and roulette, both for her own enjoyment and also as research to better improve her understanding of the industry.

Leave a Reply

Your email address will not be published. Required fields are marked *