March 22, 2024 2 min read

likes: Posts FY 2023 Results & FY 2024 Guidance

CEO Gillespie said that the results extend the company’s strong record of delivering high top-lane growth and attractive margins Group, a provider of high-performance digital marketing services for the iGaming industry, has posted its Q4 and FY 2023 results. In addition to that, the company updated its guidance for 2024.

In Q4 2023, recorded revenue of $32.5 million, up from $21.3 million in Q4 2022. The company also reported quarterly adjusted EBITDA of $10.5 million, representing an increase of 54% year-on-year. also posted an EBITDA margin of 32%.

In Q4, the affiliate also reported net income of $6.3 million, greatly exceeding the net loss of $4.4 million reported a year ago.

In terms of full-year results, the company reported revenue of $108.6 million for the year, up from $76.5 million in FY 2022. Adjusted EBITDA for the period stood at $36.7 million, representing a 53% year-on-year increase.

Net income for 2023 reached $18.2 million, highlighting a stellar 664% year-on-year increase.

Other Q4 and recent business highlights include a 103% in NA revenue to $20.3 million, an increase in depositing customers of more than 159,000, and the acquisition of new European casino domains. In addition, the company repurchased 205,727 of its own shares at a price of $9.7, secured a $50 million credit facility with Wells Fargo and closed a deal to acquire XLMedia’s assets. also secured iGB’s Casino Affiliate of the Year Award. Is Optimistic about 2024

According to Charles Gillespie,’s co-founder and CEO, the company’s Q4 results “extended the company’s strong record of delivering high top-lane growth and attractive margins.” He praised the company’s recent growth and operating momentum, as well as the substantial revenue growth in the key NA market.  

We are confident in our ability to continue growing our North American market share this year and we will also benefit from the recent launch of online sports betting in our home state of North Carolina, where we are off to a strong start since the market launched on March 11th.

Charles Gillespie, co-founder & CEO,

Gillespie concluded that the company is poised for further growth and is looking forward to generating additional shareholder value.

In the meantime, posted its FY 2024 guidance saying that it expects revenue of $129-133 million and adjusted EBITDA in the range between $44 million and $48 million. These figures assume that no new NA markets disrupt the balance. They also assume an average EUR/USD exchange rate of 1.09 and no benefit from any new acquisitions.


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