Bragg releases preliminary FY2024 results and strategic initiatives for 2025
The company’s plans for 2025 include shifting revenue concentration, prioritizing growth in key markets, expanding exclusive partnerships and more.
Key Points
- Bragg expects FY2024 revenue to be reported at $166.2m, which would represent an increase of 9% year-over-year
- The company’s FY2024 adjusted EBITDA is expected to be just over $16m for an increase of 1% from the prior year period
Bragg Gaming has released preliminary financial results for full year (FY) 2024 along with strategic initiatives and guidance for 2025, including a FY2024 expected revenue of €102m ($166.2m) and adjusted EBITDA of $16m.
“I am pleased with where we believe 2024 results will land and very excited about the strong growth trajectory outlined in our 2025 guidance. Our strategic investments in proprietary and exclusive content as well as various Data, Player journey and AI enhanced engagement features, are expected to drive our growth in 2025,” Bragg Gaming CEO Matevž Mazij said.
“By focusing on margin-accretive products, we are well-positioned to boost both revenue and profitability while pursuing opportunities in key markets such as Brazil and the United States. Our PAM product remains a top-tier performer, and while our 2025 growth will largely come from the content side of the business, we have exciting prospects to expand our PAM offering.”
The anticipated FY2024 revenue would represent an increase of 9% year-over-year, while the adjusted EBITDA total would illustrate an increase of 1% from the prior year period. Bragg stated that it expects FY2025 revenue to fall between $122.4m and $128.1m, which would result in double digit growth year-over-year.
The company’s adjusted EBITDA guidance for FY2025 is expected to be reported between $19.8m and $22.4m, supported by a shift towards higher-margin product offerings.
Good to know: Bragg Gaming and Caesars Entertainment entered into a technology platform and exclusive games development partnership on January 14, with a focus towards markets located in the US and Canada
Throughout 2025, Bragg will implement strategic initiatives such as a shift in revenue concentration, executing growth in key markets, enhancing its presence in the US, Brazil and major European markets, expanding upon its exclusive partnerships and improving its technology, data and AI profiles.
For the shift in revenue concentration, Bragg stated that the percentage of revenue from its proprietary and exclusive content business is expected to increase, which would provide a more “margin-accretive mix” and improve profitability while relying less on third-party content revenue.
The company also stated that its proprietary and exclusive content and aggregation businesses are well-positioned to drive revenue in North America and Brazil, while maintaining focus on building a stronger presence in European markets such as Italy, UK, Spain and Sweden.
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