XLMedia expects strong 2022 growth from US sports vertical
The global digital performance publisher expects 2021’s results to be in line with its expectations.
XLMedia (XLM) has released its end-of-year projected figures for 2021. The European company and global digital performance publisher expects its full year results for the end of the year to be in line with expectations, delivering revenue of approximately $66.6m and adjusted EBITDA of approximately $17.2m, compared to $54.8m and $12.2m in 2020 respectively.
Cash balances, which includes short and long-term deposits, are expected to be $24.7m, an increase from $15.4m in 2020.
According to projected figures, the company’s sports vertical performed well in 2021. It brought in approximately $25.2m in revenue and was buoyed by two US sports acquisitions and several publishing partnerships. The sports vertical generated $11.3m during 2020.
XLM has North American coverage across 15 states, which could generate additional market opportunity as more states legalize online sports betting.
Personal Finance generated revenues of approximately $8.8m, a slight rise from $8.4m generated in 2020. Revenue in 2022 is expected to be less than during 2021, with trading continuing to be challenging.
The company has continued to make progress to further capitalize on the North American market opportunity and to materially reduce risk from the business legacy areas. This initiative is well advanced, with additional costs to be incurred until the middle of 2022 as expected.
The company expects the US sports vertical to deliver strong growth in 2022. Part of this will be offset by the managed decline of the European casino vertical and restructuring of the personal finance vertical.
Results for the year ended December 31, 2021 will be published in March 2022.
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